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The EU and Germany have struck a landmark deal to prohibit new sales of fossil-fuel cars from 2035, as the bloc seeks to become “climate-neutral” by 2050 with net-zero greenhouse gas emissions.The agreement comes after Germany had blocked earlier drafts ...

Cryptocurrency prices fell on Monday morning after the Commodity Futures and Trading Commission (CFTC) initiated court filings against Binance, the biggest crypto exchange in the world, for allegedly flouting trading rules. The price of Bitcoin softened 3% to $26,955, while ...

US Treasury Secretary Janet Yellen, Federal Reserve Chairman Jerome Powell and a handful of other senior monetary officials called a special closed meeting of the Financial Stability Oversight Council (FSOC) last Friday. The Council deliberated over current banking conditions in ...

The Bank of England (BoE) has hiked interest rates by another quarter of a percentage point and says it anticipates the surge in inflation to cool faster than before despite a surprise jump in price growth last month.The UK’s central ...

Stocks around the globe rallied Tuesday as worries over the international banking sector abated in response to a raft of interventions by policymakers. The Dow Jones Industrial index was trading 0.5% higher in late morning trade, while the S&P 500 edged ...

The US Federal Reserve is broadly expected to hike interest rates by 25 basis points Wednesday,even as concerns about the US banking system persist.Markets also anticipate the central bank will release projections about the economy and the future path of ...

After early investor relief about efforts to stop a banking crisis quickly dissipated, shares of Credit Suisse and UBS slumped. Credit Suisse shares tanked 62% in premarket trade to a new low, while UBS lost 7.1%.Banking stocks and bonds in ...

The price of crude futures slumped to their lowest level in two years on concerns that trouble in the banking industry could spark a global recession and curtail fuel demand.Market players have increased purchases of put options of oil with ...

Swiss Bank Credit Suisse has endured a rocky few months as it tries to return to profitability through a complex restructure that will see it drop its investment banking unit while focusing on its key wealth management business. However, this ...

Argentina, the second-largest economy in South America, has reported an annual inflation above 100% for the first time in over three decades. The country’s government statistics agency announced that February’s inflation reading clocked 102.5%.This was the first time inflation had ...

The failure of Silicon Valley Bank (SVB), which was trying to gain more traction with Chinese tech start-ups, has caused widespread concern in the world’s second-largest economy. The founders andmanagement of at least a dozen prominent Chinese firms have rushed ...

Silicon Valley Bank collapsed last week, making it the second biggest bank failure in US history and the largest failure of any American financial institution since the height of the subprime financial crisis almost 15 years ago. The bank, the ...

This year’s rollercoaster ride for oil prices continues, with prices recovering from a brief sell-off to gain last week, driven by renewed optimism around demand from top oil importer China.Brent crude futures rose 1.4% to settle at $86 a barrel. ...

Bitcoin edged above $23,000 after Federal Reserve Chair Jerome Powell, speaking at an economics forum, said that inflation was lowering.The world’s biggest cryptocurrency climbed 1% to $23,236.80 while Ethereum rose 1.3% to $1,667.63. Bitcoin had been struggling to break back ...

China has announced its least ambitious GDP growth target in decades, a sign that the world’s second largest economy is facing significant domestic and global challenges. Economic officials announced a 2023 GDP growth target of just 5%, while acknowledging the ...