Turkey dug deep into reserves to keep lira stable through quake
Turkey’s central bank used $7 billion of reserves in the last two weeks to help steady the lira in the aftermath of devastating earthquakes, and reserves could remain under pressure ...
Toyota accepts union demand for biggest wage hike in 20 years
Toyota Motor Corp (7203.T), the world’s biggest automaker, said on Wednesday it would accept a union demand for the biggest base salary increase in 20 years and a rise in ...
Looming US default risk prompts investors to cut some debt exposure
Bond investors are starting to trim holdings of US debt to brace for a possible government default that they see as highly unlikely but potentially seismic for financial markets around ...
Cryptoverse: Tether tightens grip on wobbling world of stablecoins
The world of stablecoins is suddenly looking shaky.
Seismic shifts may be afoot in the $137 billion market after New York-based Paxos Trust Company, which mints Binance’s stablecoin, said it ...
How to afford the big price tag of your lifetime ‘bucket list’
Eytan Morgenstern is facing a very expensive dilemma.
The 36-year-old public relations professional has an opportunity to check something off his life ‘bucket list’: Seeing his favorite band, Metallica, play ...
Brent oil falls on fears of global economic slowdown
Brent oil fell on Tuesday as concern about a global economic slowdown that would reduce demand prompted investors to take profits on the previous day’s gains, outweighing supply curbs.
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Resilient Russian banks lean inwards in pursuit of profit
Russian banks have rallied after an initial hit from last year’s Western sanctions against Moscow, with lenders now jostling for business from the state, particularly a burgeoning defence budget, ...
Russian rouble weakens ahead of Putin address to parliament
The rouble weakened on Tuesday despite increased demand for the currency ahead of month-end tax payments as President Vladimir Putin prepares to update Russia’s political and military elite on ...
Jaguar Land Rover opens three European self-driving tech hubs
Luxury carmaker Jaguar Land Rover said on Tuesday it is opening three new engineering hubs in Europe to develop autonomous vehicle technologies as part of its partnership with Silicon Valley ...
EU calls for fast-track crypto capital rules for banks
Tough capital rules for banks holding cryptoassets must be fast-tracked in the European Union’s pending banking law if Europe wants to avoid missing a globally-agreed deadline, the bloc’s ...
Britain’s Tesco raises store workers pay by 7 per cent
Tesco, Britain’s biggest retailer, will raise hourly pay for about 220,000 store workers by 7 per cent from April, another increase that will likely catch the attention of the Bank of ...
Ericsson to cut 1,400 jobs in Sweden
Telecoms gear maker Ericsson (ERICb.ST) plans to cut about 1,400 jobs in Sweden as part of a broader plan to reduce costs globally, it said on Monday.
The company had ...
Oil rises on China demand hopes, concerns on supply outlook
Oil prices rose on Monday amid optimism over China’s demand recovery, concerns that underinvestment will crimp future oil supply and as major producers keep output limits in place.
Brent ...
UK property asking prices show weakest February gain on record
Average asking prices for British residential property rose by just 14 pounds ($17) in February from January, the smallest rise on record for a month which normally sees a big seasonal increase, ...
Maersk nears complete Russia exit after selling logistics sites
Shipping and logistics group A.P. Moller-Maersk (MAERSKb.CO) has agreed to sell its two logistics sites in Russia to IG Finance Development Limited, it said on Monday, nearly marking ...
Airbus’ defence arm says Berlin delaying exports worth billions
Slow German government export approvals are holding up Airbus Defence & Space (AIR.PA) defence exports worth several billions of euros, the company’s chief executive said on Sunday, urging ...
Hermes beats forecasts on robust growth in two key markets
Birkin bagmaker Hermes (HRMS.PA) said that wealthy Chinese clients snapped up its products in the fourth quarter even as the rest of the luxury sector took a hit from ...
UK consumers bought more in January but overall gloom persists
British consumers unexpectedly increased their shopping in January, but the big picture remains one of weak demand from inflation-hit households relying more on discounts at retailers to make ends meet.
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NBA Hall-of-Famer Pierce to pay $1.4 million over crypto promotion, SEC says
Former pro US basketball star Paul Pierce has agreed to pay more than $1.4 million to settle charges he illegally promoted digital assets, Wall Street’s top regulator said Friday.
The ...
Amazon asks employees to be in office at least three days a week
Amazon.com Inc (AMZN.O) would require employees to be in office at least three days a week from May 1, the e-commerce giant said on Friday.
The COVID-19 pandemic had ...
As Europe goes green, number crunchers map the ripple effects
The EU will soon be able to see more clearly the wider outcomes of its clean-energy drive.
A new tool will help predict numerous features of a low-carbon society. It ...
What’s known about Tesla’s “Project Highland”?
Tesla (TSLA.O) plans to slow production at its Shanghai plant in the last week of February to prepare for building a revamped version of its Model 3 sedan, according to ...
Japan to launch pilot programme for issuing digital yen
Japan will start a pilot programme in April to test the use of a digital yen, its central bank said on Friday, joining a growing number of countries seeking to ...
Are sanctions against Russia working?
By Maria Demertzis
When Russia first invaded Ukraine almost a year ago, many countries condemned the aggression and applied sanctions in an attempt to squash its economy and isolate it ...