One of Britain’s biggest housebuilders said the share of its first-time buyers taking on more than 36-year mortgages had more than tripled, as affordability issues in the housing market took its first-half profits down by 29 per cent. Taylor Wimpey said on Wednesday that 27 per cent of its first-time buyers had taken mortgage terms
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US government debt rallied on Wednesday, despite Fitch Ratings’ unexpected decision to downgrade Washington’s top-tier sovereign debt rating, as a sell-off in stock markets drove investors into the safety of Treasuries. Yields on two-year Treasuries fell 0.05 percentage points to 4.9 per cent, while 10-year yields were down 0.02 percentage points to 4.03 per cent.
Bitcoin (BTC) spiked above $30,000 on Aug. 2 as a tour of its trading range saw BTC price volatility return. BTC/USD 1-hour chart. Source: TradingView Bitcoin comes full circle after trip to $30,000 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as buyers staged a brief rally through key resistance. Local highs of $30,025
The new cryptocurrency and digital identity project, Worldcoin, is facing a rough start in Kenya, with the government halting all local activity associated with it. Kenya’s minister of internal security took to Facebook on Aug. 2 to announce that the country has suspended the activities of Worldcoin until relevant public agencies had certified the absence
Coinbase CEO Brian Armstrong has confirmed that the crypto exchange is “looking into” adding the Bitcoin Lighting network in its quest to advance crypto payments adoption worldwide. On July 28, Armstrong addressed the crypto community on Twitter (rebranded to X), highlighting the potential of cryptocurrencies to improve global payments infrastructure. He further suggested: “This will
The future of democracy in America will turn on the trials of Donald Trump — and the political turmoil that will surround them. The latest indictment of the former president — in connection with his efforts to overturn the results of the 2020 presidential election — is the most important case that Trump faces. It
BAE Systems has lifted its annual profit forecast as the war in Ukraine helped drive orders to a new record at Britain’s biggest defence company. The company said on Wednesday that it had won £21.1bn of new orders in the first six months of the year, as governments stepped up their military spending. Its order
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A non-profit organization dedicated to growing the development of nonfungible tokens (NFTs) on Bitcoin (BTC) has been launched by the team behind the Bitcoin Ordinals protocol. The California-based nonprofit called the Open Ordinals Institute will bolster the Ordinals protocol by providing funding to the team’s core developers, which includes the project’s pseudonymous lead maintainer Raph.
One of the key reasons renters are getting caught in the crossfire of the mortgage rates is that it is increasing rental demand, said Oliver Knight, head of residential development research at real estate firm Knight Frank. Oscar Wong | Moment | Getty Images LONDON — Mortgage rates are soaring in Britain, and many are
The European Commission has approved €733bn in state support since March 2022 for businesses affected by the war in Ukraine and the green transition, an amount superseded in recent years only by subsidies approved during the Covid-19 pandemic. Germany accounts for almost half of total EU state aid funding approved under a temporary crisis scheme
EY boss Carmine Di Sibio’s right-hand man has emerged as a frontrunner to take over as global head of the Big Four firm in a leadership race triggered by the collapse of its attempted break-up this year. British executive Andy Baldwin, one of the architects of the aborted plan to spin off EY’s consulting operations,
The writer is a science commentator We know that AI can write, add up, and prioritise tasks. But could it independently make a million dollars? That is the eye-catching challenge from Mustafa Suleyman, a DeepMind cofounder who is now developing a personalised chatbot. He points out that large language models, such as LaMDA and ChatGPT,
With his second criminal case against Donald Trump, Jack Smith has taken his biggest swing yet. In doing so, the prosecutor appointed to handle investigations into the former US president is entering uncharted legal territory. The scope of the charges brought by Smith’s team could not be broader, in effect alleging an all-out assault on
United States-based software development company MicroStrategy is planning to raise up to $750 million via a stock sale and says it may use the proceeds to buy more Bitcoin (BTC). In a filing to the Securities and Exchange Commission on Aug. 1, MicroStrategy announced it has entered into a sales agreement with three companies —
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Business intelligence firm MicroStrategy — one of the largest corporate holders of Bitcoin (BTC) in the United States — managed to return to profitability in the second quarter amid a surge in the price of Bitcoin. In a Q2 earnings results filing posted on Aug. 1, MicroStrategy reported $22.2 million in net income, a massive
Donald Trump suffered a new legal blow on Tuesday when he was indicted on federal charges connected to his effort to overturn the result of the 2020 US presidential election. But even as the criminal proceedings against him pile up, consuming his bid for a new term in the White House, the former president is
A Starbucks outlet in Beijing. In China, comparable store sales rose 46% from a year ago, with stores back to standard operations after the end of zero-Covid policies © Ng Hang Guan/AP Starbucks reported record revenues and profits beat analysts’ expectations in the coffee chain’s latest quarter, helped by higher prices for its beverages and
China’s economy defies analogies. Just as its growth over the past four decades was unprecedented, its current difficulties — and it certainly has a problem, if not quite a crisis — are unique. It is not Japan in 1990, Korea in 1997 or the US in 2008. China does not face a financial crisis or
US prosecutors have charged Donald Trump in connection with attempts to overturn the results of the 2020 election, the second federal indictment brought against the former president in as many months. Trump was charged with four criminal counts including conspiracy to defraud the US, to obstruct an official proceeding and to threaten individual rights, according