More western tech companies set out Russian exit plans
Western technology companies, including Ericsson ERICb.ST and Nokia NOKIA.HE, announced plans for complete exits from Russia on Monday, following Dell DELL.N last week, as the pace of ...
Pain of breaking inflation will reverberate around the globe
The message from the world’s top finance chiefs is loud and clear: rampant inflation is here to stay and taming it will take an extraordinary effort, most likely a ...
Biden’s student loan forgiveness may erase savings of climate, drugs law
President Joe Biden’s controversial plan to forgive up to $20,000 in student loans for tens of millions of Americans could erase the projected $300 billion deficit reduction that his hard-fought climate, ...
Singapore says retail investors ‘irrationally oblivious’ to crypto risks, plans tougher rules
Singapore is planning to roll out new regulations that will make it more difficult for retail investors to trade cryptocurrencies at a time when they seem to be “irrationally oblivious” ...
Oil climbs on prospect of OPEC supply cut, demand growth
Oil prices rose 1 per cent on Monday, as expectations that OPEC would cut output if needed to support prices, coupled with conflict in Libya and rising demand amid soaring natural ...
Dollar hits 20-year high as Fed flags higher rates for longer
The US dollar surged to a 20-year high against a basket of currencies on Monday after Federal Reserve Chair Jerome Powell signalled interest rates would be kept higher for longer ...
ECB policymakers make the case for a big rate hike
European Central Bank policymakers made the case on Saturday for a large interest rate hike next month as inflation remains uncomfortably high and the public may be losing trust in ...
Gulf stocks fall on tight monetary policy outlook
Major Gulf stock markets ended lower on Sunday as investors in the region reacted to comments by Federal Reserve Chair Jerome Powell signalling the US economy would need tight monetary ...
Dell ceases all Russian operations after August offices closure
Dell Technologies Inc. said on Saturday it had ceased all Russian operations after closing its offices in mid-August, the latest in a growing list of Western firms to exit Russia.
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Japan’s Suzuki drives deeper into India with global R&D unit
Suzuki Motor Corp (7269.T) will set up a global research and development company in India, its president said on Sunday, pushing deeper into a market that is set to become ...
European computer segment affected by supply chain disruption
Computer shipments experienced a decline for the second quarter in a row at the end of the first half of the year, hindered by issues on both the demand and ...
Asset managers to offer fund tokens despite crypto turmoil
Investors in crypto have endured wild moves in recent months, but this has not fazed asset managers who are preparing to use the blockchain technology behind cryptocurrencies to break funds ...
Automakers accelerate drive to secure battery raw materials
Rising demand for electric vehicles (EV) around the world is encouraging automakers such as Tesla Inc (TSLA.O), Volkswagen (VOWG_p.DE) and Stellantis NV (STLA.MI) to step up ...
Jack Dorsey’s Block ends Afterpay smartphone tie-up with Australia’s Westpac
Afterpay, the Australian payments firm bought by Jack Dorsey’s Block Inc (SQ.N), and Australia’s Westpac Banking Corp (WBC.AX) ended a partnership after the firm cancelled a ...
Businesses moving to the cloud must have a strategy in place
The pandemic brought to light a great deal of financial, economic and operational weakness across the world.
This prompted organisations across all industries to double down on business reliance planning, ...
A new era of monetary policy is just beginning
By Ioannis Tirkides
The current time and the next period for a number of years at least, will be more treacherous for monetary policy. This is because the era of ...
Cannabis fintech Bespoke to expand BNPL base in cash-starved industry
Fintech firm Bespoke Financial is looking to expand its ‘buy now pay later’ service for cannabis businesses in California and Massachusetts later this year, its Chief Executive George Mancheril said ...
Thai lender SCBX scraps $500 mln acquisition of crypto exchange Bitkub
Thailand’s oldest lender, SCBX Pcl (SCB.BK), said on Thursday it was pulling out of a $500 million deal to buy crypto exchange Bitkub, saying the start-up needed time to ...
Currency tops list of challenges for Egypt’s new central bank governor
Egypt’s new central bank governor, Hassan Abdalla, faces a daunting task as he tries to repair an economy derailed by an overvalued currency, rampant inflation and a banking system ...
Oil prices rise on signs of improving demand, gain 3 per cent on week
Oil prices rose as much as $1 on Friday on signs of improving fuel demand, although further gains were capped as the market awaited clues from the US Federal Reserve chairman ...
Cash-rich Germany criticised by watchdog over money laundering
Germany has been criticised by a global watchdog for failing to do enough to tackle money laundering, such as by prosecuting very few for the crime despite being one of ...
Fertiliser makers cut output as gas prices surge
Norway’s Yara (YAR.OL), one of the world’s largest fertiliser makers, is cutting ammonia production in Europe further because of the surge in gas prices, following other manufacturers.
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Abercrombie cuts sales forecast as Hollister falls out of fashion
Abercrombie & Fitch Co on Thursday cut its full-year sales and margin forecasts after reporting a surprise quarterly loss, underscoring increasing competition for consumer dollars amid surging inflation.
Shares of ...
ECB accounts show inflation concerns intensifying
European Central Bank policymakers meeting last month appeared increasingly concerned that high inflation was getting entrenched, even as the risk of a recession loomed in the bloc, the accounts of ...