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(Reuters) – The Australian securities watchdog said on Thursday it is taking fixed-income broker FIIG to court, alleging it failed to implement adequate cybersecurity measures over a four-year period, enabling a hacker to infiltrate its IT network. The Australian Securities and Investments Commission (ASIC) claims FIIG’s deficiencies resulted in the theft of approximately 385 gigabytes of confidential data. Around 18,000 clients were notified that their personal information may have been compromised. Australian-based FIIG Securities was the target of a cyberattack that lasted from May 19, 2023, to June 8, 2023. The breach affected its entire IT network and some of…

By Chibuike Oguh and Yadarisa Shabong NEW YORK (Reuters) -The U.S. dollar edged higher against major currencies including the yen and the euro on Wednesday as data showing a slowdown in inflation was eclipsed by worries about potential inflationary implications of President Donald Trump’s tariffs. A trade brinkmanship between the U.S. and its trading partners, spurred by Trump’s unpredictable announcements on tariffs, has spread uncertainty among investors. In the latest episode, Trump vowed to respond to the European Union’s threat to impose counter tariffs on 26 billion euros ($28 billion) worth of U.S. goods from next month after Trump implemented…

By Lewis Krauskopf and Suzanne McGee NEW YORK (Reuters) – Investors are wary about worrisome market signs, after a steep U.S. stocks selloff that has wiped out more than $4 trillion in value and all of the gains notched following President Donald Trump’s election. Among the signs are technical signals such as the S&P 500 on Monday closing below a crucial trend line, a key measure of the market’s internals weakening, a concerning pattern in volatility futures contracts, rising cash levels among investors and de-leveraging by hedge funds away from equities. U.S. equities experienced a punishing drop this week, with…

By Aditya Kalra, Munsif Vengattil and Nivedita Bhattacharjee NEW DELHI (Reuters) -Mukesh Ambani’s Reliance Jio signed a deal with Elon Musk’s SpaceX to bring Starlink satellite internet services to India, a surprise move from the billionaires after being at odds for months over how the country should grant them spectrum. India’s largest telecom operator will stock Starlink equipment in its retail stores, giving Starlink a direct distribution point in thousands of such outlets across the country. Musk and Ambani had fought intensely over how airwaves should be assigned for satellite internet, with New Delhi finally siding with the allocation approach…

By Scott Murdoch SYDNEY (Reuters) -The Australian Securities Exchange (ASX) is considering allowing dual-class shares to be listed for the first time as the exchange operator and the corporate regulator try to revive the nation’s lacklustre listings market, an ASX executive said. ASX’s group executive of listings, Blair Beaton, said dual-class shares are not allowed in Australia so far, placing the domestic market at a disadvantage compared to its major global rivals. Dual-class structures typically have two or more types of shares with different voting rights, which some investors have argued can diminish shareholder rights. But several regulators have pushed…

By Arpan Chaturvedi, Aditya Kalra and Neha Arora NEW DELHI (Reuters) – ArcelorMittal’s (MT) India joint venture has sued New Delhi for rejecting imports of a steelmaking raw material, saying it was incorrectly imposing import curbs retroactively, escalating its fight over a policy change that is hurting its business, documents show. India’s government imposed curbs on imports of low-ash metallurgical coke, or met coke, starting in January, with country-specific quotas to help domestic suppliers. That has spooked big players like ArcelorMittal Nippon Steel India which are concerned about quality issues with local met coke. ArcelorMittal Nippon has already warned New…

By Tom Hals WILMINGTON, Delaware (Reuters) – Elon Musk kicked off his appeal to try to restore his $56 billion payday from Tesla (TSLA) on Tuesday, claiming a lower court judge made multiple legal errors in rescinding the record compensation. The 2018 pay package resulted in spectacular growth for the electric vehicle maker and yet it was determined by the lower Court of Chancery to be unfair to shareholders, who voted twice to approve the plan, Musk argued. NasdaqGS – Delayed Quote • USD At close: March 11 at 4:00:01 PM EDT “That counterintuitive result defies settled principles of Delaware…

By Alessandro Parodi (Reuters) – China in February again led purchases of electric vehicles, which increased worldwide versus a year ago, even as European Union tariffs on China-made EVs reduced sales of some brands, research firm Rho Motion said on Wednesday. Overall sales, including battery electric and plug-in hybrid vehicles, rose by 49% in February year-on-year to 1.2 million, but the researchers said the figure was distorted by the timing of Chinese New Year. Compared with January, figures were down 3%. The EU imposed tariffs on China-made cars at the end of October after an anti-subsidy investigation. Rho Motion Data…

By Tom Westbrook SINGAPORE (Reuters) – The euro was riding at five-month highs on Wednesday on Ukraine’s readiness to accept a month-long ceasefire, while stocks whipsawed on back-and-forth U.S. tariff plans and concern about a U.S. economic slowdown. European equity futures jumped 0.8% and FTSE futures rose 0.3% after the U.S. said it would restore military aid and intelligence sharing to Ukraine after Kyiv said it would accept a U.S. ceasefire proposal. Russia is yet to respond. A man takes a photo next to an electronic stock quotation board inside a building in Tokyo The euro hit its highest since…

By Joel Jose (Reuters) – Wall Street brokerages on Monday started coverage on SailPoint Technologies with broadly bullish views, but some analysts warned that the identity security provider could face increased competition. SailPoint, which was previously listed in 2022 before being taken private by growth capital firm Thoma Bravo, made a tepid return to the stock market in February. Morgan Stanley and Goldman Sachs led the underwriting for the initial public offering. With the mandated “quiet period” over, Morgan Stanley, Goldman Sachs and J.P. Morgan started coverage of the stock with a “neutral”-equivalent rating, citing competition from CyberArk, Okta and…