economic news

European Central Bank Says Bitcoin Is On “Road To Irrelevance”

The bitcoin logo displayed on a smartphone with euro banknotes in the background. Andrea Ronchini | NurPhoto via Getty Images The European Central Bank has strongly criticized bitcoins Wednesday, saying the cryptocurrency is on a “path to irrelevance.” In a blog post titled “Bitcoin’s Last Stand,” ECB Director General Ulrich Bindseil and analyst Jürgen Schaff …

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Airbnb launches the first accommodation platform for apartment renters

Airbnb partners with several large landlords and management companies to list designated apartment buildings where tenants are allowed to offer short-term sublets on the site. The company said Wednesday that a new page on its website will list so-called Airbnb-compatible buildings, which will give tenants the option of hosting their apartments the way landlords can. …

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Chinese factory activity at lowest since April; Mixed Asian markets

Bitcoin Briefly Crosses $17,000 at Highest Levels Since Mid-November Bitcoin price briefly rose above $17,000 during the morning session in Asia for the first time since mid-November. Bitcoin was up 2.2% from the previous 24 hours, according to Coin Metrics and last traded at $16,863.07 per coin. Ether has also risen and is up 4.74% …

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Chinese factory activity data falls short of expectations; Asia-Pacific markets mixed

Chinese factory activity beats expectations and contracts for second straight month China’s official manufacturing purchasing managers’ index for November came in at 48, below the 50-point mark that separates growth from contraction. That’s below analysts’ expectations polled by Reuters, who had forecast a reading of 49. October’s PMI was 49.2. PMI readings are sequential and …

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Buyer turnout hit record over Black Friday weekend, trade group says

A customer searches for shoes at a Macy’s store during the Black Friday sale on November 25, 2022 in Jersey City, New Jersey. Kena Betancur | Getty Images A record number of holiday shoppers – 196.7 million – returned to stores in droves and searched for deals from Thanksgiving Day to Cyber ​​​​Monday, according to …

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Hong Kong shares jump 4% ahead of Chinese Covid briefing

Currency control: Asia-Pacific currencies strengthened strongly, driven by the Chinese yuan The onshore and offshore Chinese yuan strengthened against the dollar in the Asian session ahead of a news conference on Covid measures. The greenback lost 1.09% against the offshore yuan and 0.65% against the land yuan, both trading around the 7.16 levels. The offshore …

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Disney hiring freeze will remain in place, CEO Bob Iger tells employees

Chief Executive Officer and Chairman of The Walt Disney Company Bob Iger and Mickey Mouse look on before ringing the opening bell at the New York Stock Exchange on November 27, 2017 in New York City. Getty Images disney Chief Executive Bob Iger said at his first town hall since returning to the company on …

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