Bloomberg Coinbase Global Inc. is halting operations in Japan, less than a month after another major digital asset exchange Kraken announced its withdrawal from the country. Customers will have until February 16 to withdraw their fiat and crypto holdings, Coinbase said in a blog post on Wednesday. Any remaining crypto held at Coinbase on or after February 17 will be ...

  Bloomberg Bank of New York Mellon Corp. is planning to lay off about 1,500 staff this year as the US lender says costs will be a top priority for 2023. The reductions account for about 3% of the firm’s 51,700 workforce at year end. The bank reported revenue of $3.92 billion in its fourth-quarter results, missing analyst estimates. BNY ...

  Bloomberg Digital Currency Group, the struggling crypto empire whose Genesis Global Capital lending unit is trying to stave off bankruptcy, said it’s suspending quarterly dividends to preserve cash. The move comes as the group focuses on “strengthening our balance sheet by reducing operating expenses and preserving liquidity,” according to a letter to shareholders.

  Bloomberg JPMorgan Chase & Co. strategist Marko Kolanovic reiterated that he sees downside risk for the stock market in the first quarter, with the bank reducing its recommended equity allocation once again due to fears of a recession and central bank overtightening. The bank strengthened its underweight call for equities broadly and in the euro area specifically, given the ...

  Bloomberg Chinese equities will outperform global peers in the first half of this year, according to Carrhae Capital LLP, which is betting on the nation’s reopening after its emerging-market hedge fund beat peers last year. “We have entered the year with a very bullish stance on China and on the margin we have been taking profits,” Ali Akay, Carrhae ...

  Bloomberg US equity-index futures posted modest gains as investors remained on the edge over the direction of monetary policy and corporate earnings. The yen slid against the dollar after the Bank of Japan kept monetary settings unchanged. Contracts on the S&P 500 and Nasdaq 100 indexes were 0.2% higher each after a choppy session in New York amid diverging ...

Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc), a responsible provider of reliable, lower-carbon intensity energy, announced on Tuesday that it has signed a memorandum of understanding (MoU) with Thyssenkrupp Uhde, a Germany-based subsidiary of thyssenkrupp group that specialises in chemical engineering, to explore a long-term partnership to create new markets for hydrogen and promote global clean energy ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of condolences to President Bidhya Devi Bhandari of Nepal over the victims of the plane crash. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, also sent a similar message to ...

Abu Dhabi / WAM The UAE and Japan signed several agreements and memoranda of understanding (MoU) to help accelerate the energy transition and the adoption of technology in industry. Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and UAE Special Envoy to Japan, met with Yasutoshi Nishimura, Japan’s Minister of Economy, Trade and Industry, on the ...

Abu Dhabi / WAM The Ministry of Industry and Advanced Technology (MoIAT) in collaboration with the Ministry of Energy and Infrastructure (MoEI) and Schneider Electric on Tuesday announced the findings of a nationwide assessment of industrial companies that is designed to help enhance energy efficiency in the industrial sector ahead of the 28th UN Climate Change Conference (COP28) later this ...