By Hannah Lang (Reuters) – A leading U.S. financial regulator is set to be grilled by lawmakers on Thursday about the spectacular collapse of cryptocurrency exchange FTX and whether authorities could have done more to prevent it. In the first of several congressional hearings to examine FTX’s failure, members of the Senate Agriculture Committee are…
By Foo Yun Chee BRUSSELS (Reuters) -The U.S. Chamber of Commerce and 12 other groups on Thursday warned the European Union against adopting rules that could exclude Amazon, Alphabet unit Google, Microsoft and other non-EU cloud services providers from the European market. The Chamber, the National Foreign Trade Council, the Japan Association of New Economy,…
By Leika Kihara TOKYO (Reuters) -Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China’s strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday. The results highlighted Asia’s darkening economic outlook for 2023, as the lockdowns disrupt international supply and heighten fears of…
BANGKOK (AP) — Shares retreated in Asia on Friday after a mixed day on Wall Street as optimism over signs the Federal Reserve may temper its aggressive interest rate hikes was replaced by worries the economy might be headed for a recession. A U.S. measure of inflation that’s closely watched by the Federal Reserve eased…
HONG KONG (AP) — Videos of hundreds protesting in Shanghai started to appear on WeChat on Saturday night. Showing chants about removing COVID-19 restrictions and demanding freedom, they would stay up only a few minutes before being censored. Elliot Wang, a 26-year-old in Beijing, was amazed. “I started refreshing constantly, and saving videos, and taking…
By Kevin Yao BEIJING (Reuters) – China’s $17 trillion economy is headed for one of its worst showings this year in almost half a century, but its central bank has limited options in its armoury for providing policy support as it would want to avoid stoking capital flight. The People’s Bank of China (PBOC) is,…
A look at the day ahead in European and global markets from Ankur Banerjee: With a Fed pivot coming in to view, thanks to Jerome Powell, and optimism about China’s reopening prospects, investors have rediscovered their risk appetite, pouring into equities and sending safe-haven U.S. dollar lower. All it took was for Fed Chair Powell…
