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The pain now buffeting DeFi apps was triggered after centralized crypto lenders Celsius Network and Babel froze deposits and the rumored collapse of fund Three Arrows Capital sent crypto prices down by double digits over the course of a week. Celsius had worked with many DeFi apps to earn the high returns it offered. Much … Read more
Pakistan’s government has already ordered shopping malls and factories to shut early in various cities including Karachi, Lahore, Islamabad and Rawalpindi, and cut the working week by a day. Prime Minister Shehbaz Sharif’s administration has increased pump prices by as much as 83% in less than a month as he tries to curb subsidies and … Read more
(Bloomberg Businessweek) — A new TV commercial in India features white-clad mourners grieving at the funeral rites of a departed loved one. The object of their grief is a refrigerator. “”—or “What use is a refrigerator?”—ask matching full-page ads for the campaign touting instant grocery brand Dunzo, which offers delivery of fresh items in minutes. … Read more
The first half of this year ranks among the worst on record for stocks, with the S & P 500 losing more than a fifth of its value. But, the selling could ease a bit in the second half, if history of similar terrible starts is any guide. Mounting fears of a recession caused by … Read more
The donation will be managed by the Adani Foundation for bolstering health care.
A confluence of positive factors could drive strong gains for Veeva Systems, a cloud-based software provider for the life sciences industry, according to Goldman Sachs. Goldman initiated coverage of the stock with a buy rating and a price target of $253 per share, which implies upside of about 34% from Wednesday’s close. The company is … Read more
Russian one ruble coin and Russian flag displayed on a screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on March 8, 2022. Jakub Porzycki | Nurphoto | Getty Images Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of roughly 1.3% on the previous day and its strongest … Read more
(Bloomberg) — If you’re a stock trader, you should probably be turning your attention to cryptocurrencies right about now. That’s according to Mark Mobius, who co-founded Mobius Capital Partners after spending more than three decades at Franklin Templeton Investments. “Cryptocurrencies are a measure of investor sentiment,” he said in an interview Wednesday. “Bitcoin goes down, … Read more
S&P 500 futures were lower Wednesday night after the major indexes slipped into the red at the end of regular trading and investors weighed the likelihood of a recession after Federal Reserve chair Jerome Powell acknowledged it’s a possibility. Futures tied to the broad market index fell 0.1%, while the Dow Jones Industrial Average futures … Read more
Federal Reserve Chairman Jerome Powell told congressional lawmakers Wednesday that the central bank is determined to bringing down inflation and has the ability to make that happen. “At the Fed, we understand the hardship high inflation is causing. We are strongly committed to bringing inflation back down, and we are moving expeditiously to do so,” … Read more