Massive tech layoffs are spawning a new wave of startups Early-stage venture capital funding at record highs Echoes of the dotcom crash that fueled Facebook and others Jan 3 (Reuters) – Nic Szerman lost his job at Meta Platforms (META.O) in November, just two months after joining full-time, victim of a drastic 13% cut in …
Startups rise from the ashes of the Big Tech purge Read More »
FRANKFURT, Nov 30 (Reuters) – Bitcoin is artificially backed and should not be legitimized by regulators or financial firms as it is more akin to gambling, the European Central Bank said on Wednesday. Bitcoin and other cryptocurrencies have been variously touted as an alternative form of money and a shield against inflationary policies pursued by …
UPDATE1 ECB says Bitcoin is artificially backed, should not be legitimized Read More »
Price control starts April 1 The proposals are subject to statutory consultation Should increase the use of renewable energy Green energy would be supported by nuclear, hydrogen LONDON, Nov 30 (Reuters) – Britain’s energy watchdog has proposed price controls for electricity distribution companies for the next five years, which it says will boost investment in …
UK energy watchdog proposes electricity price checks Read More »
FRANKFURT, Nov 29 (Reuters) – The European Central Bank warned on Tuesday it could suffer losses as high inflation forces it to raise interest rates and foot the bill for a decade of aggressive money printing . After raising interest rates to combat runaway prices, the ECB must pay huge interest to commercial banks on …
ECB warns of losses as it pays the price for a decade of money printing Read More »
Russia turns to Chinese currency despite sanctions Moscow becomes the 4th offshore trading center for the yuan The share of the yuan in the Russian foreign exchange market increases from 1% to 45% Russian central bank backs trend but warns of risks This content was produced in Russia where the law limits coverage of Russian …
Yuan is the new dollar as Russia rolls to red back Read More »
NEW YORK, Nov 28 (Reuters) – The global oil market is signaling a potential shift as traders and analysts worry about falling demand for crude and a surplus market in the coming months. After months of strength, crude futures are flirting with all-year lows as major oil consumer China enters additional COVID-19-related lockdowns while central …
Global oil market signals near-term weakness ahead of EU embargo on Russian oil Read More »
The Egyptian pound is trading at 8% discount on the black market October’s $3 billion IMF deal helps rally bond prices Little demand so far for Treasuries or FDI, analysts say Egypt must repay $33.9 billion in external debt until mid-2025 CAIRO/LONDON, Nov 25 (Reuters) – Egyptian finances remain in a precarious state despite two …
Analysis: Egypt not off the hook after IMF bailout deal Read More »
ANKARA, Nov 25 (Reuters) – Turkey and Qatar are in the final stages of Doha talks to provide up to $10 billion in funding to Ankara, including up to $3 billion by the end of this year, two senior Turkish officials and another source told Reuters. One of the officials said the full funding could …
Turkey in final-stage talks for up to $10 billion in funding from Qatar – sources Read More »
LONDON, Nov 24 (Reuters) – The crash of the FTX exchange has made regulation of the crypto sector more urgent and targeting these “conglomerate” platforms will be a focus for 2023, the new Chairman of IOSCO on Global Securities in an interview. Jean-Paul Servais said regulation of crypto platforms could draw inspiration from the principles …
Global Regulators To Target Crypto Platforms After FTX Crash Read More »
LONDON, Nov 23 (Reuters) – The Bank of England will continue to hike interest rates to fight inflation even as Britain heads into a long albeit shallow recession as consumers face a prolonged crisis in the cost of living, according to a Reuters poll of economists. . Finance Minister Jeremy Hunt announced more pain in …
