PBOC Cuts Benchmark Lending Rate in Additional Gesture of Policy Easing
(CNBC) The People’s Bank of China has cut its one-year loan prime rate by 10 basis points to 3.7% from 3.8% as concerns of economic slowdown linger. The central bank…
Bank of America’s Q4 2021 Net Income Jumps 28%, Beating Estimates
(BoA) Bank of America posted a $7.01 billion net income or $0.82 per share in the fourth quarter of 2021, up 28% from the prior year and more than expected…
SoFi Soars After Getting the Nod to Operate as a National Bank
(SoFi) Shares of SoFi Technologies Inc. rose more than 18% on Wednesday as the digital finance firm was approved to operate as a Bank Holding Company. The approval happens through…
China’s Property Stocks Jump as Regulators Eye Escrow Release to Boost Liquidity
(Bloomberg) Bloomberg’s index of stocks of China’s real estate rose 4.1% on Wednesday on reports the regulators are considering easing curbs on access to funds tied in escrow for pre-sold…
Construction Production Plunges 0.2% in the Euro Area in Nov., Improves in the EU
(Eurostat) Euro area posted a 0.2% decline in production in construction in November from October, amid a similar percentage increase in the EU. On a monthly basis, building construction fell…
Sony Loses 13% of Value in a Day as Microsoft Flexes Muscle in $69B Activision Deal
(Bloomberg) Shares of Sony Group Corp. plunged 13% on Wednesday, wiping out $20 billion of value following the $69 billion Microsoft deal for Activision Blizzard Inc. The 13% fall in…
IEA Hikes Oil Demand by 200K bpd, Expects a Return to Pre-Pandemic Levels in 2022
(IEA) The International Energy Agency has raised its demand forecast for oil in 2022 by 200,000 barrels a day to 3.3 million bpd, citing growing Covid-19 vaccinations and the low…
Top Ethereum Whale Spends $128M on Several Altcoins, Including Metaverse Tokens
(Dailyhodl) Third-ranked Ethereum whale named Light has spent over $128 million in a spreading spree that includes Decentraland’s token MANA and Sandbox’s SAND. The whale acquired 642,999 tokens of Decentraland’s…
Intel Readies Its “Bonanza Mine” Chip in February as It Eyes Crypto Mining
(BeinCrypto) Tech giant Intel is set to unveil a new chip, the “Bonanza Mine” processor, when the International Solid-State Circuits Conference kicks off on February 20. The new chip, which…
UK Consumer Prices are Now at a Record in 30 Years After a 5.4% Jump in Dec.
(ONS) Inflation in the United Kingdom rose 5.4% in the 12 months that ended December 2021, the highest on record since March 1992. At 5.4%, the annual inflation is higher…
Business Conditions in NY State Plunge to -0.7 Index in Jan., Manufacturing Stalls
(New York Fed) The New York State posted an unchanged manufacturing activity in January, with the general business conditions index down by third-three points to the negative territory of -0.7.…
Ethereum’s High Gas Fees Causing It to Lose NFT Market Grip to Rivals?
(Markets Insider) JPMorgan strategist says Ethereum’s share of the non-fungible token trading is now around 80%, down from 95% at the start of 2021 as investors move to other networks.…
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