Morning Bid: Yuan, euro and pound head down the Hole
Global central banks are scattering again, propelling a resurgent U.S. dollar to its highest in almost two years against China’s yuan and back through parity against the euro.
Public sector paralysed as Lebanon lurches towards ‘failed state’
He rushes to water the garden at his home in the hills south of Beirut, using the single hour of rationed state power to run the sprinkler. He then phones his mother, who is struggling to get a new passport at a state agency grappling with paper and ink shortages. “The public sector is at its end if we keep going like this,” Chaar told Reuters.
Crypto.com gets UK regulatory approval
Singapore-based cryptocurrency platform Crypto.com has registered with Britain’s financial services regulator, the company said in a statement on Wednesday.
Russian rouble leaps to more than 2-week high past 60 vs dollar
The rouble surged to more than two-week highs on Thursday against the dollar and euro and Russian stocks edged higher, helped by stronger oil prices and an upcoming tax period that usually boosts rouble demand.
S.Korea to attend preliminary meeting of U.S.-led chipmaker group
South Korea is expected to attend a preliminary meeting for a U.S.-led group of major microchip manufacturers including Taiwan and Japan, South Korea’s foreign minister said on Thursday.
Ghana delivers biggest rate hike ever at emergency meeting
Ghana’s central bank on Wednesday delivered its biggest rate hike ever, a 300 basis point increase to 22%, at an emergency meeting to address the economy’s rapid deterioration amid crippling inflation.
Korea’s SK invests $100 million in EV-focused startup Atom Power
Korea’s SK Inc (034730.KS) has invested $100 million in North Carolina startup Atom Power, which aims to upgrade the electric vehicle (EV) charging experience in the United States with new hardware and software, the companies said Thursday.
Analysis: 100 banks, 1,000 suspects: German fraud probe puts Scholz on the spot
German chancellor Olaf Scholz faces lawmakers’ questions this week over his role in tackling a multibillion-euro tax fraud as a sprawling probe into the scheme threatens to undermine him as he grapples with an energy crisis and the fallout of war.
Exclusive: China’s EVE to supply BMW with large Tesla-like cylindrical batteries in Europe
China’s EVE Energy Co Ltd (300014.SZ) will supply BMW (BMWG.DE) with large cylindrical batteries for its electric cars in Europe, two people with knowledge of the matter said, as the German automaker follows Tesla Inc (TSLA.O) in adopting the new technology.
Exclusive: Biden’s emergency board calls for railroad wage hikes to resolve contract talks
U.S. President Joe Biden’s emergency board tasked with helping major freight railroads and unions end a contract negotiation stalemate proposed on Tuesday annual wage increases of between 4% and 7% through 2024, according to a report seen by Reuters.
