Bitcoin Near 9-Month High As Bank Turmoil Sparks Rally
to turn to digital assets. The biggest cryptocurrency by market value fell 1.8% in Asia hours to $27,549 after hitting its highest since June 12 on Sunday at $28,474. It rose 26% last week and is up more than 35% in ten days as...
Fashion Retailer H&M’s Profit Tumbles As Costs Bite
Sweden's H&M reported on Friday a much larger than expected drop in September-November profit, hit by weak consumer confidence and soaring costs that it did not fully pass on to price tags, sending its shares down 7% in early trade. Operating profit in the...
Oil Prices Rise On OPEC+ Hopes, But Set For Steep Weekly Losses
Oil prices crept higher on Friday on the prospect of supportive measures by the OPEC+, although fears of an economic slowdown stemming from a banking crisis kept gains limited and put prices on course for their worst week this year. Media reports said that...
European Stocks Largely Flat; Ryanair Reports Record June Numbers
European stock markets traded largely unchanged Tuesday, with investors searching for cues given a light data calendar and a U.S. holiday. At 03:30 ET (07:30 GMT), the DAX index in Germany traded flat, the CAC 40 in France rose 0.1%, while the FTSE 100...
Asian Stocks Cautiously Higher As Debt Ceiling Bill Moves Forward
Most Asian stocks edged higher on Thursday, encouraged by progress towards averting a U.S. debt default, while signs of life in China’s manufacturing sector also helped fish local stocks from six-month lows. The U.S. House of Representatives voted in favor of a bill to...
Inflation Could Make Or Break Rebounding 60/40 Portfolio
An investing strategy designed to hedge against market declines is rebounding after a rough year, but its success may hinge on whether inflation continues to ebb in coming months. So-called 60/40 portfolios typically allocate 60% of their assets to stocks and the rest to...
SpaceX Ready To Retry Launching NASA’s Next Space Station Crew
Elon Musk's rocket company SpaceX was ready to try again at sending NASA's next long-duration crew of the International Space Station to orbit on Thursday, about 72 hours after a first attempt was scrubbed due to a clogged filter in the launch system. Two...
Asia FX Dips After Chinese Imports Disappoint, Dollar Rises
Most Asian currencies retreated on Tuesday tracking softer-than-expected Chinese import data, while the dollar firmed ahead of more cues on the U.S. economy from key inflation data due this week. China’s yuan fell 0.1% as data showed China’s imports fell more than expected in...
Volkswagen to Invest $193 Billion Over 5 Years To Hit EV Target
Volkswagen (ETR:VOWG_p) plans to invest 180 billion euros ($192.76 billion) over the next five years in areas including battery production and its North American operations, it said on Tuesday, with spending on combustion engines to fall from 2025. As it works toward a target...
Nissan, Renault To iInvest $600 Million To Make New Models In India
Nissan (OTC:NSANY) Motor Co and Renault SA (OTC:RNLSY) said on Monday they would invest $600 million to make six new models in India. The Japanese and French automakers will work on the projects from their base in Chennai, turning it into an export hub,...