By Elizabeth Howcroft (Reuters) – A coin called TON has leapt in value in recent months, with investors betting its integration with messenger service Telegram could bring the cryptocurrency to the app’s estimated 900 million users. Telegram endorsed TON in September last year, saying the blockchain and associated token would be its “official Web3 infrastructure”. …
By Joice Alves LONDON (Reuters) – Sterling edged lower against the dollar on Thursday ahead of a Bank of England policy meeting, with the central bank expected to hold rates steady but flag when it intends to lower the cost of borrowing. According to LSEG data, money markets are pricing in an almost 95% chance …
By Alasdair Pal SYDNEY (Reuters) -Australia’s Labor government on Thursday laid out a strategy to boost natural gas development even as it remains committed to net zero carbon emissions by 2050, highlighting demand from key Asian trade partners. Australia is one of the world’s largest exporters of liquefied natural gas (LNG), and Resources Minister Madeline …
Australia backs long-term gas drilling despite 2050 climate goals Read More »
By William Schomberg LONDON (Reuters) – The Bank of England is likely to take another step towards its first interest rate cut in four years on Thursday as inflation falls, but will probably be cautious about signalling that a move is imminent. The central bank is widely expected to keep its benchmark Bank Rate on …
Bank of England likely to move closer to first rate cut since 2020 Read More »
By Max A. Cherney and Stephen Nellis (Reuters) -Arm Holdings gave a full-year revenue forecast on Wednesday that missed the expectations of investors who had sent the chip designer’s shares soaring last September following its IPO on optimism around AI. Shares of Arm fell about 7% in extended trading after the report. For the current …
Arm’s annual revenue forecast fails to impress investors; shares tumble Read More »
By Yuvraj Malik (Reuters) -Uber posted a surprise quarterly loss and forecast gross bookings below Wall Street expectations, sending its shares down 9% and putting the ride-share and food delivery company on course to shed more than $10 billion in market value. Uber’s disappointing forecast was in sharp contrast to an upbeat guidance late on …
Uber shares tumble as weaker ride-share demand hurts Q2 forecast Read More »
By Jaspreet Singh (Reuters) – A group that represents audio streaming firms including Spotify and France’s Deezer in Europe has urged the European Commission to reject Apple’s proposal in a music streaming case. Digital Music Europe expressed concern in a letter submitted to the European Commission on Tuesday that Apple’s proposal to comply with the …
By Tim Hepher and Nathan Gomes (Reuters) -The head of aircraft leasing giant AerCap predicted that tightness in global jet markets would last through the rest of the decade, fuelled by supply chain issues and conservatism on production among engine makers. Demand for air travel has rebounded since the pandemic, while planemakers are struggling to …
AerCap sees tight jetliner market, places big engine order Read More »
(Reuters) – Russia cut its crude oil production by less than pledged last month, exceeding a target agreed on in March with the Organization of Petroleum Exporting Countries (OPEC), Bloomberg news reported, citing calculations based on official data. Daily crude production averaged about 1.285 million tons last month, equivalent to 9.418 million barrels per day, …
Russia cuts oil production by less than agreed last month, Bloomberg says Read More »
By Pranav Kashyap, Shubham Batra and Khushi Singh (Reuters) -The UK’s FTSE 100 benchmark stock index scaled new highs on Wednesday following upbeat corporate updates while investors awaited the Bank of England’s interest rate verdict. The blue-chip FTSE 100 ended the session up 0.5%, notching a record high of 20,491.99 points. The index was also …
FTSE 100 hits record high, pound slips ahead of BoE verdict Read More »
