By Scott Murdoch and Sameer Manekar (Reuters) -Australian diversified investor Seven Group Holdings has offered A$1.9 billion ($1.24 billion) to take full control of building products group maker Boral (OTC:BOALY) in a bet Australia\'s infrastructure spending boom will be maintained in coming years. Seven Group, headed by billionaire Kerry Stokes and his family, already owns...
-- Most Asian stocks kept to a tight range on Monday, tracking weakness in Wall Street as stronger-than-expected inflation data fueled more fears of higher-for-longer U.S. interest rates. Wall Street indexes fell on Friday after data showed U.S. producer price index inflation grew more than expected in January. The reading, which came just days after...
BEIJING (Reuters) - Chinese electric vehicle giant BYD (SZ:002594) on Monday launched a new version of its plug-in hybrid sedan Qin Plus DM-i with a lower starting price, doubling down on price cuts to stay competitive in the world\'s largest auto market. The new model goes for a starting price of 79,800 yuan ($11,090), down...
Jupiter Asset Management’s compliance team blocked its investors from having any exposure to a cryptocurrency exchange-traded product(ETP)in one of its Irish UCITs funds,according to a Financial Times report. The reason for blocking the investment was due to,“divergent regulatory approaches in the EU.”UCITS are open-ended investment funds and are a popular form of investment vehicle,especially for...
Court Rules Against Crypto Mining Company,Will Not Force BC Hydro to Provide PowerConifex Timber Inc.,a forestry firm with a crypto mining business,has lost a court battle in which it had aimed to force BC Hydro,a Canadian electric utility in the province of British Columbia,to provide the power needed for its operations,the National Post reported. In...
UK-based digital asset liquidity provider B2C2 has secured a virtual asset service provider(VASP)registration expanding its operations to Luxembourg ahead of new rules being implemented in Europe. The Markets in Crypto Assets Regulation(MiCA),due to take effect this year,is the European Union’s comprehensive crypto law.The legislation promises legal certainty,compliance challenges and global implications.MiCA’s primary goal will be...
The controversial crypto tax reporting requirements within the bipartisan infrastructure bill signed into law in 2021 are now in effect as of January 1. These new Internal Revenue Service(IRS)rules mandate that cryptocurrency brokers report personal information on digital asset transactions over$10,000,including customers’names,addresses,and social security numbers,within 15 days. While the goal is increased transparency and reduced...
Societe Generale has issued a€10 million digital green bond on the Ethereum network.Mainstream financial institutions are showing growing interest in blockchain technology.The tokenization of funds demonstrates the potential of blockchain in financial applications.The issuance of green bonds using blockchain aligns with the trend towards sustainable finance.The digital format of these bonds offers enhanced transparency,traceability,and faster...
Gold prices took a technical support around$1,930 per ounce,driven by the cheer of softening US inflation,has been cut short but a mild rebound in the US Dollar overnight.Gold prices were confined to a restricted range nearing$1,960 per ounce after testing immediate resistance of$1,980 per ounce.As of 10:50 am Singapore Standard Time,Gold Comex December futures traded...
Inflation is a hidden tax on the common people and is something you need to understand and be positioned accordingly as both an investor/citizen moving into the near future.Imagine the value of your life’s work cutting in half every 15 hours,at no fault of your own,this is what happened during the worst case of hyperinflation...