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  • Dec 17, 2024

As bitcoin soars, luxury brands consider accepting crypto payments

Bitcoin’s soaring value has caught the attention of high-end fashion brands and retailers, prompting further interest in offering cryptocurrencies as a means of payment to tap in to fresh pockets of wealth and build loyalty with crypto investors. Until recently, only a handful of luxury brands including LVMH watch labels Hublot and Tag Heuer as well as Kering-owned fashion brands Gucci and Balenciaga have experimented with crypto payment offers. In recent weeks, upscale French luxury department store Printemps announced it was teaming up with the world's largest crypto exchange, Binance, and French financial tech company Lyzi to accept cryptocurrencies including bitcoin and ethereum in its stores in France - becoming the first European department store to do so.

  • Dec 17, 2024

Trump Trade Comes to Europe, Giving Jolt to Cheap Hungary Market

(Bloomberg) -- There is arguably no leader in all of Europe who’s more chummy, or ideologically aligned, with Donald Trump than Hungary’s Viktor Orban.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousWhich goes a long way to explaining why at a time when the mood is markedly glum across European financial markets, there is a sense of optimism in Budapest. Here, investors aren’t fretting so much about the prospect of new Trump tariffs or NATO-funding feuds —

  • Dec 17, 2024

Morning Bid: Fed looms and Europe gets inflation data

As a host of major central banks hold policy meetings over the next 24 hours, the U.S. Federal Reserve hogs the spotlight but it could be the Bank of Japan that surprises markets. The Bank of England (BoE), Bank of Japan (BOJ), Norges Bank and Sweden's Riksbank announce rate decisions on Thursday, hours after the Fed's announcement on Wednesday. Pricing in Japan implies a 20% chance of a rate hike - but that higher rates are a matter of time with more than 40 bps of hikes priced in by the end of 2025.

  • Dec 17, 2024

Bank of Korea says 'low-inflation' era not coming in the next year or two

South Korea's central bank will maintain its inflation target of 2% until the next policy review, as the era of "low-inflation" is unlikely to come in a year or two, the bank's governor said on Wednesday. "The Bank of Korea (BOK), through consultation with the government, has decided to maintain the current price stability target of 2% until the next review," Governor Rhee Chang-yong said. The central bank will continue to assess if there is any need for improvements in its inflation-targeting system, Rhee said at a press conference held after a bi-annual review of the bank's inflation-targeting monetary policy.

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