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Retail lost crypto money as whales sold in 2022 crash, report finds

WHEN the Terra ecosystem collapsed last year and again as FTX fell apart, retail investors rushed to buy the big crypto dip. Meanwhile, “whales” were selling en masse — all at the expense of those smaller mom-and-pop traders.

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Bank of Japan board member calls for keeping ultra-easy policy for now

THE Bank of Japan (BOJ) must maintain its ultra-loose monetary policy to allow time to see whether the recent rise in inflation will be accompanied by higher wages, its board member Naoki Tamura said on Wednesday.

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New Zealand delivers half-point rate hike, still sees 5.5 per cent peak

NEW Zealand’s central bank raised interest rates by half a percentage point, slowing its pace of tightening, but signalled further hikes will be needed to tame inflation.

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New Zealand delivers half-point rate hike, still sees 5.5% peak

NEW Zealand’s central bank raised interest rates by half a percentage point, slowing its pace of tightening, but signalled further hikes will be needed to tame inflation.

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No income tax for banks as Indonesia seeks new capital investors

INDONESIA is unveiling a slew of tax breaks to lure companies and people to move to its new capital in the heart of Borneo.

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China removes PICC, Bank of China chairmen from party roles

CHINA abruptly removed the Communist Party chiefs from two of its biggest state-owned financial firms, sparking concerns of a renewed clampdown on the sector.

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Credit Suisse shares hit record low on outflow claims probe

CREDIT Suisse Group slumped to a record low on a report that the chairman is facing a probe over comments he made that the firm had put a stop to huge client outflows after a run of share declines.

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Coinbase posts quarterly loss; revenue falls less than forecast

COINBASE Global, the biggest US cryptocurrency exchange, reported a fourth-quarter revenue decline that was less than forecast by analysts.

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McKinsey plans to eliminate about 2,000 jobs in one of its biggest rounds of cuts

MCKINSEY & Co plans to eliminate about 2,000 jobs, one of the consulting giant’s biggest rounds of cuts ever.

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Euro eases, but robust services data stems losses

THE dollar held near six-week highs on Tuesday (Feb 21), as the euro came under pressure after data showed eurozone manufacturing activity deteriorated this month, although a rebound in the more inflation-sensitive services sector kept losses in check.

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