Business

U.S. mortgage rates rise to 6.29%, highest in 14 years

U.S. 30-year fixed-rate mortgages rose to 6.29% on Thursday, the highest level since 2008, according to Freddie Mac’s mortgage market survey. Last week, rates averaged 6.02%. A year ago, home buyers enjoyed rates of 2.88%. The Federal Reserve’s aggressive monetary policy tightening, including a 75 basis point hike announced on Wednesday, has weakened the housing […]

Business

Sabadell in talks with Worldline, Nexi and Fiserv for payments deal

Spanish bank Sabadell (SABE.MC) has received indicative bids from France’s Worldline (WLN.PA), Italy’s Nexi (NEXII.MI) and U.S. firm Fiserv (FISV.O) for its payments arm, with a deal valued at up to 400 million euros ($394 million), three sources said. Sabadell received the non-binding offers last week and is expected to shortlist a group of final […]

Business

What crisis? High-stakes crypto lending looks here to stay

On May 11, Scott Odell, an analyst at British crypto lender Blockchain.com, instant messaged Edward Zhao of Three Arrows Capital asking that the Singapore hedge fund repay at least part of a $270 million loan. Three Arrows had just taken a hit from the collapse of cryptocurrency Terra, raising doubts about its ability to repay. […]

Business

Peaks, valleys and milestones

A look at the day ahead in Asian markets from Lewis Krauskopf A feverish week of central bank activity around the globe has left markets at extremes. Currency prices were rattled after Japan intervened in the foreign exchange market to buy yen for the first time since 1998. The yen surged against the dollar after […]

Business

Yen spikes after Japan intervention, stocks slump

The yen spiked higher on Thursday after the Federal Reserve’s strong stance on rates the day before roiled the outlook for bonds and stocks while forcing Japan to intervene in FX markets to support its currency for the first time since 1998. The dollar slid after surging to fresh two-decade highs following the fed’s raising […]

Business

Sustainable fuel startup Air Company to sell to JetBlue, Virgin Atlantic

Sustainable fuel startup Air Company has multi-year agreements to sell jet fuel made from captured carbon emissions to carriers JetBlue Airways Corp (JBLU.O) and Britain’s Virgin Atlantic, the companies said on Thursday. Financial terms were not disclosed. Under the memoranda of understanding, JetBlue will buy 25 million gallons of Air Company’s sustainable aviation fuel (SAF) […]

Business

U.S. flight cancellations fell in July but complaints remained high

U.S. passenger airline flight cancellations in July fell to 1.8% from 3.1% in June, although air travel service complaints rose 16.5%, the U.S. Transportation Department said on Thursday. The Transportation Department has been pressing airlines to improve service and boost staffing as summer travel woes snarled tens of thousands of flights. Airlines say Federal Aviation […]