Financial markets

US aims to hobble China's chip industry with sweeping new rules

US aims to hobble China’s chip industry with sweeping new rules

The Biden administration on Friday published a sweeping set of export controls, including a measure to cut China off from certain semiconductor chips made anywhere in the world with US tools, vastly expanding its reach in its bid to slow Beijing’s technological and military advances. The series of measures could amount to the biggest shift …

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Why Credit Suisse is battling rumors of a Lehman-style crash

Why Credit Suisse is battling rumors of a Lehman-style crash

Credit Suisse is at the center of market turmoil amid rumors that the bank could be on the brink of collapse. Investors have rushed to sell the Zurich-based bank’s shares amid concerns about its financial health as it prepares to unveil a costly restructuring plan due later this month. Speculation that the bank could fail …

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Asian shares rise after 'relief rally' on Wall Street

Asian shares rise after ‘relief rally’ on Wall Street

TOKYO (AP) — Asian shares rose Tuesday, encouraged by a rally in US shares after some weak economic data raised hopes that the Federal Reserve might ease away from aggressive interest rate hikes. Japan’s benchmark Nikkei 225 added 2.3% in morning trading to 26,811.08. Australia’s S&P/ASX 200 surged 2.4% to 6,610.50. South Korea’s Kospi jumped …

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US bear market deepens: What that means for you

US bear market deepens: What that means for you

United States stocks slumped further this week as investors navigated a barrage of bad news. Central banks around the world have been scrambling to fight soaring high inflation by increasing the cost of borrowing without hurting long-term growth prospects. Adding to the uncertainty and fear are rising tensions between the West and Russia following Moscow’s …

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Musk accuses the SEC of illegally muzzling him

Musk accuses the SEC of illegally muzzling him

Musk needs to get prior approval before tweeting about Tesla, a requirement he called ‘government-imposed muzzle’. US securities regulators are unlawfully muzzling Tesla CEO Elon Musk, violating his free speech rights by continually trying to enforce a 2018 securities fraud settlement, Musk’s lawyer is contending in a court brief. The document, filed late Tuesday with …

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Asian shares decline ahead of Fed decision on interest rates

Asian shares decline ahead of Fed decision on interest rates

TOKYO (AP) — Asian shares mostly declined Wednesday as investors looked ahead to a widely expected interest rate hike by the US Federal Reserve as it works to squash the highest inflation in decades. Japan’s benchmark Nikkei 225 dipped 1.4% in morning trading to 27,308.66. Australia’s S&P/ASX 200 dropped 1.4% to 6,712.40. South Korea’s Kospi …

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Asian markets open lower after price data slam Wall Street

Asian markets open lower after price data slam Wall Street

Asian markets skidded lower on Wednesday after Wall Street fell the most since June 2020 as a report showed inflation has kept a surprisingly strong grip on the US economy. Tokyo’s benchmark Nikkei 225 lost 2.8% in early trading Wednesday, to 27,816.58, while Sydney’s S&P/ASX 200 declined 2.5% to 6,834.80. In Seoul, the Kospi lost …

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Asian shares fall on Fed worries after Wall Street sell-off

Asian shares fall on Fed worries after Wall Street sell-off

TOKYO (AP) — Asian shares were trading lower Tuesday, echoing a broad sell-off on Wall Street amid speculation about another interest rate hike from the US Federal Reserve. Benchmarks in Asia slid across the region in morning trading, including Japan, China, South Korea and Australia. The latest market slide comes as investors grapple with uncertainty …

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