Big business isn’t waiting on Washington to regulate crypto. They’re already figuring out how to use crypto to improve operations — all within current laws. “They’re saying how do we do this in bounds?” Rob Massey, partner and global tax leader at Deloitte & Touche, which advises businesses on how to […]
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Euro Zone Economic Recovery in Danger as Services Slide | Investing News
LONDON (Reuters) – Euro zone business growth ground to a halt this month, throwing the economic recovery into question, as fresh restrictions to quell a resurgence in coronavirus infections slammed the services industry into reverse, a survey showed on Wednesday. The renewed downturn in the dominant services sector, which is […]
Japan’s Worst Postwar Economic Downturn Could Force New Leader to Boost Stimulus | Investing News
By Leika Kihara and Daniel Leussink TOKYO (Reuters) – Japan’s economy sank deeper into its worst postwar contraction in the second quarter as the coronavirus jolted businesses more than initially thought, underscoring the daunting task the new prime minister faces in averting a steeper recession. Other data put that challenge […]
Goldman Sachs Joins Syndicate for Ant IPO of up to $30 Billion, Say Sources | Investing News
By Julie Zhu, Kane Wu and Scott Murdoch HONG KONG (Reuters) – Goldman Sachs has joined the growing list of investment banks working on Chinese financial technology firm Ant Group’s mammoth initial public offering of up to $30 billion, two people with direct knowledge of the matter said. Ant, backed […]
Canada’s TSX Posts Biggest Weekly Loss Since June, C$ Rises After Jobs Gain | Investing News
TORONTO (Reuters) – Canada’s main stock market index fell on Friday, taking its weekly loss to nearly 3{5667a53774e7bc9e4190cccc01624aae270829869c681dac1da167613dca7d05}, as a selloff in high-flying technology shares continued, while the Canadian dollar rallied as domestic jobs data added to evidence of economic recovery. The Toronto Stock Exchange’s S&P/TSX composite index <.GSPTSE> closed […]
Euro Zone Recovery Lost Momentum in August as Economies Diverge | Investing News
LONDON (Reuters) – The euro zone’s rebound from its deepest economic downturn on record faltered in August, surveys showed on Thursday, with some countries in the bloc suffering more than others from restrictions imposed to limit the spread of the coronavirus. Overall growth in the dominant service industry – which […]
Up, Down and Sideways: a Voter’s Guide to U.S. Economic Data | Investing News
(Reuters) – In the countdown to the Nov. 3 U.S. presidential election, the state of the economy is a key concern for many voters. Americans face a barrage of data, from this Friday’s monthly jobs report to what in all likelihood will be a blockbuster economic activity scorecard a mere […]
Australia Records Worst Economic Slump as Pandemic Ends Golden Run | Investing News
SYDNEY (Reuters) – Australia fell into its deepest economic slump on record last quarter as coronavirus curbs paralysed business activity, while fresh outbreaks threaten to upend any immediate recovery, piling pressure on the government to keep fiscal taps open. Data from the Australian Bureau of Statistics on Wednesday showed the […]
UK’s Euro Clearing Access to EU Requires Careful Analysis Post Brexit: ECB Official | Investing News
LONDON(Reuters) – Detailed analysis is needed before the European Union can decide on long-term access for the London Stock Exchange to clear euro denominated derivatives for customers in the bloc, a European Central Bank official said on Wednesday. The LSE dominates euro derivatives clearing and EU policymakers have called for […]
Exclusive: EU Draft Plan Targets Free Carbon Credit Cut for Most Industries | Investing News
BRUSSELS (Reuters) – Most industries covered by the European Union’s carbon market would see free credits cut by the highest possible rate over the next five years under draft plans, potentially costing some of the biggest polluters millions of euros. The carbon market is the EU’s main policy for cutting greenhouse […]
Climate Change Bigger Economic Risk Than Pandemic, ECB’s Schnabel Says | Investing News
By Balazs Koranyi and Frank Siebelt FRANKFURT (Reuters) – The coronavirus pandemic demonstrates in the clearest terms why central banks must take a bigger role in fighting climate change even if the issue at first appears unrelated to monetary policy, European Central Bank board member Isabel Schnabel said. Initially just […]
Thailand’s New Finance Minister Resigns Amid Economic Crisis | Investing News
By Orathai Sriring and Panu Wongcha-um BANGKOK (Reuters) – Thailand’s recently appointed finance minister, Predee Daochai, has resigned as the government struggles to pull Southeast Asia’s second-largest economy out of a slump caused by the coronavirus pandemic. The banking veteran took office just last month as Prime Minister Prayuth Chan-ocha […]