News in Brief
Bitcoin drops to new two-month low
REUTERS – Top cryptocurrency bitcoin hit a fresh two-month low on Saturday, breaking out of its recent tight range as a wave of risk averse sentiment swept through world markets.
On Thursday, bitcoin fell 7.2% in its biggest one-day drop since November 2022 when top exchange FTX collapsed. It then slipped to a two-month low of $26,172 during Asian trading hours on Friday, its lowest since June 16.
ECB to raise objections to Italy’s windfall tax on banks
CNBC – The European Central Bank (ECB) is preparing to send a letter to Italy raising objections about the government’s windfall tax on banks’ profits, the Corriere della Sera daily wrote.
The letter will criticize the fact Rome announced the tax last week without previously informing either the Bank of Italy or the ECB as it is supposed to do under EU rules, the newspaper wrote, without citing sources.
Brazil gov’t pushes Congress to approve ‘green’
AFP – Brazil’s government expects Congress to approve a series of energy transition-related bills in the next 100 days that it believes will boost the country’s decarbonization credentials at the upcoming COP28 climate summit, an official said.
Rodrigo Rollemberg, a secretary at Brazil’s development ministry, said in an interview that the package of bills are set to include projects aimed at increasing the use of renewable fuels and regulating related sectors, such as offshore wind farms.