Economy: the news in short stories

Economy · 19 d ago

Diliff · CC BY-SA 3.0 · Wikimedia Commons

Kraken's parent company agrees to buy Lithuania's Saldo Bank

Payward, which owns the crypto exchange Kraken, did not disclose the price. The deal gives it an EU banking licence as it expands from crypto trading into deposits and lending.

Economy · 19 d ago

Berlaymont building, European Commission headquarters, Brussels

KenSwe72 · CC BY 4.0 · Wikimedia Commons

European Commission proposes a one-year delay to EU methane rules for importers

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Importers of oil, gas and coal from outside the EU would have until May 31, 2029, instead of January 2027, to prove their suppliers monitor and report methane emissions to EU standards.

Economy · 19 d ago

Trump administration moves again to halt the Revolution Wind farm

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The U.S. Justice Department filed a motion arguing the Biden administration erred in approving Ørsted's 704-megawatt wind farm off Rhode Island in August 2023. It cites harm to fishing, scientific research and scenery, and asks the court to send the project back for reconsideration.

Economy · 19 d ago

New houses under construction, illustration

Building permits rise $1.1 billion to $13.6 billion in August

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Statistics Canada says the gain came from homebuilding, where permits rose $1.1 billion to $8.5 billion. Non-residential permits stood at $5.1 billion.

Economy · 19 d ago

Circle's USDC becomes the first stablecoin under direct EU supervision

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The European Banking Authority classified USDC as a significant e-money token on Oct 14, under the EU's Markets in Crypto-Assets rules (MiCA). It is the first of the 45 e-money tokens notified under the framework to get the label.

Economy · 19 d ago

Reserve Bank of Australia building, Sydney

Nick-D · CC BY-SA 4.0 · Wikimedia Commons

Australia's unemployment rate rises to 4.7% in September

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The jobless rate rose to 4.7 per cent, its highest since October 2021, with 39,300 jobs lost, the Australian Bureau of Statistics said on Thursday.

Economy · 19 d ago

AEira-WMF · CC BY 4.0 · Wikimedia Commons

Fuel and fertilizer costs climb in Africa as Middle East shipping is disrupted

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Kenya raised pump prices on Oct 15, by about 6 per cent for petrol and 4.5 per cent for diesel, and minibus operators announced fare increases at once.

Economy · 19 d ago

Olnnu · CC BY-SA 3.0 · Wikimedia Commons

EU leaders weigh new trade tools against China

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European leaders met in Brussels on Thursday to discuss the EU's trade imbalance with China, which rose to 360 billion euros last year.