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Hong Kong maintained its position as the world’s most expensive city for expatriates in 2024, according to Mercer.Chun-Yip Wong | E+ | Getty ImagesAsia’s major financial hub once again took the top spot as the most expensive city to live in for foreign workers, according to Mercer. According to the 2024 Cost of Living Cities Rankings, Hong Kong was ranked as the most expensive city to live in for expats, followed by Singapore and Zurich.The Swiss cities of Zurich, Geneva, Basel and Bern ranked four out of 10. New York City came in seventh.The top five remained unchanged from last…

Zoom in icon outward pointing arrowsMerck’s new pneumococcal vaccine. Courtesy of MerckThe Food and Drug Administration on Monday MerckThe new vaccine is designed to protect adults against a bacteria called pneumococcus, which can cause serious illness and a lung infection called pneumonia, according to the drug company.Merck’s vaccine, called Capvaxiv, specifically protects against 21 strains of the bacteria to prevent severe pneumococcal disease that can spread to other parts of the body and cause pneumonia. The company says it is the first pneumococcal conjugate vaccine designed specifically for adults, and aims to offer broader protection than vaccines currently on the…

The Nvidia Corporation logo is displayed at the annual Computex computer trade show in Taipei, Taiwan, on May 30, 2017.Tyrone Siu | ReutersNVIDIAThe surge in shares will force big technology exchange-traded funds to make deep cuts to their holdings of the semiconductor giant, as they acquire more than $10 billion in shares. apple.The index is Technology Select Sector SPDR Fund (XLK) The following stocks will be rebalanced immediately based on their market capitalizations adjusted from Friday’s closing prices: Microsoft According to Matthew Bartolini, head of SPDR Americas Research, the top stock on the index is Apple, followed by Nvidia and…

A look at companies making waves in midday trading: Virgin Galactic — The struggling space company’s shares fell 15% after a 20-for-1 reverse stock split went into effect. The company was trying to restore its stock price to above $1 per share after a steady decline over the past three years. Virgin Galactic suspended its spaceflight operations this year to focus resources on developing its next-generation Delta-class spacecraft. AMC Networks — The cable television network’s shares plunged more than 30% after it announced plans to sell $125 million in convertible notes due 2029 in a private offering to institutional investors.…

Please note that our Privacy Policy, Terms of Use, Cookies, and Do Not Sell My Personal Information have been updated.CoinDesk is an award-winning media outlet covering the cryptocurrency industry. Its journalists adhere to strict editorial policies. In November 2023, CoinDesk was acquired by Bullish Group, owner of Bullish, a regulated digital asset exchange. Bullish Group is majority owned by Block.one, and both companies have interests in various blockchain and digital asset businesses and hold significant amounts of digital assets, including Bitcoin. CoinDesk operates as an independent subsidiary with an editorial board to protect the independence of its journalism. CoinDesk employees,…

Cryptocurrency company Paxos has laid off 65 employees, or roughly 20% of its workforce, CEO Chad Cascarilla told employees in an email seen by The Block last week. The move will “allow us to take full advantage of the huge opportunities in tokenization and the future of stablecoins,” Cascarilla wrote. “Stablecoins will grow tenfold over the next few years and serve as a fulcrum for opening up the financial system through tokenization,” he wrote. “We will continue to remain focused on our core services and deprioritize adjacent services.” With this move, Paxos plans to phase out its commodities and securities…

Jindal Stainless on Monday said it has acquired the remaining 46 per cent stake in Chromeni Steels Private Limited (CSPL) for Rs 2,780 crore, which will make CSPL a wholly owned subsidiary of the company with effect from June 15, 2024, Jindal Stainless Limited (JSL) said in a statement. “Jindal Stainless will acquire the remaining 46% stake in Chromeni Steels Private Ltd. The transaction involves a total outlay of Rs 2,780 crore, including payment for share transfer and repayment of shareholders’ liabilities,” it said. Jindal Stainless had earlier acquired 54% stake in CSPL for Rs 1,340 crore through an indirect…

Major cryptocurrencies fell in the European morning, continuing the subdued mood after the US Federal Reserve lowered its interest rate cut outlook on Wednesday. Bitcoin and Ether both fell about 1% in 24 hours, according to data from CoinDesk Indices. Bitcoin fell to just below $66,000, near the lower end of the $72,000-$65,000 range it has been trading in for the past month, while Ether traded around $3,500. The CoinDesk 20 Index (CD20), a gauge of the broader cryptocurrency market, fell about 1.8%. Markets in many countries are closed for the Muslim festival of Eid al-Adha. Meme coins led the…

Asian stocks were broadly weaker on Monday as mixed economic news from China highlighted the country’s fragile recovery, while political uncertainty in Europe dampened risk appetite and put the euro on the defensive.China’s blue chip stocks fell 0.2 percent after retail sales rose 3.7 percent in May, beating expectations, but industrial production and fixed asset investment both fell short of expectations. Other data showed home prices fell at the fastest pace in a decade in May, highlighting continuing strains in the real estate sector.The People’s Bank of China (PBOC) kept its one-year interest rate unchanged, partially negating expectations of a…

A row of shophouses in the Katong district of Singapore.Olivier Szczanna | Gamma Raffo | Getty ImagesSINGAPORE — The ornate, colorful “shophouses” that line the streets of Singapore’s older districts are not what immediately springs to mind when people think of the city-state.In a country where land is scarce and public housing costs more than $1 million, these two- and three-storey shophouses can cost tens of millions of dollars – but investors are still snapping them up.The shophouses are colonial buildings, some of which were built as early as the 1840s, and are the subject of a government preservation programme.The…