LONDON—The U.S. dollar struggled versus its major rivals on Monday as traders reassessed the prospects of aggressive rate hikes, while the euro led gainers at the start of the European Central Bank’s annual summit in Portugal. Aggressive interest rate hike bets have boosted the dollar in recent days with an index rising to a near…
Stocks Extend Bear Market Bounce as Inflation Angst Eases
MILAN/TOKYO—World shares extended their bounce on Monday, building on Friday’s strong Wall Street close as off-peak oil prices helped sentiment improve and temper fears of prolonged inflation. Strong morning gains in Europe and a rally across Asian markets after China further eased COVID-19 restrictions drove the MSCI’s benchmark for global stocks up for a third…
Crypto Firm Harmony Hit by $100 Million Heist
LONDON—Crypto firm Harmony said on Friday that thieves stole around $100 million worth of digital coins from one of its key products, the latest in a string of cyber heists on a sector long targeted by hackers. Harmony develops blockchains for so-called decentralized finance—peer-to-peer sites that offer loans and other services without the traditional gatekeepers…
Elon Musk Sends Dogecoin 8 Percent Higher on Support for Cryptocurrency
Dogecoin prices surged about 8 percent on Tuesday after billionaire CEO Elon Musk reiterated his support for cryptocurrency Dogecoin in a recent interview. Speaking with Bloomberg News Editor-in-Chief John Micklethwait at this year’s Qatar Economic Forum in Doha, Musk explained his reasoning behind his public endorsement of the digital currency. “I intend to personally support…
Euro Higher as ECB Officials Affirm Rate Hike Plans, New Tool
LONDON—The euro rose on Tuesday, drawing support from the European Central Bank’s plans to raise interest rates to contain inflation, while the yen retested a 24-year low as the Bank of Japan’s ultra-loose monetary policy stance continued to weigh. The euro was 0.5 percent firmer at $1.0563 after ECB Chief Economist Philip Lane said the…
European Shares Rise, Dollar Slips as Market Selloff Pauses
LONDON—European shares opened higher on Tuesday, recovering slightly from last week’s 17-month lows as the selloff paused, but major central banks’ rate hike plans and global recession risks kept investors cautious. World stocks have edged higher so far this week, recovering from last week’s sharp selloff which saw global equities tumble to their lowest since…
Hong Kong Musician’s Dream Fulfilled In London
June 21, 2022
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After bidding a rushed farewell to his family, Xavier Cheung came to London by himself a year ago, bringing with him a music dream. With no financial back-up nor outstanding academic qualification, Xavier, now 28, worked in a restaurant and real estate agency to earn money for rental. After sending tons of his CVs out,…
Crypto Industry Fears Contagion as Bitcoin Slips Under $20,000
LONDON/HONG KONG—The cryptocurrency industry was on edge on Monday as bitcoin struggled to stay above a key level, with investors fearing that problems at major crypto players could unleash a wider market shakeout. Bitcoin, the world’s biggest cryptocurrency, was trading just under the symbolic level of $20,000 in early London trading hours—roughly the peak of…
World Shares Mixed; Bitcoin Holds Steady Near $20,000
TOKYO—European benchmarks were higher Monday after most Asian markets retreated, while the price of bitcoin hovered near $20,000. U.S. futures advanced and oil prices fell back early Monday. The price of the world’s most popular cryptocurrency remained near the psychological benchmark of $20,000 after bouncing during the weekend. At one point, bitcoin plunged nearly 10…
FBI Says Cryptocurrency Fraud on LinkedIn a ‘Significant Threat’: How Scammers Lure Members
FBI special agent Sean Ragan has said that cryptocurrency investment scammers on Microsoft Corporation’s social networking platform LinkedIn are a significant threat to the platform and consumers. According to an exclusive interview with CNBC, Ragan, the FBI’s special agent in charge of the San Francisco and Sacramento, said that crypto-related fraudulent activities on LinkedIn are becoming more…
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