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

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

Shipping insurance costs across the Black Sea are skyrocketing

LONDON, Feb 25 (Reuters) – Insurers have raised the cost of cover for merchant ships crossing the Black Sea, adding to soaring freight rates in the region for vessels still ready to sail after the invasion of Ukraine by Russia. Shipowners pay war risk insurance annually as well as an additional “infraction” premium when entering … 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

Explanation: Can companies leaving Russia recover their losses through insurance?

March 23 (Reuters) – Hundreds of companies said they were pulling out or suspending operations in Russia after it invaded Ukraine, by energy producer Shell Plc (SHELL) to car manufacturer Hyundai Motor Co (005380.KS) to PwC, a global professional services firm. Here’s a look at how insurance and international arbitration could soften the blow to … 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

China signals easing tech pressure in bid to revive economy

People wearing face masks walk past a street amid snowfall, following the outbreak of the coronavirus disease (COVID-19), at a shopping area in Beijing, China March 17, 2022. REUTERS/Tingshu Wang Join now for FREE unlimited access to Reuters.com Register BEIJING/HONG KONG, April 29 (Reuters) – China on Friday signaled an easing of its crackdown on … Read more