Business

(Reuters) —  Visa Inc said on Monday it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the mainstream financial industry. The company told Reuters it had launched the pilot program with …

NEW YORK (Reuters) — U.S. stock index futures pointed to a lower open for Wall Street on Monday after a surge in the previous session, as global banks said they faced potential losses from a hedge fund’s default on margin calls. Nomura and Credit Suisse warned of losses after the U.S. hedge fund, n…

WASHINGTON (Reuters) — Amazon.com’s social media team bared its teeth this week to go after two big critics in Congress: Sens. Bernie Sanders and Elizabeth Warren. Amazon first struck out Wednesday with tweets by Dave Clark, chief executive of Amazon’s worldwide consumer business, who criticized Sa…

BEIJING (Reuters) — At least three Chinese celebrities on Saturday dropped German fashion house Hugo Boss, the latest foreign brand caught in a concerted boycott by Chinese consumers over Western accusations of forced labor in Xinjiang. Among the celebrities who ended their pacts with Hugo Boss was…

CAIRO (Reuters) —  Dredging and tugging aimed at freeing a mega vessel stuck in the Suez Canal failed on Friday to end a blockage that has lifted shipping rates for fuel tankers and scrambled global supply chains for everything from grains to baby clothes. President Joe Biden said his administratio…

BEIJING (Reuters) — Anger with Nike Inc erupted on Chinese social media late on Wednesday after China’s netizens spotted a statement from the sporting goods giant saying it was “concerned” about reports of forced labor in Xinjiang and that it does not use cotton from the region. Topics around the N…

NEW YORK (Reuters) —  A U.S. government plan to upgrade the nation’s infrastructure could further fuel the stock market’s rally, but skepticism about a massive spending package navigating political obstacles and the speed of any benefits filtering into the economy stand to temper any enthusiasm. A …

MANILA (Reuters) — The Philippine central bank has the scope to maintain monetary policy support for the country’s economy, but is on guard against “second-round effects” that could push inflation higher, its governor said on Wednesday. In remarks ahead of the central bank’s policy meeting on Thurs…

(Reuters) —  Tesla Inc customers can now buy its electric vehicles with bitcoin, its boss, Elon Musk, said on Wednesday, marking a significant step forward for the cryptocurrency’s use in commerce. “You can now buy a Tesla with bitcoin,” Musk said on Twitter, adding that the option would be availab…

FRANKFURT (Reuters) — Central banks need to fight climate change but all policy options on the table come with costly drawbacks, so action needs to be gradual and cautious, an umbrella group of the world’s top central banks and supervisors said on Wednesday. With climate change posing a growing ris…