LONDON (Reuters) – Crypto lender Nexo said it has teamed up with global payments company Mastercard to launch on Wednesday what it calls the world’s first “crypto-backed” payment card. It signals the latest move by crypto and incumbent financial networks to join forces as digital assets become more mainstream. Nexo said the card, available in…
LONDON (AP) — British consumer prices rose at the fastest pace in 30 years last month, fueled by soaring costs for household energy and motor fuels — the latest grim figures as inflation surges around the world. Inflation in the United Kingdom accelerated to 7% in the 12 months through March, the highest annual rate…
By Rajesh Kumar Singh CHICAGO (Reuters) – Delta Air Lines Inc on Wednesday reported a quarterly loss, but forecast a return to profit in the current quarter as airline travel demand reaches record heights. The Atlanta-based company’s adjusted loss for the first quarter came in at $1.23 per share, compared with average analyst estimates of…
Delta Air Lines lost $940 million in the first quarter, hurt by a rise in fuel prices, but bookings surged in recent weeks, setting up a breakout summer as Americans try to put the pandemic behind them. Wall Street had expected the loss in a quarter marred by the omicron variant of COVID-19. Investors focused…
By Alexander Schummer TORONTO (Reuters) – Canada’s accelerated timeline to fully embrace electric vehicles (EVs) presents a threat to some auto suppliers and auto mechanics, with the latter pinning hopes on a key legislation to adapt to the changing needs of the industry. Last month, Justin Trudeau’s Liberal government set out a mandatory target for…
By Ron Bousso and Chen Aizhu LONDON/SINGAPORE (Reuters) – China’s top offshore oil and gas producer CNOOC Ltd. is preparing to exit its operations in Britain, Canada and the United States, because of concerns in Beijing the assets could become subject to Western sanctions, industry sources said. Ties between China and the West have long…
By Andrea Shalal WASHINGTON (Reuters) – The International Monetary Fund hopes to mobilize around $45 billion for a new trust to help a broader range of countries, including some middle-income economies, deal with climate change and other longer-term challenges, a paper prepared by IMF staff and reviewed by Reuters shows. The IMF’s executive board is…
(Reuters) – The Russian rouble stabilised near 80 per dollar on Wednesday and stock indexes were up slightly, losing momentum after weeks of jittery trade. Russian actions in Ukraine, which Moscow calls “a special military operation”, remained in focus, along with a risk of new western sanctions and expectations that the economy is heading for…
By Simon Jessop and Alun John LONDON (Reuters) – Global shares were little changed on Wednesday, pausing after a six-day slump amid a mixed inflation picture, while floundering peace talks between Russia and Ukraine kept oil hovering near recent highs. Hawkish moves from the world’s top central banks as the Russian invasion of Ukraine pumped…
BANGKOK (AP) — Asian shares were mostly higher Thursday after an advance on Wall Street that ended a three-day losing streak. Tokyo, Hong Kong and Shanghai advanced while Seoul edged lower. Oil prices fell back and U.S. futures climbed. Investors appeared to brush aside fresh evidence that inflation remains widespread in the U.S. economy in…
