European stocks rose at the open on Monday as traders balanced their concerns over a potential recession and its implications for interest rates against better than expected results from several of the biggest banks in the US. Europe’s region-wide Stoxx 600 added 0.4 per cent, Germany’s Dax also rose 0.4 per cent and London’s FTSE
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Sega Sammy, the Japanese gamesmaker behind the Sonic the Hedgehog franchise has launched a €706mn ($776mn) offer for Rovio Entertainment, the Finnish group that gave the world Angry Birds. The €9.25 a share offer values the mobile games pioneer at almost 20 per cent below the price at which Rovio went public five and a
U.S. Treasury Secretary Janet Yellen talked about the dangers that sanctions based on the U.S. dollar might pose for the hegemony of the currency in international markets. According to Yellen, the government tries to use sanctions “judiciously,” as they can create a desire to find alternatives to the U.S. dollar. U.S. Treasury Secretary Yellen Talks
The United States-based cryptocurrency exchange Bittrex is reportedly facing potential action from the U.S. securities regulators despite preparing to shut down local operations. The enforcement division of the U.S. Securities and Exchange Commission (SEC) is inclined to recommend the agency sue Bittrex over alleged violations related to investor protection, The Wall Street Journal reported on
Bitcoin (BTC) starts a new week under $30,000 as analysts’ predictions of a short-term support retest come true. The largest cryptocurrency saw a classic dive following its latest weekly close as the latest gains evaporated, but will they return? Ahead of a fairly innocuous week for macro data releases, catalysts are likely to come elsewhere
The government of China protested the enactment of sanctions on a series of national companies by the U.S., barring them from doing business with U.S.-based entities for allegedly collaborating with Russia. China’s Commerce Ministry criticized the move, saying it is a “typical form of long-arm jurisdiction,” which damages the rights and interests of these companies.
Over 1 million Ether (ETH) worth $2.1 billion has now been withdrawn from Ethereum’s Beacon Chain within the first four days of the Shapella hard fork and Ether has pushed over $2,100 for the first time in 11 months. The 1.03 million ETH withdrawals have come from 473,7000 withdrawal requests, with Saturday, April 15 being
A “temperature check” proposal to deploy the decentralized exchange (DEX) Aave on the zkSync Era Mainnet has passed with overwhelming support from the Aave community. When voting closed on April 16 more than 99% of Aave (AAVE) token holders voted in favor of launching the third version of the lending and borrowing protocol on the
Blockchain technology needs a benchmark communications standard that can be easily integrated by every network in order for a complete transition from Web2 to Web3 to occur, industry commentators say. Many expect there will be multiple blockchains and such an ecosystem requires communication protocols similar to the Transmission Control Protocol/Internet Protocol (TCP/IP) used on the
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: Inflation in Argentina goes over 100%, El Salvador issues its first digital assets licenses, and the crypto-linked corruption probe in Venezuela is still ongoing. Argentina Registers 104.3% Inflation In March,
The writer is a professor in the Institute for Housing and Urban Research at Uppsala University and author of ‘Our Lives in Their Portfolios: Why Asset Managers Own the World’ Amid all the recent turmoil in energy markets, a significant transaction went largely under the radar: the January 2023 acquisition of a controlling share of
Luiz Inácio Lula da Silva is in a hurry. Since he took office for a historic third term just over 100 days ago, the Brazilian leader has been desperate to stamp his mark on the presidency and undo the rightward shift that Latin America’s largest country took under his predecessor Jair Bolsonaro. In his four-year
Immigration is back, in the US at least. Over the past two and a half years, immigration into the American labour market has increased by 4mn workers, and the working age immigrant population has now finally reached its pre-pandemic trend level. This is likely to be a central factor in strong employment growth, particularly in
The 2008 financial crisis was a calamity for many, but for David Cameron and George Osborne, then leaders of the UK’s Conservative opposition party, it was also an opportunity. As the collapse of Lehman Brothers sent shockwaves through global finance and the UK nationalised several banks, Osborne devised a plan to dismantle the regulatory structure
You might think that bank regulators would be feeling a little jittery these days — in short order, three US lenders and the globally systemic Credit Suisse became victims of a not-so-mini-banking crisis that all too closely resembled the chaotic collapses of 2007-08. Instead, there is a quiet sense of satisfaction. The failures were contained
Global regulators are considering imposing tougher rules on smaller lenders and requiring all banks to ready themselves for faster runs on deposits as officials search for lessons from the recent turmoil that led to the failure of several midsized US institutions. The Basel Committee on Banking Supervision, which sets global standards, promised in March to
Securities and Exchange Commission (SEC) chair Gary Gensler could be facing unemployment after United States Representative Warren Davidson declared he would introduce legislation to fire the SEC boss. In an April 15 tweet responding to Coinbase’s legal chief, Paul Grewal, the crypto-friendly Representative announced his intention to have Gensler removed from his role after the
Brazil’s President Luiz Inacio Lula da Silva’s chief adviser on foreign policy, Celso Amorim, says China and Brazil “are coming closer together” and they could play important roles in building a less centralized world with no hegemony. Commenting on de-dollarization, he stressed: “I think it’s very important that we are free from the dominance of
Recent turmoil in the banking sector has shown that Bitcoin (BTC) and Ether (ETH) can withstand a shaky economy, outperform other asset classes and function like gold, says ARK Invest chief executive Cathie Wood — though one long-time investor still isn’t sold. Wood explained in an April 15 interview that Bitcoin’s resilience throughout the most
India: Several three-day meetings begin under India’s G20 presidency: the health working group gathers in Goa, the digital economy working group meets in Hyderabad and chief agricultural scientists convene in Varanasi. The two-day G20 Space Economy Leaders Meeting begins in Shillong. Prime Minister Narendra Modi travels to Somnath to inaugurate the Saurashtra Tamil Sangamam, a
China is starting to target western interests in the country after five years of snowballing trade and technology restrictions spearheaded by the US under presidents Donald Trump and Joe Biden. Over the past two months, Chinese officials have slapped new sanctions on US weapons companies Lockheed Martin and Raytheon, launched an investigation into US chipmaker