Economy

Cannot Defy Gravity, Crypto Fears Materialising: International Bank Body

“Cannot Defy Gravity,” Crypto Fears Now Materialising Finally: International Bank Body

Crypto fears now materializing, central bank body BIS says Recent implosions in the cryptocurrency markets indicate that long-warned-about dangers of decentralised digital money are now materialising, the Bank for International Settlements has said. The BIS, the global umbrella body for central banks, sounded the warning in an upcoming annual report, in which it also urged …

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Here we go again: Strike snarls UK trains for a third day

Here we go again: Strike snarls UK trains for a third day

LONDON (AP) — Train stations were all but deserted across Britain on Saturday, as the third day of a national strike snarled the weekend plans of millions. Train companies said only a fifth of passenger services would run, as about 40,000 cleaners, signalers, maintenance workers and station staff walked off the job in Britain’s biggest …

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The West wants to go further on Russian oil.  Inflation makes that difficult

The West wants to go further on Russian oil. Inflation makes that difficult

Russia is making just as much money from energy exports as it was before it invaded in late February. Meanwhile, inflation is surging globally, adding to political pressure on leaders such as US President Joe Biden, British Prime Minister Boris Johnson and French President Emmanuel Macron. As leaders from top gather in Germany on Sunday …

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Russia slides towards default as payment deadline expires

Russia slides towards default as payment deadline expires

The clock on Spasskaya tower showing the time at noon, is pictured next to Moscow?s Kremlin, and St. Basil?s Cathedral, March 31, 2020. REUTERS/Maxim Shemetov Register now for FREE unlimited access to Reuters.com Register Grace period runs out on $100 mln interest payment due May 27 Russia says it has funds to pay, sanctions are …

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Wall Street set for gains as traders scale back rate hike expectations

Wall Street set for gains as traders scale back rate hike expectations

Crypto Moves – Bitcoin and Ethereum rise; Celsius prepares for bankruptcy; $100m heist hits crypto firm Harmony RIYADH: Bitcoin, the leading cryptocurrency internationally, traded higher on Sunday, rising by 0.93 percent to $21,420.15 as of 8:10 am Riyadh time. Ethereum, the second most traded cryptocurrency, was priced at $1,237.88, rising by 1.38 percent, according to …

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Upstate NY deli faces skyrocketing utility bills: Inflation is 'affecting everything'

Upstate NY deli faces skyrocketing utility bills: Inflation is ‘affecting everything’

NEWYou can now listen to Fox News articles! Small business owners are feeling the crushing weight of inflation in more than just goods and services. Now, many businesses are struggling to keep the lights on. North Country Store manager Matthew Montroy joined “Fox & Friends” Friday to share the costs his upstate New York deli …

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Leading at risk of falling into high-inflation trap, BIS says

Leading at risk of falling into high-inflation trap, BIS says

Leading import are close to “tipping” into a high-inflation world where rapid price rises are normal, dominate daily life and are difficult to quell, the Bank for International Settlements warning on Sunday. In its annual, the BIS, the reporting body that operates banking services for the world’s central banks, said these transitions to high-inflation environments …

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Vietnam likely to replace China as factory of the world in near future

Owing to greater opportunities with cheaper prices over land purchasing rights, labor wages, and operational expenses for factories and warehouses, Vietnam may replace China as the factory of the world in near future. As Omicron flare-ups in China’s manufacturing hubs, like Guangdong Province and Shanghai, disrupted supply chains, Vietnams Q1 economic …

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