Tag Archives: uk

UK Charts: Fire Emblem Engage Bags Franchise’s Second Biggest Boxed Launch

Image: Nintendo

Well folks, it’s happened: FIFA 23 has finally been knocked off its throne by none other than Fire Emblem Engage, the latest entry in the tactical RPG franchise from Intelligent Systems.

Its debut marks the second biggest launch in the series to date, coming in ahead of the 3DS fan-favourite Fire Emblem: Awakening, but behind its Switch predecessor Fire Emblem: Three Houses. According to GamesIndustry.biz, Engage’s boxed sales were 31% lower than Three Houses, but obviously keep in mind that digital sales – for which Nintendo doesn’t provide figures – have made considerable strides since 2019.

Elsewhere, we’ve got the usual big-hitters from Nintendo, including the likes of Mario Kart 8 Deluxe, Pokémon Scarlet and Violet, and Nintendo Switch Sports. Looking at third-party titles, Mario + Rabbids Kingdom Battle enjoyed a 104% sales boost to come in at number twelve, jumping up nineteen spots from last week due to a significant discount at outlets such as Amazon and Argos. Its successor, Mario + Rabbids Sparks of Hope, is sadly nowhere to be seen.

Let’s take a look at the top ten:

Last Week This Week Game

1 Fire Emblem Engage

1

2

FIFA 23

2

3 God of War Ragnarok

4

4 Mario Kart 8 Deluxe

3

5 Call of Duty: Modern Warfare II

6

6 Pokémon Violet

5

7 Nintendo Switch Sports

7

8 Minecraft

8

9 Animal Crossing: New Horizons

9

10 Pokémon Scarlet

[Compiled by GfK]

< Last week's charts

Have you purchased any of the top ten this week? Let us know what you picked up in the comments below!



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Reminder: Nintendo’s Big New Year Sale Ends Soon, Up To 75% Off On Switch eShop (Europe)

Image: Nintendo

Update [Sat 7th Jan, 2023 12:00 GMT]: There’s not much longer left in the New Year Sale on the European eShop! You’ve got until tomorrow, 8th January, to snap up some bargains for your Switch library.

Those of you in North America, don’t fret — you’ve still got a bit longer with your eShop sale. And of course, if you’ve got a NA eShop account, you can have a cheeky look at some of the deals over there…

Happy shopping!


Original article [Thu 29th Dec, 2022 15:30 GMT]: You thought the season of sales was over? When are the sales ever over? Following its Festive Sale, Nintendo has launched its annual New Year sale, where you can get up to 75% off of some absolute corkers from now until 8th January 2023.

We’re talking big games in this year’s sale — Mario Kart 8 Deluxe and The Legend of Zelda: Link’s Awakening are both 33% off, while Persona 5 Royal is also 30% off. What better way to ring in the new year than pouring your life into a 100+ hour RPG?

Before we jump into that, while our mega Christmas sale has ended, you can still snap up some discounted eShop credit to do all of your shopping with. 2023 is going to be a busy one.

Please note that some external links on this page are affiliate links, which means if you click them and make a purchase we may receive a small percentage of the sale. Please read our FTC Disclosure for more information.

Right, back to the sale then. You can check out the full list of games on sale over on Nintendo UK’s website, but we’ve picked out some of the highlights and the biggest cuts below for your ease. Think of this as a teaser. You can tap on the column headers to organise them alphabetically or by price:

You’ve got until 8th January to snap up some bargains and make sure you check out Nintendo UK’s website for the full list of games

Let us know below if you’re tempted by any of Nintendo’s New Year Sale offers.

Editor’s note: We’ve updated this article to remove mention of the eShop Credit sale we had over Christmas, which ended on 31st December. We apologise for the inconvenience.



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UK Charts: Pokémon Scarlet And Violet Enjoy The Second Biggest Franchise Launch Of All Time

Image: Nintendo

The latest boxed charts data is in and, as expected, it’s a big win for the recently released Pokémon Scarlet and Violet, with both entries coming in at number one and two.

In terms of which of the two proved more popular, it seems most opted for Violet and its Legendary Pokémon Miraidon, with this version making up 52% of total sales. Meanwhile, Scarlet made up 42%, and the Dual Pack – containing both games in one handy box – entered the charts at number six, making up the remaining 6% of sales.

Not only that, but as reported by the folks over at GamesIndustry, Pokémon Scarlet and Violet is now the second biggest boxed launch in the franchise’s history, selling 25% more than Pokémon Sword and Shield in its respective first week and sitting pretty behind the current franchise leader Pokémon Sun and Moon. It also managed to sell 56% more than Pokémon Legends: Arceus and a whopping 70% more than Pokémon Brilliant Diamond and Shining Pearl.

In terms of revenue, however, Scarlet and Violet actually brought in more money than Sun and Moon due to the price difference between the two generations. It’s just a suggestion, but perhaps The Pokémon Company can siphon some of that money into a few performance patches, maybe? We’ll see.

Elsewhere, Sonic Frontiers is hanging onto the top ten by a thread, dropping six spots in just one week. Considering three of those are taken up by Pokémon, we don’t think that’s half bad. In terms of sales split, the Switch version is winning out at 40%, followed closely by the PS5 at 32%.

Here’s your look at this week’s top ten in full:

[Compiled by GfK]

< Last week's charts



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Nintendo Launches Huge Black Friday eShop Sale, Up To 75% Off Switch Games (UK)

Image: Nintendo

Update [Thu 17th Nov, 2022 16:05 GMT]: The Switch eShop Black Friday sale teased earlier in the week by Nintendo UK is now live, with up to 75% off a host of Switch games. Some of the big-name titles include Metroid Dread, Xenoblade Chronicles 2, Super Mario Odyssey, Octopath Traveler, and Dragon Quest XI.

Below is a list of just some of the highlights — click on the column headers to sort alphabetically or by price. You might want to consider stocking up on some discounted eShop credit from our store, too (remember to use code BLACKFRIDAY at checkout):

Please note that some external links on this page are affiliate links, which means if you click them and make a purchase we may receive a small percentage of the sale. Please read our FTC Disclosure for more information.


Original story [Tue 15th Nov, 2022 17:15 GMT]: We are still a little way away from Black Friday, 2022 (25th November) though that hasn’t stopped Nintendo UK from getting into the sales spirit as it has today announced that its eShop sale will start this Thursday – 17th November. Yep, nowhere near Black Friday itself.

The announcement came in the form of a tweet from @NintendoUK and it specifies that the sale is for the eShop only – so don’t go expecting any discounts on Mario LEGO just yet.

Of course, while Nintendo has provided the bread of what is sure to be a tasty sales sandwich, it is missing all of the filling. We are still in the dark about which publishers will be getting involved and to what levels the games will be discounted.

Combine this with the fact that we are also currently unsure as to whether any region outside of Europe will be getting a similar early offer and it’s fair to say that we actually know very little for the moment. What we do know is that it is kicking off later this week.

Elsewhere, we heard just a few weeks ago of the sales plans for My Nintendo Store US, which will be offering discounts on boxed games and merchandise alike. There is currently no word on what will be going on with the eShop during the period, but you’ll be able to find out all of the pre-sale day information for both the US and the UK in our handy guide soon.

What are you hoping to see in the Black Friday eShop Sale? Let us know your wish list in the comments below!



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Banking giants and New York Fed start 12-week digital dollar pilot

NEW YORK, Nov 15 (Reuters) – Global banking giants are starting a 12-week digital dollar pilot with the Federal Reserve Bank of New York, the participants announced on Tuesday.

Citigroup Inc , HSBC Holdings Plc (HSBA.L), Mastercard Inc (MA.N) and Wells Fargo & Co (WFC.N) are among the financial companies participating in the experiment alongside the New York Fed’s innovation center, they said in a statement. The project, which is called the regulated liability network, will be conducted in a test environment and use simulated data, the New York Fed said.

The pilot will test how banks using digital dollar tokens in a common database can help speed up payments.

Earlier this month, Michelle Neal, head of the New York Fed’s market’s group, said it sees promise in using a central bank digital dollar to speed up settlement time in currency markets.

Reporting by Lananh Nguyen; Editing by Chizu Nomiyama

Our Standards: The Thomson Reuters Trust Principles.

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Biden and Xi to meet ahead of G20

NUSA DUA, Indonesia, Nov 14 (Reuters) – Chinese leader Xi Jinping will arrive on the Indonesian island of Bali on Monday for a long-awaited meeting with U.S. President Joe Biden, ahead of a Group of 20 (G20) summit set to be fraught with tension over Russia’s invasion of Ukraine.

The two leaders are expected to discuss Taiwan, Ukraine and North Korea’s nuclear ambitions, issues that will also loom over the G20 that opens on Tuesday without Russian President Vladimir Putin in attendance.

Billionaire Elon Musk, the CEO of Tesla Inc (TSLA.O) and Twitter Inc, addressed a business forum that is part of the summit and said he had “too much work” on his plate.

Speaking by videolink, he appeared lit by candles, wearing a batik shirt sent by the organisers. He said he was speaking from a place that had just lost power.

Foreign Minister Sergei Lavrov will represent the Russian president at the G20 summit – the first since Russia invaded Ukraine in February – after the Kremlin said Putin was too busy to attend.

On the eve of Monday’s meeting with Xi, Biden told Asian leaders in Cambodia that U.S. communication lines with China would stay open to prevent conflict, with tough talks almost certain in the days ahead.

The United States would “compete vigorously” with China while “ensuring competition does not veer into conflict”, said Biden, stressing the importance of peace in the Taiwan Strait during an address to the East Asia Summit in Cambodia. He arrived in Bali on Sunday night.

Relations between the superpowers have sunk to their lowest in decades, marred by growing tensions in recent years over a host of issues ranging from Hong Kong and Taiwan to the South China Sea, trade practices and U.S. restrictions on Chinese technology.

But U.S. officials said there have been quiet efforts by both Beijing and Washington over the past two months to repair ties.

“These meetings do not take place in isolation, they are part of a very sustained process,” said one Biden administration official. “We have engaged in serious, sustained – dozens and dozens of hours – of quiet diplomacy behind the scenes.

“I think we are satisfied with the seriousness that both sides have brought to that process.”

Biden and Xi, who have held five phone or video calls since Biden became president in January 2021, last met in person during the Obama administration when Biden was vice president.

Monday’s face-to-face meeting will be at The Mulia, a luxury beachside hotel on Nusa Dua bay in Bali. It is unlikely to produce a joint statement, the White House has said, but it could help stabilise the bilateral relationship.

Both leaders will attend the opening of the G20 summit on Tuesday.

‘SOME DISCOMFORT’

One of the main topics at the G20 will be Russia’s war in Ukraine and Biden will be “unapologetic” in his defence of the European nation, U.S. officials said last week.

Xi and Putin have grown increasingly close in recent years, bound by their shared distrust of the West, and reaffirmed their partnership just days before Russia invaded Ukraine. But China has been careful not to provide any direct material support that could trigger Western sanctions against it.

Chinese Premier Li Keqiang emphasised the “irresponsibility” of nuclear threats during the summit in Cambodia, suggesting China was uncomfortable with strategic partner Russia’s nuclear rhetoric, the Biden administration official said.

The West has accused Russia of making irresponsible statements on the possible use of nuclear weapons since its February invasion of Ukraine. Russia has in turn accused the West of “provocative” nuclear rhetoric.

“There have been areas where China and Russia have worked together to deepen and broaden their relationship economically,” said the U.S. official. “But on some of these big issues, I think there is undeniably some discomfort in Beijing about what we’ve seen in terms of reckless rhetoric and activity on the part of Russia.”

Russia’s Lavrov said on Sunday the West was “militarising” Southeast Asia in a bid to contain Russian and Chinese interests, setting the stage for more confrontation with Western leaders at the G20.

Ukrainian President Volodymyr Zelenskiy has said he will address the G20 gathering by videolink on Tuesday.

British Prime Minister Rishi Sunak is expected to meet Lavrov at the summit, a Downing Street spokesperson said in a statement. He is also likely to hold a bilateral meeting with Biden.

The G20 bloc, which includes a broad array of countries ranging from Brazil to India and Germany, accounts for more than 80% of the world’s gross domestic product (GDP) and 60% of its population.

Australian Prime Minister Anthony Albanese is due to join Indonesian President Joko Widodo to address the parallel B20 business forum taking place on Monday ahead of the G20 summit.

Reporting by Nandita Bose, Fransiska Nangoy, Leika Kihara and Simon Lewis in Nusa Dua; Writing by Kay Johnson and Raju Gopalakrishnan; Editing by Ed Davies and Robert Birsel

Our Standards: The Thomson Reuters Trust Principles.

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Nearly half of Meta job cuts were in tech, reorg underway – execs say

OAKLAND, Calif., Nov 11 (Reuters) – Facebook owner Meta Platforms (META.O) told employees on Friday that it would stop developing smart displays and smartwatches and that nearly half of the 11,000 jobs it eliminated this week in an unprecedented cost-cutting move were technology roles.

Speaking during an employee townhall meeting heard by Reuters, Meta executives also said they were reorganizing parts of the company, combining a voice and video calling unit with other messaging teams and setting up a new division, Family Foundations, focused on tough engineering problems.

The executives said that the first mass layoff in the social media company’s 18-year history affected staffers at every level and on every team, including individuals with high performance ratings.

Overall, 54% of those laid off were in business positions and the rest were in technology roles, Meta human resources chief Lori Goler said. Meta’s recruiting team was cut nearly in half, she said.

The executives said further rounds of job cuts were not expected. But other expenses would have to be cut, they said, noting reviews underway about contractors, real estate, computing infrastructure and various products.

SMART DEVICES CUT

Chief Technology Officer Andrew Bosworth, who runs the metaverse-oriented Reality Labs division, told staffers Meta would end its work on Portal smart display devices and on its smartwatches.

Meta had decided earlier this year to stop marketing Portal devices, known for their video calling capabilities, to consumers and focus instead on business sales, Bosworth said.

As the economy declined, executives decided more recently to make “bigger changes,” he said.

“It was just going to take so long, and take so much investment to get into the enterprise segment, it felt like the wrong way to invest your time and money,” said Bosworth.

Portal had not been a major revenue generator and drew privacy concerns from potential users. Meta had yet to unveil any smartwatches.

Bosworth said the smartwatch unit would focus instead on augmented reality glasses. More than half of the total investment in Reality Labs was going to augmented reality, he added.

Chief Executive Officer Mark Zuckerberg on Friday reiterated his apology from Wednesday about having to cut 13% of the workforce, telling employees he had failed to forecast Meta’s first dropoff in revenue.

Meta aggressively hired during the pandemic amid a surge in social media usage by stuck-at-home consumers. But business suffered this year as advertisers and consumers pulled the plug on spending in the face of soaring costs and rapidly rising interest rates.

The company also faced increased competition from TikTok and lost access to valuable user data that powered its ad targeting systems after Apple made privacy-oriented changes to its operating system.

“Revenue trends are just a lot lower than what I predicted. Again, I got this wrong. It was a big mistake in planning for the company. I take responsibility for it,” Zuckerberg said.

Going forward, he added, he was not planning to “massively” grow headcount of the Reality Labs unit.

Meta shares closed up 1% at $113.02.

Reporting by Paresh Dave in Oakland, California, Katie Paul in Palo Alto, California, Chavi Mehta in Bengaluru; Editing by Aurora Ellis

Our Standards: The Thomson Reuters Trust Principles.

Paresh Dave

Thomson Reuters

San Francisco Bay Area-based tech reporter covering Google and the rest of Alphabet Inc. Joined Reuters in 2017 after four years at the Los Angeles Times focused on the local tech industry.

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UK economy shrinks at start of feared long recession

  • GDP in Q3 -0.2% q/q vs Reuters poll -0.5%
  • Sept economic output -0.6% m/m vs poll -0.4%
  • GDP in July and August revised up
  • Economists still see UK going into recession
  • Finance minister predicts “tough road ahead”

LONDON, Nov 11 (Reuters) – Britain’s economy shrank in the three months to September at the start of what is likely to be a lengthy recession, underscoring the challenge for finance minister Jeremy Hunt as he prepares to raise taxes and cut spending next week.

Economic output shrank by 0.2% in the third quarter, less than the 0.5% contraction analysts had forecast in a Reuters poll, Friday’s official data showed.

But it was the first fall in gross domestic product since the start of 2021, when Britain was still under tight coronavirus restrictions, as households and businesses struggle with a severe cost-of-living crisis.

Britain’s economy is now further below its pre-pandemic size – it is the only Group of Seven economy yet to recover fully from the COVID slump – and is smaller than it was three years ago on a calendar-quarter basis.

The Resolution Foundation think tank said that although the fall was smaller than investors had feared, it left Britain on course for its fastest return to recession since the mid-1970s.

Its research director James Smith said the figures provided a sobering backdrop for Hunt’s Nov. 17 budget announcement, when he will try to convince investors that Britain can fix its public finances – and its credibility on economic policy – after Liz Truss’s brief spell as prime minister.

“The Chancellor will need to strike a balance between putting the public finances on a sustainable footing, without making the cost-of-living crisis even worse, or hitting already stretched public services,” Smith said.

Responding to the data, Hunt repeated his warnings that tough decisions on tax and spending would be needed.

“I am under no illusion that there is a tough road ahead – one which will require extremely difficult decisions to restore confidence and economic stability,” Hunt said in a statement.

People walk across Millennium Bridge with the City of London financial district seen behind, amid the coronavirus disease (COVID-19) pandemic, in London, Britain, January 20, 2021. REUTERS/Hannah McKay

“But to achieve long-term, sustainable growth, we need to grip inflation, balance the books and get debt falling,” he added. “There is no other way.”

RECESSION REALITY

The Bank of England said last week that Britain’s economy was set to go into a recession that would last two years if interest rates were to rise as much as investors had been pricing.

Even without further rate hikes, the economy would shrink in five of the six quarters until the end of 2023, it said.

“Fears of a recession are turning into reality,” Suren Thiru, economics director for the Institute of Chartered Accountants in England and Wales, said.

“This fall in output is the start of a punishing period as higher inflation, energy bills and interest rates clobber incomes, pushing us into a technical recession from the end of this year.”

In September alone, when the funeral of Queen Elizabeth was marked with a one-off public holiday that shut many businesses, Britain’s economy shrank by 0.6%, the Office for National Statistics said. That was a bigger monthly fall than a median forecast for a 0.4% contraction in the Reuters poll and the largest since January 2021, when there was a COVID-19 lockdown.

But gross domestic product data for August was revised to show a marginal 0.1% contraction compared with an original reading of a 0.3% shrinkage, and GDP in July was now seen as having grown by 0.3%, up from a previous estimate of 0.1%.

The upward revisions to July and August’s GDP data mostly reflected new, quarterly figures on health and education output, alongside some stronger readings from the professional and scientific and wholesale and retail sectors, the ONS said.

Reporting by William Schomberg and David Milliken; Editing by Kate Holton and Catherine Evans

Our Standards: The Thomson Reuters Trust Principles.

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Britain has frozen 18 billion pounds worth of Russian assets

  • Russia passes Libya and Iran as top target of UK sanctions
  • UK says sanctions are hurting Russia’s military
  • Russia ‘using chips in kitchen appliances for tanks’
  • UK government has reported 236 sanction breaches

LONDON, Nov 10 (Reuters) – The British government said on Thursday it had frozen assets worth more than 18 billion pounds ($20.5 billion) held by Russian oligarchs, other individuals and businesses sanctioned over Moscow’s invasion of Ukraine.

Russia has overtaken Libya and Iran to become Britain’s most-sanctioned nation, the Office of Financial Sanctions Implementation (OFSI), part of the finance ministry, said in its annual report.

The frozen Russian assets were 6 billion pounds more than the amount reported across all other British sanctions regimes.

Russian billionaire Roman Abramovich and businessman Mikhail Fridman are among those sanctioned this year, along with President Vladimir Putin, his family and military commanders.

The frozen assets are a combination of shareholdings in companies and cash held in bank accounts. It does not include physical assets such as real estate or assets held in Crown Dependencies such as Guernsey and Jersey.

The government has sanctioned 95% of Russian exports to Britain and all imports of Russian oil and gas will stop by the end of 2022.

“We have imposed the most severe sanctions ever on Russia and it is crippling their war machine,” said Andrew Griffith, a junior government minister in the Treasury in a statement.

“Our message is clear: we will not allow Putin to succeed in this brutal war.”

Britain has so far sanctioned more than 1,200 individuals including high-profile businessmen and prominent politicians and more than 120 entities in Russia.

SANCTIONS HURTING

Britain was the destination for much of the Russian money that flowed into the West in the decades following the Soviet Union’s collapse in 1991.

The European Union, a 27-nation bloc with an economy five times larger, said in July it had frozen 13.8 billion euros ($13.83 billion) of Russian assets over the war in Ukraine.

Western sanctions on Russia mean a depletion of stockpiled parts for the automotive industry, with new cars such as the latest Lada model being produced without airbags or anti-lock brakes, officials said.

Russian aerospace companies are stripping airliners for spare parts and using semiconductors in kitchen appliances in Soviet-era tanks, the officials said, adding that a shortage of ammunition had contributed to Ukraine’s recent battlefield successes.

Longer-term, Russia is suffering a brain drain and a lack of access to critical technologies, with 75% of companies reducing operations and 25% leaving the country entirely, officials said.

While Russian assets are currently only frozen, there are discussions on what options are available to seize them. Western officials say there is a need for large-scale financial help to rebuild Ukraine and a moral case for those responsible for the invasion to contribute to this.

“I think what we would like to do is look at what all the options are, what’s possible, and then take a decision with allies on that,” one official said.

Since Britain began imposing travel bans and asset freezes after Russia invaded Ukraine on Feb. 24, the government has received 236 reports of sanction breaches.

In the first test of Britain’s approach to enforcing sanctions, Russian billionaire Petr Aven is challenging in a London court allegations that he evaded sanctions. He is accused of using money parked in British accounts to fund his lifestyle.

Reporting by Andrew MacAskill and Michael Holden
Editing by Gareth Jones

Our Standards: The Thomson Reuters Trust Principles.

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Asian shares fall ahead of U.S. CPI, crypto worries mount

  • https://tmsnrt.rs/2zpUAr4
  • Dollar stays firm, crypto stokes spillover fears
  • European markets set to open lower
  • China mainland, Hong Kong shares battered by COVID case surge
  • Focus on U.S. inflation for signs of slowdown in Fed rate hike

SYDNEY, Nov 10 (Reuters) – Asian share markets pulled back on Thursday and the dollar held its overnight gains before the big test of a U.S. consumer inflation report, while market sentiment took a dive as the likely collapse of a major crypto exchange spooked investors.

With no final results available from the U.S. mid-term elections, investors were turning to upcoming inflation data later in the day, which is likely to show a slowing in both the monthly and yearly core numbers for October to 0.5% and 6.5%, respectively, according to a Reuters poll.

European markets are set to extend the cautious mood, with the pan-region Euro Stoxx 50 futures down 0.7%. However, U.S. S&P 500 futures edged up 0.2% while the Nasdaq futures rose 0.3%.

MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 1.2%, dragged lower by a 1.0% drop in China’s bluechips (.CSI300) and a 1.8% retreat in Hong Kong’s Hang Seng index (.HSI).

Japan’s Nikkei (.N225) lost 1.0%.

China is again grappling with a COVID surge, with the southern metropolis of Guangzhou reporting thousands of cases. Apple Inc (AAPL.O) supplier Foxconn (2317.TW) plans to update its fourth-quarter outlook on Thursday, after strict COVID curbs remained in place at its major plant in China despite the lifting of a lockdown.

Elsewhere, focus remained squarely on inflation.

“The high probability is we see a number that is fairly in line with expectations – that is obviously harder to call, and we may need to wait for the guidance from Fed speakers in the session ahead to see how they interpret it,” said Chris Weston, head of research at brokerage Pepperstone.

Minneapolis Federal Reserve Bank President Neel Kashkari on Wednesday said it’s “entirely premature” to discuss any pivot away from the Fed’s current policy tightening.

A slew of Fed officials including Board Governor Christopher Waller, Bank of Philadelphia President Patrick Harker, Bank of Dallas President Lorie Logan will be speaking tonight.

The futures market currently showed investors believe the Fed could step down to a 50 basis point hike next month, while the target U.S. federal funds rate could peak around 5.1% by next June.

Overnight on Wall Street, shares ended lower as Republican gains in midterm elections appeared more modest than some had expected. Republicans were still favoured to win control of the House of Representatives but key races were too close to call.

In the crypto world, bitcoin rose 3.6% to $16,443 on Thursday, after tumbling for two straight sessions to its lowest level since late 2020.

Binance, the world’s biggest crypto exchange, said late on Wednesday that it had decided not to acquire smaller rival FTX, which has grappled with a severe liquidity crunch and faced bankruptcy without more capital.

“You can’t deny the growing correlation between bitcoin and risk assets. The FTX news is having an outsized effect on asset prices,” said Stephen Innes, managing partner at SPI Asset Management.

“Bitcoin spillovers are not negligible, and given how widely crypto coins are held, it could mean more forced liquidation of other assets to cover margin calls as long position investors were massively wrong-footed.”

The U.S. dollar on Thursday held onto most of its overnight gains against a basket of currencies.

The sterling gained 0.4% against the greenback to $1.1409, after tumbling 1.6% in the previous session.

U.S. Treasury yields were lower on Thursday.

The yield on benchmark 10-year notes eased 8 basis points to 4.0751% while the yield on two-year notes edged 3 basis points lower to 4.5963%.

In commodities, oil prices trimmed earlier losses on Thursday, after tumbling around 3% in the previous session on fears of demand from China and rising U.S. crude stocks.

U.S. crude oil futures was flat at 0.3% to $85.83 per barrel, while Brent crude futures stabilised at $92.71.

Gold was higher, with the spot price at $1,709.08 per ounce.

Reporting by Stella Qiu; Editing by Bradley Perrett and Sam Holmes

Our Standards: The Thomson Reuters Trust Principles.

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