Netflix loses almost a million subscribers

After enjoying a long reign as the king of streaming, Netflix faces a tough fight to keep its crown. It lost almost 1m subscribers between April and July, as the number of people quitting the service accelerated. But that was not as many as the streaming giant had feared. Asked what may have stopped subscriptions sliding further, the firm’s chief…

View More Netflix loses almost a million subscribers

Amazon offers to limit use of merchant data in bid to settle EU antitrust probe

Amazon has offered to limit its use of marketplace seller data and make changes to ‘Buy Box’ rankings in a bid to settle antitrust concerns in the European Union, the Commission confirmed today. It has also offered to revise how sellers can quality for inclusion to Prime; and allow them to choose their own delivery firm and negotiate terms directly…

View More Amazon offers to limit use of merchant data in bid to settle EU antitrust probe

Dutch central bank fines Binance 3.3 million euros

The Dutch central bank (DNB) on Monday said it had fined Binance, one of the biggest cryptocurrency exchanges, 3.3 million euros ($3.35 million) for offering services in the Netherlands without being registered in the country. The fine was issued against Binance Holdings Ltd. in April 2022, following a public warning issued against Binance in August 2021, DNB said. The bank…

View More Dutch central bank fines Binance 3.3 million euros

Crypto lender Celsius defends bitcoin mining plans as bankruptcy kicks off

Cryptocurrency lender Celsius Network said bitcoin mining is key to the company’s restructuring efforts at a U.S. bankruptcy court hearing on Monday in Manhattan. New Jersey-based Celsius received approval from U.S. Bankruptcy Judge Martin Glenn to spend $3.7 million in construction costs at a new bitcoin mining facility and $1.5 million on customs and duties on imported bitcoin mining rigs.…

View More Crypto lender Celsius defends bitcoin mining plans as bankruptcy kicks off

EU cuts euro zone growth forecasts, revises up inflation outlook

The European Commission cut its forecasts for economic growth in the euro zone for this year and next and revised up its estimates for inflation on Thursday largely due to the impact of the war in Ukraine. In its quarterly forecasts, Brussels confirmed its more downbeat outlook, which it had already discussed with euro zone finance ministers on Monday The…

View More EU cuts euro zone growth forecasts, revises up inflation outlook

The hike is (almost) here! Now for what comes next: Five questions for the European Central Bank

The European Central Bank is set to deliver its first interest-rate hike since 2011 this week, yet markets are already fast-forwarding to focus on the path for higher rates beyond Thursday as economic prospects darken. That outlook is getting murkier by the day because inflation is still accelerating and growth slowing sharply. “The trade off the ECB is facing is…

View More The hike is (almost) here! Now for what comes next: Five questions for the European Central Bank

US dollar nudges down from multi-year highs as euro gasps for gas

The dollar began the week nudging down from multi-year highs, with a hotter-than-forecast inflation reading in New Zealand lending modest support to the kiwi, though fears about Europe’s gas supply put a cap on dollar selling. The greenback has soared this year thanks to a combination of rising U.S. interest rates and wobbling economies in Europe and China. It pushed…

View More US dollar nudges down from multi-year highs as euro gasps for gas

Swiss central bank plans at least 50 bps rate hike in September, newspaper reports

The Swiss National Bank is currently planning to raise interest rates by 50 or 75 basis points in its next scheduled monetary policy announcement in September, a Swiss newspaper reported on Saturday, citing one or more people involved in the matter. The central bank last month raised its policy rate for the first time in 15 years and Chairman Thomas…

View More Swiss central bank plans at least 50 bps rate hike in September, newspaper reports

European parliament backs ‘historic’ reboot to EU’s digital rulebook

The European Parliament has given a final stamp of approval to two major pieces of regulation which will update the EU’s rules for digital businesses. The Digital Markets Act (DMA) will introduce new ‘ex ante’ competition rules for gatekeeping tech giants to ensure markets are fair and open; while the Digital Services Act (DSA), which applies more broadly — to…

View More European parliament backs ‘historic’ reboot to EU’s digital rulebook

Russia, Belarus athletes may face Paris 2024 ban: IOC’s Reedie

 Athletes from Russia and Belarus may not be allowed to compete at the Paris 2024 Games over Moscow’s invasion of Ukraine, senior International Olympic Committee (IOC) member Craig Reedie said. The IOC issued guidance to sports governing bodies in February to remove the two countries’ athletes from competition. Belarus has been used as a staging ground for Russia’s invasion, which…

View More Russia, Belarus athletes may face Paris 2024 ban: IOC’s Reedie