Cryptoverse: Bitcoin miners get stuck in a bear pit
Spare a thought for the beleaguered bitcoin miner.
In late 2021, miners were the toast of the town with a surefire path to profit: hook powerful computers up to cheap power, ...
Pummelled pound faces long road back as investor confidence shredded
Sterling’s slide to record lows leaves it staring at parity with the dollar. Whether or not it hits the symbolic level, investors say Britain’s new government has dealt ...
Philippines to shut 175 offshore gambling firms
The Philippines will stop operations of 175 offshore gambling firms and deport about 40,000 Chinese workers, a justice ministry official said on Monday, part of a crackdown on the notoriously opaque online ...
Oil rises as focus turns to possible supply cuts
Oil prices rose more than 1 per cent on Tuesday, after plunging to nine-month lows a day earlier, amid indications that producer alliance OPEC+ may enact output cuts to avoid a ...
Bitcoin bounces above $20,000 for first time in about a week
Bitcoin broke above $20,000 on Tuesday for the first time in about a week, as cryptocurrencies bounced, along with other risk-sensitive assets, in Asian trade.
The biggest cryptocurrency by market value, ...
Reversing UK confidence crash requires policy U-turn: economists
Rock-bottom investor confidence in Britain will only recover with a U-turn of the economic plan announced last week by finance minister Kwasi Kwarteng, US economist Larry Summers and J.P. ...
A history of UK currency crises and crashes
Britain’s pound plunged to an all-time low early on Monday as international investors reacted to plans laid out by the country’s new prime minister and finance minister to ...
Group of countries to push EU for gas price cap
A group of European Union countries want to push Brussels to produce plans this week for a bloc-wide cap on the price of gas, according to a draft letter seen ...
With eye on Big Tech, energy crisis, EU telcos call for shared network costs
Deutsche Telekom (DTEGn.DE), Orange (ORAN.PA), Telefonica (TEF.MC) and 13 other European telecoms providers on Monday made their strongest push for Big Tech to share network costs, citing the ...
Energy, inflation crises risk pushing big economies into recession, OECD says
Global economic growth is slowing more than was forecast a few months ago in the wake of Russia’s invasion of Ukraine, as energy and inflation crises risk snowballing into ...
McDonald’s hikes prices in Japan on higher input costs, weaker yen
Japan’s McDonald’s fast food restaurants will raise prices on about 60 per cent of its offerings to customers, fuelled by rising input costs and exchange-rate fluctuations, the company said ...
Companies potentially affected by Italy’s election
A right-wing alliance led by Giorgia Meloni’s Brothers of Italy party looks set to win a clear majority in the next parliament, exit polls said on Sunday after voting ...
Japan bans chemical weapons-related goods to Russia
Japan has decided to ban exports of chemical weapons-related goods to Russia in an additional sanction against Moscow over its invasion of Ukraine, and is “deeply concerned” about the possible ...
Oil prices fall for a second day on concerns for expected recession
Oil prices fell for a second day on Monday on fears of lower fuel demand from an expected global recession sparked by rising worldwide interest rates and as a surging ...
UK home asking prices rise, tax cuts to spur demand
Asking prices for British homes advertised rose solidly this month and last week’s cut to property purchase tax announced by finance minister Kwasi Kwarteng could fuel demand further, property ...
Pound plunge the latest ill omen as stocks slide
Sterling slumped to a record low on Monday, prompting speculation of an emergency response from the Bank of England, as confidence evaporated in Britain’s plan to borrow its way ...
UK bonds and pound at centre of storm as tax shock hammers confidence
Britain’s bond market suffered its biggest daily fall in decades on Friday and is expected to slump further, as investors choked on the prospect of hundreds of billions of ...
Inflation, spending cuts undermine Biden’s hunger policy
Grace Melt made her first visit to the Nourishing Hope food pantry on Chicago’s North Side in August. Throughout the COVID-19 pandemic, she used food stamps issued by the ...
Brokerages jump on report SEC stops short of banning PFOF deals
Shares of retail brokerage Robinhood Markets Inc and market maker Virtu Financial (VIRT.O) jumped following a media report that the US Securities and Exchange Commission (SEC) will stop short ...
Crypto exchange Kraken has no US SEC registration plans, says incoming CEO
Cryptocurrency exchange Kraken has no plans to delist tokens the US Securities and Exchange Commission has labelled as securities, or to register with the agency as a market intermediary, said ...
Bankrupt crypto lender Voyager’s CFO to exit months after appointment
Voyager Digital Ltd Chief Financial Officer Ashwin Prithipaul is preparing to step down from his role within months of his appointment at the crypto lender that filed for bankruptcy in ...
Toyota Motor to close its factory in Russia
Japan’s Toyota Motor Corp (7203.T) said on Friday that it had decided to end vehicle production in Russia due to the interruption in supplies of key materials and parts.
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Ericsson says no hardware exported to Russia, only software support
Ericsson (ERICb.ST) said on Friday it is only providing software and technical support to Russian clients and has not sold any telecommunications equipment to mobile operators there since the ...
Russia’s SWIFT alternative expanding quickly this year, central bank says
The reach of Russia’s alternative to the SWIFT international messaging system has grown at record pace this year, the central bank said on Friday, as Moscow ramps up efforts ...