Asian shares hovered near 1-1/2 week highs on Monday helped by expectations monetary policy will remain accommodative the world over, while COVID-19 vaccine rollouts help ease fears of another dangerous wave of coronavirus infections. MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was last at 695.59, within striking distance of Friday’s high of 696.48 […]
Dutch bank ABN Amro on Monday said it had reached a 480-million-euro ($574 million) settlement with prosecutors in the Netherlands over money laundering allegations, which will impact its first-quarter results. ABN Amro said in a statement it had agreed to pay a fine of 300 million euros and 180 million euros as disgorgement reflecting “the […]
Audio-chat app Clubhouse closed a new Series C round of financing, the company said during its weekly town hall on Sunday, without disclosing the amount raised. A source familiar with the matter confirmed to Reuters that the new financing would value the company at $4 billion. The social media app said the new round of […]
The oil and gas sector is currently enjoying a mini-boom cycle as economies gradually re-open and oil demand begins to return to a semblance of normalcy. The oil markets are in an upbeat mood once again, with oil futures trading sharply higher on Wednesday after the U.S. government reported a third-weekly drop in weekly inventories […]
Ant Group denied a report that the Chinese finance-technology company is exploring ways for founder Jack Ma to sell his stake and give up control as a means to ease pressure from the country’s regulators. Reuters reported earlier that officials from the People’s Bank of China and the China Banking and Insurance Regulatory Commission held […]
The man known as “Roaring Kitty” on social media, whose online posts helped spark January’s trading frenzy in GameStop Corp (GME.N), exercised call options on the stock to acquire 50,000 more shares at a strike price of $12, Bloomberg reported. Bloomberg cited a screenshot of Keith Gill’s portfolio showing that he exercised 500 GameStop call […]
The European Central Bank published this week the results of a public consultation on a digital euro. Half of the respondents, most of whom are German men, said that blockchain would resolve counterfeiting and technical glitches, and most want a digital euro that respects their privacy. The results aren’t binding, but still “provide valuable input […]
China’s economic recovery quickened sharply in the first quarter to record growth of 18.3 percent from last year’s deep coronavirus slump, propelled by stronger demand at home and abroad and continued government support for smaller firms. But the brisk expansion, heavily skewed by the plunge in activity a year earlier, is expected to moderate later […]
General Motors and South Korea’s LG Chem will invest more than $2.3 billion in a second U.S. battery cell plant for electric vehicles in Tennessee, the companies announced Friday. The plant for their Ultium Cells LLC joint venture will be to support production of GM’s upcoming Cadillac Lyriq crossover and other future EVs at a […]
The recovery from the pandemic is quickly accelerating, at least based on red-hot demand in the oil market. The International Energy Agency and OPEC forecast bullish demand for oil in 2021 – the IEA this week said producers may need to increase supply by 2 million barrels per day to catch up to demand, while […]
To those of us who have been in the industry for a long time, Dogecoin has always been an oddity: A project that has exceptional approachability and appeal to new users while lacking most of the characteristics that make cryptocurrencies useful or valuable. Created in 2013 by Jackson Palmer and Billy Markus, the project was […]
This week both gold and silver had substantial gains as multiple events were highly supportive of the safe-haven asset class. Rising geopolitical tensions, recent drops in the yield of 10-year Treasury notes, dollar weakness, a highly accommodative Federal Reserve and concern about the rising national debt all collectively moved gold and silver to multiweek highs. […]
