Business & Economy

May 1, 2024 3:42 PM

Crypto washout sends bitcoin below $58,000 ahead of Fed decision

Bitcoin slid by almost 6 per cent on Wednesday, having posted its worst monthly performance in April since late 2022, as investors pulled money out of cryptocurrencies ahead of an interest rate decision by the Federal Reserve later. The value of the world’s most traded cryptocurrency fell by ne...

May 1, 2024 1:15 PM

Manchester United CEO, CFO to step down at season-end

The iconic English football club Manchester United announced that the current interim club's Chief Executive Officer (CEO), Patrick Stewart, and Cliff Baty, the club's Chief Financial Officer (CFO) will be leaving the club by the end of the season. Jean-Claude Blanc will take over from Patrick as t...

May 1, 2024 11:37 AM

Foreign portfolio investors turn net sellers in Indian stocks in April

Foreign portfolio investors (FPIs) offloaded Indian stocks in April, following two consecutive months of being net buyers. The ongoing geopolitical crisis in the Middle East, coupled with the strength of US bond yields, likely pushed investors to withdraw funds from their portfolios. Foreign portfo...

May 1, 2024 10:29 AM

Stock market shut for Maharashtra Day

Stock exchanges will remain shut Wednesday on account of Maharashtra Day. The next market holiday is on May 20 for General Elections. On Tuesday, the stock indices settled marginally lower, snapping morning supported by strong US markets coupled with improved investor sentiment with the relative e...

April 30, 2024 5:52 PM

Binance’s CEO Zhao faces sentencing over money laundering violations

The former chief executive of Binance, the world's largest cryptocurrency exchange, could face years in prison when he is sentenced on Tuesday after his guilty plea to violating U.S. money-laundering laws. U.S. prosecutors have told District Judge Richard Jones in Seattle that they want Changpeng Z...

April 30, 2024 3:17 PM

TON takes off on Telegram tie-up

A coin called TON has leapt in value in recent months, with investors betting its integration with messenger service Telegram could bring the cryptocurrency to the app's estimated 900 million users. Telegram endorsed TON in September last year, saying the blockchain and associated token woul...

April 30, 2024 1:01 PM

Growth in Asia-Pacific expected to slow in 2024: IMF

Economic growth in the Asia Pacific region is better than previously projected but is expected to slow from 5 per cent in 2023 to 4.5 per cent in 2024, according to IMF's Regional Economic Outlook for Asia and Pacific. In the Outlook report, the International Monetary Fund said the region remains i...