TerraUSD backer says will compensate some users; bitcoin back below $30,000

Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register ECB officials warn of risks from cryptocurrencies Luna Foundation Guard says spent bulk of assets last week trying to prop up TerraUSD LFG … Read more

Germany’s conservatives are on track to win key state vote

Conservatives win 35% of vote – exit poll SPD at 27.5% of the vote – exit poll The Greens will become kingmakers for the SPD or the CDU Spotlight on job security and coal transition BERLIN, May 15 (Reuters) – Germany’s conservative CDU party was on course to win regional elections in North Rhine-Westphalia on … Read more

China’s economy skids as shutdowns hit factories and retailers

April industrial production unexpectedly falls year-on-year April retail sales fall faster than expected National unemployment rate at highest since February 2020 Fixed asset investment growth slower than f’cast BEIJING, May 16 (Reuters) – Retail and factory activity in China fell sharply in April as sweeping COVID-19 lockdown measures confined workers and consumers to their homes … Read more

Price protests turn political in Iran as rallies spread

DUBAI, May 15 (Reuters) – Spreading protests across Iran over cuts in state food subsidies have turned political with slogans calling on top leaders to quit, according to social media posts , and unconfirmed reports indicate that at least four protesters were killed. . Protests began in some cities last week, sparked by the government’s … Read more

Shanghai aims to reopen more businesses shuttered by COVID, Beijing fights back

Shopping malls and stores in Shanghai will gradually resume in-store operations Some districts in Beijing extend work-from-home guidance Shanghai lockdown frustrates and infuriates residents The brakes have rattled global supply chains SHANGHAI/BEIJING, May 15 (Reuters) – Shanghai will gradually start reopening businesses such as shopping malls and hair salons in China’s financial and manufacturing hub … Read more

Children later than earlier. South Korean women freeze eggs as child-rearing costs rise

SEOUL, May 13 (Reuters) – In South Korea, fewer women are having children and those who do are in no rush. The exorbitant costs of housing and education make financial security essential. Social mores also dictate the need to marry. Lim Eun-young, a 34-year-old civil servant, says she is not ready to start a family … 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

At the mercy of zealous residential committees, the frustration of Shanghai’s locked vents

SHANGHAI, May 12 (Reuters) – Elizabeth Liu and her husband were elated last week to leave their residential complex in Shanghai for the first time in more than a month. All but one of the buildings in the compound had just been reclassified as low risk after 14 days with no COVID cases. “My husband … Read more

Dollar hovers near 2-decade high as CPI keeps aggressive US rate hikes likely

A man counts US dollar banknotes at an exchange shop in Beirut, Lebanon March 18, 2022. REUTERS/Mohamed Azakir/Files Register now for FREE unlimited access to Reuters.com Register TOKYO, May 12 (Reuters) – The US dollar held near a two-decade high on Wednesday after US inflation moderated less than markets had expected, keeping the Federal Reserve … Read more

‘Go home!’ Shanghai and Beijing, hit by COVID, ask residents to avoid social contact

Shanghai tightens restrictions on residents Beijing closes more compounds, roads and parks Both cities are grappling with the worst outbreaks since the outbreak began SHANGHAI/BEIJING, May 9 (Reuters) – China’s two biggest cities tightened COVID-19 restrictions on their residents on Monday, sparking further frustration and even questions about the legality of its uncompromising fight against … Read more