The European Central Bank (ECB) has lost its independence after gaining additional powers following the 2011 sovereign debt crisis, a former member of its Governing Council has told CNBC. Panicos Demetriades, formerly head of the Cypriot Central Bank, served as an ECB Governing Council member between 2012 and 2014. He resigned from his post due […]
Read moreThe cryptocurrency world has its detractors, with J.P. Morgan CEO Jamie Dimon and legendary investor Warren Buffett topping a long list. But, sometimes it seems to be inviting ridicule. Eidoo, a company that bills itself as a cryptocurrency wallet and exchange, commissioned a 3-meter bronze sculpture showing a pregnant woman with a baby in her […]
Read moreAsian economies such as Taiwan, South Korea and Southeast Asia could be badly hit if trade tensions between the U.S. and China heat up further, experts have warned. Those economies are among the largest exporters of “intermediate goods” to China, which then assembles those pieces into finished products to ship to final destinations such as […]
Read moreFollowing the Wednesday announcement of sweeping corporate changes that are set to go into effect over the next few years, Australian telecommunications company Telstra’s stock fell to 7-year lows. Speaking with CNBC’s “Capital Connection,” the company’s CEO, Andrew Penn, said the changes — which will include 8,000 job cuts — were needed because the company […]
Read moreCurrency, United States Finance
European stocks seen higher amid rising trade war fears; OPEC in focus
European markets are set to open higher Wednesday morning, despite heightened fears of a full-blown Sino-U.S. trade war. The FTSE 100 is seen 52 points higher at 7,655; the CAC is expected to open up around 33 points at 5,424 while the DAX is poised to start 53 points higher at 12,742, according to IG. […]
Read moreThe Trump administration ratcheted up its criticism of China in a report released by the White House on Tuesday detailing its claims of “economic aggression” by the Asian giant. The 35-page report titled “How China’s Economic Aggression Threatens the Technologies and Intellectual Property of the United States and the World” came a day after President […]
Read moreJack Ma may be seen today as an e-commerce visionary, but the billionaire businessman has revealed that he was first inspired to build his empire by the dreams of another Asian icon: Malaysia’s current prime minister. The Alibaba founder told reporters on Monday of how Prime Minister Mahathir Mohamad’s plans to turn Malaysia’s capital into […]
Read moreMicrosoft chief Satya Nadella condemned the Trump administration’s new zero-tolerance policy on illegal border crossings and called the separation of immigrant children from their families “abhorrent.” The CEO, who is himself an immigrant from India, shared an email that he said he sent to all Microsoft employees. In that message, Nadella said the new policy […]
Read moreSouth Korea-based cryptocurrency exchange Bithumb said Wednesday it was temporarily suspending deposit and withdrawal services after about $30 million worth of cryptocurrency was stolen. The Seoul-based operator said on Twitter that the stolen coins would be covered from Bithumb’s own reserves and that all users’ assets are being transferred to safer “cold wallet.” Tweet 1: […]
Read moreCanada’s upper house of parliament on Tuesday approved a revised bill to legalize recreational marijuana, setting the stage for the country to become the first Group of Seven nation to legalize cannabis. The Senate voted 52-29 in favor of the revised bill from the elected House of Commons, paving the way for a fully legal […]
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