By Hannah Lang (Reuters) – Cryptocurrency exchange Kraken has no plans to delist tokens the U.S. Securities and Exchange Commission has labeled as securities, or to register with the agency as a market intermediary, said incoming chief executive officer Dave Ripley on Thursday. The stance of the San Francisco-based platform, which says it has more…
COLOGNE, Germany (AP) — For 90 years, Engelbert Schlechtrimen’s family has been baking wheat rolls, rye bread and chocolate cakes in this western German city. Next month, they will turn off the ovens for good, because they can no longer afford rising energy prices resulting from Russia’s war in Ukraine. Schlechtrimen’s grandparents founded the bakery…
By Tim Hepher PARIS (Reuters) -Europe’s Airbus on Friday gave the strongest hint yet that it plans to launch a bigger version of its 110 to 130-seat A220 passenger jet but said it would choose the timing carefully. A stretched version of the lightweight Canadian-designed airplane makes a lot of sense, “but we don’t want…
ROME (AP) — Italians will vote on Sunday in what is being billed as a crucial election as Europe reels from the repercussions of Russia’s war in Ukraine. For the first time in Italy since the end of World War II, the election could propel a far-right leader into the premiership. Soaring energy costs and…
LONDON (AP) — The United Kingdom’s new government outlined plans Friday to cut taxes and boost spending in an effort to bolster the faltering economy, but the high-risk moves sparked concerns that increased public borrowing will worsen a cost-of-living crisis and sent the British pound on its biggest one-day drop in 2 1/2 years. Treasury…
By David Milliken and Andy Bruce LONDON (Reuters) – New British finance minister Kwasi Kwarteng will detail close to 200 billion pounds ($225 billion) of tax cuts, energy subsidies and planning reforms on Friday, as part of Prime Minister Liz Truss’s bid to end “Treasury orthodoxy” and spur growth. Truss beat former finance minister Rishi…
KYIV, Ukraine (AP) — A Kremlin-orchestrated referendum got underway Friday in occupied regions of Ukraine that sought to make them part of Russia, with some officials carrying ballots to apartment blocks accompanied by gun-toting police. Kyiv and the West condemned it as a rigged election whose result was preordained by Moscow. Meanwhile, in a grim…
Stocks fell sharply worldwide Friday on worries an already slowing global economy could fall into recession as central banks raise the pressure with additional interest rate hikes. The Dow Jones Industrial Average fell 1.6%, closing at its lowest level since late 2020. The S&P 500 fell 1.7%, close to its 2022 low set in mid-June,…
(Corrects to paraphrase paragraph 8 comments) By Vidya Ranganathan SINGAPORE (Reuters) – As the Bank of Japan steps into currency markets for the first time in decades to defend a battered yen, it is running into numerous obstacles, chiefly its own stubborn commitment to ultra-easy monetary settings. Thursday’s sudden burst of yen-buying intervention by Japanese…
By Tom Westbrook SYDNEY (Reuters) – Stocks hit a two-year low on Friday and bonds eyed big weekly losses as the prospect of U.S. interest rates rising further and faster than expected rattled investors, while a rising dollar had currency markets skittish following Japan’s intervention. Interest rates rose sharply this week in the United States,…
