NEW YORK (AP) — It’s been a wild week in crypto, even by crypto standards. Bitcoin tumbled, stablecoins were anything but stable and one of the crypto industry’s highest-profile companies lost a third of its market value. Here’s a look at some major developments in cryptocurrencies this week: BITCOIN The price of bitcoin dropped to…
MEXICO CITY (AP) — No item is more essential to Mexican dinner tables than the corn tortilla. But the burst of inflation that is engulfing Latin America and the rest of the world means that people like Alicia García, a cleaner at a restaurant in Mexico City, have had to cut back. Months ago, García,…
(Reuters) -Abbott Laboratories said on Friday it has air shipped millions of cans of infant formula powder into the United States from its facility in Ireland to address shortages here as it tries to reopen its Michigan manufacturing plant. The company said in a blog https://www.abbott.com/corpnewsroom/nutrition-health-and-wellness/abbott-update-on-powder-formula-recall.html it was shipping infant formula produced at its Cootehill,…
By Nivedita Balu and Kenneth Li (Reuters) -Elon Musk tweeted on Friday that his $44-billion cash deal for Twitter Inc was “temporarily on hold” while he waits for the social media company to provide data on the proportion of its fake accounts. Twitter shares initially fell more than 20% in premarket trading, but after Musk,…
LONDON (Reuters) – Elon Musk on Friday put his $44-billion deal for Twitter Inc temporarily on hold, sending the social media company’s shares some 20% lower in pre-market trading and on the Frankfurt stock exchange. Below are analysts’ reactions to the announcement. PETER TUZ, PRESIDENT, CHASE INVESTMENT COUNSEL, CHARLOTTESVILLE, VIRGINIA “I consider the Musk/Twitter episode…
By Noah Browning LONDON (Reuters) – The world will not be left short of oil even with lower output from sanctions-hit Russia, the International Energy Agency (IEA) said on Thursday, after it cut its predictions for supply losses from the world’s No.2 exporter for the second straight month. The IEA is now forecasting that 1…
LONDON (AP) — Northern Ireland’s second-biggest political party on Friday blocked the formation of a working legislature in Belfast, and said it would keep up the boycott until the U.K. government tears up post-Brexit trade rules it accuses of destabilizing the region. The Democratic Unionist Party’s move deepens Northern Ireland’s political deadlock, which is fueling…
By Elizabeth Dilts Marshall NEW YORK (Reuters) – Global shares rose on Friday and investor sentiment stabilized after a volatile week of trading, helping to push up stock indexes in the United States and Europe. Global markets, particularly U.S. stocks, have gyrated wildly this week as investors grew anxious about the possibility of recession. The…
By Devik Jain and Bansari Mayur Kamdar (Reuters) – Growth stocks led a rebound in Wall Street’s main indexes on Friday at the end of a week marred by worries about the worsening outlook for economic growth, while Twitter sank after Elon Musk put his deal for the social media company on hold. All the…
LONDON (Reuters) – A package of sanctions imposed on Russia, its top companies and its business and political elite over Moscow’s invasion of Ukraine look set to trigger a deep recession in Russia. Here is a summary of the economic consequences and Russia’s retaliatory measures: ECONOMY Almost 1,000 Western companies have either left or scaled…
