Business News from WN Network

Document exposes Uganda’s attempt to destabilize Ethiopia 2022-07-02
New Business Ethiopia

A leaked document exposed Uganda’s attempt to destabilize Ethiopia by training the armed group Tigray Peoples Liberation Front (TPLF). Indicating that it has got credible leaked document, Scoop, an independent news website, on Friday reveals how the Government of Uganda ahs been engaged in training...

photo: AP / Hajarah Nalwadda

NFT sales hit 12-month low after cryptocurrency crash 2022-07-02
The Guardian

Sales of non-fungible tokens totalled just over $1bn in June, compared with peak of $12.6bn in January Non-fungible tokens have been swept up in the cryptocurrency crash as sales reached a 12-month low in June. NFTs confer ownership of a unique digital item – often a piece of virtual art – upon...

photo: Creative Commons / Marco Verch

FBI offers $100,000 reward for help finding OneCoin ‘Cryptoqueen’ 2022-07-01
The Guardian

Bulgarian Ruja Ignatova allegedly defrauded investors out of $4bn with fake cryptocurrency scam A woman known as the “Cryptoqueen” who is accused of defrauding investors out of $4bn (£3.3bn) by selling a fake cryptocurrency has been placed on the FBI’s list of its 10 most-wanted fugitives. The story...

photo: Creative Commons / OneCoin Coporation

Darkness descends on developing Asia’s currencies 2022-07-01
Asiatimes

TOKYO - The falling Japanese yen and Chinese yuan may be getting all the headlines, but the real currency calamity is brewing under the radar elsewhere – in...

photo: WN / RTayco

Mayor vows to create better Seoul for the poor 2022-07-01
Korea Times

Seoul Mayor Oh Se-hoon being sworn in during his online mayoral inauguration at the city's government office on Friday. The inauguration of the city's 39th mayor was also streamed live via YouTube. Courtesy of Seoul Metropolitan Government Mayors, governors nationwide start new terms on Friday By Ko...

photo: WN / RTayco

Euro zone factory production falls in June for first time in two years -PMI 2022-07-01
Reuters

LONDON, July 1 (Reuters) - Euro zone manufacturing production fell last month for the first time since the initial wave of the coronavirus pandemic two years ago as higher prices and a darkening economic outlook kept consumers wary of making purchases, a survey showed. S&P Global's final...

photo: Public Domain

Eastward gas flows via Yamal-Europe pipeline fall 2022-07-01
Reuters

LONDON, July 1 (Reuters) - Eastward flows of Russian gas via the Yamal-Europe pipeline to Poland from Germany fell on Friday morning in line with nominations or requests for gas, data from pipeline operator Gascade showed. Exit flows at the Mallnow metering point on the German border...

photo: AP / Sergei Grits, File

Supreme Court ruling on carbon emissions bodes badly for U.S. SEC climate rule 2022-07-01
Reuters

Law firms Moses & Singer LLPFollow WASHINGTON, June 30 (Reuters) - A U.S. Supreme Court decision to curb the Environmental Protection Agency's power to regulate greenhouse gas emissions may be bad news for a Securities and Exchange Commission (SEC) bid to force companies to disclose their...

photo: AP Photo / Bob Moen

Fed U-turn likely if US enters recession but risk-appetite may rise only gradually 2022-06-30
The Times of India

The final estimate for March quarter GDP in the US suggested the world's largest economy shrank 1.6 per cent in the quarter. But at the same time, Fed Chair Jerome Powell made a...

photo: Creative Commons / Wadester16

Johnson commits to raising UK defence spending to 2.5% of GDP by end of decade 2022-06-30
Belfast Telegraph

Boris Johnson has committed Britain to increasing defence spending to 2.5% of GDP by the end of the decade as Nato rises to the threat of Russian aggression. The Prime Minister pledged the hike on Thursday after a Cabinet row over defence spending, and insisted that...

photo: AP / Stefan Rousseau/Pool Photo