Revlon Inc has declared bankruptcy after succumbing to debts incurred in its efforts to compete with online-focused upstarts. In a court statement on Wednesday, the 90-year-old company, known for its nail polishes and lipsticks, stated assets and liabilities ranging from… Read More ›
The Federal Reserve approved its largest interest rate hike in more than a quarter-century on Wednesday to stem a surge in inflation that U.S. central bank officials acknowledged may be eroding public trust in their power and is being driven… Read More ›
Bitcoin fell to a fresh 18-month low on Wednesday, bringing smaller tokens down with it and worsening a market crisis caused by crypto lender Celsius suspending customer withdrawals earlier this week. The world’s largest cryptocurrency dropped 7.8 percent to $20,289,… Read More ›
The European Central Bank revealed Wednesday that it intends to develop a new instrument to combat the possibility of eurozone fragmentation, in an effort to allay fears of a new debt crisis. The decision follows the central bank’s surprise emergency… Read More ›
Amazon has offered to share marketplace data with sellers and increase the visibility of rival products on its platform in an attempt to persuade EU antitrust investigators to finish their investigations without a fine before the end of the year,… Read More ›
Apple Inc’s revenue from gaming and music offers is likely to rise 36% to $8.2 billion by 2025, according to J.P.Morgan, as the iPhone manufacturer leverages its massive user base to power its subscription services. According to JPM analysts lead… Read More ›
Major South Korean companies say they are suffering as a strike by thousands of truck drivers across the country enters its seventh day. Among the companies impacted by the strike are Hyundai and POSCO, both of which manufacture steel. As… Read More ›
Russia surpassed Saudi Arabia in becoming India’s second largest oil supplier in May, although it remains second only to Iraq, according to trade sources. According to the data, Indian refiners received about 819,000 barrels per day (bpd) of Russian oil… Read More ›
The European Central Bank is anticipated to reaffirm its decision to hike interest rates next month, as policymakers gather in Amsterdam for their first meeting outside of Frankfurt since the coronavirus outbreak began. While inflation in the 19-member eurozone reached… Read More ›
The CEO of Goldman Sachs-backed digital bank Starling has stepped up his condemnation of cryptocurrency, calling it a threat to the security of payment systems. “It is very dangerous,” Anne Boden, who founded Starling in 2014, warned Tuesday at the… Read More ›
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