French stocks traded lower on Thursday as investors awaited the ECB\'s rate decision as well as President Christine Lagarde\'s press conference for directional cues. The central bank is expected to keep interest rates unchanged at record highs for the fourth policy meeting in a row but could signal potential future cuts in case there is...
By Josh Ye HONG KONG (Reuters) - Lingxi Games, Alibaba (NYSE:BABA) Group\'s video games arm, has told staff its leadership team will step down to make way for younger management, according to an internal memo. Since last year, Alibaba has focused on promoting younger people born after 1985 to management teams - a strategy it...
The Hong Kong government recognized Binance, a prominent cryptocurrency exchange, with the Cyber Security Professional Merit Award, highlighting its efforts to safeguard users in the dynamic Web3 landscape. The crypto exchange received the award under the banking and finance category. Thus, it became the only Web3 firm to receive such an award from Hong Kong...
U.K. stocks declined on Thursday as data from mortgage lender Halifax continued to suggest a relatively stable start to 2024. British house prices rose by 1.7 percent in the year to February, slowing from January\'s 2.3 percent. increase, Halifax reported. On a monthly basis, house prices advanced 0.4 percent from January, following a 1.2 percent...
HONG KONG (Reuters) - A Hong Kong court adjourned a hearing to liquidate Chinese property developer Kaisa Group to April 29 after a bond trustee, instructed by a major group of dollar bondholders, replaced the original petitioner. The latest development came after Broad Peak Investment, which filed the winding-up petition in July in relation to...
Hut 8, a Bitcoin mining company, has announced the closure of its mining site in Drumheller, Alberta, Canada, citing power disruptions and rising energy costs as significant factors. The decision comes amid escalating energy costs and power disruptions, which are severely impacting the site’s profitability. The Drumheller facility, which currently contributes approximately 1.4% of Hut...
European stocks were subdued on Thursday as investors awaited cues from the ECB\'s rate decision as well as President Christine Lagarde\'s press conference later in the day. The central bank is expected to keep interest rates unchanged at record highs for the fourth policy meeting in a row but could signal potential future cuts in...
By Scott Murdoch SYDNEY (Reuters) - China Evergrande (HK:3333)\'s liquidators have hired three law firms to advise on the troubled property giant\'s winding-up process, according to sources with direct knowledge of the matter. Global firm Clifford Chance and Hong Kong firms Tanner De Witt and Karas So were mandated recently to provide legal advice on...
BlockFi has finalized a settlement with FTX and Alameda Research to receive $874.5 million to help repay customers affected by its bankruptcy. According to a recent court filing by the United States Bankruptcy Court for District of New Jersey, the comprehensive agreement detailed that BlockFi will obtain a mix of claims against FTX valued at...
Labor productivity in the U.S. saw an unrevised jump in the fourth quarter of 2023, according to a report released by the Labor Department on Thursday. The Labor Department said labor productivity shot up by 3.2 percent in the fourth quarter, unchanged from the previous estimate. Economists had expected the surge in productivity to be...