Following the meltdown of crypto exchange FTX last year, that resulted in billions of dollars in losses for millions of investors, Britain’s finance ministry is planning “robust” regulations for crypto assets. Globally, cryptocurrency is currently unregulated, with firms only required to conduct checks to prevent money laundering. However, the Financial Conduct Authority (FCA) of the United Kingdom…
The employees who have lost their jobs as a result of the demise of regional airline Flybe should apply for positions with EasyJet and Ryanair, according to the two budget airlines. Flybe went into administration on Saturday, laying off 277 people. The British Airline Pilots’ Association (Balpa) said it received phone calls from concerned Flybe…
The fallout from a damning report by US short-seller Hindenburg Research speeded up the selloff in Gautam Adani’s business empire on Friday, wiping out more than $51 billion in market value in two sessions as the wealthiest man of Asia struggles to control the blowback. The drubbing is stacking up strain on the Indian tycoon, eroding his net…
Intel Corp has suffered a major setback at a time when smaller rival AMD and others are gaining ground. It claims that it will regain its equilibrium this year. On Thursday, the company surprised the market by forecasting revenue that fell short of Wall Street estimates by about $3 billion. The global economy’s weakness only…
According to the CEO of Ingka Group, which owns the majority of IKEA stores, demand for the furniture retailing giant’s products in Europe will continue to rise during the current fiscal year, and the growth in demand will be driven by customers in the home furnishings segment that has remained steady even during the Covid lockdowns. “We are right now optimistic…
Alphabet, Google’s parent company, will lay off 12,000 workers, the latest round of layoffs in the tech industry. In an internal email, Google and Alphabet CEO Sundar Pichai stated that he accepted “full responsibility” for the layoffs. The layoffs will affect 6% of Alphabet’s global workforce, including teams such as recruitment and engineering. This comes…
The UK and Europe have experienced a period of mild weather, which has caused wholesale gas prices to drop. This is a relief from the high prices that have resulted in skyrocketing energy costs. Prices for delivery in Europe decreased by 4.3% to €73.7 per megawatt hour in February, while prices in the UK decreased…
According to Dr. Chris Murray, director of a health research center at the University of Washington in Seattle, a dangerous new Covid-19 variant is unlikely to be spreading in China. His remarks come after US health officials warned earlier this week about the possibility of a new Covid variant emerging in China’s nationwide outbreak —…
Despite the relaxation of Covid-related restrictions, the majority of Chinese people still don’t want to leave their apartments, according to a survey by Oliver Wyman. According to a survey conducted over the weekend, more than 90% of consumers said they were staying home. For at least the upcoming few months, nearly 60% of respondents said…
Ford Motor Company reported a net loss for the third quarter, owing to its decision to shift spending away from the Argo AI self-driving business. Ford’s decision, which contrasts sharply with rival General Motors Co’s decision to double down on investments in its Cruise robotaxi unit, highlights the pressure on automakers to make difficult decisions…
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