Regulators anxious about stablecoins like tether after UST collapse

Regulators anxious about stablecoins like tether after UST collapse

The entire stablecoin market is now worth more than $ 160 billion. Justin Tallis | AFP via Getty Images Regulators are getting increasingly worried about stablecoins after the collapse of controversial cryptocurrency venture Terra. TerraUSD, an “algorithmic” stablecoin that’s meant to be pegged one-to-one with the US dollar, has erased much of its value this … Read more

Strategist says market may become a ‘meat-grinder of forlorn hope’

Strategist says market may become a ‘meat-grinder of forlorn hope’

LONDON – Investors looking for value in the stock market during the ongoing downturn may be “deluding themselves,” according to Sean Corrigan, director at Cantillon Consulting. Fears that central banks will have to hike interest rates aggressively to curb inflation – at the risk of quashing growth as the global economy suffers concurrent hits from … Read more

5 things to know before the stock market opens Friday, May 13

5 things to know before the stock market opens Friday, May 13

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Dow futures pop after the 30-stock average’s six-session losing streak The Twitter logo and trading information is displayed as a trader works on the floor of the New York Stock Exchange (NYSE) in New York City, US, … Read more

Terra Collapse Teaches About ‘Crypto’ And Bitcoin

Terra Collapse Teaches About ‘Crypto’ And Bitcoin

Terra is crumbling. The blockchain project home to the popular algorithmic stablecoin TerraUSD (UST), which had recently become the fourth-largest stablecoin by market value but now sits at fifth, is near collapse as UST repeatedly fails to sustain its $ 1 peg and LUNA, the blockchain’s native token, nears zero. Terraform Labs, the tech start-up … Read more

China’s consumer prices climb as Covid prompts food stockpiling

China’s consumer prices climb as Covid prompts food stockpiling

Fresh vegetable prices rose by 24% year-on-year in April as consumers stocked up to prepare for potential stay-home orders. Pictured here is a delivery driver for Alibaba’s Hema Fresh supermarket in Beijing on May 10, 2022. Jade Gao | Afp | Getty Images BEIJING – China’s consumer and producer prices rose more than expected in … Read more

April’s consumer price index report expected to show inflation has already peaked

April’s consumer price index report expected to show inflation has already peaked

Shoppers inside a grocery store in San Francisco, California, US, on Monday, May 2, 2022. David Paul Morris | Bloomberg | Getty Images April’s consumer price index report is expected to show inflation has already reached a peak – a development that some investors say could temporarily soothe markets. But economists say, even with a … Read more

5 things to know before the stock market opens Tuesday, May 10

5 things to know before the stock market opens Tuesday, May 10

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Wall Street set to rise after S&P 500 hits lowest level in over a year Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, March 22, 2022. Brendan McDermid | … Read more

US businesses in China cut revenue forecasts, investment plans

US businesses in China cut revenue forecasts, investment plans

Truck drivers, such as the one pictured here in Shanghai in late April, typically need to show valid negative virus tests in order to move goods between cities in China. The American Chamber of Commerce in China said members have reported varying implementation of Covid controls depending on city and province. Vcg | Visual China … Read more

What is terraUSD (UST) and how does it affect bitcoin?

What is terraUSD (UST) and how does it affect bitcoin?

Pedestrians walk past a display of cryptocurrency Bitcoin on February 15, 2022 in Hong Kong, China. Anthony Kwan | Getty Images A multibillion-dollar bet that bitcoin can act as a “reserve currency” for the crypto economy is already being tested as UST, a controversial stablecoin, struggles to maintain its $ 1 peg. UST dropped close … Read more

Uber to cut down on costs, treat hiring as a ‘privilege’: CEO email

Uber to cut down on costs, treat hiring as a ‘privilege’: CEO email

Uber will cut back on spending and focus on becoming a leaner business to address a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email obtained by CNBC. “After earnings, I spent several days meeting investors in New York and Boston,” Khosrowshahi said in the email, which was sent out late … Read more