Bloomberg Japan will make it easier for cryptocurrency exchanges to list tokens, pressing ahead with plans to liberalise the industry even after the epic failure of Sam Bankman-Fried’s digital empire. The body that governs crypto exchanges informed member companies of the new rule which takes effect immediately, enabling them to list coins without going through a lengthy pre-screening unless the …

Bloomberg Malick Diop felt something shifting on Wall Street. He’d joined Morgan Stanley in the grim days of 2009, when big banks were trying to pay back taxpayer bailouts and deflect public fury. But four years later, the ire was fading and ambition was the order of the day. “It really felt like, for the first time, the job and …

  Bloomberg Solana, the cryptocurrency backed by fallen crypto mogul Sam Bankman-Fried, tumbled amid concerns that large holders may be about to offload the token. Solana dropped as much as 12% on Wednesday and was trading 8.8% lower as of 8:40 am in London. Other tokens saw modest declines, with Ether slipping 1.3% and Bitcoin down 0.3%. While other so-called …

  Bloomberg India’s $50 billion fintech industry will face hurdles in the form of tougher regulatory scrutiny and tighter liquidity leading to higher cost of capital for some companies next year, Rakesh Pozhath, partner at consulting firm Bain & Company, said. Investors into the country’s fintech space that has drawn heavyweights from Warren Buffett’s Berkshire Hathaway Inc to Masayoshi Son’s …

  Bloomberg Sweden’s household lending grew last month at the slowest pace on record, as rates rise and home prices plunge. In November, lending to households grew by 4.1%, which is the lowest annual increase since Statistics Sweden began collecting the data in 2006. Mortgages accounted for 82% of all new loans, the office said in a statement. New lending …

  Bloomberg Customers of failed cryptocurrency exchange FTX sued in bankruptcy court in hopes of being first in line to recover some of the billions lost in the meltdown of Sam Bankman-Fried’s digital-asset empire. A group of four FTX customers asked a bankruptcy judge to rule their holdings in the Bahamas-based exchange belong to them, rather than FTX. They want …

  Bloomberg Stocks in Europe struggled for direction along with US equity futures as news of further moves by China to reopen its economy failed to lift investor sentiment in the final week of a dismal year for markets. The Stoxx Europe 600 index erased an early advance, with carmakers and technology stocks leading declines. Basic-resources stocks rose as prices …

Bloomberg Foreigners bought the least amount of Chinese domestic shares this year after a selloff in the world’s second-largest stock market amid stringent Covid-19 restrictions and a housing slump. Overseas investors have purchased a net 87 billion yuan ($12.5 billion) of stocks in Shanghai and Shenzhen so far this year through trading links with Hong Kong. That’s about a fifth …

  Bloomberg Oil climbed as China took more steps to unwind its Covid Zero policy and freezing weather across the US prompted refinery closures in the vital Texas Gulf Coast area. West Texas Intermediate traded near $80 a barrel after Beijing announced it will no longer subject inbound travellers to quarantine from early January, the latest step in the dismantling …

  Bloomberg Southwest Airlines expects the flight chaos caused by the massive winter storm that battered the US to continue for at least another few days as the government questioned whether the airline is complying with its customer service plan. “In all likelihood we’ll have another tough day tomorrow as we work our way out of this,” Chief Executive Officer …