Changpeng Zhao, the former chief executive of Binance, was sentenced on Tuesday to four months in prison after pleading guilty to violating US money-laundering laws at the world’s largest cryptocurrency exchange. The sentence was imposed by United States District Judge Richard Jones in Seattle, who rejected prosecutors’ request that the 47-year-old Zhao serve a…
The weakness of the Japanese yen is in the spotlight again after its latest tumble in value. On Monday, the currency sank to 160.17 against the US dollar, its lowest since April 1990. The yen recovered to 155.01 per dollar later in the day, prompting speculation that Japanese authorities had…
TikTok owner ByteDance would prefer shutting down its loss-making app rather than sell it if the Chinese company exhausts all legal options to fight legislation to ban the platform from app stores in the United States, Reuters reported citing four sources. The algorithms TikTok relies on for its operations are…
Wednesday’s “disappointing” inflation data in the United States showed a jump from February, dampening expectations of an interest rate cut and raising concerns that inflation could remain stubbornly high. The data has implications not just for the US Federal Reserve, which sets interest rates, but also for the candidates in…
All eyes will be on Friday’s US unemployment numbers to see how many jobs were added in March and whether the unemployment rate continues to stay in its historically low range or if it is time for the alarm bells to start ringing. Job growth in the United States has…
Keerthi Subramanian, a shop clerk in South London, earns 10.42 pounds ($13.15) an hour. From Monday that will go up by 1.02 pounds ($1.29) to 11.44 pounds ($14.44) as a new United Kingdom minimum wage kicks in. That is not much help, she says. “At just over 10 pounds, I…
S&P 500 rises 0.9 percent as major players including Apple and Tesla see gains. The US stock market has hit a record high after a string of downbeat trading sessions. All three leading stock indexes rose on Wednesday, ending a three-day lull. The S&P 500, which tracks the performance of…
In the past few months, the media sector in the United States has gone through one of its worst rounds of layoffs in decades, with some voices within the sector even asking if journalism is a viable career path despite surging subscriptions at publications like The New York Times. Most…
Revenues from Qatar’s LNG fields will provide budget surpluses until the 2030s, Fitch said. Fitch Ratings has upgraded Qatar to AA, its third-highest rating, on the back of revenues expected from its expanded gas fields, the agency has said. Revenues from Qatar’s liquified natural gas (LNG) fields will ensure that…
Nikkei 225 gains as much as 1 percent after last month beating 1989 record. Japan’s benchmark stock market index has smashed the 40,000 mark for the first time, continuing its comeback after decades of stagnation. The Nikkei 225 gained 1 percent to 40,308.85 during morning trading on Monday, as investors…
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