Myanmar’s junta powerless as currency drops 60% in 4 weeks
MYANMAR’S currency has lost more than 60% of its value since the beginning of September in a collapse that has driven up food and fuel prices in an economy that has tanked since a military coup eight months ago.
China’s regulators tighten scrutiny of FX dealers
SHANGHAI - China’s regulators are tightening control over the inner workings of its currency market, pressuring banks to trade less and in smaller ranges, two banking sources told Reuters, as part of a sweeping push to curb speculation.
China seeks to calm power supply fears as crunch bites
BEIJING China’s all-powerful economic planning agency waded into the country’s power crunch on Wednesday, attempting to reassure residents and businesses in areas hardest hit by shortages that it has the coal use and supply situation under close watch.
Singapore sends vaccines to neighbors as region seeks to reopen
Singapore is contributing vaccines to its neighbors amid a regional effort to reopen its economies.
FDA leans toward authorizing Moderna booster at a half dose
The U.S. Food and Drug Administration is leaning toward authorizing half-dose booster shots of the Moderna Inc. coronavirus vaccine, satisfied that it’s effective in shoring up protection, people familiar with the matter said.
North Korea fires missile, accuses United States of ‘double standards’
SEOUL — North Korea fired a missile towards the sea off its east coast on Tuesday, South Korea’s military said, as Pyongyang called on the United States and South Korea to scrap their “double standards” on weapons programs to restart talks.
Pandemic pushes Chinese tech giants to roll out more courier robots
BEIJING — More than a thousand robots are set to join the delivery personnel ranks of Chinese behemoths Alibaba, Meituan and JD.com over the next year as the pandemic fuels demand for contactless services.
Trading scandal that rocked the Fed offers chance to reshape it
THE RESIGNATION of two Federal Reserve chiefs amid a stock-trading scandal means an unexpected number of top monetary-policy jobs are coming up for grabs — and there’ll likely be an unusually intense spotlight on who fills them.
Senate GOP blocks bill to raise debt limit and avert shutdown
SENATE Republicans blocked a bill that would suspend the debt ceiling into Dec. 2022 and keep the government operating past Sept. 30, forcing Democrats to find a new strategy to address two fast-approaching deadlines with acute economic consequences.
China’s electricity crunch is world’s latest supply-chain threat
China’s energy crisis is shaping up as the latest shock to global supply chains as factories in the world’s biggest exporter are forced to conserve energy by curbing production.
Failed TikTok deal ‘strangest thing I’ve worked on,’ Microsoft CEO says
Microsoft Corp's near-acquisition of social media app TikTok last year was the "strangest thing I've ever worked on," Chief Executive Officer Satya Nadella said...
Unregulated crypto markets will ‘not end well’ — SEC
U.S. cryptocurrency markets and related platforms will “not end well” if they stay outside the purview of regulators, according to Securities and Exchange Commission...