Author: Press Room

3/3 © Reuters. FILE PHOTO: Gold ornaments are seen displayed for sale at a Chow Tai Fook jewellery store in Shanghai, China November 27, 2023. REUTERS/Nicoco Chan/File Photo 2/3 By Casey Hall and Amy Lv SHANGHAI/BEIJING (Reuters) – Gold buyers in China are getting younger, as a property market downturn, weakening stocks and currency and low bank deposit interest rates have left them with dwindling options to save for rainy days in a sputtering economy. The trend underscores heightening uncertainty about growth prospects in the world’s second-largest economy, which has not recovered from COVID-19 lockdowns as fast as consumers and…

© Reuters. FILE PHOTO: The New York Stock Exchange (NYSE) in New York City, U.S., February 24, 2022. REUTERS/Caitlin Ochs/File Photo By Noel Randewich and Amruta Khandekar (Reuters) – Wall Street finished mixed on Tuesday after fresh employment data bolstered bets that the U.S. Federal Reserve will cut interest rates as soon as March. Wall Street’s most valuable companies rose as Treasury yields dipped to multi-month lows. Nvidia (NASDAQ:) and Apple (NASDAQ:) rose more than 2%, while Amazon.com (NASDAQ:) and Tesla (NASDAQ:) gained more than 1%. Most sector indexes ended down after data showed U.S. job openings dropped in October…

© Reuters. FILE PHOTO: The logo of PDVSA’s U.S. unit Citgo Petroleum is seen at a gas station in Stowell, Texas, U.S., June 12, 2018. REUTERS/Jonathan Bachman/File Photo By Luc Cohen NEW YORK (Reuters) – A former chief executive officer at U.S. oil refiner Citgo Petroleum helped alleged Venezuelan drug trafficker Carlos Orense move money in the mid-2000s, a witness at Orense’s trial in New York testified this week. Antonio Arvelaiz, who has said on the witness stand he helped Orense traffic cocaine from 2003-2010, said on Monday he was present for conversations in 2003 or 2004 in which Orense…

Hailshadow PTC Therapeutics (NASDAQ:PTCT) said it has submitted a briefing document to support renewal of its conditional approval for Translarna in Europe and plans to meet with the FDA in Q1 2024 to discuss the potential filing of a market application for US approval. The biotech company said it submitted the briefing document to EU regulators as part of a reexamination of a negative opinion on the drug by the Committee for Medicinal Products for Human Use, or CHMP. The reexamination is expected to last until late January, after which CHMP will provide an opinion. The opinion would then be…

© Reuters. FILE PHOTO: Bitcoin coins are seen at a stand during the Bitcoin Conference 2023, in Miami Beach, Florida, U.S., May 19, 2023. REUTERS/Marco Bello/File Photo (Reuters) – rose 5% to $44,083 at 2149 GMT on Tuesday, adding $2,098 to its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is up 66.1% from the year’s low of $26,533 on Oct. 11. Ether, the coin linked to the ethereum blockchain network, rose 1.4% to $2,275.7 on Tuesday, adding $31.9 to its previous close.

Julius W. Becton Jr., a three-star general who was tasked with defending Europe from a Russian invasion during the Cold War as the first Black commander of an Army corps, and later led the Federal Emergency Management Agency and the Washington, D.C., school system, died on Nov. 28 at Fort Belvoir, Va. He was 97.His son, Julius W. Becton III, said the cause of death, in a home for retired military officers, was complications of dementia.General Becton’s uniformed career spanned nearly 40 years, beginning in the era of segregated troops in World War II and including the ascent of Colin…

Gold bars close upgetty Gold is meant to be the go to asset in times of trouble and the cliché of clichés for a rise in gold was “war in the Middle East.” Those days of clear linkage seem to be over and many put this down simply to crypto. Bitcoin BTC is digital gold, or as the joke goes, “gold is Boomer bitcoin.” To me there is no doubt this is the case. Bitcoin has diluted the use case of gold as an asset for dangerous times and this is particularly the case with the idea of flight capital…

Stay informed with free updatesSimply sign up to the Cryptocurrencies myFT Digest — delivered directly to your inbox.The new chief executive of Binance has refused to disclose the location of the cryptocurrency exchange’s global headquarters, maintaining a stance taken by his predecessor before the company pleaded guilty to US criminal charges. Richard Teng replaced Changpeng Zhao as CEO of Binance last month, after Binance entered guilty pleas to charges related to money laundering and international sanctions violations. Zhao resigned after pleading guilty to a charge relating to failure to protect against money laundering. Zhao long insisted that Binance had no…

© Reuters. FILE PHOTO: A man walks in the Central Business District on a rainy day, in Beijing, China, July 12, 2023. REUTERS/Thomas Peter//File Photo By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets. China’s credit downgrade warning from ratings agency Moody’s (NYSE:) on Tuesday may have come as a surprise to some and a shock to few, but has fired up the debate for everyone around the darkening growth and market outlook for Asia’s economic powerhouse. The market fallout was immediate – blue chip stocks in Shanghai and Hong Kong’s benchmark slumped nearly 2%,…

© Reuters. Mastercard hikes dividend by 15.8%, approves new $11 billion share buyback Mastercard (NYSE:) increased its quarterly cash dividend by 15.8% to $0.66 per share, or $2.64 annualized, with an annual yield of 0.6%. The dividend will be payable on February 9, 2024, to stockholders of record on January 9, 2024, with an ex-dividend date of January 8, 2024. Furthermore, the Board of Directors approved a new share repurchase program, authorizing the company to repurchase up to $11 billion of its Class A common stock. This new program will become effective following the completion of the existing $9B share…