Britain announced new plans on Thursday to help it become the world’s most competitive financial center, including easing capital rules for insurers, lowering a tax rate for banks, and promising to review all European Union financial rules. After leaving the… Read More ›
US Retailer Target Corp forecasted a surprise drop in holiday-quarter sales, blaming rising inflation and “dramatic changes” in consumer spending for a drop in demand for everything from toys to electronics. Shares of the big-box retailer fell more than 17% in… Read More ›
Bitcoin and other cryptocurrencies were under pressure on Monday as a result of the fallout from the collapse of the cryptocurrency exchange FTX, with market participants concerned about significant withdrawals from the Singapore-based exchange Crypto.com. Crypto.com announced via Twitter that… Read More ›
Mitsubishi UFJ Financial Group Inc, Japan’s largest lender by assets, on Monday reported a 70.5% slide in second-quarter net profit because of another one-off loss related to the sale of U.S. unit MUFG Union Bank. Mitsubishi UFJ, which owns about… Read More ›
Chewing coca has emerged as Bolivia’s newest fashionable trend, with flavors ranging from bubble gum to passion fruit and TikTok stars promoting it. For centuries, Andean villagers have chewed coca leaves, the primary component of cocaine, to combat the effects… Read More ›
The almost-collapse of FTX, one of the biggest cryptocurrency exchanges in the world, has shook the market for digital assets. After a spike in withdrawals led to a “significant liquidity crunch,” FTX and its larger rival Binance reached a bailout… Read More ›
Due to the German sportswear giant’s termination of its partnership with Kanye West’s Yeezy brand, Adidas on Wednesday lowered its full-year guidance. Ye, formerly known as Kanye West, had a contract with the company terminated on October 25 as a… Read More ›
Elon Musk’s purchase of Twitter has given dogecoin, the meme cryptocurrency he popularized, a new leash of life. After the Tesla magnate closed the $44 billion deal, the price of Dogecoin doubled. On October 27, it was trading at about $0.07 when… Read More ›
According to two of the top ECB policymakers, letting inflation remain high would be even more painful, so the ECB will keep raising borrowing costs even as the euro zone economy struggles. In order to return double-digit inflation in the… Read More ›
According to proposed EU regulations, Airbnb and other short-term home rental businesses will need to share information on the number of users of their platforms, the European Commission announced on Monday. This is part of a light-touch approach to regulating… Read More ›
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