WORLD MARKET NEWS - Page 8

A Dollar General in New Orleans, Sept. 21, 2021. The dollar store business model is being tested by worker burnout, pressure to raise wages, supply chain problems and growing local opposition. (The New York Times)

‘Everything going the wrong way’: Dollar stores hit a pandemic downturnSubscriber Only

October 1, 2021 13:07 IST

Sales are slowing and some measures of profit are shrinking as the industry struggles with a confluence of challenges. They include burned-out workers, pressure to increase wages, supply chain problems and a growing number of cities and towns that are rejecting new dollar stores because, they say, the business model harms their communities.

A pedestrian passes the seal of the Office of the Comptroller of the Currency (OCC) displayed outside the organization's headquarters in Washington, D.C., U.S., on Wednesday, March 20, 2019. (Bloomberg)

Crypto’s road gets harder with Biden pick for bank watchdogSubscriber Only

September 29, 2021 18:00 IST

The White House nominated Saule Omarova last week to lead the Office of the Comptroller of the Currency, all but confirming that US financial regulators will be void of any crypto allies for at least the next three years.

A trader works on the floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, US, September 24, 2021. (REUTERS)

Asian shares stumble as US yields, dollar hold firm

September 29, 2021 10:48 IST

Overnight, all three major US stock indexes slid nearly 2% or more, with interest rate sensitive tech and tech-adjacent stocks worst hit by the surging yields.

Futures drop with cryptocurrencies amid crackdown: Markets wrapSubscriber Only

September 24, 2021 17:06 IST

Bitcoin fell about 4.5%. The dollar and gold rose, while oil was little changed.

China says all crypto-related transactions are illegalSubscriber Only

September 24, 2021 16:42 IST

All cryptocurrencies, including Bitcoin and Tether, are not fiat currency and cannot be circulated on the market, the People’s Bank of China said on its website.

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Freshworks valued at over $12 billion as shares jump in US debut

September 23, 2021 17:35 IST

Founded in the Indian city of Chennai, Freshworks has a suite of products that helps businesses with customer management, such as a messaging platform and an artificial-intelligence powered chatbot for customer support.

The Federal Reserve Board building on Constitution Avenue is pictured in Washington, US, March 27, 2019. (REUTERS/File Photo)

US Fed signals bond-buying taper coming ‘soon,’ rate hike in 2022

September 23, 2021 10:37 IST

While no decisions have been made on the exact pace and timing of how the central bank will reduce its asset purchases, Fed Chair Jerome Powell said it seems "appropriate" that the taper could begin "soon" and be completed by the middle of 2022.

Evergrande crisis shows cracks in China’s property marketSubscriber Only

September 22, 2021 15:19 IST

Evergrande Group was once China’s most prolific developer, its cranes dotting China’s skylines. But now it is buckling under the weight of more than $300 billion in debt.

A self-storage building in New York, Sept. 11, 2021. Occupancy rates and rents for self-storage are at record highs, drawing investors and entrepreneurs looking for growth opportunities. (The New York Times)

A pandemic space race: Self-storage roars backSubscriber Only

September 22, 2021 14:34 IST

More than 30,000 owners operate roughly 55,000 self-storage facilities nationwide, according to statistics from the Self Storage Association, a trade group.

The Federal Reserve building is pictured in Washington, DC, US, August 22, 2018. (REUTERS/File Photo)

Five things to watch at Federal Reserve policy meeting

September 22, 2021 10:26 IST

Here are five things to look for from the meeting, which wraps up on Wednesday

China Evergrande shares dive to 11-year low as default risks grow

September 20, 2021 15:32 IST

Evergrande has been scrambling to raise funds to pay its many lenders, suppliers and investors, with regulators warning that its $305 billion of liabilities could spark broader risks to the country's financial system if not stabilised.

Representations of cryptocurrency Bitcoin are seen in this picture illustration taken June 7, 2021 | Reuters

Bitcoin crashes 17% as El Salvador adoption price pump faltersSubscriber Only

September 7, 2021 22:14 IST

The retreat Tuesday comes as Bitcoin faces one of its biggest test in its 12-year history as El Salvador became the first country to adopt it as legal tender Tuesday.

'Operation Chillax': Companies are trying to combat burnout from working remotely by offering more time off and other perks. (The New York Times)

We’ll give you a week off. Please don’t quit.Subscriber Only

September 6, 2021 18:09 IST

Faced with an employee exodus, some ad agencies are now offering a breather.

A container ship at port in Miami Beach, Fla., Aug. 25, 2021. Shipping is at the center of what has gone awry in the global economy. (The New York Times)

The world is still short of everything. Get used to it.Subscriber Only

August 31, 2021 15:24 IST

Delays, product shortages and rising costs continue to bedevil businesses large and small. And consumers are confronted with an experience once rare in modern times: no stock available, and no idea when it will come in.

Chinese couple get back at Airbnb host in South Korea

Airbnb warns of Delta impact on bookings, shares fall over 4%

August 13, 2021 10:08 IST

The hugely popular global app, which has fought back strongly since being hit hard early in the pandemic last year, posted a more than four-fold rise in bookings to $13.4 billion in the second quarter.

Sun Dawu, a rural tycoon and outspoken critic of the Chinese Communist Party, at his pig feed warehouse in Bao Ding, China, on April 16, 2019. Sun was sentenced to 18 years in prison Wednesday, July 28, 2021, the latest in a string of harsh punishments meted out by China against business leaders. (The New York Times)

As China reins in private sector, another businessman gets 18 yearsSubscriber Only

July 29, 2021 14:42 IST

The 67-year-old Sun had been detained in November after a land dispute between his company, Dawu Agricultural and Animal Husbandry Group, and a neighboring state-owned farm. Prosecuted in a trial closed to the public alongside 19 family members and employees, Sun was convicted of a range of crimes, including organizing people to attack state agencies, obstructing public affairs and provoking quarrels.

Bitcoin, Bitcoin value, Bitcoin net worth, Bitcoin news

Bitcoin rises above $40,000

July 28, 2021 09:30 IST

Bitcoin was last up 1.7% at $40,149 while rival cryptocurrency ether rose 1% to $2,328.

Latest data from the US Treasury Department showed that India, with holding worth $220.2 billion at the end of June this year, is the 11th largest holder of these securities while Japan has the most exposure at little over $1.277 trillion. (File)

Rookie bankers sour on Wall Street’s pitch of Big Pay and Long HoursSubscriber Only

July 26, 2021 15:49 IST

For decades, investment banking — the job of advising big companies on their most pressing needs — was one of Wall Street’s most prestigious careers, glorified in 1980s bestsellers by writers like Tom Wolfe and Michael Lewis.

Bitcoin surges amid short covering, speculation over Amazon planSubscriber Only

July 26, 2021 13:57 IST

The largest crypto rose as much as 15% to $39,681 before paring some of the climb to trade at about $38,600 as of 7 am in London. Other virtual coins also rallied, including second-ranked Ether.

Kia Roberts, an entrepreneur, works from Corner Grind Coffee Kitchen, a coffee shop in New York owned by her husband, July 12, 2021. As the office world adjusts to a new normal and workers grow tired of their homes, WeWork and its competitors reap the benefits. (The New York Times)

Co-working spaces are back, and options aboundSubscriber Only

July 19, 2021 14:38 IST

Corporations like IBM and Palantir, many of which are reducing office space, are starting to partner with WeWork and other coworking entities.

Slide in coronavirus-sensitive stocks suggests growing worries over Delta variant

July 9, 2021 12:07 IST

The Russell 1000 value index, which includes economically sensitive stocks, has fallen by 0.9% in the same time frame, while the S&P 500 has risen 0.5% in July.

An undated photo provided by David Lee of Spike Lee on the set of his commercial for Coin Cloud, a company that makes kiosks to buy and sell cryptocurrencies. The filmmaker’s commercial for a crypto company is one of many recent marketing efforts to make digital cash palatable for newbies. (David Lee via The New York Times)

Cryptocurrency seeks the spotlight, with Spike Lee’s helpSubscriber Only

July 8, 2021 18:31 IST

The commercial, which he shot last month, is one of several recent marketing efforts meant to broaden the audience for a form of currency that can intimidate people accustomed to cash and credit cards.

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OPEC+ talks abandoned without a deal, sending oil prices higherSubscriber Only

July 5, 2021 21:33 IST

Crude prices jumped 0.8% to $76.77 a barrel as of 4:25 p.m. in London.

Krispy Kreme, Krispy Kreme IPO, Krispy Kreme news

Krispy Kreme and Didi Chuxing part of blockbuster week for public listingsSubscriber Only

July 2, 2021 13:41 IST

The debuts are the latest example of companies racing to the public market to take advantage of sky-high valuations as investor exuberance pushes the stock market to new heights.

In this April 27, 2017, file photo, visitors walk past a sign for Chinese ride-hailing service Didi Chuxing at the Global Mobile Internet Conference (GMIC) in Beijing. Chinese ride-hailing service Didi says it lost $5.5 billion over the past three years ahead of its US stock market debut Wednesday, June 30, 2021, but it's highlighting its global reach and investments in developing electric and self-driving cars. (AP Photo)

China’s Didi touts tech spending ahead of Wall Street debut

June 30, 2021 14:37 IST

Didi Global Inc planned to raise up to $4 billion by selling 288 million shares on the New York Stock Exchange at $13-$14 each. It said 30% will be spent on technology development, another 30% to expand outside China and 20% on new products.