The recent strength of the dollar has put pressure on Asian currencies, leading to a slight decline in their value. This trend was particularly evident as the dollar index and dollar index futures rose in Asian trade. The upcoming testimony by Federal Reserve Chair Jerome Powell is expected to provide further insights into the direction
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San Francisco’s real estate market has been facing significant challenges, with the vacancy rate for office space reaching a fresh record of 34.5% in the second quarter. This is a sharp increase from 33.9% in the first quarter, 28.1% a year ago, and a mere 5% before the pandemic. The average asking rent has also
The Massachusetts Bay Transit Authority recently priced over $1 billion of senior sales tax bonds, as it contends with the aftermath of the COVID-19 pandemic, which has led to significant ridership and revenue losses. Similar to many other transit agencies nationwide, the MBTA is dealing with a remote work environment that has impacted its operations
In a significant move, Paramount Global has finalized a merger deal with Skydance, marking the end of a prolonged negotiation process. This deal will result in the Redstone family relinquishing control of the renowned movie studio and media company. The merger received approval from Paramount’s special committee after an agreement was reached between Shari Redstone’s
The French stock market has recently experienced a period of volatility as a result of political news. This instability has led to a significant pullback in June, with the CAC 40 index correcting nearly 10% since reaching its peak in March. Despite this setback, it is important to note that a primary uptrend still remains
Bitcoin price took a hit on Monday as concerns over distributions by the now defunct crypto exchange Mt Gox weighed heavily on market sentiment. Despite finding some support around the $57,000 level after hitting four-month lows, Bitcoin fell 0.8% to $57,072.0 in the past 24 hours. The major cryptocurrency market has been rattled by reports
The soaring demand for air travel this summer has not translated into record profits for U.S. airlines. This discrepancy is casting a shadow over the industry as carriers prepare to report their quarterly results. While some airlines are anticipating record demand and revenue, their profitability is being hampered by rising labor and operational costs. Despite
In early European trade on Monday, the U.S. dollar remained steady as traders awaited key inflation data. The Dollar Index, which tracks the greenback against a basket of other currencies, traded flat at 104.577 after a recent slump. This stabilization followed soft U.S. payrolls data that increased expectations of a Federal Reserve interest rate cut
Asian currencies experienced minimal movement on Monday as the global economic landscape remained uncertain. The dollar, meanwhile, faced significant losses due to mounting expectations of interest rate cuts. The overall sentiment towards Asian currencies was impacted by concerns about a potential trade war between China and the European Union. The Japanese yen strengthened on the
A Bitcoin address known as “1BLoHu” has come back to life after a decade of dormancy, holding 140 BTC valued at over $8 million in today’s market. The address first received the sum back in 2013, when it amounted to approximately $107,000. Interestingly, the initial transaction originating from another address, “1aWmn,” also had a remaining