Sudden crypto drop sends bitcoin to three-week low

Representations of cryptocurrencies can be seen in this illustration, Aug 10, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register SINGAPORE, Aug. 19 (Reuters) – Cryptocurrencies fell sharply on Friday, with sudden sales dragging bitcoin to a three-week low. Bitcoin dropped a whopping 7.7% to $21,404, around 0640 GMT, in a matter … Read more

China sentences tycoon Xiao Jianhua to 13 years, fines his company $8.1 billion

People walk past the building with the listed address of the Tomorrow Holdings office in Beijing, China, February 3, 2017. REUTERS/Thomas Peter Register now for FREE unlimited access to Reuters.com Register BEIJING, Aug 19 (Reuters) – A Shanghai court has sentenced Chinese-Canadian billionaire Xiao Jianhua, who has not been seen in public since 2017, to … Read more

Musk targets ad tech companies in Twitter deal over takeover deal

Elon Musk’s photo, Twitter logos, and US dollar bills can be seen in this illustration, Aug. 10, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register Aug 18 (Reuters) – Billionaire entrepreneur Elon Musk, who is trying to walk away from his deal to acquire Twitter Inc (TWTR.N), is seeking documents from … Read more

Stocks choppy, US yields fall as investors digest Fed minutes

A man in a protective mask walks past an electronic board displaying the Shanghai Composite Index, Nikkei Index, and Dow Jones Industrial Average during the coronavirus disease (COVID-19) outbreak outside a real estate agency in Tokyo, Japan, March 7, 2022. REUTERS / Kim Kyung Hoon Register now for FREE unlimited access to Reuters.com Register Wall … Read more

Bed Bath & Beyond meme shares tumble as billionaire Cohen to dump stake

A shopping cart is seen inside a Bed Bath & Beyond store in Manhattan, New York City, US, June 29, 2022. REUTERS/Andrew Kelly/File Photo Register now for FREE unlimited access to Reuters.com Register Aug 18 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) shares fell 15% on Thursday after billionaire investor Ryan Cohen announced plans … Read more

Analysis: Chinese central bank, under pressure to ease, is curbed by inflation, Fed jitters

Economic recovery looks increasingly shaky PBOC sees further easing in response – policy insiders PBOC likely to cut key lending rates next week to boost demand Upcoming RRR cut is considered unlikely due to enough money in the economy PBOC Has Limited Room To Ease Amid Inflation, Capital Flight Concerns BEIJING, Aug. 17 (Reuters) – … Read more

Column: US steps in EV accelerator to break Chinese metal ties: Andy Home

LONDON, Aug. 16 (Reuters) – The Inflation Reduction Act (IRA) includes the “largest investment ever in combating the existential crisis of climate change,” said President Joe Biden, who will sign the bill later on Tuesday. About $369 billion in federal funds will flow into climate change and energy security, increasing domestic capacity to produce wind … Read more

Elon Musk says he’s buying Manchester United

Aug 16 (Reuters) – Elon Musk, the world’s richest person, tweeted on Tuesday that he bought football club Manchester United Plc (MANU.N), without giving details. Musk has a history of being unconventional and making irreverent tweets, and it wasn’t immediately clear whether he intended to make a deal to secure Manchester United. “I like to … Read more

Philips bids farewell to CEO amid massive recall

Van Houten leaves the helm after almost 12 years To be replaced on October 15 by Connected Care head Jakobs Shares up 2% but down more than 50% since product recall AMSTERDAM, Aug. 16 (Reuters) – Philips (PHG.AS) Chief Executive Frans van Houten will leave the company in October, the Dutch health tech company said … Read more

US housing market starts near 1-1/2-year low; factory output bounce back

Home start-up drops 9.6%; building permits fall 1.3% Single-family start tumbles 10.1%; licenses decrease 4.3% Home construction backlog is up 5.0% Production production recovers 0.7% WASHINGTON, Aug. 16 (Reuters) – US housing construction fell to its lowest level in nearly 1-1/2 years in July, weighed down by higher mortgage rates and building materials prices, suggesting … Read more