Tether, the world’s largest stablecoin, said on Thursday it has boosted its holdings of U.S. government debt while cutting exposure to riskier assets, the first look at its reserves since the token was rocked by the crypto sector’s recent sell-off. Stablecoins, a variety of cryptocurrencies designed to keep a steady value, are in sharp focus […]
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Canada on Thursday said it plans to ban the use of China’s Huawei Technologies Co Ltd and ZTE Corp 5G gear to protect national security, joining the rest of the so-called Five Eyes intelligence-sharing network. “We intend to exclude Huawei and ZTE from our 5G networks,” Industry Minister Francois-Philippe Champagne told reporters in Ottawa. “Providers […]
War has always had a rippling effect on geopolitics and global economies, more so than ever in today’s interconnected and globalized world. India, which has maintained a friendly political relationship with Russia since 1970, finds itself at a crossroads in the wake of recent global events. As the Russian Ukrainian war rages on, previously well-aligned […]
Georgia Governor Brian Kemp will announce on Friday that Hyundai Motor Group is investing more than $7 billion in the state, an announcement coinciding with a visit by President Joe Biden to Seoul, sources told Reuters. The South Korean auto group, which houses Hyundai Motor Co and Kia Corp, will build a plant to make […]
Joe Biden will visit Japan and South Korea on his first Asian trip as U.S. president, carrying a clear message to China, advisers and analysts say – don’t try what Russia did in Ukraine anywhere in Asia, and especially not in Taiwan. Biden departs for the five day trip on Thursday, after spending several months […]
Cisco Systems Inc cut its full-year earnings forecast on Wednesday after COVID lockdowns in China and the war in Ukraine dragged sales below estimates in the third quarter, sending shares down 13% in extended trading. It also said fourth-quarter revenue would decline by 1% to 5.5%, becoming the latest U.S. company to outline a hit […]
Japanese conglomerate Sony Group Corp said it is well-positioned to play a leading role in the metaverse, or immersive virtual worlds, which commentators speculate will massively disrupt industries and establish new powerhouses. The metaverse is a vague term encapsulating the idea that consumers will spend more time in online simulated environments. While the concept is […]
Saudi Arabia’s Public Investment Fund (PIF) has taken a 5.01% stake in Nintendo Co Ltd as the sovereign wealth fund increases its exposure to the Japanese video gaming industry. The investment in the Kyoto-based group company was made for investment purposes, a filing said, and comes as PIF has also taken stakes in video game […]
China is in talks with automakers about extending costly subsidies for electric vehicles (EV) that were set to expire in 2022, aiming to keep a key market growing as the broader economy slows, three people familiar with the matter said. The move by policymakers comes as the world’s second-biggest economy has slowed sharply – and […]
Stablecoins, the safe and strait-laced cousins of crypto, are looking distinctly dicey. Tether, USDC and others lost their prized pegs to the dollar last week in a bout of market mayhem that shook faith in these coins that were designed to sidestep crypto volatility. But was it an isolated outburst, or are they losing their […]