Explainer: What are stablecoins, the asset rocking the cryptocurrency market?

Representations of cryptocurrencies including Bitcoin, Dash, Ethereum, Ripple and Litecoin are seen in this illustration picture taken June 2, 2021. REUTERS/Florence Lo/Illustration Register now for FREE unlimited access to Reuters.com Register LONDON, May 12 (Reuters) – Most cryptocurrencies have a major problem with price volatility, but one sub-category of coins is designed to maintain a … Read more

Crypto meltdown deepens as stablecoin Tether drops below dollar peg

HONG KONG/LONDON, May 12 (Reuters) – The meltdown in TerraUSD, one of the world’s largest stablecoins, sent shockwaves through cryptocurrency markets on Thursday, pushing another stablecoin Tether below its dollar peg and sending bitcoin to 16-month lows. Cryptocurrencies have been swept up in a sell-off across higher risk assets, which has picked up steam this … Read more

Chinese plane aborts takeoff and catches fire, causing minor injuries during evacuation

Rescue workers are seen at the site where a Tibet Airlines Airbus A319 plane caught fire after an aborted takeoff, at Chongqing Jiangbei International Airport in Chongqing, China May 12, 2022. cnsphoto via REUTERS Join now for FREE unlimited access to Reuters.com Register BEIJING, May 12 (Reuters) – China’s Tibet Airlines said all passengers and … Read more

Explainer: Does the cryptocurrency crash pose a threat to the financial system?

Representations of virtual cryptocurrencies are seen in this illustration taken November 28, 2021. REUTERS/Dado Ruvic/Illustration/Files Register now for FREE unlimited access to Reuters.com Register WASHINGTON, May 11 (Reuters) – On Tuesday, bitcoin fell briefly below $30,000 for the first time in 10 months, while cryptocurrencies overall have lost nearly $800 billion in market value in … Read more

Analysis: Aircraft lessors prepare to fight insurers over Russian plane default

Passenger planes of Aeroflot – Russian Airlines are parked at Sheremetyevo International Airport in Moscow, Russia March 12, 2022. REUTERS/Marina Lystseva Join now for FREE unlimited access to Reuters.com Register Major landlord promises ‘vigorous’ pursuit of claims Legal expert says results could be unpredictable Soaring insurance rates ‘are not a pretty sight’ Lessors keep in … Read more

LIC’s $2.7 billion IPO in India was subscribed 67% on day one

Investors bid for 108.7 million shares vs. 162.1 million offered Insured, IPO Employee Portions Oversubscribed Stock market falls as RBI hikes rates MUMBAI, May 4 (Reuters) – The $2.7 billion IPO of Life Insurance Corp (LIC), India’s largest public issue, was 67% subscribed on the first day of the call. offers, even as a surprise … Read more

Launch into space? Not so fast. Insurers balk at new coverage

September 1 (Reuters) – An ever-growing amount of space debris threatens satellites hovering around Earth, making insurers reluctant to offer cover to devices that transmit text, maps, video and scientific data , said industry sources. Thousands of new satellites are being launched into areas where orbital trash has been piling up since the first space … Read more

US and European stocks rise amid mixed earnings; The euro at its lowest since 2017

FILE PHOTO – A stockbroker works at the Frankfurt Stock Exchange as markets react to the coronavirus disease (COVID-19), at the Frankfurt Stock Exchange, Germany March 27, 2020. REUTERS/Kai Pfaffenbach Join now for FREE unlimited access to Reuters.com Register WASHINGTON/LONDON, April 27 (Reuters) – Major U.S. and European stock indexes rose in choppy trading on … Read more

First fully private astronaut team aboard space station undocks for return flight

April 24 (Reuters) – The first fully private team of astronauts to fly aboard the International Space Station (ISS) left the orbiting outpost on Sunday to begin a descent to Earth, capping a science mission from two weeks hailed as a milestone in commercial spaceflight. A SpaceX Crew Dragon capsule carrying Houston-based start-up Axiom Space’s … Read more

Ackman Drops Netflix, Suffering $400M Loss as Stocks Tumble

April 20 (Reuters) – Billionaire investor William Ackman has liquidated a $1.1 billion bet on Netflix (NFLX.O) Wednesday, locking in a loss of more than $400 million as the streaming service’s shares plunged after news it had lost subscribers for the first time in a decade. Ackman’s hedge fund, Pershing Square Capital Management, flip-flopped, selling … Read more