By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Japanese inflation figures for March and the first insights into economic activity around the world this month from flash PMI reports grab the spotlight on Friday, as investors reflect on mounting evidence of slowing U.S. economic and earnings…
By Yuvraj Malik and Greg Bensinger (Reuters) -BuzzFeed Inc said on Thursday it will shutter its news division, which gained renown for its irreverent and probing coverage but ultimately succumbed to the challenges of its digital-first business model. Shares of BuzzFeed nosedived 20% to 75 cents after the New York-based media company said it will…
By John McCrank (Reuters) – The U.S. Securities and Exchange Commission (SEC) published a staff bulletin on Thursday giving guidance on how broker dealers and investment advisers must put their clients’ interests ahead of their own when providing advice and recommendations to retail investors. The guidance, which is the third in a series of such…
By Eliana Raszewski, Jorge Otaola and Walter Bianchi BUENOS AIRES (Reuters) – Argentina’s central bank hiked the benchmark interest rate a sharper-than-expected 300 basis points on Thursday after inflation soared past expectations in March to hit 104% on an annual basis, the monetary authority said in a statement. Reuters earlier reported, citing an official source,…
By Aditya Soni and Noel Randewich (Reuters) – Tesla Inc’s stock tumbled nearly 10% on Thursday after CEO Elon Musk signaled the electric vehicle maker will keep cutting prices to drive up demand, even after taking a painful hit to margins. The leading electric car manufacturer lost over $50 billion of its stock market value,…
SEOUL (Reuters) – South Korea’s producer inflation slowed in March to the weakest level in 25 months, central bank data showed on Friday, led by agricultural and petroleum products. The producer price index stood 3.3% higher in March than a year before, compared with 4.8% in February, according to the Bank of Korea. It was…
NEW YORK (Reuters) – Amazon has launched its Anti-Counterfeiting Exchange (ACX), an initiative to help retail stores label and track marketplace counterfeits as part of the e-commerce giant’s efforts to crack down on organized crime on its platform, the company announced on Thursday. Online marketplaces in the United States including Amazon face hurdles in keeping counterfeiters…
DUBLIN (Reuters) – Generative AI, such as OpenAI’s ChatGPT, needs to be regulated, but governing bodies must figure out how to do so properly before rushing into prohibitions that “really aren’t going to stand up”, Ireland’s data protection chief said on Thursday. “It needs to be regulated and it’s about figuring out how to regulate…
By Elizabeth Howcroft LONDON (Reuters) -Major U.S. crypto exchange Coinbase Global Inc has said it has secured a licence to operate in Bermuda, as part of a wider push to expand globally. Coinbase CEO Brian Armstrong said on Tuesday that crypto firms will develop in “offshore” havens unless the U.S. and UK create “clarity about…
By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks was poised for its biggest daily percentage drop in two weeks on Thursday as a sharp decline in Tesla shares weighed while softening U.S. economic data and growing worries about the debt ceiling pushed Treasury yields lower. On Wall Street, U.S. stocks closed…
