The price of ethereum crashed as low as 10 cents from around $319 in about a second on the GDAX cryptocurrency exchange on Wednesday, which is being blamed on a “multimillion dollar market sell” order. Ethereum is an alternative digital currency to bitcoin and had been trading as high as $352 on Wednesday. Adam White, […]
Read moreUkrainian President Petro Poroshenko said after meetings in Washington that Kiev and the United States would soon sign a number of agreements boosting defense cooperation, news agency Interfax-Ukraine reported on Wednesday. Poroshenko said U.S. Defense Secretary Jim Mattis and Vice President Mike Pence had told him that key members of President Donald Trump‘s administration would […]
Read moreChina’s bond market will double in size from the current $9 trillion over the next five years, overtaking Japan’s to become the world’s second largest behind the United States’, UBS Asset Management said in a report. Underpinning that growth is a law passed in 2015 to prohibit local provinces and cities from borrowing from banks. […]
Read moreTakata will seek bankruptcy protection from creditors on Monday, two sources said, as the Japanese company faces billions of dollars in liabilities stemming from the biggest recall in automotive history. The Japanese company, whose defective air-bag inflators have been blamed for at least 16 deaths and more than 150 injuries worldwide, will file for protection […]
Read moreChina’s central bank will not take action to shrink its balance sheet like the U.S. Federal Reserve as it does not face the same pressures due to its use of different policy tools, an adviser to the People’s Bank of China said on Thursday. The Fed is looking to start reducing its massive $4.2 trillion […]
Read moreThe troubles surrounding Chinese insurer Anbang are part of a “house-cleaning” that was “well overdue,” an industry expert said Thursday. Last week, Anbang — best known for its 2015 purchase of New York’s landmark Waldorf Astoria hotel — said its chairman, Wu Xiaohu, was no longer able to fulfill his duties. The brief statement cited […]
Read moreGlobal markets started 2017 fearing, among others, a disruptive United States and growing political risks in Europe. But neither of those has turned out to be damaging thus far, Citi Private Bank said in its mid-year review. That said, generating double digit returns will not be “quite as easy” in the coming months compared to […]
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Commerce secretary and billionaire investor Wilbur Ross recently referred to China as “the most highly protectionist of the big countries” in an interview with the Wall Street Journal, repeating a claim he made back in January. But data seems to suggest otherwise. Average tariff rates are actually higher in Brazil and India, two of the […]
Read moreTravis Kalanick‘s final hours as Uber’s chief executive played out in a private room in a downtown Chicago hotel on Tuesday. There, Mr. Kalanick, who was on a trip to interview executive candidates for Uber, was paid a surprise visit. Two venture capitalists — Matt Cohler and Peter Fenton of the Silicon Valley firm Benchmark, […]
Read moreOmada Health, one of the most highly funded digital health companies in Silicon Valley, has laid off about 20 people in departments across the organization. Omada has developed a diabetes prevention program that is geared to roughly 1 in 3 Americans at high risk for the disease. What makes it a tech company is that […]
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