Supreme Court limits EPA authority to set power plant climate standards

The Longview Power Plant, a coal-fired plant, stands on August 21, 2018 in Maidsville, West Virginia. The plant’s single unit generates 700 net megawatts of electricity from run-of-mine coal and natural gas. Spencer Platt | Getty Images The Supreme Court on Thursday limited the Environmental Protection Agency’s authority to set standards on climate-changing greenhouse gas … Read more

North Korea likely behind $100 million Horizon crypto hack: Experts

A photo illustration showing the North Korean flag and a computer hacker. Budrul Chukrut | Soup Images | Lightrocket | Getty Images North Korean state-sponsored hackers were likely the perpetrators of a hack that led to theft of around $100 million in cryptocurrency, according to analysis from blockchain researchers. The hackers targeted Horizon, the so-called … Read more

Unlikely to resume withdrawals Thursday

Embattled cryptocurrency exchange CoinFlex will probably not be able to let customers withdraw money again on Thursday as originally planned, CEO Mark Lamb said on Wednesday. “We will need more time. And it’s unlikely that withdrawals will be re-enabled tomorrow,” Lamb told CNBC. However, CoinFlex is in talks with several large funds interested in buying … Read more

Chinese plans to save hit a record high in Q2; job concerns rise

Education remained the most popular category for Chinese consumer’s planned spending, according to a People’s Bank of China survey in the second quarter of 2022. China News Service | China News Service | Getty Images BEIJING — Chinese consumers’ inclination to save is at its highest in two decades, the People’s Bank of China found … Read more

China PMI data, stocks, currencies, oil

SINGAPORE — Chinese markets rose on Thursday as government data showed factory activity grew in June, but most other Asia-Pacific indexes fell. Mainland China’s markets traded higher. The Shanghai Composite advanced 0.37%, and the Shenzhen Component gained 1%. The Hang Seng index in Hong Kong was up 0.13%. Shares of artificial intelligence software company SenseTime … Read more

China snaps up Russian coal at deep discounts as Ukraine war continues

This photo taken on October 24, 2021 shows coal being loaded on a cargo ship in Jiujiang, in China’s central Jiangxi province. STR | AFP | Getty Images Russia’s coal shipments to China have been rising even though overall shipments to China have declined, new data from S&P Global Market Intelligence showed. Russian seaborne coal … Read more

Crypto hedge fund Three Arrows Capital plunges into liquidation

Billions of dollars of value have been wiped off the cryptocurrency market in the last few weeks. Companies in the industry are feeling the pain. Lending and trading firms are facing the liquidity crisis and many have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Major cryptocurrency hedge fund Three Arrows Capital … Read more

Europe’s plans to replace Russian gas are deemed ‘wildly optimistic’ — and could hammer its economy

A drilling rig at a gas processing facility, operated by Gazprom. Maxim Shemetov | Reuters The European Union’s best shot at replacing Russian gas imports this year is likely to miss the mark, analysts predict, exerting further pressure on the region’s economy. The EU plans to replace two-thirds of Russian gas imports by the end … Read more

Fed’s Mester backs 75 basis point hike in July if conditions remain the same

Cleveland Fed President Loretta Mester takes part in a panel convened to speak about the health of the US economy in New York November 18, 2015. Lucas Jackson | Reuters Federal Reserve Bank of Cleveland President Loretta Mester said Wednesday that if economic conditions remain the same when the US central bank meets to decide … Read more

Stock futures are flat after failed attempt at a rally

Stock futures were flat early on Wednesday after the major averages made a failed attempt at a bounce. Futures tied to the Dow Jones Industrial Average edged up 0.16% or 51 points, while the S&P 500 and the Nasdaq Composite rose 0.17% and 0.19%, respectively. Pinterest shares jumped more than 4% after hours on news … Read more