LONDON—Oil prices edged higher on Wednesday as Saudi Arabia’s surprise weekend pledge to deepen output cuts outweighed weak Chinese export data. Brent crude futures were up 36 cents, or 0.5 percent, at $76.65 a barrel by 0949 GMT while U.S. West Texas Intermediate crude futures gained 37 cents, or 0.5 percent, to $72.11. Both benchmarks…
European Shares Dip as Chinese Trade Data Disappoints, Lira Plunges to Record Low
June 7, 2023
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LONDON—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, Turkey’s lira plunged to a record low against the greenback as authorities appeared to loosen stabilising measures…
Binance Lawsuit Triggers $700 Million in Withdrawals
June 7, 2023
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The Securities and Exchange Commission (SEC) lawsuit against crypto platform, Binance, triggered over $700 million in withdrawals as crypto traders continued to face losses. The SEC filed 13 charges against Binance and its CEO, Changpeng “CZ” Zhao, for allegedly participating in an “extensive web of deception” to mislead customers and evade federal regulatory laws. The case against…
Binance Lawsuit Triggers $700M in Withdrawals
June 7, 2023
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binanceBusiness & MarketsCompaniesCrime & Public Safetycrypto currencycryptocurrencyeconomyExecutive BranchInvestmentMarketsMedia & Big TechPolicies & ImpactsPoliticsSecurities and Exchange CommissionstocksTechTech NewsUS
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The Securities and Exchange Commission (SEC) lawsuit against crypto platform, Binance, triggered over $700 million in withdrawals as crypto traders continued to face losses. The SEC filed 13 charges against Binance and its CEO, Changpeng “CZ” Zhao, for allegedly participating in an “extensive web of deception” to mislead customers and evade federal regulatory laws. The case against…
Cheques to Disappear in Australia by 2030
Australians will soon say goodbye to cheques as the federal government has introduced plans to abolish the paper-based payment system by 2030. On June 7, the Australian government announced that it would completely phase out cheque usage no later than 2030 as part of a strategic plan to modernise the country’s payment system. The government…
IN-DEPTH: Democrats Decry GOP Anti-ESG Hearing as ‘An Attack on Economic Freedom’
June 7, 2023
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Finance and energy experts testified before the House Oversight Committee on Tuesday that the environmental, social, and governance (ESG) movement is impairing Americans’ retirement savings, reducing living standards, and infringing on civil rights, while Democrat members protested that GOP efforts against ESG threatened Americans’ economic freedom. “As American families continue to struggle under rampant inflation,…
Government Have ‘Given Up’ on Fighting Inflation: Deputy Liberal Leader
Deputy Opposition leader Sussan Ley said she believes the government “has given up” on trying to control inflation. “As I listened to the Treasurer yesterday, I felt that the government has given up. There was a shrugging of the shoulders, what more can we do attitude. But absolutely no plan to address the key issue…
Government Has ‘Given Up’ on Fighting Inflation: Deputy Liberal Leader
Deputy Opposition leader Sussan Ley said she believes the government “has given up” on trying to control inflation. “As I listened to the Treasurer yesterday, I felt that the government has given up. There was a shrugging of the shoulders, what more can we do attitude. But absolutely no plan to address the key issue…
Revealed: TikTok Code Worked on From China
June 7, 2023
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Software developers based in China are writing the code for TikTok, triggering concerns that the Chinese Communist Party (CCP) can access the data of more than one billion users worldwide, as well as force staff to silence dissenting voices, elevate pro-communist narratives, and sow seeds of division in democracies. A code sample seen by the…
Subway Inks Deal for 4,000 New Sandwich Shops in China Over Next 20 Years
June 6, 2023
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NEW YORK—Subway reached an agreement with a master franchisee to open nearly 4,000 new sandwich shops across mainland China over the next 20 years, it said on Tuesday. International expansion is a key growth strategy for the privately owned U.S.-based chain, which is in the midst of a turnaround plan that also relies on remodeled…
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