HONG KONG (Reuters) - A Hong Kong court adjourned a hearing to liquidate Chinese property developer Kaisa Group to April 29 after a bond trustee, instructed by a major group of dollar bondholders, replaced the original petitioner. The latest development came after Broad Peak Investment, which filed the winding-up petition in July in relation to...
Hut 8, a Bitcoin mining company, has announced the closure of its mining site in Drumheller, Alberta, Canada, citing power disruptions and rising energy costs as significant factors. The decision comes amid escalating energy costs and power disruptions, which are severely impacting the site’s profitability. The Drumheller facility, which currently contributes approximately 1.4% of Hut...
European stocks were subdued on Thursday as investors awaited cues from the ECB\'s rate decision as well as President Christine Lagarde\'s press conference later in the day. The central bank is expected to keep interest rates unchanged at record highs for the fourth policy meeting in a row but could signal potential future cuts in...
By Scott Murdoch SYDNEY (Reuters) - China Evergrande (HK:3333)\'s liquidators have hired three law firms to advise on the troubled property giant\'s winding-up process, according to sources with direct knowledge of the matter. Global firm Clifford Chance and Hong Kong firms Tanner De Witt and Karas So were mandated recently to provide legal advice on...
BlockFi has finalized a settlement with FTX and Alameda Research to receive $874.5 million to help repay customers affected by its bankruptcy. According to a recent court filing by the United States Bankruptcy Court for District of New Jersey, the comprehensive agreement detailed that BlockFi will obtain a mix of claims against FTX valued at...
Labor productivity in the U.S. saw an unrevised jump in the fourth quarter of 2023, according to a report released by the Labor Department on Thursday. The Labor Department said labor productivity shot up by 3.2 percent in the fourth quarter, unchanged from the previous estimate. Economists had expected the surge in productivity to be...
The U.S. Securities and Exchange Commission (SEC) Commissioners, Hester Peirce and Mark Uyeda, have publicly criticized the agency’s unclear cryptocurrency enforcement policies following a recent settlement with ShapeShift. In a detailed statement published on March 5, Peirce and Uyeda highlighted the ShapeShift case as emblematic of broader issues within the SEC’s handling of digital assets....
The European Central Bank left the key interest rates unchanged on Thursday and lowered both the inflation and growth forecast for the euro area for this year. The Governing Council, led by ECB President Christine Lagarde, maintained the main refinancing rate, or refi, at 4.50 percent, as expected. The deposit facility rate was left unchanged...
The Bitcoin mining company Hut 8 recently faced a significant decline in share prices on the Nasdaq following accusations of short-selling by JCapital. In response, several law firms have offered to represent investors who suffered losses during this period. While some lawsuits cater to individuals who suffer losses, others claim that all shareholders who purchased...
The U.S. Food and Drug Administration, amid the ongoing reports of lead poisoning in young children, announced several additional steps to address concerns about elevated lead levels in various cinnamon products. The agency also recommended recall of certain ground cinnamon products sold by a number of brands at six different retail chains that were found...