London
European markets head for higher open; Ukraine war remains in focus
LONDON — European stocks are expected to open higher Thursday as investors keep an eye on developments in the war between Russia and Ukraine. The U.K.’s FTSE index is seen opening 16 points higher at 7,636, Germany’s DAX 45 points higher at 14,392, France’s CAC 40 up 14 points at 6,638 and Italy’s FTSE MIB 12 […]
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IMF warns of further market sell-offs as central banks adjust policy
The International Monetary Fund has warned of more market sell-offs as central banks try to combat higher inflation and ease back on pandemic stimulus measures. Market players had started the year on an optimistic footing, predicting some economic momentum on the back of an easing of Covid-19 restrictions, which would likely provide a boost to […]
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Young people are saving money and paying off debt through ‘cash stuffing.’ Here’s how it works
As news of soaring gas prices splashed across headlines, Yasmine Camilla saw her energy bill double “almost overnight.” Filling up the tank now costs 30% to 40% more, she says. But this rising cost of living is something she would never have noticed eight months ago. “I had always just filled up my car when […]
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IMF cuts global growth forecasts on Russia-Ukraine war, says risks to economy have risen sharply
A view of damage in the Ukrainian city of Mariupol under the control of Russian military and pro-Russian separatists, on April 17, 2022. Anadolu Agency | Anadolu Agency | Getty Images The International Monetary Fund on Tuesday cut its global growth projections for 2022 and 2023, saying the economic hit from Russia’s unprovoked invasion of […]
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Fintechs are under pressure to stop Russian sanctions evasion. This start-up raised $94 million to help
Fintechs have come under increased pressure to address Russian sanctions evasion, particularly amid concerns that their controls may be more lax than that of banks. Kirill Kudryavtsev | Afp | Getty Images LONDON — Seon, a start-up that helps fintech companies like Revolut tackle online fraud, has raised $94 million to develop new tools for […]
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European stocks rise as ECB confirms end of bond buying; Ericsson down 5%
The pan-European Stoxx 600 nudged 0.5% higher by mid-afternoon, with travel and leisure stocks gaining 2.5% while telecoms dropped 0.4%. The ECB kept its monetary policy unchanged but confirmed it will end its bond buying in the third quarter. Once the bond buying program is completed, the ECB is expected to begin hiking interest rates, following […]
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European stocks slide 1.2% after undisclosed investor sells stakes in German banks; Deutsche Bank tanks 9.5%
LONDON — European markets sank Tuesday morning as traders monitored heaving selling in the banking sector, and looked ahead to key central bank meetings and U.S. inflation prints. The pan-European Euro Stoxx 600 index was down 1.2% in early deals, with the German DAX dropping 1.8% and the banking sector falling 2.3%. Reports on Monday […]
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This isn’t a recession – it’s a ‘war-cession,’ top strategist says. Here’s why it’s different
LONDON — The global economy is likely entering a “war-cession,” according to veteran investment strategist David Roche, and markets are underestimating its duration. It comes as markets attempt to navigate a flurry of concurrent economic hurdles, including Russia’s invasion of Ukraine, soaring inflation, rising interest rates and supply disruption from China’s efforts to contain a […]
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Meta’s A.I. exodus: Top talent quits as the lab tries to keep pace with rivals
Mark Zuckerberg told the world last October that he was rebranding Facebook to Meta as the company pushes toward the metaverse. Facebook | via Reuters Facebook parent Meta has lost some of its top artificial intelligence scientists this year as the company continues its pivot toward the metaverse. At least four prominent members of Meta […]
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European stocks muted after a tumultuous month for markets
LONDON — European stocks were mixed on the last trading day of March, a month marked by global geopolitical and economic uncertainty after Russia’s invasion of Ukraine. The pan-European Stoxx 600 hovered 0.2% below the flatline by mid-afternoon, but was on course to eke out a monthly gain for March. Utilities gained 0.9% while retail […]
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