Bloomberg The UK’s Financial Conduct Authority (FCA) published a warning to consumers about Sam Bankman-Fried’s crypto exchange FTX, saying it isn’t authorised by the regulator to offer financial services or products in the country. The regulator said on its website that Bahamas-based FTX “is targeting people in the UK,” adding that investors are “unlikely to get your money back …

  Bloomberg US banking regulators are considering asking large regional banks to add to financial cushions to make it easier to wind them down in a future crisis, Dow Jones reported citing people familiar with the matter. New rules under consideration include requirements for regional banks to raise long-term debt that can help absorb losses in case of insolvency, extending …

  Bloomberg Singapore’s dollar has established itself as Asia’s most resilient currency against the US dollar this year, and some strategists are betting on more strength if price pressures force the nation’s central bank to tighten its exchange-rate policy again next month. Goldman Sachs Group Inc, Citigroup Inc and MUFG Bank Ltd are among banks that are bullish on the …

  Bloomberg Stocks slid with US equity futures in a cautious start on Monday as investors await a slew of interest rate decisions in the days ahead and after global equities notched their worst week since hitting this year’s low in June. Futures on the S&P 500 index dropped 1% along with the Nasdaq 100, indicating extended declines for the …

  Bloomberg The yuan fell, an indication that China’s latest attempts to beef up the currency with a record pushback in the reference rate and verbal warnings is barely holding back a selling wave. The People’s Bank of China (PBOC) fixed the yuan at 6.9396 per dollar, 647 pips stronger than the average estimate in a Bloomberg survey of analysts …

Bloomberg President Joe Biden said he warned Chinese President Xi Jinping it would be a “gigantic mistake” to violate sanctions imposed on Russia, but that there’s been no indication that Beijing has provided weapons to Moscow for its invasion of Ukraine. Biden, according to excerpts from an interview with CBS’s “60 Minutes” airing Sunday, said he spoke with Xi shortly …

  Bloomberg France denied a report that it’s considering cutting power exports to Italy, saying it’s committed to maintaining power supply to its European neighbours. France “reaffirms its commitment to reciprocal solidarity regarding gas and electricity with all our European neighbours,” the energy transition ministry said in a statement. “Fully functioning electric interconnections are a priority for collective supply security.” …

  Bloomberg FedEx Corp’s profit warning this week hit a nerve with global markets already jittery over the state of the economy. Shares of the delivery giant sank 21% last week, wiping out $11 billion in market value, and dragging the broader market to its worst week since June, as the results fuelled concern of weaker e-commerce and business-to-business activity. …

Bloomberg Senator Elizabeth Warren urged federal airline regulators to block JetBlue Airways Corp’s proposed merger with Spirit Airlines Inc. by invoking a rarely used authority from the 1950s to argue that the $3.8 billion deal isn’t “consistent with the public interest.” In a letter to Transportation Department Secretary Pete Buttigieg, Warren, a Massachusetts Democrat, said the agency could use its …

  Bloomberg Virgin Australia is reluctant to resume long-haul services even as demand for international travel soars, Chief Executive Officer Jayne Hrdlicka said, as the airline seeks to rein in costs and prepares for an initial public offering as soon as next year. “Anything that we did from a long-haul standpoint would have a very high hurdle on it,” Hrdlicka …