Meta Platforms Inc said on Thursday it would change the legal basis on how Facebook and Instagram use personal data to target advertising in the European Union, after the bloc’s privacy regulator fined it for alleged breaches in January. The move, Meta said, will give EU users more options around how their data is handled […]
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German inflation eased significantly in March on the back of lower energy prices but still came in above forecast, adding to pressure on the European Central Bank to further tighten its monetary policy. German consumer prices, harmonised to compare with other European Union countries, rose by an annual 7.8% in March, preliminary data from the […]
Three major jolts in as many years coupled with the once unthinkable possibility of a power grid collapse have spooked reinsurers in South Africa, spelling an end to cheap coverage in the continent’s most developed insurance market. Insurance premiums are climbing worldwide on the back of rising inflation and interest rate hikes. But reinsurance rates […]
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 […]
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 […]
Bullish bitcoin has been a surprise winner of the banking blowout. Yet investors aiming to amp up their bets face an ominous obstacle: a lack of liquidity that could trigger wild price swings. The price of the No.1 cryptocurrency has jumped 40% to around $27,700 since March 10, when the failure of Silicon Valley Bank […]