European markets close higher as tech stocks jump nearly 5%; euro zone PMI data shows improved economic activity
European markets closed higher Wednesday as preliminary purchasing managers’ index data showed improved activity in the euro zone in January.
North Korea crypto hacking activity soars to record high in 2023, new report shows
North Korea-linked hackers attacked a record number of crypto platforms in 2023, according to Chainalysis in its latest report on Wednesday.
Argentina’s shock peso devaluation weighs on sportswear brand Puma
The company said it would have seen a significantly better performance without Argentine President Javier Milei’s currency devaluation.
A nationwide strike in Argentina poses major test to Milei’s economic ‘shock therapy’
The strike comes just 45 days after the right-wing leader took office, making it the fastest action of its kind into the term of a new Argentina government.
India’s Zee Entertainment urges Sony to restore blockbuster merger, sues over termination
Sony earlier this week called of the transaction with Zee Entertainment, which is reported to be worth $10 billion.
European Central Bank set to hold rates as market debates cut timeline
Economists are divided, with some seeing a policy pivot starting in April and rate cuts of 150 basis points this year.
Israel-Hamas war negotiations reportedly working toward a weekslong cease-fire
The reports come amid devastating Israeli bombardment of Gaza and what has so far been an impasse in talks.
German regulator urges banks to set aside bumper profits for bad news on the horizon
Banks should be setting aside this year’s bumper profits to provision for clients defaulting on loans, says BaFin President Mark Branson.
SAP shares surge to all-time high after results, plans to restructure 8,000 jobs in push to AI
Shares of German software company SAP jumped Wednesday after it announced plans to restructure the jobs of 8,000 staff in a push toward artificial intelligence.
China’s central bank announces policy easing as it seeks to boost growth
China pledged to reduce the amount of liquidity that its banks are required to hold as reserves early next month in its bid to boost its struggling economy.
