Gold back up above $1,900 level as dollar loses ground
Jan 18 (Reuters) – Gold reversed course to trade higher on Wednesday as the U.S. dollar pulled back from session highs and expectations of a slower pace of Federal Reserve rate hikes supported prices above the $1,900 threshold.Having dipped in the last two sessions, spot gold rose 0.5% to $1,917.26 per ounce by 1254 GMT, […]
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 […]
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 […]
More than half of German companies report labour shortages
BERLIN, Jan 12 (Reuters) – More than half Germany’s companies are struggling to fill vacancies due to a lack of skilled workers, the German Chambers of Commerce and Industry (DIHK) said on Thursday, in the latest sign of growth headwinds belabouring Europe’s largest economy.The proportion of companies facing difficulties hiring was at its highest ever […]
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 […]