Author: News Room

A federal appeals court late Wednesday night froze parts of a Texas judge’s order that would have suspended the US Food and Drug Administration’s approval of a medication abortion drug. But the court only partially granted the request by the Justice Department and the drug’s manufacturer to put US District Judge Matthew Kacsmaryk’s ruling on hold, with the panel effectively making the drug harder to obtain. Last Friday, Kacsmaryk issued a ruling that would have halted the FDA’s 23-year-old approval of the drug, mifepristone. Under the appeals court’s new order, the approval will stay in effect and the drug will…

SoftBank’s decision to sell its Korea-based venture capital arm to a company recently founded by the brother of its chief executive Masayoshi Son has drawn criticism from analysts over governance standards at the tech conglomerate.The Japanese group has denied any conflict of interest over the deal, but sellside analysts and governance experts have taken issue with the fact that the latest sale, despite its small size, is just one of several transactions at SoftBank involving its founder and his family.On Wednesday, the Japanese group said The Edgeof, a company established last month by entrepreneur Taizo Son, would buy SoftBank Ventures…

Roku (NASDAQ:ROKU) was a pandemic darling which after seeing its growth disappear has seen its stock price get crushed in the aftermath. As the company exits 2022 and begins the 2023 year, growth has not re-accelerated as expected from lapping tough comps. The tough macro environment is now to blame but management has guided for positive adjusted EBITDA within 2 years. While there is not much to be optimistic about in the near term, the vicious valuation reset gives shareholders enough reason to continue holding over the long term. ROKU Stock Price Just a few years ago, ROKU stock was…

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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________Scam newsFormer investment banker and registered broker Rashawn Russell has been charged by the federal court in Brooklyn, New York, USA, for defrauding investors by promising profits on fake cryptocurrency investments and misappropriating the funds, announced the US Department of Justice (DOJ). “As alleged, Russell turned the demand for cryptocurrency investments into a scheme to defraud numerous investors in order to fund his lifestyle,” Breon Peace, United States Attorney for the Eastern District of New York, was quoted as…

A new court filing alleges JPMorgan Chase executives were aware of sex abuse and trafficking allegations against its then-client Jeffrey Epstein, several years before the financial institution cut ties. The latest complaint, part of a lawsuit against the bank filed by the attorney general for the US Virgin Islands (USVI), adds an additional count alleging that JPMorgan obstructed federal law enforcement and prosecuting agencies pursuing Epstein. “JP Morgan’s relationship with Epstein in allowing his sex-trafficking venture to access large sums of cash each year went far beyond a normal (and lawful) banking relationship,” the filing says, adding that bank executives…

Twitter will let its users access stocks, cryptocurrencies and other financial assets through a partnership with eToro, a social trading company.Starting Thursday, a new feature will be rolled out on the Twitter app. It will allow users to view market charts on an expanded range of financial instruments and buy and sell stocks and other assets from eToro, the company told CNBC exclusively.Currently, it’s already possible to view real-time trading data from TradingView on index funds like the S&P 500 and shares of some companies such as Tesla. That can be done using Twitter’s “cashtags” feature — you search for a…

(Reuters) – Bank of England Governor Andrew Bailey said he did not see signs of a repeat of the 2007/8 global financial crisis, speaking at the International Monetary Fund Spring Meetings in Washington. “I do not see the evidence that we’ve got on our hands what I would call … the makings of a 2007/8 financial crisis. I really don’t see that,” Bailey said when asked about recent instability in the banking sector. “The system is in a much more robust condition,” he added. Read the full article here

By Peter Nurse Investing.com – The U.S. dollar edged higher in early European trade Thursday, but remained under pressure after cooler-than-expected inflation data raised the possibility of an early end to the Federal Reserve’s rate-tightening cycle. At 02:00 ET (06:00 GMT), the , which tracks the greenback against a basket of six other currencies, traded 0.1% higher at 101.243, just above the two-month low of 101.138 seen earlier in the session after sinking 0.6% overnight. U.S. edged 0.1% higher in March, data showed Wednesday, resulting in an of 5.0%, the smallest 12-month gain since May 2021. This was below the…

By Ambar Warrick Investing.com — Oil prices crept lower in early Asian trade on Thursday, as markets gauged the prospect of a U.S. recession against more signs of easing inflation and growing bets that the Federal Reserve will pause its rate hike cycle. Markets were also somewhat cautious ahead of a monthly report from the (OPEC), which is expected to provide more cues on crude demand and supply after the cartel unexpectedly cut production earlier this month. from China was also in focus, as markets sought more economic cues on the world’s largest oil importer. Oil prices rallied on Wednesday…