Month: June 2022
Crypto lender Celsius pauses withdrawals due to ‘extreme market conditions’
Celsius CEO Alex Mashinsky. Piaras Ó Mídheach | Sportsfile for Web Summit | Getty Images Celsius, a controversial cryptocurrency lending platform, said Monday it was pausing all withdrawals, causing more pain in the fragile crypto market. Celsius is one of the largest players in the nascent crypto lending space, with more than $8 billion lent […]
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Bitcoin briefly drops below $25,000 as $150 billion wiped off crypto markets over the weekend
Bitcoin and other cryptocurrencies fell sharply as investors dump risk assets. A crypto lending company called Celsius pausing withdrawals for its customers, sparking fears of contagion into the broader market. Nurphoto | Nurphoto | Getty Images Bitcoin tumbled below $25,000 late on Sunday, hitting its lowest level since December 2020, as investors dump crypto amid […]
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Biden is ‘paying lip service’ to the U.S. position on Taiwan, former Chinese army officer says
BEIJING — There is an increasing wariness of U.S. claims to recognize Beijing as the sole legal government of China, a retired officer of the People’s Liberation Army told CNBC on Monday. His comments came after U.S. President Joe Biden repeatedly indicated the U.S. would defend Taiwan militarily if the island is attacked, only to […]
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Forces battle for ‘every meter’ of Severodonetsk; river crossings could become a major problem for Russia. Follow our live updates
River crossings pose a huge problem for Russia, UK says This photograph taken on April 29, 2022 shows a destroyed railway bridge, over the Siverskyi Donets river, in Raygorodok, eastern Ukraine, amid the Russian invasion of Ukraine. Yasuyoshi Chiba | AFP | Getty Images Russia needs to conduct difficult river crossings to achieve success in […]
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UK economy shrinks 0.3% in April, raising slowdown concerns
Pedestrians walk past British Union flag designs on advertisements. Simon Dawson | Bloomberg | Getty Images Britain’s economy unexpectedly shrank by a monthly 0.3% in April, official figures showed on Monday, adding to fears of a slowdown three days before the Bank of England announces the scale of its latest interest rate response to the […]
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JPMorgan says Chinese assets are a good diversifier right now
Sign for J.P. Morgan on 7th March 2020 in London, United Kingdom. JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York. Mike Kemp | Getty Images LONDON – As lockdowns ease and regulatory pressures subside, some of the headwinds facing Chinese stocks are set to […]
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More South Korea businesses hit as trucker strike enters 7th day
Truck drivers and members of the Korean Confederation of Trade Unions shout slogans during a demonstration on Friday, June 10, 2022. South Korean petrochemical firms on Monday joined the automobile and steel makers in cutting operations due to mounting inventories as transport disruptions from a strike by truckers spread quickly across Asia’s manufacturing powerhouse. SeongJoon […]
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Zelenskyy hails troops as chemical plant sheltering civilians hit in eastern Ukraine
Ukrainian President Volodymyr Zelenskyy speaks on June 6, 2022. As bitter fighting raged in the city of Sievierodonetsk, Ukraine’s president hailed his country’s fighters for defying Russian forces in his country’s eastern Donbas region. Ukrainian Presidency | Anadolu Agency | Getty Images As bitter fighting raged in the city of Sievierodonetsk, Ukraine’s president hailed his country’s […]
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People have talked about ‘flying cars’ for decades. Now they may actually happen
German company Lilium produces flying electric passenger drones. CNBC looks at the company’s testing site in Spain and whether so-called electric vertical takeoff and landing aircraft (eVTOL) — popularly dubbed flying cars can take off. From electric cars to scooters, the world is looking for cleaner and more efficient ways of getting around. Most of […]
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Buffett disciple Mohnish Pabrai names 3 ways to identify long-term winners in the market
Finding the right businesses to invest in can be a daunting task, but veteran investor Mohnish Pabrai tells CNBC how he identifies long-term winners in the stock market. Pabrai, managing partner of Pabrai Investment Funds, is widely known for closely following Warren Buffett’s principles on value investing and capital allocation. Value investing has come into […]
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