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…

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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.…

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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…

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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…

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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…

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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…

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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…

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Traveling in Europe during the summer? Consider this

As travelers set off on vacations to avenge being grounded for so long due to the pandemic, they are getting a reality check. Logjams at airports are ensuring a rather rocky start to their long-awaited trips European airports are once again inundated with travelers. This is even before summer holidays have begun in many countries.With most of the pandemic-related restrictions…

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Pope condemns Europe’s mistreatment of migrants and efforts to ‘cancel Christmas’

Speaking on the Greek island of Lesbos, Pope Francis called the neglect of migrants the “shipwreck of civilisation”. The Pope first visited Lesbos in 2016, when it was a major entry point for people trying to reach Europe. Since then, new flashpoints have emerged and the Pope expressed regret that little had changed. Last month 27 people died when their…

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BIDEN & PUTIN TO HOLD TALKS AMID UKRAINE INVASION FEARS

US President Joe Biden and Russia’s Vladimir Putin will speak via video call on Tuesday, the White House says, amid mounting tensions over Ukraine. It comes after Secretary of State Antony Blinken said the US had evidence that Russia had made plans for a “large scale” attack on Ukraine. But he added it was unclear if Mr Putin had made…

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