Finance
FinCEN Report Unveils Bitcoin's Role in Human Trafficking and Child Exploitation
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Gold Prices Plunge Below $2,000 as Stubborn Inflation Dashes Rate Cut Hopes
"Gold prices tumbled below the critical threshold of $2,000 per ounce, marking the lowest point in two months, as a U.S. inflation report that exceeded expectations dampened hopes for an imminent reduction in interest rates by the Federal Reserve. -
Dow Faces Sharp Decline Amid Hotter-Than-Expected Inflation Data
"The stock market experienced a significant downturn on Tuesday, with the Dow Jones Industrial Average plummeting over 500 points, marking one of its steepest declines since March 2023. This sell-off was spurred by unexpectedly high inflation data for January, which has cast doubts on the anticipated series of Federal Reserve rate cuts that many investors had been banking on to bolster the equity market.
The Latest
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Japanese Yen Surges Against U.S. Dollar Amid Suspected Intervention by Authorities
The Japanese yen experienced a sudden surge against the U.S. dollar on Monday, with traders citing suspected intervention by Japanese authorities to support the currency, which has been languishing at levels last seen over three decades ago. The dollar fell sharply to a low of 154.40 yen from as high as 160.245 earlier in the day, with banking sources reporting Japanese banks selling dollars for yen. -
Republic First Bank Closure: U.S. Bank's First Failure of 2024 Stirs Crypto Community
The U.S. banking sector faced its first hiccup of 2024 with the closure of Philadelphia-based Republic First Bank by federal regulators, an event that has not only stirred the banking community but also caught the attention of the cryptocurrency world. -
Bank of Japan Maintains Low Rates, Signals Readiness for Future Hikes as Inflation Outlook Improves
The Bank of Japan (BOJ) kept interest rates around zero on Friday and signaled its readiness to hike borrowing costs later this year, as it highlighted a growing conviction that inflation was on track to durably hit its target of 2% in the coming years. However, the lack of clear guidance on the future rate hike path triggered a broad-based decline in the yen, pushing it down to a fresh 34-year low near 157 to the dollar and keeping markets on edge over a currency intervention. -
US Treasury Yields Hit Yearly Highs as Rate Cut Expectations Shift to December
As the latest economic indicators roll in, U.S. Treasury yields have reached the highest levels seen this year, signaling a shift in investor expectations regarding the Federal Reserve's monetary policy timeline. The rise in yields, particularly evident in the 10- and 30-year bonds, underscores growing concerns about persistent inflation despite signs of slowing economic growth. -
BHP's $39 Billion Bid for Anglo American Could Create World's Largest Copper Producer
BHP Group, the world's largest mining company by market value, has launched an audacious $38.8 billion bid to acquire Anglo American. This proposed deal, the largest in the mining sector since records began, could potentially create the largest copper miner globally, a move that reflects the soaring demand for metals essential for renewable energy technologies.
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U.S. Prosecutors Seek 36-Month Prison Sentence for Ex-Binance CEO Changpeng Zhao Over Money Laundering Charges
U.S. prosecutors are pushing for a 36-month prison sentence for Changpeng Zhao, the founder and former chief executive of Binance, the world's largest cryptocurrency exchange, following his guilty plea to violating laws against money laundering. -
Gold Sees Temporary Dip but Long-Term Outlook Remains Bullish, Experts Say
Gold prices extended losses for a second day on Tuesday, hitting a more than two-week low as fears of escalating tensions in the Middle East subsided, prompting investors to book profits ahead of key U.S. economic data this week. Spot gold fell 0.3% to $2,318.90 per ounce, while U.S. gold futures slipped 0.6% to $2,331.80. -
Gold Prices Plummet in Largest Drop in Nearly Two Years Amid Easing Middle East Tensions
Gold experienced a dramatic plunge on Monday, marking the steepest intraday decline in nearly two years, as easing tensions in the Middle East diminished the demand for safe-haven assets. Spot gold dropped by 2.8% to a low of $2,324.96 per ounce at one point during the day, falling nearly $70 from the previous Friday's closing high-a significant retreat not seen since June 2022. -
Gold and Silver Face Profit-Taking Pressure Amid Perceived Easing of Middle East Tensions
Gold prices experienced a sharp decline on Monday, as geopolitical tensions in the Middle East appeared to ease and traders shifted their focus to upcoming U.S. economic data that could provide insights into the Federal Reserve's monetary policy outlook. The precious metal fell more than 2% to trade near $2,345 an ounce, ending a five-week rally, the longest such streak in over a year. -
SoftBank to Invest $960 Million in AI Capabilities, Eyes Leadership in Japanese Tech Industry: Report
Japanese telecommunications giant SoftBank Group has announced a significant investment aimed at boosting its AI data centers' computational power, with plans to spend approximately 150 billion yen ($960 million) by 2025.