Author: Journalist
Bitcoin has suddenly soared toward its all-time high of $123,000 per bitcoin, climbing to over $121,000 to take its August gains to around 10% (with some predicting more on the way). Sign up now for CryptoCodex—A free newsletter for the crypto-curious The bitcoin price surge comes as the stars on Wall Street, at the Federal Reserve and in Donald Trump’s White House align for bitcoin and crypto—setting up what could be an explosive end to the year. This week, after U.S. president Donald Trump dropped a $12.2 trillion bitcoin and crypto bombshell, the bitcoin price and crypto market is braced…
SINGAPORE – Ask anyone working or investing in crypto about the industry’s outlook in 2022, and he or she would likely have pursed his or her lips. That year saw a series of headline-grabbing implosions. FTX, one of the world’s largest cryptocurrency exchanges at the time, filed for bankruptcy. Singapore-based crypto hedge fund Three Arrows Capital collapsed, owing creditors over US$3 billion (S$3.85 billion). Cryptocurrencies TerraUSD and Luna cratered in value, collectively wiping out US$45 billion in market cap. Cryptocurrency values plummeted as layoffs rocked the sector, with industry watchers heralding the start of a crypto winter.Three years on, the…
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, US, on Friday, Aug. 8, 2025. Michael Nagle | Bloomberg | Getty ImagesStocks rose on Friday, led by the tech sector, as the major averages ended the week with solid gains.The Nasdaq Composite jumped 0.98% for a record close of 21,450.02. The tech-heavy index hit a fresh all-time intraday high earlier in the day. The S&P 500 added 0.78% and ended at 6,389.45, a hair’s breadth shy of a record close. The Dow Jones Industrial Average climbed 206.97 points, or 0.47%, closing at 44,175.61. The…
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., August 6, 2025. Jeenah Moon | ReutersStock futures rose early Thursday as traders mulled over President Donald Trump’s announcement of a new steep tariff on imports of semiconductors and chips.Futures tied to the Dow Jones Industrial Average added 40 points, or less than 0.1%. S&P 500 futures and Nasdaq 100 futures advanced 0.26% and 0.28% respectively.Trump announced late Wednesday that there would be a 100% tariff on imported chips, but not for companies that are “building in the United States.”News of the levy…
[SINGAPORE] The recent furore between US banking giants and private equity (PE) firms over the poaching of junior analysts from the banks has brought renewed focus to an ongoing practice. In Asia, the battle for talent is hotting up as PE managers are under pressure to deploy US$260 billion in dry powder. In key Asian financial hubs such as Hong Kong and Singapore, the situation is less cut-throat, market participants say. Recruiters and executives at three of the biggest American private capital companies told The Business Times that while there are instances of PE firms hiring bankers, the circumstances are…
Once seen as a small, “unexciting” market for income-seeking investors, Singapore equities have taken a sharp turn upwards, surging to record highs, with major banks and market watchers signaling that the rally is just getting started. Building on its strong gains from last year, the benchmark Straits Times Index has advanced nearly 10% so far in 2025 , outperforming the U.S. benchmark S & P 500 and several regional peers. Singapore’s stock market is drawing interest from institutional and retail investors alike, helped by a potent combination of equity market reforms, rising dividends, foreign fund inflows and country’s enduring appeal…
Traders works on the floor of the New York Stock Exchange (NYSE) during morning trading on August 4, 2025, in New York City. Angela Weiss | Afp | Getty ImagesStocks jumped Monday as investors clawed back the steep losses seen in the previous session that were sparked by concerns over the U.S. economy and a new round of tariffs from the Trump administration.The Dow Jones Industrial Average soared 506 points, or 1.2%. The S&P 500 moved up 1.3%, and the Nasdaq Composite surged 1.8%.”Today is sort of a bounce-back day,” said Sam Stovall, chief investment strategist at CFRA Research. “Stocks…
This week in ESG news: Barclays reports £500 million sustainable finance revenue, then drops out of Net Zero Banking Alliance; new voluntary sustainability reporting standard for small companies adopted in EU; 21 states warn asset managers against considering sustainability and climate change as long-term risk factors; Deutsche Bank’s new Global Head of Sustainable Finance; new draft simplified CSRD sustainability reporting standards released; ECB integrates climate risk into collateral decisions; Google to help scale energy storage to address 24/7 clean energy challenge; Trump admin tries to reverse landmark finding underlying major greenhouse gas regulations; NatWest targets £200 billion in climate, transition…
Natalie ShermanBusiness reporter, in New YorkWatch: Trump defends firing of Bureau of Labor Statistics head over “wrong” numbersUS President Donald Trump has fired the boss of one of America’s most important economic institutions hours after weaker-than-expected jobs data stoked further alarm about his tariff policy.On social media Trump claimed that Erika McEntarfer, commissioner of the Bureau of Labor Statistics (BLS), had “RIGGED” jobs figures “to make the Republicans, and ME, look bad”. The unprecedented move by the White House sparked accusations that Trump was politicising economic data.The Senate’s top Democrat, Chuck Schumer, said the president was “a bad leader” who…
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, on Friday, Aug. 1, 2025.Michael Nagle | Bloomberg | Getty ImagesStocks tumbled on Friday to kick off August trading as investors weighed stark signs of a weakening economy and President Donald Trump’s modified tariff rates.The Dow Jones Industrial Average dropped 542.40 points, or 1.23%, closing at 43,588.58 and notching its worst decline since June 13. The S&P 500 shed 1.60% to end at 6,238.01 and post its worst day since May 21, while the Nasdaq Composite dipped 2.24% and settled at 20,650.13 for its…