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Britain’s finance ministry sets out draft rules to regulate cryptoassets

By Huw Jones and Elizabeth Howcroft LONDON (Reuters) – Britain’s finance ministry laid out its first set of rules to regulate cryptoassets on Wednesday, saying ongoing turbulence in the sector and the collapse of exchange FTX highlighted risks that need addressing. Cryptoassets, such as bitcoin, have little direct regulation globally, but regulators are taking a …

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Stocks slide, dollar firm as further monetary tightening seen

By Herbert Lash and Amanda Cooper NEW YORK/LONDON (Reuters) -Global equity markets fell and the dollar firmed on Monday after data showing a resilient U.S. jobs market suggested interest rates will stay higher for longer as central banks fight to slow inflation amid relatively strong economic growth. Investors snapped up dollars to the detriment of …

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How China’s balloon over America steered its way into spying history

By Phil Stewart and Jeff Mason WASHINGTON (Reuters) – When China’s suspected surveillance balloon first passed into U.S. airspace north of Alaska’s Aleutian Islands on Jan. 28, American officials believed there was a good chance it would keep traveling on a northern trajectory over sparsely populated areas. But two days later the balloon did something …

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Dollar extends rebound as U.S. data supports; yen slips

By Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar jumped to a four-week high against the euro on Monday, as last week’s blockbuster U.S. jobs report raised the likelihood of the U.S. Federal Reserve keeping on with its inflation-fighting interest rate hikes for longer. The euro slipped 0.6% against the dollar to $1.0724, …

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Gold up from 1-month lows but stronger dollar, yields check gains

By Seher Dareen (Reuters) – Gold edged higher on Monday, with investors banking on the precious metal’s safe-haven appeal as concerns about an economic slowdown linger, after a stronger dollar and higher Treasury yields nudged prices to a one-month low. Spot gold was up 0.2% to $1,868.96 per ounce by 2:37 p.m. ET (1937 GMT). …

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Oil rises 1% in choppy trade on China demand hopes

By Arathy Somasekhar HOUSTON (Reuters) -Oil prices edged higher in choppy trading on Monday as markets weighed a return in demand from China against supply concerns and fears of slower growth in major economies curbing consumption. Brent futures for April delivery rose $1.05, or 1.3%, to $80.99 a barrel, after trading between $79.10 and $81.25. …

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Possible U.S. debt-ceiling workarounds to avoid default

WASHINGTON (Reuters) – As Democratic President Joe Biden and House of Representatives Speaker Kevin McCarthy gird for a protracted battle over raising the United States’ $31.4 trillion debt ceiling, some observers have suggested possible workarounds to avoid disaster if the two sides do not reach a deal. Here are some of their proposals: PLATINUM COIN …

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Workers stage largest strike in history of Britain’s health service

By Sachin Ravikumar and Natalie Thomas LONDON (Reuters) -Tens of thousands of nurses and ambulance service staff walked off the job on Monday in a pay dispute, putting further strain on Britain’s state-run National Health Service with their largest ever strike. Nurses and ambulance workers have been striking separately since late last year but Monday’s …

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Russia’s Sechin says Europe no longer sets Urals price

By Nidhi Verma and Arunima Kumar BENGALURU, India (Reuters) -Europe will no longer set the reference price for Russia’s flagship Urals crude, Igor Sechin, the CEO of Russia’s oil major Rosneft said on Monday, now Asia has emerged at the largest buyer of Russian oil since the West placed it under sanctions. Around 70% of …

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South African rand weakens as U.S. dollar extends gains

JOHANNESBURG (Reuters) -South Africa’s rand weakened on Monday, as the U.S. dollar jumped on expectations that the U.S. Federal Reserve might pursue its inflation-fighting interest rate hikes for longer. At 1550 GMT, the rand traded at 17.6975 against the dollar, 1.24% weaker than its previous close. The dollar was last up 0.55% at 103.700 against …

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