BTC's rally has stalled since Friday for several reasons, including waning demand at record prices.The AUD/JPY pair has turned lower, hinting at a broad-based risk aversion amid the talk of a BOJ rate hike in December.A similar set-up in the yen rocked the global markets, including cryptocurrencies, in late July-early August this year.
(Bloomberg) -- Bitcoin is climbing back toward the elusive $100,000 price level again, snapping its longest losing since Donald Trump’s presidential victory triggered a record-breaking rally in the largest cryptocurrency. Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldSi
A federal judge on Wednesday threw out a defamation lawsuit against Fox News by a former Donald Trump supporter who said he received death threats when the network aired false conspiracy theories about his involvement in the Jan. 6, 2021, Capitol insurrection. Raymond Epps, a former Marine, was falsely accused by Fox of being a government agent causing trouble near the Capitol that day so that it would be blamed on Trump fans. U.S. District Judge Jennifer L. Hall in Delaware granted, without comment, Fox's motion to dismiss the case.
(Reuters) -ChatGPT-owner OpenAI is allowing its employees to sell roughly $1.5 billion worth of shares in a new tender offer to Japan's SoftBank Group, two sources familiar with the matter told Reuters on Wednesday. SoftBank's billionaire CEO Masayoshi Son has been persistent in seeking a larger stake in the startup after investing in the last funding round, according to CNBC, which first reported the news. The Microsoft-backed artificial intelligence start-up raised $500 million from the Japanese conglomerate, according to a media report, in a $6.6 billion funding round in October at a valuation of $157 billion.
NEW YORK (Reuters) -The dollar fell broadly on Wednesday in thin pre-holiday trade, digesting a slew of indicators that underscored U.S. economic resilience while investors assessed the risk that President-elect Donald Trump will start a tariff war no one will win. Few traders were interested in building or holding positions before a long Thanksgiving weekend for many of them that dovetails with month end. Moreover, revised data showing gross domestic product rose at a 2.8% rate in the third quarter, as expected and the same as last month's first estimate, did not much bolster the case for the Federal Reserve to ease again next month, although traders still leaned that way, lifting odds a bit to 67%.
(Bloomberg) -- Oil steadied and time spreads strengthened as OPEC+ is expected to delay a production restart, a decision that would help stave off a looming supply glut. Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldCrude struggled to find a direction in the last sessio
(Reuters) -Oil prices were little changed on Wednesday, pressured by a large surprise build in U.S. gasoline stocks and worries about U.S. interest rate cuts next year, but prices drew support from concerns about supply eased after a ceasefire deal between Israel and Hezbollah. Crude stocks fell by 1.8 million barrels in the week ended Nov. 22, the EIA added, far exceeding analysts' expectations in a Reuters poll for a draw of 605,000 barrels.
Heavy online marketing spending by Temu and Shein is making it more costly for other retailers and brands to reach shoppers on Black Friday, marketing and industry experts say, with both platforms bidding heavily on search keywords used by competitors. Typing a few words into a search engine is a key starting point for shoppers looking online for gifts or buying for themselves in Black Friday sales, the unofficial start of the holiday shopping season on the day after U.S. Thanksgiving. Retailers compete for their advertised products to appear high up in online search results, by bidding on keywords.
WASHINGTON (Reuters) -U.S. consumer spending increased slightly more than expected in October, suggesting the economy retained much of its solid growth momentum early in the fourth quarter, but progress on lowering inflation appears to have stalled in recent months. The lack of success in bringing inflation back to the Federal Reserve's 2% target, together with the prospect of higher tariffs on imported goods from the incoming Trump administration, could narrow the scope for interest rate cuts from the U.S. central bank next year. The Fed is still widely expected to deliver a third rate cut in December, with other data on Wednesday showing more unemployed people were experiencing long bouts of joblessness in mid-November.
(Bloomberg) -- Global smartphone sales rebounded strongly in 2024 after two successive years of decline, but Apple Inc. barely managed growth, an independent study showed, underscoring the speed with which Android-based rivals are gaining ground in China and emerging markets.Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Italy’s Motor City, Car-Free Options Are GrowingIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldNYC's Und
