Several major banks and financial institutions are stepping up their experiments with tokenizing stock shares and investment funds on blockchains, the digital ledgers that are said to be tamper-proof.
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JAPAN’S INFLATION RATE RISES TO 27-MONTH HIGH
In April, Japan’s core inflation rate reached 3.5 percent, its highest since January 2023, as rice prices shot to record heights across the country.
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INFLATION RETURNS TO THE U.K.
In April, Britain’s consumer prices rose 3.5 percent, year on year, compared to 2.6 percent in March, posting the highest rate since January 2024 and the sharpest monthly increase since October 2022.
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CHINA BOOSTS DIRECT INVESTMENT IN EUROPE
In 2024, China increased its investment in Europe for the first time in seven years, putting about €10 billion into a range of electric vehicle (EV) plants and battery factories in Hungary.
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BUSINESS ACTIVITY SLUMPS IN EUROPE AND JAPAN
This month, business activity has fallen in Europe and Japan to a 17-month low, due in part to Donald Trump’s tariffs and the continued uncertainty surrounding them, The Wall Street Journal reported.
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U.S. “THROWS IN THE TOWEL” ON SHIFT TO CLEAN ENERGY, PODESTA SAYS
Donald Trump’s “big beautiful” tax and spending bill just passed by the U.S. House of Representatives guts clean energy incentives for businesses and households and ends them sooner, analysts say.
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‘BYE, ABE. U.S. TREASURY WILL STOP MAKING PENNIES
The U.S. treasury will make no more pennies after it uses up the final batch of blank disks it ordered this month.
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LOANS TO NON-BANK FINANCIAL INSTITUTIONS SPARK CONCERNS
U.S. banks are loaning more and more money to private credit lenders and private equity firms that can use the money for high-risk or speculative investments, leading regulators to worry about the growing tie between the two sectors.
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U.S. HOME SALES SLOWED AGAIN IN APRIL
In April, sales of existing homes slipped 0.5 percent from March to four million units, marking the slowest April since 2009 when the Great Recession was underway, the National Association of Realtors (NAR) reported. April’s result was 2 percent below that in April 2024.
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HOW WILL THE BALLOONING U.S. DEFICIT AFFECT YOU?
The “big beautiful” tax cut proposal working its way through Congress will give U.S. households more money, although anywhere from 60 to more than 80 percent will flow to the richest 1 percent of Americans, various analysts have estimated.