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China's economic recovery loses some steam, investors eye more policy easing

BEIJING, July 15 (Reuters) - China's economy grew slightly more slowly than expected in the second quarter, weighed down by higher raw material costs and new COVID-19 outbreaks, as expectations build that policymakers may have to do more to support ...

Fed's Powell rapped on inflation, regulations in Senate hearing

WASHINGTON, July 15 (Reuters) - U.S. Federal Reserve Chair Jerome Powell faced sharp questions about inflation and banking regulation in a hearing before the Senate Banking Committee on Thursday, issues likely at the forefront of his possible ...

Businesses See Above-Average Price Increases, Worry About Lingering Inflation, Fed Beige Book Says

The Wall Street Journal

The Wall Street Journal

Businesses reported prices increased at an above-average pace as the U.S. economy's recovery further strengthened going into the summer, the Federal Reserve said in a report released Wednesday. The Fed, in its latest Beige Book report that collects ...

Wall Street Has Officially Surrendered to the $500 Billion ETF Rush

Within that surge is a historic capitulation by the mutual fund industry. The Flow Show. U.S. ETFs are on the cusp of breaking 2021's record full-year inflows.

Bank of Korea On Track for Rate Hike as Virus Hit Played Down

Bank of Korea Governor Lee Ju-yeol said the central bank will discuss raising its key interest rate from its next meeting in August after playing down the likelihood that the latest virus surge will dent the economy's recovery.

US weekly jobless claims fall to 16-month low

WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell to a 16-month low last week as the labor market steadily gains traction, but worker shortages are frustrating efforts by businesses to ramp up hiring to meet ...

Lehman Brothers trader to fintech billionaire: Revolut's Nikolay Storonsky

LONDON, July 15 (Reuters) - British-based banking app Revolut's latest $33 billion valuation, achieved after a fresh funding round, has likely made its cofounder and Chief Executive Nik Storonsky a billionaire several times over. Russia-born Storonsky, who ...

China's share of bitcoin mining slumped even before Beijing crackdown, research shows

Economic Times

China has long been the centre of global cryptocurrency mining, an energy-intensive process. Many bitcoin miners in China use fossil fuels including coal, stoking concerns over bitcoin's environmental footprint. The country's share of ...

Democrats' Budget Plan Pushes A Shift To Clean Energy. Here's How It Would Work

NPR

NPR

The $3.5 trillion budget blueprint Democrats agreed to this week includes a key part of President Biden's climate plan: a national "clean energy standard." It's aimed toward zeroing out greenhouse gas emissions from the power sector by 2035. Often called a ...

Hong Kong Arrests Four in Alleged $155 Million Crypto Scheme

Follow @crypto Twitter for the latest news. Hong Kong authorities arrested four men for a suspected money-laundering syndicate involving HK$1.2 billion ($155 million) with virtual currency. Operation "Coin Breaker" was launched on July 8, and the men aged ...