Business News from WN Network

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

Oil gains more ground amid anxiety over escalating Ukraine war 2024-11-22
Business Day

Singapore — Oil prices extended gains on Friday, heading for a weekly uptick of more than 4%, as the Ukraine war intensified with Russian President Vladimir Putin warning of a global conflict. Brent crude futures gained 10c, or 0.1%, to $74.33 a barrel by 4.48am GMT. US West Texas Intermediate crude...

photo: Creative Commons / Dmitrijs Purgalvis

Gold set for best week in a year 2024-11-22
Business Day

Bengaluru — Gold prices were headed for their best week in a year on Friday, supported by safe-haven demand amid further escalation in the Russia-Ukraine war, while investors assessed the outlook for US interest rate cuts. Spot gold rose 0.7% to $2,688.70/oz by 3.06am GMT. Bullion was up nearly 5%...

photo: Public Domain / Hamiltonleen

Tesla’s path in China clears as Musk courts both Trump and Xi 2024-11-22
AOL

If it pays to have friends in high places, few among us can claim to be better placed than Elon Musk, the world’s richest man and one of the only people to have cosy relationships with both Donald Trump and Xi Jinping. His commercial and political connections to both may prove pivotal as the feud...

photo: AP / Ng Han Guan

Federal Reserve’s likely slowdown in rate cuts could disappoint borrowers 2024-11-21
Santa Cruz Sentinel

By CHRISTOPHER RUGABER, Associated Press Economics Writer WASHINGTON (AP) — Just a few weeks ago, the path ahead for the Federal Reserve looked straightforward: With inflation cooling and the job market slowing, the Fed appeared on track to steadily cut interest rates. In September, its officials...

photo: Public Domain