Finance


    • Libra faces EU antitrust scrutiny

      Libra faces EU antitrust scrutiny

      Facebook's less than two-months-old Libra cryptocurrency project is being probed again, this time by European Union antitrust regulators. According to documents, seen by Bloomberg, the European Commission have begun conducting a preliminary investigation on "the potential anti-competitive behavior," related to the Libra Association.

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    • Eurozone second-quarter growth slows

      Eurozone second-quarter growth slows

      The eurozone’s GDP barely grew in the second quarter of 2019, data showed on Wednesday, as economies across the bloc lost steam and the largest, Germany, contracted thanks to a global slowdown driven by world trade conflicts and uncertainty over Brexit.

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    • UK economy posts worst quarter since 2012

      UK economy posts worst quarter since 2012

      The British economy has shrunk for the first time since late 2012, after official data Friday showed second-quarter gross domestic product (GDP) contracted by 0.2%, dragged down by a slump in manufacturing just as Prime Minister Boris Johnson prepares to leave the European Union with or without a divorce deal.

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    • British pound falls to new low after US rate cut

      British pound falls to new low after US rate cut

      British pound fell to a 30-month low against the US dollar on Thursday as a result of continued Brexit uncertainties and US interest rate cut for the first time in a decade. The British currency was trading just below 1.210 before noon, continuing its downward trend after a brief respite on Wednesday. The pound lost 4% throughout July, and dropped below 1.23 against the US dollar for the first time on Monday since Article 50, the mechanism which started the Brexit process, was triggered in March 2017.

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    •  US Fed cuts key interest rate amid economic 'uncertainties'

      US Fed cuts key interest rate amid economic 'uncertainties'

      The US Federal Reserve cut the benchmark lending rate on Wednesday for the first time in more than a decade, moving to stimulate the economy after a year of sustained pressure from President Donald Trump. The target for the federal funds rate is now 2.0-2.25%, 25 basis points lower, and the central bank vowed to "act as appropriate to sustain the expansion."

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    • Euro zone second-quarter growth halves

      Euro zone second-quarter growth halves

      Euro zone economic growth halved in the April-June period and inflation slowed sharply in July even though the unemployment rate fell to its lowest in 11 years, data from the European Union’s statistics office showed on Wednesday.

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