Crypto poses no big risk to economy so far, Bank of Canada official says

Crypto poses no big risk to economy so far, Bank of Canada official says

Cryptocurrencies like Bitcoin (BTC) do not pose any significant risk to the financial system at their current level of adoption, according to Bank of Canada deputy governor Paul Beaudry.Beaudry spoke about the risks to the stability of the Canadian financial system at the Ontario Securities Commission Dialogue 2021 on Tuesda.When asked whether cryptocurrencies are a … Read more

UK economy begins to emerge from Covid but old problems remain | UK unemployment and employment statistics

After a bruising couple of weeks, the government was in need of some good news and that was provided by the latest jobless figures. Fears that the end of the furlough scheme would lead to rising unemployment have proved groundless.It is, of course, early days. There are still only flash estimates of what happened in … Read more

Latest news updates: Thailand’s economy returns to contraction after Covid-19 outbreaks

Latest news updates: Thailand’s economy returns to contraction after Covid-19 outbreaks

Thailand’s economy shrank in the three months to September 30, after outbreaks of Covid-19 led to business lockdowns across the country, including in Bangkok, damping tourism and other services activity.Quarterly gross domestic product shrank 0.3 per cent year-on-year, according to data released by the Office of the National Economic and Social Development Council on Monday. … Read more

Japan’s economy seen back in decline on COVID-19, supply issues – Reuters poll

Japan's economy seen back in decline on COVID-19, supply issues - Reuters poll

People cross a street in Tokyo March 18, 2015. . REUTERS/Yuya Shino TOKYO, Nov 11 (Reuters) – Japan’s economy likely contracted in the third quarter as curbs to stop a coronavirus resurgence and supply bottlenecks hurt consumption and output, a Reuters poll of economists showed on Thursday.The forecast was in sharp contrast to the previous … Read more

HSBC profits rise 74% as economy rebounds from Covid crisis | HSBC

HSBC’s profits rose 74% in the third quarter as improving economic conditions allowed the bank to release hundreds of millions of pounds originally set aside for a potential jump in loan defaults during the pandemic.The London-headquartered bank said pretax profits rose to $5.4bn (£3.9bn) in the three months to 30 September, up from $3.1bn a … Read more