Worldwide cyber disruption affect market trader
A worldwide cyber disruption has disrupted operations, affecting traders in various sectors from London to Singapore. The Workspace news and data platform experienced an outage due to a third-party technical issue. Oil majors Shell, BP, and trading firm Vitol also experienced issues. German banks are also experiencing problems. Capitec Bank in South Africa has fully…
The big four PwC will cut 50% its financial services in China
PricewaterhouseCoopers (PwC) is considering cutting up to half of its financial services auditing workforce in China as a regulatory probe and customer departure sour the company’s outlook. The action comes after PwC was investigated by Chinese regulators for its work as the auditor of the financially distressed China Evergrande Group, which opened new tabs, causing…
US CPI move some interest rate markets
The most recent US consumer price report is anticipated to be a game-changer, but global markets don’t appear to be concerned by the buoyancy of US and global equities at all-time highs and the quiet Treasury and interest rate markets. On Wednesday, the SP500 gained 1%, breaking beyond 5,600 for the first time, and Taiwan’s…
Pound stand firm after vote result
The pound reached a three-week high against the euro following the French election, which could lead to a hung parliament and political impasse in the euro zone. UK Finance Minister Rachel Reeves is expected to make difficult decisions to boost economic growth. The pound has gained 0.5% against the euro since Labour’s victory, dropping to…
The BoC will lower rates by 25basis
Canada’s unemployment rate reached a 29-month high of 6.4%, indicating job losses as the labor market struggles to accommodate a rapidly growing population. The Bank of Canada (BoC) is expected to cut rates this month to around 56%, raising bets that the country may be flirting with recession. The unemployment rate has risen by 1.4…
Cryptocurrency assets got exposure in January 2026
Global banking authorities have authorized templates for banks to reveal their exposure to cryptocurrency assets starting in January 2026. The Basel Committee on Banking Supervision aims to enhance information availability and support market discipline. The committee addresses the prudential impact on capital of tokenized deposits and stablecoins. Basel members will continue to monitor cryptoasset markets…
Binance got filled against SEC
The US Securities and Exchange Commission (SEC) has allowed a lawsuit against Binance, the world’s largest cryptocurrency exchange, to proceed in part. The lawsuit alleges that Binance and its founder, Changpeng Zhao, violated securities laws, including falsifying trade volume figures, stealing customer cash, and misleading investors about market surveillance measures. The judge’s decision is a…
US dollar weakened while Treasury rose
The US dollar weakened following data showing unchanged monthly inflation in May, while Treasury yields rose. Global stock indexes retraced their early gains, with the Nasdaq, S&P 500, and MSCI world stock index reaching new highs before declining. The PCE price index grew 2.6% in the year ending in May, following a 2.7% gain in…