Author: News Room

By Valerie Volcovici and Nailia Bagirova BAKU (Reuters) – COP29 climate summit host Azerbaijan urged participating countries to bridge their differences and come up with a finance deal on Friday, as negotiations at the two-week conference entered their final hours. World governments represented at the meeting in the Caspian Sea city of Baku are tasked with agreeing a sweeping plan that would see rich nations pledge to hand over hundreds of billions of dollars to help poorer countries grapple with the worsening impacts of global warming. Economists have said developing countries need at least $1 trillion annually by the end…

The Pound Sterling faces a sharp sell-off as UK Retail Sales declined at a faster-than-projected pace in October. Weak UK Retail Sales data could boost BoE dovish bets for December. Investors await the flash S&P Global PMI data for both the UK and the US. The Pound Sterling (GBP) weakens against a majority of its peers, except Asia-Pacific currencies, as the United Kingdom (UK) Retail Sales data for October contracted at a faster-than-expected pace. The British currency trades near 1.2550 against the US Dollar (USD) in Friday’s London session, a six-month low. Retail Sales, a key measure of consumer spending, declined by 0.7%…

Recently, GT Protocol has teamed up with Units Network, the blockchain protocol providing modular solutions to enable everyone in the crypto and web3 sectors to have better access to investments. Units Network 🤝 GT ProtocolWe’re thrilled to partner with @GT_Protocol, a cutting-edge Web3 platform revolutionizing access to DeFi, CeFi, and NFT markets through its AI-powered, all-in-one conversational interface 🧠Together, we’re building a network integration to make… pic.twitter.com/2qDkMCtzuj — Units.Network (@UnitsNetwork) November 21, 2024 GT Protocol ($GTAI) is among the most often used distributed artificial intelligence products of 2024. It makes use of outstanding artificial intelligence technology and offers consumers help…

Gautam Adani has been charged with bribery in a $250 million case by federal prosecutors.Prosecutors said four of his associates discussed their share of the bribes via Excel and PowerPoint.Those presentations listed various ways to reimburse Adani for the bribes, investigators say.New York prosecutors charging one of India’s richest men with bribery said his associates used Microsoft Excel and PowerPoint to discuss and analyze their corrupt payments.Gautam Adani, the founder of the Indian conglomerate Adani Group, is accused by federal prosecutors of promising more than $250 million in bribes to Indian officials for solar panel contracts and then hiding the…

By Indradip Ghosh BENGALURU (Reuters) – German home prices will reverse their relentless two-year fall and rise 3% next year and in 2026 on lower borrowing costs, according to analysts polled by Reuters who said rental growth would outpace housing inflation in the coming year. Once riding high on the wave of low interest rates, the property market in Europe’s largest economy plunged into its worst crisis in decades as a sharp rise in rates after the COVID-19 pandemic tipped developers into insolvency. Prices have plummeted 12% from a peak in Q2 2022 after surging nearly 25% during the pandemic.…

By Shankar Ramakrishnan, Sumeet Chatterjee, Davide Barbuscia and Sinead Cruise HONG KONG/NEW YORK (Reuters) – Some global banks are considering temporarily halting fresh credit to India’s Adani Group but staying put with existing loans following U.S. prosecutors’ indictment of its billionaire founder Gautam Adani for fraud, sources said. U.S. prosecutors have charged eight people, including Adani chair Gautam Adani, with agreeing to pay about $265 million in bribes to Indian government officials to obtain contracts and develop India’s largest solar power plant project. The crisis is the second in two years to hit the ports-to-power conglomerate founded by Adani, 62,…

NZD/USD receives downward pressure as the RBNZ is highly expected to deliver a 50 basis point rate cut in November. The US Dollar Index rose to a fresh yearly high of 107.20 during the European session on Friday. Traders await the US S&P Global PMI data scheduled to be released in the North American session. NZD/USD extends its losing streak for the third consecutive day, trading around 0.5830 during the European hours on Friday. This downside of the NZD/USD pair is attributed to growing expectations that the Reserve Bank of New Zealand (RBNZ) could deliver a bumper interest rate cut…

This week I had the pleasure of interviewing Jeff Park, head of alpha strategies at Bitwise Asset Management, to unpack the BTC ETF options launch this week. Here are the main takeaways from our interview that I learned: Volatility Smile Typically with risk assets, puts demand a higher premium than calls. This is because most people use options to hedge their longs, creating skewed demand for puts over calls. This typically creates a half smile in the volatility structure as seen below: Something very unique about crypto, however, is that it has a persistent smile to its volatility surface —…

On Wednesday, Gautam Adani was charged by US prosecutors in a massive bribery scheme. The charges have spurred an investor revolt and at least one customer to back out of major deals. Adani is the 2nd-richest person in India, behind Mukesh Ambani. Gautam Adani, the second-richest person in India, is facing bribery charges in the US and business tumult globally.Adani is the founder and chairman of the Adani Group, a multinational conglomerate with businesses spanning energy, mining, ports, and airports. The Adani Group owns India’s largest commercial port and has a controlling stake in Mumbai’s international airport.On Wednesday, New York prosecutors said Adani executives paid…

BERLIN (Reuters) – New German Finance Minister Joerg Kukies dampened expectations that a reform of the nation’s spending cap, known as the debt brake, could lead to more leeway in the federal budget in an interview with the Handelsblatt newspaper published on Friday. “You have to look at what is realistic and what there could be a political consensus on,” Kukies told Handelsblatt, adding that “in my view, this would be a moderate, targeted reform.” German political parties have bristled over the spending rules, which limits the country’s public deficit to 0.35% of gross domestic product, viewing it as a…