European markets sluggish as global economic anxiety grows

By midmorning, the pan-European Stoxx 600 was down 0.2%, with telecoms down 1.2% and oil and gas up 0.8%.

Next week, the Fed may raise interest rates by 50 basis points. Investors are worried whether the central bank can avoid a recession next year in its attempt to tame inflation.

Wall Street assessed the prospect of a slump as S&P 500 futures fell for a sixth straight day.

Asia-Pacific sentiment improved overnight. Hong Kong's Hang Seng index jumped more than 3% on Thursday after a local news outlet said the city may ease Covid restrictions, including dropping its outside mask rule and eliminating mandatory arrival testing. Most other regional markets fell slightly.

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Hal Finney's wife talks about a Bitcoin charity event

She said that the goal of the event is to raise money to help people with ALS. Hal Finney's wife, Fran Finney, has planned a charity event to help people with amyotrophic lateral sclerosis (ALS). Finney talked about the event on Twitter and told Bitcoin users that they should run a half marathon and post about it on social media between January 1 and January 10, 2023, to help raise money to fight the disease. Fran Finney sent out the news through Hal Finney's official Twitter account. She had previously reactivated the account to keep it from being deleted when Twitter got rid of old accounts. "Running Bitcoin" is being held with the help of the ALS Association Golden West Chapter. It was named after Hal Finney's first Bitcoin tweet, which was sent just a few days after Bitcoin went live in 2009. On its website, the organization says that it helps people with ALS by giving them loans of equipment and educational materials. The charity said that it wants to use the...

In response to customer abuses, Wells Fargo and the CFPB reach a $3.7 billion settlement.

With regard to checking accounts, mortgages, and auto loans, Wells Fargo and the Consumer Financial Protection Bureau reached a $3.7 billion settlement. Some of the misbehavior occurred as recently as this year. The CFPB announced in a statement that the business was compelled to pay an unprecedented $1.7 billion civil penalty as well as more than $2 billion to customers with 16 million accounts. Many of the "necessary activities" connected to the settlement, according to the San Francisco-based bank, have already been finished, it was stated in a separate statement. In its statement, the government stated that the bank's illegal actions caused its customers to suffer financial losses totaling billions of dollars and, for many of them, the loss of their homes and vehicles. Consumers' auto and mortgage loan fees and interest rates were improperly assessed, their vehicles were wrongfully repossessed, and the bank misapplied its customers' payments to their loans. Th...

Dollar rises to a five-week high on Fed hawkishness ahead of Jackson Hole.

The US dollar index rose to a new five-week high on Monday after another Federal Reserve official signaled that aggressive monetary tightening would likely continue ahead of the central bank's key Jackson Hole symposium this week. After Russia announced a three-day halt to European gas supplies via the Nord Stream 1 pipeline at the end of this month, the euro fell to a new five-week low, exacerbating the region's energy crisis. China's yuan fell to its lowest level in nearly two years after the central bank cut key lending rates, adding to a slew of monetary easing measures aimed at bolstering an economy battered by COVID-19 restrictions and a property crisis. The US dollar index, which compares the greenback to six rival currencies, including the euro, rose to 108.26 for the first time since July 15 and was last up 0.074% at 108.23. This comes after a 2.33% gain last week, its best weekly gain since April 2020, amid a chorus of Fed policymakers emphasizing the importance ...

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