Central bank digital currencies get full BIS backing
Dubbed the central bank to the world’s central banks, the BIS, which is coordinating many of their discussions on digital currencies, set out recommendations on Wednesday on how a CBDC such as a digital dollar, euro, yen or yuan should look. Key takeaways Central bank digital currencies (CBDCs) offer in Continue Reading
Oil may hit $100 but volatility will also grow, say energy CEOs
LONDON, June 22 (Reuters) – Benchmark oil prices could hit $100 a barrel and price volatility could also grow due to lower investments and the energy transition, the heads of top energy companies said on Tuesday. “There is quite a chance to reach $100 but we could see again in Continue Reading
PRECIOUS-Gold gains after U.S. Fed chief calms rate hike jitters
Gold prices rose on Wednesday after U.S. Federal Reserve Chair Jerome Powell pledged to keep interest rates near zero for some time, although gains were capped by a slight uptick in the dollar as investors waited for further clarity on inflation. Spot gold XAU= was up 0.2% at $1,781.18 per Continue Reading
UK May CBI trends total orders 19 vs 17 prior
The CBI readings are a survey on manufacturers to rate the level of volume for orders expected during the next 3 months. Factory output expectations the strongest since 1982 and order books strongest since 2019.
London’s FTSE 100 drops to one-month low; Morrisons surges
* FTSE 100 down 0.8%, FTSE 250 off 0.5% London’s FTSE 100 index fell to its lowest level in a month on Monday, led by weakness in heavyweight mining and travel stocks, with investors weighing inflation concerns ahead of economic data and Bank of England’s rate decision later in the Continue Reading
Britain’s House Prices Edge Up 0.8% in May-June, Rightmove Says
The UK’s house prices between mid-May and early June recorded their sharpest growth for the period since 2015 amid a shortage of available properties, Reuters reported Monday, citing property website Rightmove. The prices for the period grew 0.8% compared with the prior month when prices climbed 1.8% driven by strong Continue Reading
Airlines, holiday companies ramp up pressure on Britain to ease travel rules
Britain’s airlines and holiday companies are planning a “day of action” on Wednesday to ramp up pressure on the government to ease travel restrictions, with just weeks to go before the start of the peak summer season. Travel companies, whose finances have been stretched to breaking point during the pandemic, Continue Reading
China’s cryptocurrency-mining crackdown spreads to Sichuan
By Samuel Shen and Alun John China’s crackdown on cryptocurrency “mining” has extended to the southwest province of Sichuan, where authorities ordered cryptocurrency mining projects closed in the major mining centre. Cryptomining is big business in China, accounting for more than half of global bitcoin production. But the State Council, Continue Reading