The Environmental Protection Agency headquarters in Washington, DC, on June 29, 2022. (STEFANI REYNOLDS / AFP) WASHINGTON – The US Supreme Court on Thursday imposed limits on the federal government's authority to issue sweeping regulations to reduce carbon emissions from power plants in a ruling that undermines President Joe Biden's plans to tackle climate change […]
A general view of the Meeting of the North Atlantic Council Session with fellow heads of state at the NATO summit at the IFEMA arena in Madrid, June 30, 2022. (JONATHAN ERNST/POOL PHOTO VIA AP) MADRID – The 2022 Summit of the North Atlantic Treaty Organization (NATO) concluded in Madrid on Thursday amid mounting criticisms […]
NEW YORK (AFP) – Grayscale, which said it managed the world’s largest Bitcoin fund, said it would sue the US Securities and Exchange Commission (SEC) after the regulator turned down its bid to convert the investment vehicle into an exchange-traded fund (ETF). Grayscale filed a petition with a federal appeals court on Wednesday (June 29), […]
NEW YORK (NYTIMES) – Wall Street set records in the first half of the year, none of them good. The US economy is on the cusp of a recession, battered by high inflation and rising interest rates, which eat into pay cheques, dent consumer confidence and lead to corporate cutbacks. As it has teetered, markets […]
NEW YORK (BLOOMBERG) – Blockchain.com, a creditor of Three Arrows Capital, said it was cooperating with ongoing investigations into the troubled crypto hedge fund. Blockchain.com and Deribit, a crypto derivatives exchange, confirmed that they were among creditors that sought for the liquidation of Three Arrows at a court in the British Virgin Islands, according to […]
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 […]
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 […]
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 […]
NEW YORK (NYTIMES) – For the past two years, anyone who had a home to sell in the United States could get practically any asking price. Good shape or bad, in cities and in exurbs, seemingly everything on the market had a line of eager buyers. Now, in just a few weeks, housing agents have gone from […]
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 […]
ATLANTA (BLOOMBERG) – Federal Reserve chair Jerome Powell said the United States economy is in “strong shape” and the central bank can reduce inflation to 2 per cent while maintaining a solid labour market, even though that task has become more challenging in recent months. He also vowed to ensure rapid price increases do not […]
BEIJING (BLOOMBERG) – China’s cut to quarantine times for inbound travellers is boosting sentiment, but the change will likely have a modest impact on the world’s second-largest economy unless more dramatic measures are taken. That is the view from economists, who are holding firm on their gross domestic product (GDP) growth forecasts for now after […]
MUMBAI (BLOOMBERG) – Indian billionaire Mukesh Ambani just got busy with the early stages of succession planning at his energy-to-technology conglomerate Reliance Industries, naming two of his offspring as chiefs of key units in his US$217 billion (S$301 billion) empire. On Tuesday (June 28), the 65-year-old tycoon made way for his first-born Akash Ambani to become […]
Cassidy Hutchinson, former aide to Trump White House chief of staff Mark Meadows, concludes her testimony as the House select committee investigating the Jan 6 attack on the US Capitol continues to reveal its findings of a year-long investigation, at the Capitol in Washington June 28, 2022. (JACQUELYN MARTIN / AP) WASHINGTON – Donald Trump […]
An employee wearing a face mask and gloves disinfects samples of cosmetics in a shopping center in Moscow, Russia, on June 2, 2020. (ALEXANDER ZEMLIANICHENKO JR / XINHUA) The law authorizes the Russian government to determine the list of goods that are subject to the new legislation MOSCOW – Russian President Vladimir Putin signed a […]
SINGAPORE (THE BUSINESS TIMES) – The High Court of Singapore has granted an application to place Nutryfarm International under judicial management, the company announced in a bourse filing on Tuesday (June 28). Mr Chan Yee Hong of liquidator Nexia TS Risk Advisory has been appointed as the mainboard-listed durian and health foods distributor’s judicial manager. […]
Cars with combustion engines are stored at a container terminal at the harbor in Hamburg, Germany on March 18, 2022. (MARTIN MEISSNER / AP PHOTO) LUXEMBOURG – EU countries clinched deals on proposed laws to combat climate change early Wednesday, backing a 2035 phase-out of new fossil fuel car sales and a multibillion-euro fund to […]
NATO Secretary General Jens Stoltenberg arrives for a media conference at NATO headquarters in Brussels, June 15, 2022. (OLIVIER MATTHYS / AP) NATO will dramatically increase the ranks of its high-readiness forces from 40,000 to 300,000 as part of the biggest overhaul of its collective deterrence and defense since the Cold War, the trans-Atlantic alliance's […]
Food and Drug Administration building is shown Thursday, Dec 10, 2020 in Silver Spring, Md. (MANUEL BALCE CENETA / AP) BELGRADE / MEXICO CITY – Advisers to the US Food and Drug Administration on Tuesday recommended a change in the design of COVID-19 booster shots this fall in order to combat more recently circulating variants of the […]
BANGALORE (REUTERS) – Bitcoin miners have been forced to tap their cryptocurrency stashes as a plunge in prices, rising energy costs and increased competition bite into profitability. The number of coins miners are sending to crypto exchanges has been steadily climbing since June 7, researchers at MacroHive noted, in a sign that “miners have been […]