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News
US Signs 100-Year Venezuela Oil Deal, Trump Says It Secures 65 Billion Barrels
9+ min ago (378+ words) bloomingbit Pentagon Makes Direct Investment in Bid to Tame High Oil Prices US Government Takes 35% Stake in Operator Gains Right to Buy 20% of Output at Cost Little Immediate Impact on Gasoline Prices Seen China Faces Losses on Maduro-Era Investments President…...
EU Risks Losing 1% of GDP to Extreme Heat, Study Says
10+ min ago (338+ words) Record heat waves and heavy rainfall around the world this year are inflicting widening economic damage. Lower agricultural output, higher energy costs and logistics disruptions are amplifying the fallout. The European Union stands to lose 180 billion euros this year because…...
US Jobs Data, Broadcom Earnings in Focus for Wall Street; Shanghai Watches China PMI
19+ min ago (269+ words) Global stock markets this week will focus on U.S. labor data, earnings from major technology companies and the trajectory of China’s manufacturing sector. Wall Street is poised to react sharply to labor-market readings ahead of the Federal Open Market Committee’s September…...
Won Strengthens as Korea-US Rate Gap Narrows and Dollar Selling Increases
20+ min ago (427+ words) The won has risen to its strongest level against the dollar in 13 months, supported by a narrower interest-rate gap between South Korea and the US after consecutive Bank of Korea rate hikes. Increased dollar selling by semiconductor exporters has also…...
Warsh Uses Jackson Hole to Assert Fed Independence as Rift With Bessent Deepens
31+ min ago (450+ words) Federal Reserve Chair Kevin Warsh sharpened his policy split with Treasury Secretary Scott Bessent at Jackson Hole by signaling that further tightening may still be needed to contain inflation. The remarks also underscored the central bank’s independence from the Trump…...
[Weekly Economic and Crypto Calendar] U.S. July JOLTS Report, August Payrolls Due This Week
55+ min ago (193+ words) ▶︎Aug. 31 (Mon.): △China August manufacturing purchasing managers' index (10:30 a.m. Korea Standard Time) △Germany August preliminary consumer price index (9 p.m. Korea Standard Time) ▶︎Sept. 2 (Wed.): △South Korea August consumer price index (8 a.m. Korea Standard Time) △U.S. August…...
CZ Says He Underestimated RWA Growth and Now Understands Its Appeal
1+ hour, 28+ min ago (205+ words) Changpeng Zhao, Binance’s founder known as CZ, said he underestimated the growth potential of the real-world asset, or RWA, tokenization market. He added that he had also misread several major crypto trends, including the rise of non-fungible tokens and meme…...
Chey Tae-won Urges Korea-Japan Economic Community to Help Counter Low Birthrates
3+ hour, 18+ min ago (640+ words) SK Group Chairman Chey Tae-won said a Korea-Japan economic community could provide a path to addressing low birthrates in both countries by linking their labor markets and regional economies, expanding jobs and income opportunities for young people, and using artificial…...
Bitwise’s BSOL Becomes First Solana ETF to Surpass $1 Billion in Assets
4+ hour, 30+ min ago (254+ words) Bitwise’s Solana staking exchange-traded fund, BSOL, has surpassed $1 billion in assets under management, becoming the first Solana ETF to cross that mark. The fund reached the milestone about 10 months after launch, The Block reported on Aug. 28. In a post on…...
Lee Jae-myung Names Six Ministerial Picks in Reshuffle, Recasts AI and Political Team
5+ hour, 18+ min ago (179+ words) Presidential Chief of Staff Kang Hoon-sik announced the changes at a briefing on Aug. 30. Kang Shin-cheol, a former deputy commander of the Combined Forces Command, was nominated as defense minister. Hong Ji-seon, the second vice land minister, was named as…...