Zurich to legalize consumption and sale of cannabis on trial basis
Switzerland has approved plans to legalize the sale and consumption of cannabis in Zurich in a trial designed to assess the economic and social benefits of regulating the drug.
Europe’s rush to LNG could turn into ‘world’s most expensive and unnecessary insurance policy’
Several European countries have announced new LNG projects or the expansion to existing ones in response to shutdown of Russian gas pipelines.
Ukraine wants to win China over as Russia’s invasion continues. Some say it shouldn’t bother trying
Analysts say Kyiv could be wasting its time looking to Beijing for support as Russia’s invasion continues into a second year.
Swiss central bank hikes interest rates by 50 basis points despite Credit Suisse turmoil
The Swiss central bank has increased rates by 50 basis points, taking its policy rate to 1.5%.
Swiss regulator defends controversial $17 billion writedown of Credit Suisse bonds
Swiss regulator FINMA on Thursday defended its decision to instruct Credit Suisse to write down its AT1 bonds — a controversial part of the lender’s emergency sale to UBS.
China will make up nearly 40% of the rise in global oil demand in 2023, Wood Mackenzie says
The research firm said in a report it views China’s reopening as the “single biggest demand driver” for a recovery in oil demand this year.
European lawmakers are quietly miffed at U.S. regulators over SVB’s collapse
Regulators and officials across the European Union have been nervous about potential contagion to their own banking sector.
CNBC Daily Open: Jerome Powell flipped the script
The Federal Reserve hiked interest rates by a quarter point, as markets had expected. They didn’t expect Powell’s warnings on the economy.
Tencent’s online ad revenue grows for the first time in more than a year
Chinese tech giant Tencent reported Wednesday better-than-expected quarterly revenue, helped by growth in ads within its growing “video accounts” business.
Is Nvidia’s valuation justified? One bullish fund manager gives two reasons to own the stock
A 100% jump in Nvidia shares in the last six months has led some to question its extraordinary valuation, but one fund manager continues to back the stock.
