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Latest Financial and Business News

  • World
    Reuters

    UPDATE 1-Britain's deputy PM defends Israel but calls for humanitarian ceasefire in Gaza

    Britain's deputy prime minister defended on Tuesday Israel's right to protect itself amid growing tension between the Middle Eastern country and its biggest backers, but called for an "immediate ceasefire" in Gaza on humanitarian grounds. Oliver Dowden said the British government was "continuously" urging Israel to abide by international humanitarian law and had also raised concerns about getting aid into Gaza, where a humanitarian crisis is raging after six months of fighting. Dowden's comments came in response to a query about tension between Israel and its most steadfast allies in the United States over Prime Minister Benjamin Netanyahu's handling of the war, particularly an expected military push into Rafah, the last relatively safe place in the tiny, crowded enclave.

  • Business
    Reuters

    Uber-backed startup Moove valued at $750 million after new funding

    Moove, which was founded in Nigeria and provides revenue-based vehicle financing, said on Tuesday it had raised $100 million in a latest funding round, valuing the company at $750 million. Launched in 2020, Moove uses a credit scoring system to provide vehicle financing to customers to purchase new vehicles for ride hailing, logistics and deliveries using a percentage of their weekly revenue. The Series B funding was backed by Uber and existing investors like Mubadala, which backed Moove in last year's round.

  • Business
    Reuters

    FOREX-Yen falls in defiance of historic BOJ shift; dollar firm

    The Japanese yen tumbled on Tuesday after the central bank made the momentous, but widely anticipated, decision to end its negative interest rate policy, while the dollar rose ahead of the upcoming Federal Reserve decision on rates. In an historic shift from decades of massive monetary stimulus, the Bank of Japan (BOJ) ended eight years of negative interest rates and other remnants of unorthodox policy at the conclusion of a two-day policy meeting. Still, the yen dropped by as much as 1% and weakened past 150 to the dollar after the news, as most investors had already priced in a change.