Business News from WN Network

Intel gets $7.86 billion chips manufacturing subsidy from the US government 2024-11-26
Hindustan Times

The U.S. Commerce Department said Tuesday it was finalizing a $7.86 billion government subsidy for Intel, down from $8.5 billion announced in March after the California-based chips maker won a separate $3 billion award from the Pentagon. A smartphone with a displayed Intel logo is placed on a...

photo: AP / Gene J. Puskar, File

Hong Kong is becoming a hub for financial crime, US lawmakers say 2024-11-26
CNN

Hong Kong has become a center for money laundering and sanctions evasion under the tightening grip of Beijing, US lawmakers have warned, calling for a re-evaluation of America’s close business relationship with the Asian financial hub. In a letter to US Treasury Secretary Janet Yellen Monday,...

photo: Creative Commons

Oil inches higher as traders eye possible Middle East ceasefire 2024-11-26
Business Day

Houston/Singapore — Oil prices ticked up in early trade on Tuesday after falling in the previous session as investors took stock of a potential ceasefire between Israel and Hezbollah, weighing on oil’s risk premium. Brent crude futures rose 29c, or 0.4%, to $73.2 a barrel by 4.30am GMT, while US...

photo: Creative Commons

Gold steady after Donald Trump’s tariff vow 2024-11-26
Business Day

Bengaluru — Gold prices held steady on Tuesday after a 3% drop in the previous session, supported by increased safe-haven demand after president-elect Donald Trump’s pledge to impose tariffs on all imports from Canada, Mexico and China. Spot gold was steady at $2,625.48/oz by 2.59am GMT, after...

photo: Creative Commons / Marco Verch

Metaverse tokens SAND and MANA signal recoveries as NFT sales volume jumps 40% 2024-11-25
Invezz

The non-fungible tokens (NFTs) sector has seen prolonged underperformance as trends such as meme coins, RWA, and AI dominate the cryptocurrency marketplace. However, the emerging bull run, where Bitcoin stares at the $100,000 milestone, has invigorated each sector. CryptoSlam data shows NFTs...

photo: Sandbox

Possible Europe-US trade war could push euro into parity with the dollar 2024-11-25
The Observer

The euro risks falling to parity with the US dollar for the first time since late 2022 if a new transatlantic trade war weakens the already struggling eurozone economy, analysts have warned. The euro sank below $1.04 against the dollar, the weakest level since November 2022, last Friday after a...

photo: AP / Joerg Koch

Profit-taking pulls gold away from three-week high 2024-11-25
Business Day

Bengaluru — Gold prices eased on Monday from a three-week high hit earlier in the session as investors booked profits and traders adjusted their expectations for Federal Reserve rate cuts, awaiting further data to assess the interest rate outlook. Spot gold fell 0.6% to $2,695.79/oz by 2.46am GMT....

photo: Public Domain / hamiltonleen

Adani bonds slide to almost 1-year low as investors weigh bribery allegations 2024-11-25
Khaleejtimes

Adani dollar bond prices fell to almost one-year lows on Monday as investors cut their exposure to the Indian conglomerate in the wake of bribery and fraud allegations from US authorities. The group's billionaire chairman, Gautam Adani, and seven other people were last week charged with agreeing to...

photo: AP / Ajit Solanki

Britain forked out $91 million for King Charles’ coronation in the middle of a cost-of-living crisis 2024-11-22
CNN

The coronation of King Charles III and Queen Camilla held in May last year cost British taxpayers £72 million ($91 million), an amount some have labeled excessive. The Department for Culture, Media and Sport said in its annual accounts released Thursday that it had spent just over £50 million ($63...

photo: Henry Nicholls/POOL via AP

Adani Group shares fall for a second day after US issues arrest warrant for Indian billionaire 2024-11-22
Khaleejtimes

Stocks and bonds of India's Adani Group dropped for a second session on Friday after a US arrest warrant was issued for its billionaire founder Gautam Adani over an alleged $265-million bribery scheme. Adani Green Energy, the company at the centre of the case, was down eight per cent in early Friday...

photo: AP / Ajit Solanki, File