Cryptocurrency prices lurched higher on Wednesday in wake of more dovish than expected remarks from Fed Chairman Jerome Powell, who was speaking as usual in the post-Fed policy announcement press conference. Risk assets, including stocks, surged as Powell acknowledged that the central bank has made…

Banks that lost billions from the meltdown of Archegos Capital Management will get back as little as 5 cents on the dollar from its restructuring, with brokers such as Goldman Sachs funding the payouts using cash left in the family office’s trading accounts.Global banks, including…

Investors expect certain “sacred rights” when they lend money to a company: they agree on when they will get paid, for example, and how much.To change any “sacred” parts of the contract, all affected investors have to approve, while other parts can be changed with…

British Steel is examining more than 800 job cuts at its flagship UK plant, according to trade unions, in a move that raises questions over a proposed £300mn support package from the government. Although the company, which is owned by China’s Jingye, has not yet…

OpenAI, the company behind ChatGPT, announced on Wednesday it is piloting a $20 monthly subscription plan that offers users priority access to the AI chatbot even during peak times. The paid plan, called ChatGPT Plus, comes two months after the tool was released publicly and…

As the Federal Reserve announces its interest rate decision, many investors are looking to the future of Bitcoin and asking: can BTC reach $30,000 this month?The Federal Reserve announced on Wednesday that its key short-term interest rate would go up by a quarter point, which…