Global smartphone shipments suffered their worst quarterly drop on record in a clear sign of cooling consumer demand that signals more pain for manufacturing hubs like South Korea and Vietnam.
(Bloomberg) — A raft of bonds tied to Indian billionaire Gautam Adani fell further Thursday after a short seller accused his conglomerate of stock manipulation and accounting fraud.
Chevron Corp. plans to buy back $75 billion of shares and increase dividend payouts after a year of record profits that evoked angry denunciations from politicians around the world as soaring energy prices squeezed consumers.
Mango Labs LLC sued the trader who allegedly raked in $114 million in 20 minutes in October by illegally manipulating the price of its cryptocurrency tokens on its exchange.
The Bank of Japan indicated it had high hopes its enhanced fund supplying operations will help its yield curve control program, after the latter came under the most intensive market attack under Haruhiko Kuroda’s decade-long governorship earlier this month.
Growing expectations that the Bank of Japan will drop its yield-curve control policy sooner rather than later are triggering a 94% surge in sales of yen bonds with shorter maturities that are less vulnerable to future interest-rate action.
(Bloomberg) — South Korea’s economy shrank for the first time since the beginning of the pandemic last quarter, an outcome that supports the view the central bank is likely done with interest rate hikes for now.
As recently as last week, US officials insisted the M1 Abrams tank was a bad fit for Ukraine. Yet on Wednesday, President Joe Biden reversed course and offered 31 of them, saying the 70-ton vehicle would “enhance Ukraine’s capacity to defend its territory.”
The US Treasury Department refused Wednesday to provide House Republicans any suspicious activity reports it may have on foreign banking and other business transactions by Hunter Biden and other members of President Joe Biden’s family.
The growing clamor in Congress to completely ban TikTok in the US raises the stakes for the Biden administration, which is in the late stages of reviewing the security risks of the popular social media app.
