By Shariq Khan BENGALURU (Reuters) – Oil prices fell by $2 per barrel to their lowest in two weeks on Wednesday, as investors became more concerned that recent data will prompt more aggressive interest rate increases by central banks, pressuring economic growth and fuel demand. Brent crude futures settled $2.45, or 3%, lower at $80.60 […]
Cryptoverse: Tether tightens grip on wobbling world of stablecoins
reuters | February 21, 2023
By Medha Singh and Lisa Pauline Mattackal (Reuters) – The world of stablecoins is suddenly looking shaky. Seismic shifts may be afoot in the $137 billion market after New York-based Paxos Trust Company, which mints Binance’s stablecoin, said it would cease issuing new BUSD tokens after U.S. regulators labeled the asset an unregistered security. The […]
EU calls for fast-track crypto capital rules for banks
reuters | February 20, 2023
By Huw Jones LONDON (Reuters) – Tough capital rules for banks holding cryptoassets must be fast-tracked in the European Union’s pending banking law if Europe wants to avoid missing a globally-agreed deadline, the bloc’s executive has said. The global Basel Committee of banking regulators from the world’s main financial centers has set a January 2025 […]
Oil settles down $2/bbl, ends week lower on Fed worries, ample supply
reuters | February 18, 2023
By Laura Sanicola (Reuters) -Oil settled down $2 a barrel on Friday and ended the week markedly lower, as traders worried that future U.S. interest rate hikes could weigh on demand and got nervous about mounting signs of ample crude and fuel supply. On Thursday, two Fed officials warned additional hikes in borrowing costs are […]
New Biden EV charger rules stress Made In America, force Tesla changes
reuters | February 15, 2023
By Jarrett Renshaw and Hyunjoo Jin (Reuters) -The Biden administration on Wednesday issued long-awaited final rules on its national electric vehicle charger network that require the chargers to be built in the United States immediately, and with 55% of their cost coming from U.S.-made components by 2024. The White House hopes the new rules, issued […]
U.S. Gas Producers Skimped on Price Hedges and Now Face a Reckoning
reuters | February 14, 2023
By Arathy Somasekhar HOUSTON (Reuters) – A rout in natural gas prices will hurt first-quarter earnings and cash flows at gas producers as hedges – the industry’s version of price insurance – were inadequate to offset the expected losses, analysts and industry experts said. Producers starting the year with fewer hedges than historically will have […]
Binance stablecoin backer says U.S. SEC has labeled token an unregistered security
reuters | February 14, 2023
By Hannah Lang, Tom Wilson and Elizabeth Howcroft WASHINGTON/LONDON (Reuters) – The firm behind Binance’s stablecoin, Paxos Trust Company, said the U.S. Securities and Exchange Commission (SEC) has told the company it should have registered the product as a security and is considering taking action against the platform. In a statement on Monday, Paxos said […]
U.S. weekly jobless claims increase, labor market still tight
reuters | February 9, 2023
WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits increased more than expected last week, but remained at levels consistent with a tight labor market. Initial claims for state unemployment benefits rose 13,000 to a seasonally adjusted 196,000 for the week ended Feb. 4, the Labor Department said on Thursday. Economists […]
Ukraine’s parliament amends 2023 budget, raises spending
reuters | February 7, 2023
KYIV (Reuters) – Ukraine’s parliament approved changes to the 2023 state budget on Tuesday, raising state spending to support small businesses and channel more funds into reconstruction and recovery projects following Russia’s invasion. Roksolana Pidlasa, the head of the parliamentary budget committee, said spending had been increased by 5.5 billion hryvnias ($150 million). The increase […]
Global airline traffic last year rebounds to over half of pre-pandemic levels
reuters | February 6, 2023
By Joanna Plucinska LONDON (Reuters) -Global airline traffic recovered to 68.5% of pre-pandemic levels last year and surged 64.4% from 2021, according to figures published by global aviation body IATA on Monday. Airlines lost tens of billions of dollars in 2020 and 2021 due to the COVID-19 pandemic and saw the first signs of relief […]