Author: IA PressRoom

© Reuters Investing.com — Investors attempt to gauge the outlook for the cryptocurrency industry after the U.S. securities regulator sues two major crypto exchanges. Elsewhere, Chinese trade data points to sluggishness in the post-COVID recovery for the world’s second-biggest economy, while the OECD marginally upgrades its global growth outlook for 2023. 1. Traders react to SEC’s crypto crackdown The price of the world’s top cryptocurrency surged by more than 4% on Wednesday, recovering from some losses in the prior session, as traders digested the impact of two lawsuits brought by U.S. regulators against leading crypto exchanges Coinbase Global (NASDAQ:) and Binance.…

© Reuters. FILE PHOTO: A passerby walks past an electric monitor displaying various countries’ stock price index outside a bank in Tokyo, Japan, March 22, 2023. REUTERS/Issei Kato By Samuel Indyk and Xie Yu LONDON (Reuters) – European stock markets dipped on Wednesday and the U.S. dollar nudged higher as weak Chinese trade data had investors fretting about softening global demand, with attention turning towards next week’s pivotal inflation data and Federal Reserve meeting. Meanwhile, plunged to a record low against the greenback as authorities appeared to loosen stabilising measures after the government signalled a pivot to more orthodox policies.…

Source: TradingViewThe price of Cardano (ADA) has slipped by 3% in the past 24 hours, following the commencement of SEC legal actions which name the altcoin as a security. At $0.341594, ADA is down by 9% in the past week, although the cryptocurrency has gained by 38.5% since the beginning of the year.However, such an increase may be undermined if the SEC’s labelling of ADA as a security results in exchanges delisting the altcoin, something which could depress its price considerably.And with Cardano founder Charles Hoskinson responding to the SEC’s latest actions by claiming the existence of an agenda to push…

The Biden administration is expected to soon finalize regulations restricting which home gas-powered furnaces consumers are able to purchase in the future.According to experts, the regulations — proposed in June 2022 by the Department of Energy (DOE) — would restrict consumer choice, drive prices higher and likely have a low impact on greenhouse gas emissions. The agency could finalize the rules targeting residential gas furnaces, which more than 50% of American households rely on for space heating, at any point over the upcoming weeks.”This is a classic example of one size not fitting all,” Ben Lieberman, a senior fellow at…

Scammers appear to be targeting mourners nationwide with phone calls impersonating funeral-home staff, according to local media reports and consumer advisories. Grieving people in Georgia and California have told local media outlets in recent months that they were contacted by scammers who posed as funeral-home workers and requested payment relating to arrangements for the death of a loved one. Business leaders have also warned consumers of the mounting trend in West Virginia and Louisiana.  In the Georgia case, a woman sent a fake funeral-home worker $1,200 through Zelle the day before her father’s funeral was scheduled to take place before realizing her mistake, according to Fox 5…

UKRAINE – 2021/12/17: In this photo illustration, Paychex, logo seen displayed on a smartphone. … [+] (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty Images Paychex stock currently trades at $111 per share, around 21% below its level of $141 seen on April 6, 2022 (pre-inflation shock high), and has the potential for sizable gains. Paychex PAYX saw its stock trading at around $114 at the end of June 2022, just before the Fed started increasing rates, and remains down by about 3% from these levels. In comparison, the S&P 500 gained about 13% during this…

Diageo boss Ivan Menezes has passed away after a brief illness, the drinks company announced on Wednesday morning.Menezes, who was chief executive for 10 years, had been in hospital being treated for medical conditions including a stomach ulcer, and had suffered a setback last weekend. As a result, the multinational company announced on Monday that incoming chief executive Debra Crew would step in a month early.“This is an incredibly sad day. Ivan was undoubtedly one of the finest leaders of his generation,” said Diageo chair Javier Ferrán.“We are truly privileged to have had the opportunity to work alongside such a…

© Reuters. Investing.com — The global economy is now expected to grow at a slightly faster pace this year, according to the latest forecast on Wednesday from the Organization for Economic Co-operation and Development. OECD said it now expects the global economy to expand 2.7% this year, a slight increase from its previous projection of 2.6%. However, when not including the pandemic-hit year of 2020, this would still be the lowest annual rate of growth since the 2008-2009 financial crisis, it noted. Lower energy prices are easing the strain on household budgets, while business and consumer sentiment is also improving,…

© Reuters. FILE PHOTO: Shoppers walk past a Zara clothes store, part of the Spanish group Inditex, in Las Palmas de Gran Canaria, Spain, December 13, 2022. REUTERS/Borja Suarez By Corina Pons and Helen Reid MADRID/LONDON (Reuters) -Zara owner Inditex (BME:) said on Wednesday sales of its spring-summer collection jumped by 16% over the past month, maintaining its strong run despite higher wage costs and the loss of its sizeable Russian business. The world’s biggest fast fashion company reported a better-than-expected 54% rise in net profit of 1.2 billion euros ($1.24 billion) for the first quarter that ended in April,…

© Reuters. Investing.com – The U.S. dollar edged higher in early European trade Wednesday, as traders sought out this safe haven after disappointing Chinese trade data hit sentiment. At 03:05 ET (07:05 GMT), the , which tracks the greenback against a basket of six other currencies, traded 0.1% higher at 104.162, not far removed from the 2½-month peak of 104.70 seen at the end of May. sank to a 13-month low in May, according to data released earlier Wednesday, driven chiefly by a surprise drop in as foreign demand for Chinese goods dried up.  The slump in exports is indicative…