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Google’s Russian subsidiary to file for bankruptcy after bank account seized

May 18 (Reuters) – Google’s Russian subsidiary plans to file for bankruptcy after authorities seized its bank account, making it impossible to pay staff and vendors, but free services including search and YouTube will keep operating, a Google spokesperson said on Wednesday. The Alphabet Inc (GOOGL.O) unit has been under pressure in Russia for months …

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Architect of Allianz fraud made $ 60 million as he lied to investors, US says

FRANKFURT, May 17 (Reuters) – The star portfolio manager at the center of a fraud at the US funds unit of Allianz SE (ALVG.DE) relied on the German insurer’s good name to lure investors and thrived from a lack of oversight as he pocketed $ 60 million in pay, US authorities said. Gregoire “Greg” Tournant, …

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UK inflation hits 40-year high of 9.0%, squeezing households harder

UK April inflation rate likely highest in G7 Household energy bills drive up inflation Anti-poverty campaigners demand government action Inflation likely to rise further LONDON, May 18 (Reuters) – British inflation surged last month to its highest annual rate since 1982, pressuring finance minister Rishi Sunak to offer more help for households and the Bank …

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EXCLUSIVE China in talks with automakers on EV subsidy extension -sources

SHANGHAI, May 18 (Reuters) – China is in talks with automakers about extending costly subsidies for electric vehicles (EV) that were set to expire in 2022, aiming to keep a key market growing as the broader economy slows, three people familiar with the matter said. The move by policymakers comes as the world’s second-biggest economy …

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Analysis: Food inflation pain puts emerging markets between rock and hard place

Food makes up 40% of CPI baskets in low income countries A food price index hits record in February, March More governments opt to introduce support measures Risk of social unrest is on the rise over food, fuel price rises LONDON / ISTANBUL / CAIRO, May 17 (Reuters) – Like for millions of people in …

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US revises Cuba policy, eases restrictions on remittances, travel

A vintage car passes by the US Embassy in Havana, Cuba, October 30, 2020. Picture taken October 30, 2020. REUTERS / Alexandre Meneghini / File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON, May 16 (Reuters) – The United States on Monday announced a series of steps to revise its policy toward …

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Backer of stricken TerraUSD says spent reserves trying to salvage dollar peg

Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS / Dado Ruvic / Illustration / File Photo Register now for FREE unlimited access to Reuters.com Register ECB officials warn of risks from cryptocurrencies Luna Foundation Guard says reserves depleted to $ 90 million …

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Crypto world stabilizes, bitcoin rallies after stablecoin slide

Bitcoin hits intra-day high above $ 30,000 TerraUSD collapse shakes crypto market Analysts say impact on traditional markets limited HONG KONG / LONDON / NEW YORK, May 13 (Reuters) – Cryptocurrencies steadied on Friday, with bitcoin recovering from a 16-month low after a volatile week dominated by the collapse in value of TerraUSD, a so-called …

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