Business

Celsius co-founder and strategy head Leon resigns from bankrupt crypto lender

Celsius Network’s co-founder and chief strategy officer Daniel Leon has stepped down, the bankrupt crypto lender said on Tuesday, joining a wave of executive departures from beleaguered digital asset companies. The announcement comes a week after chief executive officer Alex Mashinsky’s resignation. Leon’s departure was first reported by CNBC. Hoboken, New Jersey-based Celsius filed for […]

Business

Micron to invest up to $100 bln in semiconductor factory in New York

Chipmaker Micron Technology (MU.O) said on Tuesday that it planned to invest up to $100 billion over the next 20-plus years to build a computer chip factory complex in upstate New York, in a bid to boost domestic chip manufacturing. The project, which Micron claims will be the world’s largest semiconductor fabrication facility, is expected […]

Business

Bear trap?

A look at the day ahead in Asian markets from Jamie McGeever Genuine turning point, or classic bear market rally? World markets continue to rip higher as the dollar, bond yields and Fed interest rate expectations decline, confounding even the biggest optimists who had called for a positive start to the fourth quarter. The strength […]

Business

Dollar slides as U.S. yields ease; euro, sterling jump

The dollar slid against most major currencies on Tuesday as the yield on the benchmark U.S. 10-year Treasury fell after Australia’s central bank surprised investors with a smaller-than-expected interest rate hike, with the euro climbing more than 1%. The Australian dollar was down 0.2% at $0.6503, dragged down after the move by the Reserve Bank […]

Business

Mexico to extend talks with U.S. over energy, hails ‘productive’ dialogue

Talks between the United States and Mexico to resolve a dispute over energy policy will extend beyond an initial consultation period as the two sides narrow differences, officials said on Monday. The U.S. Trade Representative (USTR) in July demanded dispute settlement talks on the grounds that Mexican President Andres Manuel Lopez Obrador’s energy policies discriminated […]

Business

Fed knows how to fight inflation, will seek to do so ‘gently,’ San Francisco Fed President Daly says

San Francisco Federal Reserve Bank President Mary Daly on Tuesday said the U.S. central bank has the tools and the knowledge to bring down high inflation, and will use them, even as it tries to find the “gentlest” way to do so. There is “a lot” of room for the Fed to use higher interest […]

Business

HSBC taps JP Morgan for potential Canada exit

HSBC is working with JPMorgan Chase & Co as the UK lender reviews its Canada business for a potential sale, a source familiar with the matter said. Earlier, HSBC said it is considering selling its business in Canada, worth billions of dollars, as it looks to beef up returns as demanded by its largest shareholder. […]