Monday, 11 July 2022

Exclusive: Sri Lanka central bank chief signals he will stay in job, warns turmoil impedes IMF talks

Exclusive: Sri Lanka central bank chief signals he will stay in job, warns turmoil impedes IMF talks

Sri Lanka's central bank governor signalled on Monday he would stay in the job but warned that prolonged political instability in the country may delay progress on negotiations with the International Monetary Fund for a bailout package.

South Korea's LG Energy Solution to supply batteries to India's Mahindra

South Korean battery maker LG Energy Solution is set to supply batteries to Mahindra & Mahindra's first electric sports utility vehicle (SUV), a source familiar with the matter said on Monday.

U.S. bank profits to tumble on higher bad loan reserves

Second quarter profits at big U.S. banks are expected to fall sharply from a year earlier on increased loan loss reserves, as the pandemic recovery gives way to a possible recession.

Musk makes meme on Twitter legal threat after scrapping $44 bln deal

Elon Musk on Monday mocked Twitter Inc's threat to sue him following his move to abandon the $44 billion takeover deal, tweeting the social media firm would need to disclose more information on bots and spam accounts.

Futures fall with investors wary ahead of earnings

U.S. stock index futures fell on Monday, bracing for the start of the earnings season which could see profits come under pressure at a time of growing fears of an economic downturn due to aggressive interest rate hikes.

Perrigo unit submits approval application to FDA for OTC birth control pill

Perrigo Company said on Monday its unit has submitted an application to the U.S. Food and Drug Administration (FDA) for approval of an over-the-counter (OTC) birth control pill.

Exclusive: Binance served crypto traders in Iran despite U.S. sanctions, clients say

The world's largest crypto exchange, Binance, continued to process trades by clients in Iran despite U.S. sanctions and a company ban on doing business there, a Reuters investigation has found.

How crypto giant Binance became a hub for hackers, fraudsters and drug traffickers

For five years, the world's largest cryptocurrency exchange Binance served as a conduit for the laundering of at least $2.35 billion in illicit funds, a Reuters investigation has found.

How big U.S. banks have managed bad loan reserves since the pandemic

The big six U.S. banks face a tough second quarter earnings season due to a hit from increased loan loss reserves, as the pandemic recovery gives way to a possible recession.

Tests in Space: Ericsson, Qualcomm, Thales expand 5G horizon

Swedish telecom equipment maker Ericsson , French aerospace group Thales and U.S. chipmaker Qualcomm plan to work jointly to develop a satellite-driven 5G network to improve terrestrial connectivity.

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