Month: June 2022
‘Profit recession’ warning as markets wait for aggressive central bank moves
A trader works on the floor of the New York Stock Exchange (NYSE) in New York, June 13, 2022. Brendan McDermid | Reuters Global stock markets diverged on Tuesday after a worldwide sell-off in the previous session, as analysts assessed the longevity of the bear market and risk of recession. U.S. stock futures bounced in […]
Read More
UK’s first migrant deportation flight to Rwanda set to depart on Tuesday
The courts have thrown out last-ditch bids by human rights groups and campaigners to halt the first flight. Anadolu Agency | Anadolu Agency | Getty Images Britain’s first scheduled flight taking asylum seekers to Rwanda was due to depart on Tuesday, with the government warning that anyone who avoided it through last-minute legal challenges would […]
Read More
10-year Treasury yield falls after biggest move since March 2020; investors await key Fed meeting
Treasury yields fell on Tuesday as investors assessed the prospect of the Federal Reserve taking the most aggressive step yet in its fight to lower soaring inflation. The yield on the benchmark 10-year Treasury note slipped around 9 basis points to 3.276%, paring gains after climbing to 3.39% and notching its biggest move since 2020 […]
Read More
‘Delusional’: UN chief slams new fossil fuel funding and warns of climate chaos
In remarks delivered to the Austrian World Summit in Vienna via video, Antonio Guterres issued a sobering assessment of the planet’s prospects. “Most national climate pledges are simply not good enough,” he said. Michael M. Santiago | Getty Images News | Getty Images The U.N. Secretary General has slammed new funding for fossil fuel exploration, […]
Read More
Most factories in Shanghai resume work as Covid controls ease, ministry says
German automaker Volkswagen is one of state-owned automaker SAIC’s foreign partners in China. Pictured here on June 7, 2022, is the joint venture’s factory in Shanghai. Qilai Shen | Bloomberg | Getty Images BEIJING — Factories in two of China’s Covid-hit economic hubs have mostly resumed work as the impact of the virus subsides, according […]
Read More
Ukraine must ‘knock out the occupiers,’ Zelenskyy says; Severodonetsk cut off after all bridges destroyed
Risks of a ‘frozen conflict’ rising as Russia makes gains in eastern Ukraine Tanks of pro-Russian troops drive along a street during Ukraine-Russia conflict in the town of Popasna in the Luhansk Region, Ukraine May 26, 2022. Alexander Ermochenko | Reuters As Russia gradually seizes more territory in Ukraine and continues to pound various targets […]
Read More
Fund manager reveals his crypto shorts — and one is already down more than 25% this week
Crypto had a brutal start to the week. One crypto lender halted withdrawals, another announced job cuts , and the market cap of the beleaguered sector fell below $1 trillion, down from $3 trillion at its peak in November . Bitcoin plunged 15% to fall below $23,000 — an 18-month low. Ethereum , widely seen […]
Read More
‘Frozen conflict’: Ukraine war could last 10 years or more if Russian forces aren’t pushed back
Ukrainian troop members repair an army’s Main Battle Tank (MBT) in the eastern Ukrainian region of Donbas on June 7, 2022. Aris Messinis | AFP | Getty Images As Russia gradually seizes more territory in Ukraine and continues to pound various targets in the Donbas, analysts fear that Ukrainian fighters are losing the upper hand, […]
Read More
European stocks head for mixed open as global markets are rattled by central banks
LONDON — European stocks are expected to open in mixed territory on Tuesday after sharp declines in global markets on Monday amid fears that central banks will be forced into aggressive monetary policy tightening with inflation remaining high. The U.K.’s FTSE index is seen opening 23 points higher at 7,226, Germany’s DAX 44 points higher […]
Read More
Bitcoin drops below $21,000 briefly as crypto sell-off continues
Illustrative image of two commemorative bitcoins with a green background. Artur Widak | Nurphoto | Getty Images Bitcoin briefly dropped below $21,000 on Tuesday in Asia before bouncing back slightly, continuing its plunge as investors sold off risk assets. The world’s largest cryptocurrency fell nearly 14% in the past 24 hours, while ethereum tumbled more than […]
Read More