Good morning. US labour market data came in hot again yesterday, in the form of ADP payrolls, and this time the stock market took notice. Meanwhile, depositors in Silvergate, a crypto-focused bank, withdrew $8.1bn in the fourth quarter. And you know what? Silvergate had the…

Talking to leaders these days in any walk of life, I have a sense that people are frozen. They see that inflation is back in a serious way for the first time in decades, forcing central banks to raise interest rates at the fastest pace…

The chief executive of one of Europe’s biggest oil and gas companies has said the EU should look to Africa rather than the US as it seeks to replace Russian energy imports.Claudio Descalzi, who has run Italy’s Eni since 2014, said closer collaboration with countries…

China is changing its tactics on the renminbi, according to analysts and traders, with a shift away from direct intervention and towards lower-profile, indirect tools to steer the market.The currency dropped almost 8 per cent last year against the soaring dollar. But Beijing smoothed out…

Wall Street’s benchmark S&P 500 lost 1.2% on Thursday, while the tech-heavy Nasdaq Composite fell 1.5%, erasing small gains registered in the previous session © Courtney Crow/New York Stock Exchange/AP US stocks and Treasuries slipped on Thursday, while the dollar strengthened, after a stronger than…

A former BlackRock portfolio manager has paid $250,000 to settle claims that he failed to disclose that a film company in which one of the asset-manager’s funds invested had helped his daughter land a small acting role.The Securities and Exchange Commission alleged that while working…