Author: Press Room
© REUTERS South Africans may see a decrease in fuel prices starting December 6, 2023, as the Automobile Association (AA) and the Central Energy Fund (CEF) have reported expected reductions due to a combination of eased international product prices and a stronger Rand against the US Dollar. This anticipated relief comes just in time for the end-of-year holiday season, potentially easing consumer struggles and making travel more affordable. The AA announced today that motorists can expect the price of ULP 95 inland to drop to approximately R22.17 per liter, with coastal prices even lower at R22.05 per liter, marking the…
ismagilov/iStock via Getty Images Wide adoption of central bank digital currencies would be difficult right now as consumers are “comfortable using today’s type of money,” Ashok Venkateswaran, Mastercard’s (NYSE:MA) Blockchain and Digital Assets Lead for Asia Pacific, told CNBC. “The difficult part is adoption,” he said. “So if you have CBDCs in your wallet, you should have the ability to spend it anywhere you want – very similar to cash today.” Only 11 countries have so far adopted CBDCs, according to the Atlantic Council’s data, while 21 are in the pilot testing stage. Mastercard (MA) has been helping certain central…
The Supreme Court refused on Thursday to revive a Florida law that banned children from “adult live performances” such as drag shows.The court’s brief order gave no reasons, which is typical when the justices act on emergency applications, and a First Amendment challenge to the law will continue in the lower courts.Justices Clarence Thomas, Samuel A. Alito Jr. and Neil M. Gorsuch dissented. Justice Brett M. Kavanaugh, joined by Justice Amy Coney Barrett, issued a statement stressing that the court’s order was addressed to an issue unrelated to the constitutionality of the law.The order, he wrote, “indicates nothing about our…
Retail companies have reported billions of dollars in losses from theft by citing shrink numbers.But shrink isn’t just theft. It’s a bit more complicated.Retailers may be pointing to theft to prompt government action or distract from operational issues. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app If you listen to major retailers talk about theft, one word comes up again and again: shrink.Retailers include losses due to theft as a part of “shrink,” an industry term for the difference between the inventory a store…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Look, sorry, Alphaville will never ever get tired of writing about Treasury market structure. If this isn’t your cup of tea then check out Trevor Milton’s 10/10 plea for leniency or the latest twist in the Amigo saga. If you’re still here, the topic du jour is the Treasury basis trade, and whether it is the single most dangerous hedge fund strategy in history or a vital cog in ensuring the vibrancy of the global financial system. Citadel’s Ken Griffin is obviously…
© Reuters. FILE PHOTO: Shoppers crowd a Walmart store ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 27, 2019. REUTERS/Kamil Krzaczynski/File Photo (Reuters) – U.S. retailers are gearing up for Black Friday, marking the start of the shopping season that follows the Thanksgiving holiday, while business activity data should gauge the temperature elsewhere. Britain’s budget update is in the spotlight, while the yen might get some breathing space and Argentina heads for a key election. Here’s your week ahead in world markets from Lewis Krauskopf in New York, Kevin Buckland in Tokyo, and Naomi Rovnick, Dhara Ranasinghe and…
© Reuters. HONG KONG (Reuters) – Hong Kong-listed shares of China’s Alibaba (NYSE:) Group plunged 10% on Friday, wiping about $20 billion off its market value, after the company scrapped plans to spin off its cloud business. Alibaba said its decision to shelve the spin-off was due to uncertainties fuelled by U.S. curbs on exports to China of chips used in artificial intelligence applications. Once Asia’s most valuable stock worth around $830 billion in October 2020, the Hong Kong-listed shares fell more than 10% to a one-year low. Following are what people are saying about the decision: LI CHENGDONG, BEIJING-BASED…
Warning: CLLNY is at high risk of cutting its dividend
Capitol Hill is breathing a sigh of relief as lawmakers jet back to their home states for the Thanksgiving holiday after a grueling 10 weeks full of late-night votes and, toward the end, increasingly testy exchanges. It’s tested the mettle of newly minted Speaker Mike Johnson, R-La., whose leadership victory temporarily appeared to unite what’s been a highly divided House GOP Conference this year.But months-old fractures, particularly over government spending, have continued to widen three weeks into Johnson’s speakership – despite scoring some key victories so early in his tenure.WHEN IT COMES TO THE NEXT SHUTDOWN FIGHT IN CONGRESS, SILENCE IS…
Trevor Milton’s lawyers say he should avoid prison because his fraud conviction is not like that of Elizabeth Holmes. Holmes was convicted on charges that she defrauded investors in blood-testing company Theranos. Milton was convicted on charges that he duped investors with exaggerated claims about zero-emission Nikola trucks. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Lawyers for the founder of truckmaker Nikola Corp. say he should not face incarceration because his fraud conviction is nothing like the fraud that landed Theranos founder Elizabeth Holmes…