Oil was nearly steady on Thursday as a surprise drop in U.S. crude stockpiles offset a smaller-than-expected cut to Russian supplies, while investors closely watched developments on Iraqi Kurdistan oil exports. Brent crude futures fell 5 cents, or 0.1%, to $78.23 a barrel at 0630 GMT, while West Texas Intermediate crude rose 12 cents, or […]
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Countries in a relatively stronger position should help vulnerable nations especially those under debt distress, International Monetary Fund managing director Kristalina Georgieva said on Thursday. The IMF chief said such assistance would be particularly important against the backdrop of high interest rates and currency depreciation. “We urgently need faster and more efficient global mechanisms for […]
The United Nations General Assembly voted on Wednesday to pass a resolution asking the world’s top court to define the obligations of states to combat climate change, a legal opinion that could drive countries to take stronger measures and clarify international law. The historic resolution seeking an advisory opinion from the International Court of Justice […]
A former chief executive of Binance’s de-facto U.S. subsidiary has enlisted a former federal prosecutor and top cop at the Commodity Futures Trading Commission to represent her in the U.S. government’s investigations into the giant cryptocurrency exchange, a person with direct knowledge told Reuters. Catherine Coley, who launched Binance.US in 2019 and left suddenly two […]
Britain will set out plans on Thursday to boost its energy security and independence through investment in moving towards cleaner, more affordable energy sources. Wholesale gas and electricity prices in Europe surged after Russia’s invasion of Ukraine last year and the British government has been subsidising household and business energy bills since October. “Transforming our […]
U.S. stocks rallied on Wednesday, with all three major indexes ending up at least 1% as upbeat outlooks from Micron Technology and other companies eased some worries about the health of the economy. In a sign of potential further strength, the S&P 500 also closed above its 50-day moving average for the first time since […]
Wall Street banks including JPMorgan Chase & Co and Goldman Sachs Group Inc are looking to start trading private credit loans, Bloomberg News reported on Wednesday, citing people familiar with the matter. The banks are among the firms talking to private debt funds about facilitating secondary-market transactions, according to the report. JPMorgan and Goldman Sachs […]
Republican lawmakers on Wednesday prodded Wall Street’s top regulator to justify his agency’s efforts to regulate companies’ climate disclosures and criticized the U.S. Securities and Exchange Commission for what they said was hasty rulemaking. In an appearance before a House of Representatives panel overseeing federal spending, SEC Chair Gary Gensler defended the agency’s request for […]
The UK’s finance minister, Jeremy Hunt, said Britain would not go “toe-to-toe” with the U.S. and the European Union by offering billions in green subsidies and tax breaks but would look at incentivising private investment, the Times reported on Wednesday. “Our approach will be different – and better. We are not going toe-to-toe with our […]
A look at the day ahead in Asian markets from Jamie McGeever. The recovery from this month’s banking shock is gathering momentum and looks like it will roll into Thursday, leaving investors free to pick up where they left off on Wednesday as there are no major economic or policy events on the Asian calendar. […]