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 »
A preview of the day ahead in the European and global markets of Anshuman Daga Hopes of near calm in the final weeks of 2022 are firmly dashed as rare widespread protests across China following tough coronavirus restrictions fuel risk sentiment and pulp stocks, while pushing the safe haven dollar. To make matters worse, COVID-19 …
Nov 28 (Reuters) – A preview of the day ahead in Asian markets from Jamie McGeever. The Purchasing Managers’ Index (PMI) data will be the main economic driver for Asian markets this week, but the tone will be set by the increasingly tense political situation in China. Thousands of people are taking to the streets …
Morning auction: the Chinese crisis is preparing Read More »
OTTAWA, Nov 27 (Reuters) – Canada launched its long-awaited Indo-Pacific strategy on Sunday, pledging more resources to deal with a “disruptive” China while working with the world’s second-largest economy on climate change and trade issues. . The 26-page document outlines spending of C$2.6 billion ($1.9 billion), including bolstering Canada’s military and cybersecurity presence in the …
Canada launches new Indo-Pacific strategy, focuses on ‘disruptive’ China Read More »
Industrial profits from January to October -3.0% per year compared to -2.3% in January to September Risks from national COVID outbreaks and global recession flagged BEIJING, Nov 27 (Reuters) – Chinese industrial firms saw their overall profits decline further in the January-October period as COVID-19 outbreaks erupted and cities imposed new anti-corruption measures. viruses, including …
China’s industrial profits fall further as COVID woes weigh on economy Read More »
