BEIJING (Reuters) - Cryptocurrency exchange Huobi said on Monday that it will suspend services for new users in Mainland China. The platform will be more focused on expanding overseas business, it said in a statement sent to Reuters. ...
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By Nick Carey and Lisa Baertlein LONDON (Reuters) - If suppliers in China fail to pick up freight containers to fill an order for MediaShop, Marcel Schneider gets an alert via a digital freight system, allowing the retailer to reach out and fix the problem swiftly. Before July 2020, Austria-based MediaShop's deputy supply chain director says he would discover problems in his supply chain only when containers failed to arrive in Hamburg as scheduled. "It was like being in a tunnel where you had only a limited view of what was going on,"...
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By Hideyuki Sano TOKYO (Reuters) - The dollar stood near its lowest level in three months against a resurgent euro, and traders pared earlier bets the Federal Reserve may move soon to taper its stimulus though markets were not fully convinced that higher U.S. inflation is transient. The dollar index, measuring the greenback against a basket of six currencies, was hovering at 90.045, a tad above a three-month low of 89.646 set on Friday. Minutes from the Fed's April policy meeting released last week showed a sizable minority of policymakers wanted to discuss tapering bond purchase...
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By Gina Lee Investing.com – Asia Pacific stocks were mixed Monday morning following the cryptocurrency market volatility and as concerns about the slowdown of stimulus measures continued. Japan’s Nikkei 225 was up 0.37% by 11:21 PM ET (3:21 AM GMT), with Bank of Japan governor Haruhiko Kuroda due to speak later in the day. South Korea’s KOSPI fell 0.24%, as investors await the Bank of Korea handing down its interest rate decision for May on Thursday. In Australia, the ASX 200 inched up 0.10%. Hong Kong’s Hang Seng Index was down 0.33%. China’s Shanghai Composite edged...
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DETROIT (Reuters) - General Motors Co (NYSE:GM) strengthened relations with its suppliers last year despite the impact of the COVID-19 pandemic and the global semiconductor chip shortage, according to an annual North American survey released on Monday. The No. 1 U.S. automaker improved its score in consulting firm Plante Moran's annual Working Relations Index by 20 points to 289, moving it closer to annual leaders Toyota Motor Corp (347 points) and Honda Motor Co (316 points), both of which saw their scores go up slightly. (https:// The annual survey measures trust and communication suppliers have...
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SHANGHAI (Reuters) -Cryptocurrency mining operators, including a Huobi Mall and BTC.TOP, are suspending their China operations after Beijing stepped up its efforts to crack down on bitcoin mining and trading, sending the digital currency tumbling. A State Council committee led by Vice Premier Liu He announced the crackdown late on Friday - the first time the council has targeted virtual currency mining, a big business in China that accounts for as much as 70% of the world's crypto supply. Crypto miners use increasingly powerful, specially-designed computer equipment, or rigs, to verify virtual coin transactions in a...
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By Wayne Cole SYDNEY (Reuters) - Asian shares got off to a cautious start on Monday as investors anxiously awaited a key read on U.S. inflation this week for guidance on monetary policy, while Bitcoin took a hammering after China cracked down on mining and trading of the cryptocurrency. MSCI's broadest index of Asia-Pacific shares outside Japan was barely changed in slow trade. Japan's Nikkei added 0.1% and South Korea was flat. Nasdaq futures were off 0.2% and S&P 500 futures were a fraction firmer. After surveys of the global service sectors out on Friday...
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By Hideyuki Sano TOKYO (Reuters) - The dollar stood near its lowest level in three months against a resurgent euro, struggling for traction as investors pared earlier bets the U.S. Federal Reserve may soon be ready to taper its stimulus. The dollar index, measuring the greenback against a basket of six currencies, was hovering at 90.027, a tad above a three-month low of 89.646 set on Friday. Minutes from the Fed's April policy meeting released last week showed a sizable minority of policymakers wanted to discuss tapering bond purchase. Still, Fed Chairman Jerome Powell's repeated warnings...
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TOKYO (Reuters) - In a series of tweets, SoftBank Group Corp's founder and CEO Masayoshi Son expressed bewilderment and concern about the Tokyo Olympics going ahead amid Japan's slow-going vaccination drive during the COVID-19 pandemic. "Currently more than 80% of people want the Olympics to be postponed or cancelled. Who and on what authority is it being forced through?" the billionaire executive wrote in a Twitter post in Japanese. In a follow-up tweet late on Sunday, he wrote: "Does the IOC (International Olympic Committee) have the power to decide that the Games would go ahead? "There's...
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LONDON (Reuters) - Britain's main opposition Labour Party said it will push for a vote in parliament on Monday over support for U.S. plans to introduce a global minimum corporation tax rate. The U.S. Treasury Department earlier this week said it would accept a floor of at least 15% during international negotiations, a rate significantly below its proposed 21% minimum for U.S. multinational firms. The Biden administration's proposed Global Intangible Low-Taxed Income tax (GILTI) rate of 21%, aimed at capturing revenue shifted by companies to tax-haven countries, was widely viewed as a starting point for...
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