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  Bloomberg European Central Bank (ECB) President Christine Lagarde said cryptocurrencies are “based on nothing” and should be regulated to steer people away from speculating on them with their life savings. Lagarde told Dutch television that she’s concerned about people “who have no understanding of the risks, who will lose it all and who will be terribly disappointed, which is ...

  Bloomberg Gold stored at the Bank of England (BOE) has been trading at an unusually low price, in a sign that central banks may be shedding some of their holdings. The Bank of England’s vaults contain 5,676 tons of bullion, one of the largest stockpiles in the world, which it holds on behalf of other central and commercial banks. ...

  Bloomberg Deutsche Bank is among a number of investment banks included in a sweeping probe by US regulators to find out how much employees rely on private communication channels such as WhatsApp to conduct business. There’s an “industry-wide” investigation in the US and Deutsche Bank is part of it, legal head Stefan Simon said at the lender’s annual general ...

  Bloomberg The Philippine central bank raised its key interest rate for the first time since 2018 to combat Southeast Asia’s second-fastest inflation. Bangko Sentral ng Pilipinas increased the benchmark rate by 25 basis points to 2.25%, it said in a statement, as forecast by 14 of 21 economists in a Bloomberg survey. The rest saw no change. Philippines joined ...

  Bloomberg Galaxy Digital Holdings Ltd. is anticipating a loss of $300 million in net comprehensive income this quarter, as uncertainty swirls across the broader cryptosphere. The crypto merchant bank revealed the potential hit in a preliminary update “in light of recent market conditions.” Comprehensive income typically combines both a company’s net income as well as any yet-to-be realised financial ...

Bloomberg Nomura Holdings Inc is building a team to help firms tap opportunities in the metaverse, as Japan’s biggest brokerage pushes deeper into digital services and private markets to boost profit. The Tokyo-based firm is considering using its investment banking knowledge to help companies in the virtual space raise money and advise on how to navigate regulations as they emerge, ...

  Bloomberg Mercedes-Benz AG will cut back its entry-level suite of cars as part of a strategic overhaul that will channel more than three-quarters of the carmaker’s investment to its higher-end vehicles. Mercedes unveiled its plans to major investors, placing the drive for greater profitability on its so-called top end vehicle segment, home to the iconic G-Wagon, the flagship S-Class ...

  Bloomberg Apple Inc executives previewed its upcoming mixed-reality headset to the company’s board, indicating that development of the device has reached an advanced stage. The company’s board, made up of eight independent directors and Apple Chief Executive Officer Tim Cook, convenes at least four times a year. A version of the device was demonstrated to the directors during the ...

  Bloomberg Alphabet Inc’s Google will let consumers store and use credit cards, event tickets and car keys in a new Wallet app that it’s separating from its long-time Pay app. Consumers in the US and Singapore will have access to both apps, with Pay used for financial management and transferring money to friends or family, while in 39 other ...

Bloomberg Harley-Davidson Inc has told investors privately it will be able to make up for lost production later this year after halting operations because of a problem with a supplier part. The motorcycle maker tumbled after saying it would halt almost all assembly and shipments for two weeks because of a “regulatory compliance matter” with a part from one of ...