China is considering allowing yuan-backed stablecoins for the first time in a move aimed at boosting international adoption of its currency, Reuters reported citing people familiar with the matter. The proposal, now under review, would represent a significant departure from Beijing’s strict stance on digital assets, which saw cryptocurrency trading…
A dramatic day of reckoning is unfolding in European markets, as a shocking corporate collapse sends a chill through London while the broader continent holds its breath ahead of a pivotal week of economic tests. The session is a tale of two markets: one of quiet, nervous anticipation, the other…
Australia’s economy looks very conflicting on paper. The headline economy feels slow. Interest rates have come down and markets are expecting a more favorable environment.National indicators point to soft momentum and fading tailwinds. On the ground, brand-led consumer companies are scaling and exporting. This split is important for policy and…
Australian shares surged past the key 9,000 mark for the first time on Thursday, lifted by financials and a string of upbeat corporate earnings. The S&P/ASX 200 index gained 1.1% to 9,019.10, marking an all-time high and closing record. The benchmark has risen in seven of the past 15 sessions…
Global crude and condensate departures remained high in the first half of August, reaching approximately 41 million barrels per day, Vortexa said in an update. The figure is 2% higher than the seasonal average from 2016-2024 and surpasses both 2023 and 2024 levels.“Nevertheless, despite fears that the swift unwinding of production…
Shares of WH Smith plunged by nearly 40% on Thursday after the travel retailer revealed it had overstated earnings at its North American division, forcing a steep downgrade to its annual profit forecast. The company said a financial review found that supplier income in the region had been booked too…
The United States and European Union on Thursday released new details of their trade framework, providing clarity on tariffs for sectors including pharmaceuticals, semiconductors, and autos after weeks of uncertainty.The framework, finalised late last month after protracted negotiations, set a blanket 15% tariff on EU exports to the US, alongside…
By mid-August, both the S&P 500 and NASDAQ had hit a succession of fresh all-time highs as investors sloughed off concerns over the Trump administration’s tariffs. US tech continued to lead the pack with the top ten stocks in the S&P accounting for 40% of the index as measured by…
The world’s biggest tech companies are tearing up the rulebook in their pursuit of AI. Energy, infrastructure, talent. It’s about who gets there first.What started as a race to build bigger models has morphed into billion-dollar job offers, reverse acquihires that hollow out startups, and spending sprees so large they…
Meta Platforms has paused hiring for its newly formed artificial intelligence division, a move that comes after a year of intense spending on talent, acquisitions, and infrastructure. The decision, which took effect last week, follows a restructuring that split Meta’s AI strategy into four divisions under the banner of Meta…