Household wealth optimism collapses, global survey shows
Jan 16 (Reuters) – Barely two in five people believe their families will be better off in the future, according to a regular global survey that also identified growing levels of distrust in institutions among low-income households.The Edelman Trust Barometer, which for over two decades has polled the attitudes of thousands of people, found that […]
IMF says fragmentation could cost global economy up to 7% of GDP
WASHINGTON, Jan 15 (Reuters) – A severe fragmentation of the global economy after decades of increasing economic integration could reduce global economic output by up to 7%, but the losses could reach 8-12% in some countries, if technology is also decoupled, the International Monetary Fund said in a new staff report.Tne IMF said even limited […]
U.S. December deficit quadruples as outlays grow, debt ceiling nears
WASHINGTON, Jan 12 (Reuters) – The U.S. government’s December budget deficit quadrupled from a year earlier to $85 billion as receipts shrank slightly and outlays grew to a new December record, the Treasury Department said on Thursday as it neared the $31.4 trillion federal debt limit.The results confirmed forecasts that revenues would start to ease […]
Crypto crime hits record $20 bln in 2022, report says
LONDON, Jan 12 (Reuters) – Illicit use of cryptocurrencies hit a record $20.1 billion last year as transactions involving companies targeted by U.S. sanctions skyrocketed, data from blockchain analytics firm Chainalysis showed on Thursday.The cryptocurrency market floundered in 2022, as risk appetite diminished and various crypto firms collapsed. Investors were left with large losses and […]
Crypto contagion deepens: Coinbase to slash nearly 1,000 jobs
Jan 10 (Reuters) – Coinbase Global Inc (COIN.O) said on Tuesday it will reduce its workforce by about 950 employees as part of a restructuring plan, in a third round of layoffs for the cryptocurrency exchange since last year.The company said it expects to incur about $149 million to $163 million in restructuring expenses. Its […]
Stocks extend gains on ‘soft landing’ hopes, China re-opening
LONDON, Jan 9 (Reuters) – European stock indexes rose in early trading on Monday and world stocks were at the highest in more than three weeks, boosted by investors scaling back expectations for U.S. Federal Reserve rate hikes and optimism about China’s borders reopening.U.S. jobs data on Friday showed a jump in the workforce and […]
World stocks soar, investors pare rate bets after US jobs data
Stocks rally as U.S. jobs data quells inflation fearsInvestors bet that Fed need not be as hawkishTreasury yields pull back, dollar sagsNEW YORK, Jan 6 (Reuters) – Wall Street sparked a global rally in stocks on Friday after a crucial U.S. jobs report showed wage growth slowed in December, fuelling investor bets that inflation is […]
Heavy discounts drive record U.S. online holiday spending, report says
Jan 5 (Reuters) – U.S. online spending during the 2022 holiday season rose by a better-than-expected 3.5%, a report by Adobe Analytics showed, as retailers used hefty discounts to lure inflation-weary consumers into spending on everything from toys to electronics.Shoppers spent a record $211.7 billion online over the holiday season, which typically starts in November […]