BUSINESS
Central Banks, BIS develop digital currencies platform prototype
The two prototypes demonstrate the technical viability of such a platform, the BIS said in a statement Tuesday with the Reserve Bank of Australia, Bank Negara Malaysia, the Monetary Authority of Singapore, and the South African Reserve Bank.
BUSINESS
Jerome Powell is ready to back half-point hike in May if necessary
Policy makers raised the benchmark lending rate by a quarter point at their meeting last week -- ending two years of near-zero borrowing costs -- and signaled six more hikes of that magnitude this year, based on the median projection.
WORLD
The US Fed needs a boring bank regulator
US President Joe Biden needs to appoint an apolitical Fed staffer
WORLD
The US Fed’s actions don’t match Jerome Powell’s words
Economists who think the Fed has a lot of catching up to do are entitled to be puzzled. They heard the central bank say it agrees with their analysis but for some reason isn’t going to do what that analysis demands
BUSINESS
Previous crashes may give clues to China jet’s mystery plunge
While most plane crashes occur during take off and landing, violent descent incidents such as Monday’s crash account for an outsize portion of aviation deaths because they almost inevitably kill everyone aboard.
BUSINESS
Alibaba hikes buybacks to $25 billion as crackdown signals ease
The board of China’s e-commerce leader has approved the program, which will run for two years through to March 2024, the company said in a statement.
BUSINESS
Electric vehicles are out of reach for most US consumers
Despite all the hype for EVs, the dealer told me, many of his customers live paycheck to paycheck and bargain for every dollar of their monthly car payment. A $60,000 Tesla isn’t happening.
BUSINESS
Oil thirst Is forcing Joe Biden to pivot US back to Saudi Arabia
The softening U.S. attitude, described by a dozen people familiar with the debate, follows months of efforts by some senior administration officials to convince a wary president that ignoring the de facto Saudi leader was hampering U.S. foreign policy goals.
BUSINESS
Oil rallies as EU debates possible ban on Russian crude imports
West Texas Intermediate rallied toward $115 a barrel after surging 18% over the previous three days. Josep Borrell, the EU’s foreign policy chief, said that he expects leaders to discuss, but probably not yet approve, further sanctions against Russia when they meet in Brussels later this week.
STOCKS
Goldman Sachs to Offer Over-the-Counter Crypto Options Trading
The move marks the first such transaction by a major bank in the U.S., Galaxy said. It expects the trade to “open the door for other banks considering OTC as a conduit for trading digital assets,” Damien Vanderwilt, co-president and head of global markets at Galaxy, said.
WORLD
Boeing 737 in China Crash Has Good Safety Record, Unlike the Max
According to Airsafe.com, which tracks aviation safety, NG models had just 0.07 fatal crashes per million flights as of 2019. That puts it among a rare group that includes the Boeing 747-400 and 737’s main competitor, the Airbus SE A320 family.
BUSINESS
What Ukraine can learn from Finland’s stand 80 years ago
The Winter War between the Finns and the Soviet Union has important parallels with the current conflict James Stavridis
BUSINESS
Credit Suisse vice chairman Severin Schwan to leave in board shakeup
Christian Gellerstad will become Vice Chairman and also take over as head of the compensation committee from Kai S. Nargolwala, who like Schwan won’t stand for reelection at the annual general meeting.
INDIA
India in talks with top wheat buyer Egypt to start shipments
India’s wheat exports climbed more than fourfold to about 6 million tons in the 10 months ended January 31, from 1.38 million tons a year earlier, according to the authority.
POLITICS
Great Man Theory | Why it’s important to choose wise leaders
It’s hard to look at the Russian invasion of Ukraine, which has turned the global economy upside down and re-ordered Europe’s military priorities, and deny the singular influence of Vladimir Putin’s particular ideas and judgments on the course of world affairs.
BUSINESS
Technology companies have a road out of China
There is a clear trend to ensure that the EV supply chain doesn’t suffer from the same concentration risk as consumer electronics. That’s sure to make future executives, and politicians, sleep a little easier
BUSINESS
Oil is not at $200, but it is pricey enough for Asia
The 1970s stagflation in the West coincided with the rise of Asia. Conditions are very different now because of, among other things, the scarring from the pandemic
BUSINESS
Ronaldo takes a shot at cricket NFTs as he bets on blockchain startup
Venture capital firms B Capital Group and Insight Partners are leading FanCraze’s Series A round, said the people, who asked not to be identified as the information is private. The fundraising for the blockchain startup, previously known as Faze Technologies, has additionally attracted South Korea’s Mirae Asset, the people said.
BUSINESS
Two-minute battery changes propel India’s shift to e-scooters
Sagyarani, a 38-year-old e-shuttle driver for MetroRide, pulls up to one of startup Sun Mobility’s 14 automated orange-and-black booths, taps her authentication key to open a vacant compartment, inserts a drained battery and pulls out a fully powered pack.
BUSINESS
Market gyrations ease with traders recalibrating Russia risk
The greenback was little changed against major peers as Asia trading began Monday, after its first weekly loss in a month, even as the Federal Reserve hiked rates. Japan’s yen was also steady after hitting a six-year low.
BUSINESS
After Oil’s Surge, Saudi Aramco hikes spending to boost output
The Saudi Arabian firm, like rivals such as BP Plc and Chevron Corp., has experienced a sharp turnaround from 2020, when the coronavirus pandemic hammered energy demand and forced it to shelve several projects.
WORLD
Market gyrations ease with traders recalibrating Russia risk
All eyes will be on the dollar when markets reopen at 2 pm in New York (5 am Monday in Sydney) after the currency’s first weekly loss in a month, even as the US Federal Reserve hiked rates.
WORLD
India’s dependence on Russian weapons tethers PM Narendra Modi to Vladimir Putin
India operates over 250 Su-30 MKi Russian-made fighter jets, seven Kilo-class submarines and more than 1,200 Russian-made T-90 tanks -- all of which are operational for another decade, said people familiar with the situation.
WORLD
Europe’s workers wary of asking for pay raises despite inflation
The poll showed just one-in-five workers in Spain, and one-in-four in Germany, plan to ask for a salary bump. In the U.K., the number is 30%. That compares with 40% in the U.S. and more than 70% in Indonesia, India and the United Arab Emirates.
