Business

NEW YORK CITY: Oil prices slid on Tuesday as dealers mulled the weak demand outlook after having rallied the previous day on output cuts from key crude producer Saudi Arabia. Europe’s Brent oil contract and US counterpart WTI crude fell more than 2 percent before trimming losses, one day after …

HANOI: Vietnam’s booming food scene was awarded its first-ever Michelin stars on Tuesday, with four restaurants selected by the prestigious dining guide. Three eateries in Hanoi Gia, Tam Vi and Hibana by Koki and one in Ho Chi Minh City Anan Saigon were each awarded one Michelin star. Although there …

On Tuesday, the U.S. Securities and Exchange Commission sued Coinbase Inc., the largest U.S. crypto asset trading platform, accusing it of illegally operating without having first registered with the regulator.  Shares in Coinbase plunge after U.S. securities regulator files lawsuit. The U.S. stock market regulator took legal action on Tuesday …

FRANKFURT: European Central Bank President Christine Lagarde said on Monday that a closely watched measure of eurozone inflation does not appear to have peaked yet, fueling expectations of further interest rate hikes. She told a hearing of the European Parliament that the latest data suggests “indicators of underlying inflationary pressures …

NEW YORK CITY: US authorities on Monday charged cryptocurrency giant Binance with securities law violations that collectively amounted to what they called “an extensive web of deception” and “calculated evasion of the law.” Binance, the world’s largest cryptocurrency exchange, is alleged to have permitted US residents to trade even though …

REDUCTION This March 20, 2018 file photo shows the Spotify app on an iPad in Baltimore. Spotify is cutting about 200 people, or 2 percent of its workforce, as the streaming company reworks its podcast unit. AP PHOTO SPOTIFY is cutting about 200 people, or 2 percent of its workforce, …

The company unveiled the Vision Pro, its pricey virtual reality headset at its annual World Wide Developers Conference in Cupertino, Calif., on Monday. Experts say the competition in the VR realm will foster innovation and could see other major companies enter the space.  New device will cost almost $5,000 Cdn …

Spotify Technology SA said on Monday it would lay off 200 employees in its podcast division, representing about 2 per cent of the audio streamer’s worldwide workforce.  Audio streaming giant is getting rid of 200 workers. Spotify Technology SA said on Monday it would lay off 200 employees in its …

The world’s largest crypto exchange Binance and its CEO and founder Changpeng Zhao were sued by the U.S. Securities and Exchange Commission on Monday for failing to restrict U.S. customers from its platform and misleading investors about its market surveillance controls, as well as for operating an unregistered securities exchange.  …

HONG KONG: Asian equities on Monday built on a global rally after a mixed US jobs report lifted hopes the Federal Reserve (Fed) will hold off hiking interest rates this month. The figures, combined with news that Washington had finally passed a debt ceiling deal to avert a catastrophic default, …