Businesses across Asia are increasingly warming up to stablecoins for cross-border transactions — a trend set to accelerate further as Hong Kong moves to legalize the use of digital tokens, experts told CNBC. From online travel agencies and luxury goods resellers to high-end hotels, companies are embracing stablecoin for payments, citing both speed and cost-efficiency compared to the traditional financial system. Stablecoins are cryptocurrencies usually pegged to sovereign currencies or even gold, making them more stable compared to other crypto assets. Hong Kong’s new legislation , set to take effect Friday, will formalize the framework for financial firms to issue…
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ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailCNBC’s Leslie Picker with JPMorgan CEO Jamie Dimon, join ‘Money Movers’ to discuss his branch strategy, the economy, his meetings with the president and Trump’s comments about Fed Chair Powell and more.21:37Thu, Jul 31 202511:43 AM EDT Source link
A customer stands in front of a fruit and vegetable stall at an open-air market in Paris on July 15, 2025.Behrouz Mehri | Afp | Getty ImagesEuro zone inflation was unchanged at a higher-than-expected 2% in July, flash data from statistics agency Eurostat showed Friday.Economists polled by Reuters had expected the figure to hit 1.9%, after a 2% reading in June.So-called core inflation, which strips out more volatile food, energy, alcohol and tobacco prices, came in at 2.3% in July, the same level as during the previous two months, Friday’s data showed.The closely watched services print meanwhile eased to 3.1%…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailSquawk Box EuropeCNBC’s Karen Gilchrist discusses strong second-quarter results for British Airways-owner IAG, and the wider outlook for the travel sector.02:20an hour agoKaren Gilchrist Source link
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading. Source link
Another day, another deadline and another trade curveball from U.S. President Donald Trump just before the buzzer.The tariff deadline was set for August 1. Markets were watching. Countries were calculating. And then, right before midnight, came another announcement: 40% tariffs on transshipped goods, new rates for dozens of nations, and yet another reshuffling of Trump’s trade playbook. All set to begin next week.If this feels familiar, it’s because it is.We’ve seen this before. In April, Trump stunned global markets with a blanket 10% tariff hike, followed by a pause, and then a partial reinstatement. The July 9 restart was delayed at the last minute…
Hiring is expected to show a sharp slowdown in July, even as Federal Reserve policymakers insist the labor market is still in solid shape. Nonfarm payrolls likely grew by just 100,000 for the month, according to a Dow Jones consensus estimate. That would be the lowest gain since October 2024. Payrolls rose 147,000 in June and averaged 130,000 a month in the first half of the year. The unemployment rate also is expected to nudge up to 4.2% when the Bureau of Labor Statistics releases the report Friday at 8:30 a.m. ET. If the estimates are correct, it will reinforce…
Nintendo Co. Switch 2 game consoles at a Bic Camera Inc. electronics store in Tokyo, Japan, on Thursday, June 5, 2025. Nintendo Co. fans from Tokyo to Manhattan stood in line for hours to be among the first to get a Switch 2, fueling one of the biggest global gadget debuts since the iPhone launches of yesteryear. Kiyoshi Ota | Bloomberg | Getty ImagesNintendo more than doubled revenue in its fiscal first quarter, as the company logged bumper sales of its Switch 2 console in the first month of release.Sales of Nintendo’s Switch 2 now total 5.82 million units, the…
Key PointsBritain’s top court is poised to deliver a highly anticipated judgment on the country’s multi-billion-pound car finance debacle.The crisis has drawn comparisons to Britain’s Payment Protection Insurance scandal, which was estimated to have cost lenders more than £50 billion ($66.1 billion).Notably, analysts at RBC Capital Markets slashed their estimates for how much the scandal could end up costing lenders.The U.K.’s Supreme Court is poised to deliver a long-awaited judgment on the country’s multi-billion-pound car finance scandal , one which could have major ramifications across the British economy. Britain’s top court is set to hand down its ruling on motor finance…
Swiss government seeks ‘negotiated solution’ to new tariffsSwitzerland is assessing the new situation after it was hit with a new 39% tariff rate under U.S. President Donald Trump’s updated trade regime, the Federal Council said on the X social media platform. “The Federal Council notes with great regret that, despite the progress made in bilateral talks and Switzerland’s very constructive stance from the outset, the US intends to impose unilateral additional tariffs on imports from Switzerland,” it noted.The council added that it remains in contact with Washington and will continue pursuing a “negotiated solution.”— Ruxandra IordacheHow Asian countries have reacted…
