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Global equity funds post biggest weekly outflow in six weeks

Global equity funds post biggest weekly outflow in six weeks

Reuters Global equity funds recorded enormous outflows in the week ended on Nov. 30 as investors booked profits – after a rally in the last month – amid concerns about global economic growth due to China’s strict zero-COVID curbs. According to Refinitiv Lipper data, investors withdrew a net $5.44 billion out of global equity funds, […]

TSX stocks fall on inflation data, oil price decline

TSX stocks fall on inflation data, oil price decline

Reuters Canada’s commodity-inclined stock index fell at open as oil prices declined and data showed Canada’s annual inflation reading remained unchanged. The Toronto Stock Exchange’s blue-chip composite index (.GSPTSE) fell 65.81 points, or 0.33%, to 19,928.97 at open, after closing higher in the previous session.

Australia inflation races to 32-year high, sounds rates alarm

Australia inflation races to 32-year high, sounds rates alarm

Reuters Australian inflation raced to a 32-year high last quarter as the cost of home building and gas surged, a shock result that stoked pressure for a return to more aggressive rate hikes by the country’s central bank. Data from the Australian Bureau of Statistics (ABS) on Wednesday showed the consumer price index (CPI) jumped […]

U.S. banks’ Q3 profits set to shrink on economic risks, deal slump

U.S. banks’ Q3 profits set to shrink on economic risks, deal slump

Reuters The biggest U.S. banks are expected to report weaker third-quarter profits as the economy slowed and volatile markets put the brakes on deal-making. Four of the nation’s largest lenders – JPMorgan Chase & Co (JPM.N), Wells Fargo & Co (WFC.N), Citigroup Inc (C.N) and Morgan Stanley (MS.N) – will report third-quarter earnings on Friday of next week. The results are […]

Energy, inflation crises risk pushing big economies into recession, OECD says

Energy, inflation crises risk pushing big economies into recession, OECD says

Reuters  Global economic growth is slowing more than was forecast a few months ago in the wake of Russia’s invasion of Ukraine, as energy and inflation crises risk snowballing into recessions in major economies, the OECD said on Monday. While global growth this year was still expected at 3.0%, it is now projected to slow […]

What crisis? High-stakes crypto lending looks here to stay

What crisis? High-stakes crypto lending looks here to stay

Reuters On May 11, Scott Odell, an analyst at British crypto lender Blockchain.com, instant messaged Edward Zhao of Three Arrows Capital asking that the Singapore hedge fund repay at least part of a $270 million loan. Three Arrows had just taken a hit from the collapse of cryptocurrency Terra, raising doubts about its ability to […]

U.S. bank regulator warns of crisis risk from fintech proliferation

U.S. bank regulator warns of crisis risk from fintech proliferation

Reuters The rise of fintech services and digital banking could spur financial risks and potentially a crisis over the long term, Michael Hsu, Acting Comptroller of the Currency, a major U.S. bank regulator, warned on Wednesday. “I believe fintechs and big techs are having a large impact and warrant much more of our attention,” Hsu […]

Nigerian fintech TeamApt becomes QED’s first African investment

Nigerian fintech TeamApt becomes QED’s first African investment

Nigeria’s TeamApt, which operates a business payments and banking platform, has secured financing from QED Investors, marking the VC firm’s first investment in Africa. QED makes its first African investment While the total funding is currently undisclosed, TechCrunch reports the figure is more than $50 million. With its solutions, TeamApt aims to digitize Africa’s economy by providing small […]

Cryptoverse: Blockchain bridges fall into troubled waters

Cryptoverse: Blockchain bridges fall into troubled waters

Reuters Another day, another hack – and another blockchain bridge burned. When thieves stole an estimated $190 million from U.S. crypto firm Nomad last week, it was the seventh hack of 2022 to target an increasingly important cog in the crypto machine: Blockchain “bridges” – strings of code that help move crypto coins between different […]

‘Recession is in the air’: German economy stagnates in 2nd quarter

‘Recession is in the air’: German economy stagnates in 2nd quarter

Reuters The German economy stagnated in the second quarter, data showed on Friday, with the war in Ukraine, the pandemic and supply disruptions bringing Europe’s largest economy to the edge of a downturn. Gross domestic product was unchanged quarter on quarter in adjusted terms, the federal statistics office said. A Reuters poll of economists had […]

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