Category: Business
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Yen rises as investors eye Japan policy move; bitcoin soars to new record
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The yen drifted higher against the U.S. dollar for a fourth straight session on Monday, bolstered by an upward revision to Japan’s growth figures and expectations the Bank of Japan could exit negative rates at its policy meeting next week. In cryptocurrencies, bitcoin soared to a fresh record…
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Tesla’s German gigafactory reconnected to grid after week-long outage
By Christoph Steitz FRANKFURT (Reuters) -Tesla’s German gigafactory near Berlin has been reconnected to the electricity grid following a week-long outage caused by arson, the power firm in charge of fixing the disruption said in a statement late on Monday. The outage, which began on March 5 at the site in Gruenheide, was a result…
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Bitcoin hits record above $72,000 as demand frenzy intensifies
By Hannah Lang, Amanda Cooper and Harry Robertson WASHINGTON/LONDON (Reuters) -Bitcoin hit a record high on Monday above $72,000, as the biggest cryptocurrency’s surge showed no signs of slowing down. Bitcoin was last up 4.4% at $72,649 after reaching as high as $72,739. The world’s most valuable cryptocurrency has been boosted by a flood of…
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Stocks dip from record highs with US inflation data on deck
By Chuck Mikolajczak NEW YORK (Reuters) -A gauge of global stocks retreated for a second straight session on Monday, easing further from a record high ahead of U.S. inflation data this week which could heavily influence the Federal Reserve’s interest rate path. Stocks have hit multiple record highs this year, but declined on Friday following…
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Oil prices steady as Middle Eastern supply concerns ease
By Laila Kearney NEW YORK (Reuters) – Oil prices were little changed on Monday as concern eased that fighting in the Middle East would disrupt supply and Chinese data suggested weak demand, while an increase in U.S. refining limited any selling. Brent futures for May delivery settled at $82.21 a barrel, gaining 13 cents. The…
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US leads global oil production for sixth straight year- EIA
(Reuters) – U.S. crude oil production lead global oil production for a sixth straight year, with a record breaking average production of 12.9 million barrels per day (bpd), the Energy Information Administration (EIA) said in a release on Monday. In December, U.S. crude oil production hit a new monthly record high of over 13.3 million…
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Oil dips 1%, posts weekly loss as markets weigh Chinese demand
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices closed 1% lower on Friday and fell even more for the week as markets remained wary of soft Chinese demand even as producer group OPEC+ extended supply cuts. Brent crude futures settled down 88 cents, or 1.1%, at $82.08 a barrel. U.S. West Texas Intermediate crude futures (WTI)…
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Gold marches higher as US jobs data boosts bets of early rate cut
By Anjana Anil (Reuters) – Gold prices surged to another record high on Friday as data showing a rise in the U.S. unemployment rate boosted expectations that the U.S. Federal Reserve could begin cutting interest rates soon. Spot gold rose 0.5% to $2,170.55 per ounce by 2:07 p.m. ET (1907 GMT). U.S. gold futures settled…
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Binance must face revived investor lawsuit in US over crypto losses
By Jonathan Stempel NEW YORK (Reuters) -A federal appeals court on Friday revived a lawsuit where investors accused Binance, the world’s largest cryptocurrency exchange, of violating U.S. securities laws by selling unregistered tokens that lost much of their value. In a 3-0 decision, the 2nd U.S. Circuit Court of Appeals in Manhattan said investors in…
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Apple escalates Epic Games feud by blocking Fortnite app in EU
By Akash Sriram and Stephen Nellis (Reuters) -Apple escalated its feud with Epic Games on Wednesday, blocking the Fortnite video-game maker from launching its own online marketplace on iPhones and iPads in Europe. The two companies have been in a legal battle since 2020, when the gaming firm alleged that Apple’s practice of charging up…