The Canadian Toronto Stock Exchange’s S&P/TSX composite index ended down 2.6% at 19,742.56. A correction is when an index closes 10% below its record closing high. The TSX did that on May 11 and May 12 but then rallied. Canadian financial exchange tumbled once more into remedy an area on Monday and the dollar debilitated … Read more
The legislation aims to improve oversight of ocean shipping. Supporters say it will help curb inflation and ease export backlogs. The bill passed 369-42 and will head to the White House for signature. President Joe Biden says he looks forward to signing it into law. The U.S. House of Representatives gave Monday regulation to further … Read more
SpaceX has raised $1.68 billion through equity financing, the Elon Musk-founded rocket maker said in a regulatory filing. Comes as SpaceX invests heavily in its Starship rocket development and Starlink broadband internet satellite constellation. The fresh financing round was disclosed in securities filings on Monday. SpaceX has raised $1.68 billion through value funding, the Elon … Read more
The White House urges Britain and the European Union to return to talks to resolve differences over the implementation of the Northern Ireland Protocol. The U.S. priority remains to protect the gains of the Belfast Good Friday agreement, a spokeswoman says. “No, I don’t believe it will be,” White House press secretary Karine Jean-Pierre says … Read more
Cloud and enterprise software firm Oracle Corp (ORCL.N) topped Wall Street estimates for quarterly profit and revenue. More businesses are spending on cloud services while transitioning to a hybrid work environment. Shares in the Austin, Texas-based company have declined about 27% so far this year. Cloud and undertaking programming firm Oracle Corp (ORCL.N) bested Wall … Read more
The Federal Aviation Administration (FAA) has approved a final environmental assessment of the proposed SpaceX Starship spacecraft and Super Heavy rocket program in Texas. The FAA published a finding of “No Significant Impact” but is placing some limitations on launches and steps to limit environmental impacts, the agency said. The Federal Aviation Administration (FAA) on … Read more
Alphabet Inc unit Google (GOOGL.O), Facebook (FB), and other tech companies will have to take measures to counter deepfakes and fake accounts on their platforms. European Commission is expected to publish the updated code of practice on disinformation on Thursday. Alphabet set Inc unit Google (GOOGL.O), Facebook Inc, Twitter Inc(TWTR.N) and other tech organizations should … Read more
The gap between U.S. two- and 10-year Treasury yields inverted on Monday for the first time since April, an occurrence that can herald an economic contraction. The dollar hit two-decade highs against a basket of major global currencies. Worldwide stocks and government bonds plunged again on Monday and the dollar hit two-decade highs, as super … Read more
Shareholders can sue Deutsche Bank AG (DBKGn.DE) for allegedly doing business with risky, ultra-rich clients like the offender Jeffrey Epstein and Russian oligarchs. Judge Jed Rakoff in Manhattan said shareholders may try to prove that the German bank was aware its know-your-customer and anti-money laundering controls were ineffective. A U.S. judge on Monday said investors … Read more
The British High Commissioner said that Pakistan was a significant monetary and exchanging accomplice of UK. Pakistan’s products arrived at $2.1billion toward the finish of last financial year. The ambassador was addressing media at the birthday function of Queen Elizabeth-II here on Sunday. UK High Commissioner to Pakistan, Dr Christian Turner said that respective exchange … Read more
Britain still retained the top spot in European rankings – attracting 63 projects in 2021. But the gap with second-placed France narrowed, with its neighbor recording 60 projects. Both nations enticed a higher number of projects than in the previous year. Britain and France bucked the trend for a contraction in Europe overall. Paris made … Read more
He now plans to branch out internationally by building internet-connected consumer devices. But after two years of coronavirus lockdowns, he worries if his business will survive at all. David Fong advanced from an unfortunate town in focal China toward the southern boomtown of Shenzhen as a young fellow in 1997. Throughout the following 25 years, … Read more
The yen fell to a fresh 20-year low against the dollar on Monday, as red hot U.S. inflation data drove up Treasury yields. Central banks’ efforts to raise interest rates will remain in focus this week. The Federal Reserve and the Bank of England are expected to raise rates at their meetings. The yen tumbled … Read more
The campaign aims to stop companies using dual-class share structures that concentrate voting power in the hands of certain shareholders at the expense of others. Launched by British railways pensions scheme Railpen and the non-profit Council of Institutional Investors. Other backers include New York City Comptroller’s Office and Washington State Investment Board. Crusade plans to … Read more
Roughly half of the Forbes 2000 largest global companies have yet to announce plans to reach net zero. Net Zero is the point at which greenhouse gas emissions are negated by deep cuts in output and methods to absorb atmospheric carbon dioxide. Two-thirds of companies haven’t made clear how they plan to achieve that goal. … Read more
Brent crude fell 1.7% and U.S. West Texas Intermediate was down 1.8%. COVID-19 cases in Beijing quelled hopes for a rapid pick-up in China’s fuel demand. Worries about global inflation and economic growth further depressed the market. Oil prices slipped more than $2 on Monday as an eruption in COVID-19 cases in Beijing controlled expects … Read more
Malaysian companies are refusing orders and forgoing billions in sales, hampered by a shortage of more than a million workers. Despite lifting a COVID-19 freeze on recruiting foreign workers in February, Malaysia has not seen a significant return of migrant workers due to slow government approvals. Malaysian organizations from palm oil manors to semiconductor creators … Read more
Credit Suisse has been put on a watchlist of institutions in need of stricter supervision in UK. UK regulators concerned bank had not made enough improvements to its culture, governance, and risk controls. Senior executives were asked to give evidence of steps they would take to prevent instances of misconduct. The bank declined to comment … Read more
