Cryptoverse: Blockchain bridges fall into troubled waters

Cryptoverse: Blockchain bridges fall into troubled waters

Representations of cryptocurrency Bitcoin, Ethereum and Dash plunged into water in this illustration taken, May 23, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com register Aug 9 (Reuters) – Another day, another hack – and another blockchain bridge burned. When thieves stole an estimated $190 million from US crypto firm Nomad last … Read more

Berkshire Hathaway posts massive $43.8 billion loss; operating results improve

Berkshire Hathaway posts massive .8 billion loss;  operating results improve

Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, Nebraska, US, May 4, 2019. REUTERS/Scott Morgan//File Photo Register now for FREE unlimited access to Reuters.com register Aug 6 (Reuters) – The slide in US stock prices … Read more

US labor market failures recession fears as job growth surges in July

US labor market failures recession fears as job growth surges in July

Nonfarm payrolls increase 528,000 in July Unemployment rate falls to 3.5% from 3.6% in June Average hourly earnings rise 0.5%; up 5.2% year-on-year Participation rate falls to 62.1% from 62.2% in June WASHINGTON, Aug 5 (Reuters) – US job growth unexpectedly accelerated in July, lifting the level of employment above its pre-pandemic level and pouring … Read more

Fed officials beat inflation drum; 50-basis-point rate hike ‘reasonable’ next month

Fed officials beat inflation drum;  50-basis-point rate hike ‘reasonable’ next month

Aug 3 (Reuters) – Federal Reserve officials voiced their determination again on Wednesday to rein in high inflation, although one noted a half-percentage-point hike in the US central bank’s key interest rate next month might be enough to march toward that goal. “I start from the idea that 50 (basis points) would be a reasonable … Read more

OPEC+ agrees tiny output rise in setback for Biden

OPEC+ agrees tiny output rise in setback for Biden

OPEC to raise output target by 100,000 bpd from Sept OPEC faces output problems to meet existing targets US seeking higher OPEC production to counter Russia Biden trip, US arms sales failed to persuade DUBAI/LONDON, Aug 3 (Reuters) – OPEC+ is set to raise its oil output goal by 100,000 barrels per day, an amount … Read more

BP boosts dividend after profit hits 14-year high

BP boosts dividend after profit hits 14-year high

Profits soar to $8.45 bln, far exceeding forecasts BP boosts dividend by 10% BP to boost spending on oil and gas, CEO says Profits driven by strong oil trading, hit by LNG LONDON, Aug 2 (Reuters) – BP’s (BP.L) second quarter profit soared to $8.45 billion, its highest in 14 years, as strong refining margins … Read more

Inflation begins to strain finances of young, low-income Americans

Inflation begins to strain finances of young, low-income Americans

A shopper wearing a face mask is pictured at a Dollar Tree store in Pasadena, California, US, June 11, 2020. REUTERS/Mario Anzuoni Register now for FREE unlimited access to Reuters.com register NEW YORK, Aug 1 (Reuters) – High inflation forces Americans to spend more on gas and bills, young and low-income consumers are starting to … Read more

GLOBAL ECONOMY Factories squeezed by higher prices, weak demand

GLOBAL ECONOMY Factories squeezed by higher prices, weak demand

Staff work inside a non woven filter fabric factory, where the fabric is used to make surgical face masks, in Taoyuan, Taiwan, March 30, 2020. REUTERS/Ann Wang/File Photo Register now for FREE unlimited access to Reuters.com register WASHINGTON/LONDON, Aug 1 (Reuters) – Factories across the United States, Europe and Asia struggled for momentum in July … Read more

HSBC hangs up on Ping An break-up call, lifts payout and profit goal

HSBC hangs up on Ping An break-up call, lifts payout and profit goal

HSBC to revert to paying quarterly dividends from 2023 Aims to win over investors with higher profitability target Says demerger of Asian business has huge risks London shares rise 6% LONDON/SINGAPORE, Aug 1 (Reuters) – HSBC (HSBA.L) pushed back on a proposal by top shareholder Ping An Insurance Group Co of China (601318.SS) to split … Read more

Shenzhen accelerates China’s driverless car dreams

Shenzhen accelerates China’s driverless car dreams

SHENZHEN, China, Aug 1 (Reuters) – On a busy downtown street three delivery bikes suddenly dart over the pedestrian crossing ahead of the car. On the car’s dashboard they look like small 3D blue blocks from a 1990s video game. The steering wheel turns itself a notch and the vehicle slows to a gentle halt, … Read more