(Reuters) – Meta Platforms Inc’s digital currency venture Diem Association is winding down and selling its technology to California-based Silvergate Capital Corp for about $200 million, the Wall Street Journal reported on Wednesday, citing a person familiar with the matter. Meta, formerly Facebook Inc, first unveiled plans for Diem, known as Libra earlier, in June…
FRANKFURT (Reuters) -Deutsche Bank nearly tripled its fourth-quarter profit, defying expectations for a loss, as revenues at the investment bank rose. The net profit attributable to shareholders was 145 million euros ($162.62 million) in the three months ending Dec. 31, figures published on Thursday showed. That compares with a profit of 51 million euros a…
BEIJING (AP) — Asian stock markets were mixed Friday as traders looked ahead to data on U.S. employment costs that might influence Federal Reserve decisions on planned interest rate hikes. Tokyo and Seoul advanced while Shanghai and Hong Kong declined. Wall Street fell for a third day Thursday after the U.S. government reported the economy…
By Clare Jim HONG KONG (Reuters) -China Evergrande Group shares slumped on Thursday after the developer’s thinly detailed roadmap for restructuring left investors dissatisfied and its indebted peers also fell on concerns higher interest rates would raise financing costs. Regulatory curbs on borrowing have driven China’s property sector into crisis, highlighted by Evergrande, the world’s…
RALEIGH, N.C. (AP) — A Colorado-based aviation company announced Wednesday that it has chosen a North Carolina airport as the manufacturing site for next-generation supersonic passenger jets. If successful, the investment could create more than 2,000 jobs in the region over the next decade while cutting flight times significantly for a post-Concorde generation of air…
By Leah Douglas (Reuters) – Insurance payments to U.S. farmers for crops lost to droughts and flooding have risen more than threefold over the past 25 years, according to an analysis of federal data by the Environmental Working Group (EWG) released on Thursday. The report reinforces concerns that insuring the nation’s crops will get more…
By Andrew Galbraith SHANGHAI (Reuters) – Asian shares tumbled to their lowest in nearly 15 months, short-term U.S. yields rose to 23-month highs and the dollar strengthened on Thursday after the Federal Reserve’s chairman signalled plans to steadily tighten policy. At the same time, rising investor concerns over political tensions between Russia and Ukraine exacerbated…
(Reuters) – Apple Inc is planning a new service that will allow small businesses to accept payments directly on their iPhones without any extra hardware, Bloomberg News reported on Wednesday, citing people with knowledge of the matter. For payments to get accepted on an iPhone, retailers currently use payment terminals to receive money on their…
By Heekyong Yang and Jihoon Lee SEOUL (Reuters) -LG Energy Solution Ltd (LGES) saw its shares almost double in price on their trading debut on Thursday, making the electric vehicle (EV) battery maker South Korea’s second-most valuable company. LGES stock began trade at 597,000 won, 99% above the 300,000 won price set in South Korea’s…
SEOUL, South Korea (AP) — Samsung Electronics Co. said Thursday its operating profit for the last quarter rose by more than 53% from the same period last year as it continued to thrive during the pandemic while relying on its dual strength in parts and finished products. Samsung’s operating profit of to 13.9 trillion won…
