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US fashion retailer Abercrombie & Fitch delivered a net loss of $14.8 million for its first fiscal quarter, causing a whopping share price drop of 29%. The company said that logistics and product costs were weighing down sales. The apparel ...

Central bankers meeting at a roundtable discussion at Davos, organized by the World Economic Forum (WEF), have questioned crypto’s place in the global economy.  Some of the comments emanating from a panel of central bankers and regulators are that stablecoins ...

In April, China's monthly imports from Russia hit a record high of US$8.9 billion. This was an increase of 57% from the year before and 13% higher than March. At face value, it may appear that China is importing more ...

India is working on developing a digital version of the rupee. It becomes the latest nation to join the push to create a state-backed virtual currency. The country's central bank hopes to launch the digital currency in the new fiscal ...

Inflation in the UK leapt to its highest annual rate since 1982, putting severe pressure on Finance Minister Rishi Sunak to do more to help families facing a cost-of-living crisis. Consumer price inflation touched 9% in April, recalling the peaks ...

Japan's economy contracted for the first time in two quarters, as COVID-19 curbs affected the performance of the services sector, and the Ukraine war continued to inflate commodity prices and create headaches for consumers.  The world’s third-largest economy fell at ...

McDonald's opened its first restaurant in Moscow 30 years ago, but, after temporarily shutting down more than 800 restaurants following the invasion of Ukraine, the company has decided to exit Russia altogether. However, leaving the country will not come cheap. ...

China has posted troubling economic data for April, revealing the severe damage COVID lockdowns have wreaked on the country. The world's second largest economy reported alarming drops in retail sales and manufacturing production, falling short of many market predictions. Retail ...

Tether, the world’s biggest stablecoin that pegs its value one-to-one with the US dollar, is losing value and can no longer maintain its equal pegging.  Stablecoins are usually a place of safety for crypto investors during times of turbulence. With ...

Several business groups in Sri Lanka have asked the president to install a new government and resign immediately thereafter. With little more than $50 million in foreign exchange reserves, Sri Lanka is basically bankrupt and dependent on external aid and ...

In another blow to the embattled US economy, prices at the pump climbed to new record highs. The national average price for regular gasoline soared more than four cents on Tuesday to $4.37 a gallon, beating the prior record of ...

Bitcoin fell 10% on Monday after plunging again over the weekend. The industry standard cryptocurreny’s price has now dropped almost 20% in the past week.  Now sitting at a price just below $31,000, Bitcoin is more than 50% below its ...

The US Justice Department has indicted Mining Capital Coin (MCC) CEO Luiz Capuci Jr. for “allegedly orchestrating a $62 million global investment fraud scheme,” the federal agency said last Friday. MCC is a cryptocurrency mining and investment platform. Authorities allege ...

The European Commission has proposed a sixth round of sanctions against Russia over its attack on Ukraine. The new restrictions include a plan to phase out all crude and oil products by the end of the year. Sanctions have so ...

The US Federal Reserve announced an interest rate hike of a half-percentage point in an attempt to take control of the worst inflation America has seen in 40 years. The central bank has not hiked rates this much in 22 ...