Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, February 17, 2023. Brendan McDermid | Reuters Is the growth of passive investing a threat to the stability of the stock market? A new study says you shouldn’t worry. There have been several very successful investing trends in the
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Philip Morris International has admitted it would “rather keep” its business in Russia than sell on stringent Kremlin terms, highlighting the challenges for companies trying to leave the country without taking a huge financial hit. Chief executive Jacek Olczak told the Financial Times the tobacco group, which sells Marlboro cigarettes outside the US, had been
The Bank for International Settlements (BIS) has long taken a cautious approach to Bitcoin (BTC) and cryptocurrencies. However, there is no need for caution anymore as the “battle has been won” between fiat and crypto, according to BIS. BIS general manager Agustín Carstens, who made the claim, highlighted that “technology doesn’t make for trusted money,”
The January launch of Bitcoin Ordinals created a stir within the crypto community about its place within the Bitcoin ecosystem. Users are debating whether they offer new use cases for Bitcoin or if it takes away from BTC’s peer-to-peer cash system vision. No matter the community sentiment on the Bitcoin-based nonfungibale token (NFT) issue, this did
Bitcoin extended recent declines on Feb. 22, as markets prepared for the release of the latest Federal Open Market Committee (FOMC) minutes. Following a recent move to a multi-month high, prices have slipped, with traders instead protecting profits. Ethereum has also declined, however remains above the $1,600 mark. Bitcoin Bitcoin (BTC) extended recent declines on
Rental platform REZI will announce later today their $100 million deal with SR Alternative Credit, a private credit affiliate of Spouting Rock Asset Management, for a new investment model the company is launching. REZI, an alum of startup accelerator Y Combinator, aims to streamline the rental process through its all-digital platform by lowering costs and
If you seek proof of the malaise in British public life, the saga of a Conservative donor who helped facilitate a personal loan for the prime minister being appointed BBC chair, will do nicely. This is the kind of thing the UK rails against when it happens abroad. Yet while Richard Sharp’s middleman role, details
sponsored A new player has entered the Bitcoin apparel market and is quickly making a name for themselves. Founded by Bailey Jakob, an Australian-born entrepreneur and Bitcoin enthusiast, Mr. Satoshi has quickly become the go-to brand for high quality and professionally designed Bitcoin clothing. Mr. Satoshi is a new U.S. based premium Bitcoin apparel store
Paraguay, one of the smallest countries in Latam, has the conditions needed to become the next Bitcoin mining hub in the region, according to mining insight group Hashrate Index. The company notes there are many elements in favor of Paraguay, including the abundance of clean hydroelectric power sources. However, the stance that the government has
Citigroup has forecast that UK inflation will plunge from the current double-digit rates to close to 2 per cent by the end of this year as rapid falls in gas prices give Rishi Sunak’s government hope of solving some of its biggest economic challenges. Citi said on Wednesday that consumer price inflation was likely to
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Ethereum core developer Tim Beiko announced the Shapella upgrade is scheduled for Feb. 28. The Shapella network upgrade will activate on the Sepolia network at epoch 56832. Shanghai and Capella (Shapella) are the upcoming Ethereum hard fork names. Shanghai is the fork’s name on the execution layer client side, and Capella is the upgrade name on
Bitcoin (BTC) wicked to five-day lows on Feb. 22 as a comedown for United States equities continued. Analyst on Bitcoin: “Waiting for a bit lower” Data from Cointelegraph Markets Pro and TradingView recorded lows of $23,871 on Bitstamp, with S&P 500 futures slipping under 4,000 ahead of the Wall Street open. Bitcoin bulls had lost ground
European and Asian stocks were hit with further declines on Wednesday after Wall Street suffered its worst day since December. The declines have been driven by stronger than expected economic data in the US and Europe, which has raised the prospect of central banks persisting with higher interest rates. Investors on Wednesday will look towards
The writer is an FT contributing editor, the chair of the Centre for Liberal Strategies, Sofia, and fellow at IWM Vienna In the wake of the 9/11 terrorist attacks in the US, American pundits would plaintively ask: “Why do they hate us?” A year into Vladimir Putin’s war in Ukraine, a variation on that question has
The Bank of Japan is preparing to launch a pilot test for a digital yen, its central bank digital currency (CBDC), later this year. Shinichi Uchida, executive director of the Bank of Japan, explained that the goals of this new pilot are to test the technical feasibility of the currency and to include private businesses
Lloyds Banking Group has forecast the boost from UK interest rate rises will start to fall next year and has put aside more than expected for potential defaults, even as profits almost doubled in the fourth quarter of 2022. The lender announced statutory profits before tax of £1.8bn in the fourth quarter on Wednesday, up
The Lebanese pound’s fall to its lowest ever versus the U.S. dollar, 80,000 to 1, has piled more misery on residents whose local currency-denominated savings have been decimated by inflation. The ongoing strike by banks demanding the passage of capital control legislation has compounded matters for residents. Lebanese Pound Devaluation According to several local media
The co-founder of the social media website Reddit, Alexis Ohanian, reportedly bought 50,000 Ether (ETH) for just $15,000 during the cryptocurrency’s presale in 2014, a cost of just 30 cents per coin. Ohanian, who left the social media giant in 2020, told Forbes in a Feb. 21 article that he found the idea of a
Investors are betting the European Central Bank will raise interest rates to all-time highs, spurred on by the eurozone economy’s resilience and signs that inflation could prove tougher to rein in than expected. The Frankfurt-based central bank, widely seen as one of the world’s most dovish during its eight-year experiment with negative borrowing costs, is
The writer is an FT contributing editor and global chief economist at Kroll Quantitative easing has developed a certain resemblance to the Eagles’ “Hotel California” — you can check out any time you like, but you can never leave. We should pay more attention to quantitative tightening, suggest former Reserve Bank of India governor Raghuram