Wall Street falls as Fed minutes send bond yields higher
US stocks closed lower on Wednesday in a rocky session after the release of the minutes from the Federal...
Bitcoin nearly doubles in value from year’s low hit in early February
Bitcoin hit a three-week high on Tuesday and has surged nearly 100 percent from its lowest level this year,...
Oxfam says former Haiti director admitted hiring sex workers
The former Oxfam country director at the centre of a prostitution scandal admitted to paying for sex at his...
Wall Street falls as Fed minutes send bond yields higher
US stocks closed lower on Wednesday in a rocky session after the release of the minutes from the Federal Reserve’s January meeting pushed yields on the benchmark 10-year US Treasury note to a four-year high. After the Fed left interest rates unchanged in January, minutes showed the US central... Read more
Bitcoin nearly doubles in value from year’s low hit in early February
Bitcoin hit a three-week high on Tuesday and has surged nearly 100 percent from its lowest level this year, as its recovery continued after South Korea’s financial regulator eased its stance on cryptocurrencies, weeks after it considered shutting down digital currency exchanges. Analysts cited South Korean news agency Yonhap,... Read more
Oxfam says former Haiti director admitted hiring sex workers
The former Oxfam country director at the centre of a prostitution scandal admitted to paying for sex at his charity-funded residence during an internal inquiry into the allegations, a report released Monday by the British organisation said. Roland van Hauwermeiren, who led Oxfam’s team in Haiti, was one of... Read more
Iran deepens freight discount to boost oil sales to India: sources
Iran has offered to raise the freight discount on oil sales to India in return for New Delhi agreeing to boost imports, as the Organization of the Petroleum Exporting Countries (OPEC) member is keen to eat into the market share of other producers including top rivals Saudi Arabia and... Read more
World stocks post best week in two years, dollar climbs
The dollar rose and stocks around the globe rallied for a sixth straight session on Friday to post their best week in more than two years, but a US indictment over alleged Russian meddling in the 2016 presidential election cooled gains on Wall Street. The 37-page indictment of a... Read more
Walmart in talks to buy more than 40 per cent of India’s Flipkart: sources
Walmart Inc is in talks to purchase a stake of more than 40 per cent in Indian e-commerce firm Flipkart, a direct challenge to Amazon.com Inc in Asia’s third-largest economy, two sources familiar with the matter said on Friday. In what would be one of its biggest overseas deals,... Read more
Suspected Austria bitcoin fraud sparks Europe-wide probe
Authorities investigating a suspected bitcoin-related scam centred in Austria have asked Interpol to help determine whether there might be perpetrators – and victims – of the scheme across Europe. “Hundreds” of people across Austria have complained of being defrauded by the “Optioment” scheme dealing in the digital currency, Christina... Read more
Dollar weakens despite rise in interest rate expectations
The US dollar fell on Wednesday despite a report of stronger-than-expected inflation data and an increase in interest-rate expectations, raising the possibility that the currency is in a period of secular downturn. “We are in an environment where the dollar is weakening regardless of the move in interest rates,”... Read more
India explores ‘cheap power’ sales to neighbours
India is exploring selling “cheap power” to its South Asian neighbours and Myanmar on a long-term basis and wants state utility NTPC to expand overseas, its power minister said on Tuesday. Indian companies such as Reliance Power Ltd and Adani Power Ltd have already signed agreements to supply power... Read more
German court rules Facebook use of personal data illegal
A German consumer rights group said on Monday that a court had found Facebook’s use of personal data to be illegal because the US social media platform did not adequately secure the informed consent of its users. The verdict, from a Berlin regional court, comes as Big Tech faces... Read more
IMF chief urges Arab states to slash spending
IMF chief Christine Lagarde on Saturday urged Arab countries to slash public wages and subsidies in order to rein in spending, achieve sustainable growth and create jobs. Speaking at the one-day Arab Fiscal Forum in Dubai, Lagarde welcomed “promising” reforms adopted by some Arab countries, but insisted much more... Read more
Bangladesh to sue Manila bank over $81-million heist
Bangladesh’s central bank will file a lawsuit against a Philippines bank over its role in one of the world’s biggest cyber-heists two years ago, a deputy governor said on Wednesday. Unidentified hackers stole $81 million from Bangladesh Bank’s account at the New York Fed in February 2016, using fraudulent... Read more
Asian markets plunge as Wall Street rout spreads
Asian stocks plunged Tuesday after a record-breaking loss on Wall Street, extending a global rout as panicked investors fret over rising US borrowing costs and cash in profits after months of market euphoria. Tokyo led a collapse throughout the region, diving more than five percent, with Hong Kong down... Read more
Samsung scion Lee walks free after jail term suspended, faces leadership challenges
Samsung Group heir Jay Y. Lee left a South Korean jail a free man on Monday after a panel of judges suspended his sentence, a surprise decision that sent shockwaves through the country’s political and business establishments. Coming just days before South Koreans gather to host the Winter Olympics,... Read more