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by Kevin Trublet © Agence France-Presse LONDON, United Kingdom (AFP) — Bitcoin, the star of the cryptocurrency world, is widely seen as a freewheeling tool as open as the internet itself. But analysts have cast doubt on the veracity of that perception, highlighting that the bulk of bitcoin is in fact heavily concentrated in the hands of a powerful few. Some 1,000 bitcoin holders — out of a total 11 million — hold some 35.4 […]
TOKYO, Japan (AFP) — Toyota said Wednesday it was investing $1 billion in Asia ride-share company Grab, as the Japanese automaker looks to expand beyond its core business into the “mobility” sector. Grab, which is headquartered in Singapore, is a leading player in the ride-share industry in Asia, and earlier this year agreed to acquire US giant Uber’s regional operations. In a statement, Toyota said the deal “is aimed at achieving connectivity for Grab’s rental […]
NEW YORK, United States (AFP) — Global stocks were mixed Tuesday as markets began looking past an historic US-North Korea summit towards major central bank decisions in the coming days. Markets moved little following the meeting between US President Donald Trump and the North Korean leader Kim Jong Un, with some analysts lauding the positive tone of the event but uncertain of whether it would result in significant change. “The general reaction in the markets […]
by Rob Lever Agence France-Presse WASHINGTON, United States – A US judge Tuesday approved the $85 billion merger of wireless and broadband giant AT&T with media-entertainment conglomerate Time Warner, delivering a stinging rebuke to Donald Trump’s administration in its first major antitrust challenge. Federal Judge Richard Leon said the government had failed to meet its burden of proof that the tie-up between the largest US pay-TV operator and the media entertainment giant would harm competition. […]
BERLIN, Germany (AFP) — World Trade Organization (WTO) chief Roberto Azevedo warned Monday against a damaging “escalation” of trade tensions between the United States and other major economies, following a divisive G7 summit. Trans-Atlantic and other trade wars would have “a long-term impact on the global economy,” he said at a Berlin meeting with German Chancellor Angela Merkel and leaders of the IMF, World Bank and other international institutions. “We must stop this escalation […]
HONG KONG, China (AFP) — Major markets in Asia and Europe rose on Tuesday after Donald Trump and Kim Jong Un held a historic summit, while investors look ahead to key policy meetings at the Federal Reserve and European Central Bank this week. Trump said he had formed a “special bond” with the North Korean leader, who reaffirmed his commitment to “complete denuclearization of Korean Peninsula” in a joint agreement signed by the two. While […]
HONG KONG, China (AFP) — Cryptocurrencies plunged in Asia on Monday after a hack on a South Korean exchange sparked fresh concerns about the safety of the digital units. The attack on Coinrail comes months after Japanese firm Coincheck said it had lost more than $500 million in a January hack. Coinrail did not specify the value of the currency that was taken in the attack at the weekend but said it was working with authorities […]
HONG KONG, China (AFP) — Hong Kong stocks started Monday with small losses following the weekend’s chaotic Group of Seven summit that showed deep divisions between the US and its allies, while dealers are looking ahead to Donald Trump’s meeting with Kim Jong Un. The Hang Seng Index dipped 0.16 percent, or 48.72 points, to 30,909.49. And the benchmark Shanghai Composite Index gave up 0.32 percent, or 9.81 points, to 3,057.34, while the Shenzhen Composite […]
TOKYO, Japan (AFP) — Japan’s economy slid into negative territory for the first time in two years at the beginning of the year, official data showed Friday, confirming preliminary figures issued last month. The world’s third-largest economy contracted by 0.2 percent quarter-on-quarter in the January-March period, unchanged from the preliminary figure, the Cabinet Office said. The new data also revises upwards the figure for the last quarter of 2017, to 0.3 percent from 0.1. The […]
HONG KONG, China (AFP) — Asian markets rose on Wednesday as investors look ahead to a Group of Seven summit, while reports that China-US trade talks were progressing well provided some support. The gains extend a broad rally across the region in recent days as optimism in the US economy, the world’s biggest, has helped temper geopolitical worries. The Nasdaq hit another record in New York even as the lead from US traders was generally […]
Frankfurt am Main, Germany (AFP) — The growing use of electrified vehicles is expected to cost Germany’s crucial car sector some 75,000 jobs by 2030, a study found Tuesday, with smaller auto parts suppliers set to be worst hit. The IG Metall union, which commissioned the study along with BMW, Volkswagen, Daimler and a string of car parts makers, said the pivot towards cleaner engines posed a “major challenge” to Germany’s biggest industry, which […]
by David Harding Agence France Presse DOHA, Qatar (AFP) — On the first anniversary of a bitter Gulf diplomatic rift, Qatar’s foreign minister on Tuesday declared his country stronger than ever and said it was open to dialogue with its regional rivals. Mohammed bin Abdulrahman Al-Thani also rebuked Qatar’s foes for “imaginary victories” against the small Gulf state, the target of a Saudi-led boycott. “One year on and Qatar and its people are stronger,” Al-Thani, […]
