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Cryptocurrencies, including Bitcoin, are not just a bad trade of late—they’ve violated some of the most cherished beliefs about the instruments.
(Bloomberg) -- One morning in early June, a fire broke out at an obscure facility in Texas that takes natural gas from US shale basins, chills it into a liquid and ships it overseas. It was extinguished in 40 minutes or so. No one was injured.Most Read from BloombergPerson of Interest in July 4 Parade Shooting That Killed Six in Police CustodyBezos Slams Biden Over Call for Lowering of Gas PricesTesla Pauses Plants After Ending Shaky Quarter With a Production MilestoneUkraine Latest: Kyiv’s Imme
City banks defy Brussels to out-earn French rivals PM urged to back bid for factory at heart of Britain’s food supply FTSE 100 rises 1pc Matthew Lynn: Biden’s global tax plan is sinking rapidly — and good riddance Sign up here for our daily business briefing newsletter
John Hood column: Will Joe Biden Really Go Stag?
Following disappointing trade data from Germany, economic sentiment figures and ECB central bankers will influence the EUR/USD pair later today.
BEIJING (Reuters) -China will set up a state infrastructure investment fund worth 500 billion yuan ($74.69 billion) to spur infrastructure spending and revive a flagging economy, two people with knowledge of the matter told Reuters on Tuesday. China's economy has started a slow recovery from the supply shocks caused by extensive lockdowns since the second quarter, although headwinds to growth persist, including from a still subdued property market, soft consumer spending and fear of any recurring waves of infections. China has unveiled a raft of economic support measures in recent weeks, although analysts say the official gross domestic product target of around 5.5% for this year will be hard to achieve without doing away with its strict zero-COVID strategy.
Asian shares advanced Monday across the board as buying set in after the lull of a U.S. national holiday.
(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Most Read from BloombergPerson of Interest in July 4 Parade Shooting That Killed Six in Police CustodyBezos Slams Biden Over Call for Lowering of Gas PricesTesla Pauses Plants After Ending Shaky Quarter With a Production MilestoneUkraine Latest: Kyiv’s Immediate Funding Needs Hit $65 BillionBiden Close to Rollback of Chinese Tariffs to Fight InflationAustralia’s central bank delivered i
(Bloomberg) -- Senior US and Chinese officials discussed US economic sanctions and tariffs Tuesday amid reports the Biden administration is close to rolling back some of the trade levies imposed by former President Donald Trump.Most Read from BloombergPerson of Interest in July 4 Parade Shooting That Killed Six in Police CustodyBezos Slams Biden Over Call for Lowering of Gas PricesTesla Pauses Plants After Ending Shaky Quarter With a Production MilestoneUkraine Latest: Kyiv’s Immediate Funding N
(Bloomberg) -- Many major economies will enter recessions over the next 12 months amid tightening government policies and rising living costs, pushing the global economy into a synchronized growth slowdown, according to Nomura Holdings Inc.Most Read from BloombergBezos Slams Biden Over Call for Lowering of Gas PricesLong, Moderate and Painful: What Next US Recession May Look LikeUS Court Ruling May Take 70,000 Truckers Off Road, Spur JamsJPMorgan Sees ‘Stratospheric’ $380 Oil on Worst-Case Russi
The pullback in futures suggested the U.S. stock market, which is closed Monday for Independence Day, could come under renewed pressure Tuesday.
The manufacturing sector in Australia continued to expand in June, the latest survey from S&P Global showed, while U.S. manufacturing PMI contracted.
Nomura warned of a recession in the eurozone, U.K. and Asia Pacific, which could affect crypto prices.
Inflation data released last week was mixed. It certainly wasn’t the “clear and convincing” evidence of cooling prices that the Federal Reserve has been looking for.
(Bloomberg) -- The slump in the Japanese yen, the war in Ukraine and a heatwave in Tokyo are pushing the world’s third-biggest economy toward a full-blown energy crisis.Most Read from BloombergPerson of Interest in July 4 Parade Shooting That Killed Six in Police CustodyBezos Slams Biden Over Call for Lowering of Gas PricesTesla Pauses Plants After Ending Shaky Quarter With a Production MilestoneUkraine Latest: Kyiv’s Immediate Funding Needs Hit $65 BillionBiden Close to Rollback of Chinese Tari
Amazon’s founder said the president’s push is “misdirection.” The White House rejected the criticism.
"Most businesses anticipate inflation will be more than 3 per cent on average over the next two years," said the Bank of Canada.
(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Most Read from BloombergPerson of Interest in July 4 Parade Shooting That Killed Six in Police CustodyBezos Slams Biden Over Call for Lowering of Gas PricesTesla Pauses Plants After Ending Shaky Quarter With a Production MilestoneUS Futures, European Bonds Drop on Economic Woes: Markets WrapUkraine Latest: Kyiv’s Immediate Funding Needs Hit $65 BillionOne of the world’s worst inflation
Japan's government has revised up its estimates of national tax revenue from the last fiscal year ended in March, as a weak yen and economic recovery from the pandemic helped boost big firms' profits, a draft seen by Reuters showed on Monday. The fiscal 2021 tax revenue was likely to come to 67.0 trillion yen ($496.15 billion), a record for a second straight year, with the three major tax revenues from the sales tax, corporate tax and income tax, all revised up from earlier estimates. Bigger-than-expected tax revenues tend to prompt lawmakers to call for more spending to support a fragile economic recovery, as they would likely result in more unused budget.
Rising inflation and fears of a recession drove down Massachusetts employers' economic outlook for the second straight month in June, according to a new survey. The drop in business confidence mirrors recent state and national surveys.
BUENOS AIRES (Reuters) -Argentina's new economy minister Silvina Batakis was sworn in on Monday and quickly moved to calm markets that slid after the shock resignation of her predecessor on fears his exit would spark a shift towards more populist policies and state spending. The closely watched black market peso plunged around 8% as people flocked to popular parallel foreign exchange markets to buy dollars after the abrupt exit on Saturday of moderate and long-standing economy minister Martin Guzman. "I believe in fiscal balance and I think we have to move in that direction," she said in her first comments.
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