The Nub Losses loom for Asia’s stock market on Monday as investors absorb Federal Reserve Chair Jerome Powell’s stern message that interest rates are going higher for longer in a painful fight against inflation. Futures shed almost 2% for Japan and 1.5% for Australia after a 3.4% plunge in the S&P 500 index. The slide …
The Nub Bitcoin dropped below $20,000 Saturday—trading at its lowest levels in over a month—after stocks sold off sharply Friday as investors pulled back from risky assets amid renewed concerns the Federal Reserve’s efforts to fight inflation could tip the economy into recession. Why Does it Matter Low interest rates and government stimulus during the …
The Nub Not since 1997 have central bankers gathering in Jackson Hole, Wyoming been this worried about Asia. No serious economist thinks President Xi Jinping’s economy will get anywhere near this year’s 5.5% growth target. In fact, the 0.4% expansion China eked out in the April-June quarter year-on-year suggests it will be lucky to get …
The Nub CoinSwitch, the unicorn crypto app, on Saturday said it is cooperating with the Enforcement Directorate (ED) while the central agency searches the company’s office. ED agents further inquired about CoinSwitch’s foreign investments, income and outflows to check on compliance and seized financial documents, the source told the news agency. Why Does it Matter …
The Nub Stock markets in the US ended the week sharply down following tough comments by the head of the country's central bank, the Federal Reserve. The bank's chairman, Jerome Powell, said the bank must continue to raise interest rates to stop inflation from becoming a permanent aspect of the US economy. Why Does it …
The Nub Google's Jigsaw subsidiary will launch a campaign next week to tackle disinformation in Poland, Slovakia and the Czech Republic about Ukrainian refugees based on research by psychologists at two British universities. Why Does it Matter The research was spread over seven experiments, including with a group of Americans over 18 years old who …
The Nub The State Council, China’s Cabinet, outlined a 19-point policy package on Wednesday, including another 300 billion yuan that state policy banks can invest in infrastructure projects, on top of 300 billion yuan already announced at the end of June. Local governments will be allocated 500 billion yuan of special bonds from previously unused …
The Nub An Asian stock index rose on Thursday as investors evaluated China’s latest steps to shore up its economy and awaited a key speech by Federal Reserve Chair Jerome Powell about the monetary policy outlook. Why Does it Matter The regional gauge added about 0.5%, helped by gains in Japan. Morning trading in Hong …
The Nub A non-cash write-down refers to a transaction that does not involve a cash payment. It can represent meaningful changes to a company’s financial standing, weighing on earnings without affecting short-term capital in any way. The transaction has been structured in such a way that the buyers, Farfetch and Symphony Global – an investment …
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