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Binance Plans to Acquire Rival FTX as Crypto Industry Struggles

Binance Plans to Acquire Rival FTX as Crypto Industry Struggles

13
Cryptocurrency news
08.11.2022

Crypto giant Binance has signed a non-binding agreement to buy its major rival, US-based FTX.com. The latter-mentioned cryptocurrency exchange had been undergoing a dangerous liquidity crunch that placed its clients’ funds at risk.Binance, the world'...

China’s Exports Fall as Global Slowdown Hurts Demand

China’s Exports Fall as Global Slowdown Hurts Demand

14
Economy news
07.11.2022

China’s exports and imports unexpectedly fell in October, the first drop in both measures since May 2020, as soaring inflation and surging interest rates buffeted global demand.Grim trade figures released in October highlight the challenge for policy...

Canada Posts Big Job Gains in October

Canada Posts Big Job Gains in October

10
Economy news
06.11.2022

The Canadian economy recorded a massive job gain in October, coming in 10 times higher than expected, with the jobless rate remaining unchanged. The positive news came a week after a lower-than-expected interest rate hike by the Bank of Canada (BOC)....

Bank of England (BOE) Delivers Biggest Interest Rate Hike In 33 Years

Bank of England (BOE) Delivers Biggest Interest Rate Hike In 33 Years

14
Economy news
03.11.2022

The BOE moved this week to boost its key interest rate to 3%, up from 2.25%, marking a whopping 75-basis-point rate hike. This came after consumer price inflation returned to a 40-year high in September.The UK’s central bank has warned that the count...

Japan's Stealthy Yen Moves Designed for Maximum Impact

Japan's Stealthy Yen Moves Designed for Maximum Impact

11
FOREX news
02.11.2022

The Japanese government spent a record $43 billion supporting the yen in October. Finance Minister Shunichi Suzuki said the interventions were designed to be stealthy, in an attempt to maximize their effects.The Japanese finance ministry and central...

Wheat and Corn Prices Soar After Russia Quits Grain Deal

Wheat and Corn Prices Soar After Russia Quits Grain Deal

13
Stocks news
01.11.2022

Consumer price growth in the 19 countries that use the euro has raced to 10.7% in October from 9.9% in September. This latest data is putting pressure on the European Central Bank (ECB) to act more aggressively to tackle inflation.A key inflationary...

Eurozone Inflation Leaps to Record 10.7 Percent

Eurozone Inflation Leaps to Record 10.7 Percent

10
Economy news
31.10.2022

Consumer price growth in the 19 countries that use the euro has raced to 10.7% in October from 9.9% in September. This latest data is putting pressure on the European Central Bank (ECB) to act more aggressively to tackle inflation.A key inflationary...

Bank of Canada Dials Back on Interest Rate Hikes

Bank of Canada Dials Back on Interest Rate Hikes

12
Economy news
30.10.2022

While the Bank of Canada (BoC) once again hiked interest rates last week, its latest increase of 50 basis points was lower than the expected 75 basis points. It is the sixth-rate hike since March and brings the country’s official interest rate up to...

China’s Yuan Weakens

China’s Yuan Weakens

14
Economy news
27.10.2022

After months of trying to energize the yuan, the People’s Bank of China has exhausted most of its policy tools, leaving it with some hard choices.The yuan now trades at 7.24 against the US dollar, a softer position brought on by a 12% rally in the Am...

Australian Inflation Races To 32-Year High

Australian Inflation Races To 32-Year High

13
Economy news
26.10.2022

Inflation in Australia soared to a 32-year high in the last quarter as the cost of living continued to climb. Prices for gas and construction items skyrocketed, surprising analysts and renewing calls for a return to more aggressive rate hikes by the...

US Consumer Confidence Takes a Dip in October

US Consumer Confidence Takes a Dip in October

34
Economy news
25.10.2022

US consumer confidence weakened in October as renewed concerns about inflation dented the near-term consumer outlook. This came after a slight improvement in consumer sentiment over the prior two months.The Conference Board reported this week that it...

Inflation In Sri Lanka Hits Record 74%

Inflation In Sri Lanka Hits Record 74%

5
Economy news
24.10.2022

Sri Lanka’s National Consumer Price Index soared to a new high of 74% in September from a year earlier, up from 70% in August, the country’s statistics office said.Annual food price inflation increased to 86% from 84% in August while prices of non-fo...

Continued Turmoil in UK Economy

Continued Turmoil in UK Economy

21
Economy news
20.10.2022

It has been a turbulent week for the UK, both economically and politically. The headline news is, of course, the resignation of embattled prime minister Liz Truss, but that should not distract from the gloom facing the economy.Figures released this w...

Strong Dollar Spreads Global Pain

Strong Dollar Spreads Global Pain

16
FOREX news
19.10.2022

A powerful US dollar is making currencies around the world weaker and contributing to soaring prices of basic goods and services. The dollar has gained 18% this year, and in September hit a 20-year high, according to the benchmark US Dollar Index tha...

Trains Canceled as Nationwide Strikes Affect France

Trains Canceled as Nationwide Strikes Affect France

16
Economy news
18.10.2022

The cost of living in France is becoming unbearable, with electricity bills surging because of a cut in Russian natural gas supplies that has sparked an energy crisis in Europe. Against this backdrop, tens of thousands of people took to the stre...