JPMorgan says crypto’s deleveraging cycle won’t last much longer

SINGAPORE (BLOOMBERG) – The current phase of deleveraging in cryptocurrencies is at an advanced state and may not last much longer, according to JPMorgan Chase & Co. Multiple crypto company failures should not be surprising given huge price declines among tokens, and entities that used higher leverage in the past are the most vulnerable, strategists […]

BioNTech, Pfizer to start testing universal COVID-19 vaccine

In this file photo taken on January 10, 2022, a health worker shows a vial of the Pfizer/BioNTech vaccine against the coronavirus disease COVID-19 at a vaccination center in Santiago. (JAVIER TORRES / AFP) BRUSSELS / SAO PAULO / COPENHAGEN / OTTAWA / SAN SALVADOR / BELGRADE / ADDIS ABABA / WINDHOEK – Germany's BioNTech, Pfizer's partner in COVID-19 vaccines, said the […]

Samsung to start mass production of 3-nanometer chips in global first

SEOUL (BLOOMBERG) – Samsung Electronics kicked off mass production of 3-nanometer (nm) chips that are more powerful and efficient than predecessors, beating rival Taiwan Semiconductor Manufacturing Company (TSMC) to a key milestone in the race to build the most advanced chips in the world. South Korea’s largest company will begin with 3nm semiconductors for high-performance […]

China factory activity expands for first time in four months as Covid-19 curbs ease

BEIJING (REUTERS) – China’s factory and service sectors snapped three months of activity decline in June, business surveys showed on Thursday (June 30), as authorities lifted a strict Covid-19 lockdown in Shanghai, reviving output and consumer spending. The official manufacturing purchasing managers’ index (PMI) rose to 50.2 in June from 49.6 in May, the National Bureau […]

Letter: EU chief can’t find texts with Pfizer head on vaccine deal

European Commission President Ursula von der Leyen speaks during a news conference after a meeting of the College of Commissioners at EU headquarters in Brussels, June 17, 2022. (GEERT VANDEN WIJNGAERT / AP) BRUSSELS / SAO PAULO / COPENHAGEN / OTTAWA / SAN SALVADOR / BELGRADE / ADDIS ABABA / WINDHOEK – European Commission president Ursula von der Leyen is no longer […]

Japan’s May factory output suffers biggest slump in two years

TOKYO (REUTERS) – Japan’s factory output posted the biggest monthly drop in two years in May as China’s Covid-19 lockdowns and semiconductor and other parts shortages hit manufacturers, adding to worrying signs for an economy struggling to mount a strong recovery. The decline also highlights the challenge the world’s third-largest economy faces in overcoming supply […]

Crypto crash widens a divide: ‘Those with money will end up being fine’

ENGLEWOOD, Colorado (NYTIMES) – The cryptocurrency market was in ruins. But Tyler and Cameron Winklevoss were jamming. The billionaire twins, best known for their supporting role in the creation of Facebook, twirled and shimmied across the stage with their new cover band, Mars Junction, at a concert venue outside Denver last week, the latest stop […]

EU moves closer to strict anti-money laundering rules on crypto

LONDON (BLOOMBERG) – The European Parliament and Council on Wednesday (June 29) reached a provisional agreement to force crypto providers to provide identifying information on all digital asset transactions, despite an industry backlash. The so-called transfer of funds regulation (TFR) seeks to strengthen anti-money laundering requirements to ensure that crypto transfers can always be traced and […]