business news

RBA rate decision, services PMI, currencies, oil

RBA rate decision, services PMI, currencies, oil

SINGAPORE — Shares in the Asia-Pacific mostly rose on Tuesday as the Reserve Bank of Australia hiked interest rates in line with expectations. South Korea’s Kospi increased 1.8% to close at 2,341.78, and the Kosdaq advanced 3.9% to 750.95. SK Hynix jumped 3.82% while Naver rose 3.4%. The Nikkei 225 in Japan gained about 1% …

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US, UK, Europe, Japan will be in recession over next 12 months: Nomura

US, UK, Europe, Japan will be in recession over next 12 months: Nomura

Thomas Calomiris, a third generation produce vendor, weighs an onion at Eastern Market as the US struggles with rising inflation May 20, 2022, in Washington, DC. Brendan Smialowski | AFP | Getty Images Many of the world’s leading economies will fall into a recession within the next 12 months as central banks move to aggressively …

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Byju’s clears 0 million payment to Aakash, completes 0 million fund raise

Byju’s clears $950 million payment to Aakash, completes $800 million fund raise

Edtech firm Byju’s said on Monday that it has completed payment that was due for the acquisition of Aakash Educational Service and received majority of $800 million fund which it announced in March. The company is estimated to have acquired Aakash Educational Services Limited for around $950 million. “Our fundraising efforts are on track and …

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Where the experts say to put your money

Where the experts say to put your money

Volatile markets, inflation hitting new highs and the risk of recession are making things tough for investors right now. “Looking out over the next 10 years, the forces that drove the rapid outperformance of growth over value are unlikely to repeat,” Paul Danis, head of asset allocation at Brewin Dolphin , told CNBC. “Bond yields …

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Oil slips as recession fears rumble on, tight supply stems losses

Oil slips as recession fears rumble on, tight supply stems losses

Oil pumpjacks in Los Angeles, California on January 28, 2022. Mario Tama | Getty Images Oil prices fell in early Asian trade on Monday, paring gains from the previous session as fears of global recession weighed on the market even as supply remains tight amid lower OPEC output, unrest in Libya and pressure on Russia. …

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To understand this vile market, study the dot-com crash of 2000

Forty years is an awfully long time. Yet that’s how much time has passed since we had an abomination like this first half of the year. Almost everything went down. Your stocks went down. Your bonds went down. Your house went down. Your crypto went down. The only thing that didn’t go down were the …

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Stock futures are flat after another losing week on Wall Street

Traders on the floor of the NYSE, July 1, 2022. Source: NYSE Stock futures were flat in overnight trading after the major averages finished another losing week. Stock futures tied to the Dow Jones Industrial Average slipped 30 points or 0.11%. S&P 500 futures dipped 0.08%, and Nasdaq 100 futures fell 0.04%. The moves come …

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US flight disruptions finally ease as the holiday weekend winds down

Lighted tunnel in the United Airlines terminal, O’Hare International Airport, Chicago Illinois. Andrew Woodley | Universal Images Group via Getty Images US airline delays eased on Monday as weather improved, a relief for travelers and airlines as the July Fourth holiday weekend comes to an end. As of Monday afternoon, about 1,200 US flights were …

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UK Army’s Twitter and YouTube accounts hacked to promote crypto scams

A screenshot of the British Army’s Twitter profile when it was hacked, via Wayback Machine. Its profile and banner pictures were changed to resemble a nonfungible token collection called “The Possessed.” A hacker compromised the social media accounts of the British Army to push people toward cryptocurrency scams. The army’s Twitter and YouTube profiles were …

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Crypto lender Vauld halts withdrawals as market crash takes its toll

Billions of dollars of value have been wiped off the cryptocurrency market in the last few weeks. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Crypto lender Vauld on Monday paused …

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