LONDON — The U.K.’s competition regulator announced Thursday it’s starting an investigation into Facebook’s acquisition of popular GIF website Giphy, which is reportedly valued at $400 million. The Competition and Markets Authority said that it plans to launch the first phase of its probe on Friday, adding that it will issue a decision on whether it plans to take it […] Read more
Thinking of investing in a cryptocurrency? Be prepared to lose all your money. That’s the message from the U.K.’s Financial Conduct Authority, which on Monday warned investments and lending products related to crypto come with “very high risks.” “The FCA is aware that some firms are offering investments in cryptoassets, or lending or investments linked […] Read more
Shares of Rossari Biotech edged higher by 11 per cent to Rs 1,019 on the BSE in intraday trade on Tuesday to scale its highest level since listing on the bourses on July 23 this year. The stock of specialty chemicals company zoomed 140 per cent against its issue price of Rs 425 per share. In the […] Read more
Business activity in the euro zone is having a fairly robust December, according to the latest preliminary purchasing manager’s index (PMI) data for the region. The flash euro zone PMI composite output index, which looks at activity in both manufacturing and services sectors, came in at 49.8 in December, up from 45.3 in November. A […] Read more
British grocery stores are stockpiling food amid the possibility of a no-deal scenario as Brexit trade deal negotiations between the EU and U.K. go down to the wire. The supermarkets have reportedly been told by government ministers to hoard non-perishable goods, according to the Sunday Times newspapers, with lawmakers saying a “no-deal Brexit is on […] Read more
Bitcoin has plunged by close to $3,000 in less than 24 hours after hitting highs not seen since the end of 2017. The price of bitcoin was trading at $19,374 at 1:45 p.m. London time Wednesday when it began its slide. The losses accelerated overnight, with the price falling from $18,824 at 2 a.m. Thursday to […] Read more
Chinese state-backed tabloid Global Times claimed on Sunday that the signing of the world’s largest trade deal over the weekend proves that China is not the “expansionist empire” that the U.S. and Western countries have made it out to be. Instead, the mega pact — the Regional Comprehensive Economic Partnership or RCEP — showed that China can […] Read more
U.S.-China trade tensions are set for more predictability after Joe Biden’s presidential win — which likely means calmer rhetoric in a continued tough stance on Beijing. Following years of brewing U.S. complaints about unfair business practices by China’s state-dominated system, President Donald Trump stepped up pressure on Beijing with policy measures that were often abruptly first floated through […] Read more
U.S. stock futures tumbled early Friday after some of the technology heavyweights came under pressure following their quarterly reports. Futures on the Dow Jones Industrial Average pointed to an opening drop of about 300 points. S&P 500 futures and Nasdaq 100 also traded in negative territory. Earlier in the session, Dow futures were down more […] Read more
Homebuyer demand had mortgage lenders incredibly busy over the summer, but that may have peaked. Mortgage applications to purchase a home, which had fallen for four straight weeks, were essentially flat last week, rising just 0.2%, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinances helped to push total mortgage application volume up 1.7% […] Read more
