Meta is shunning the news business, giving lower priority to current affairs and politics on its social media platforms while refusing to engage with efforts from governments to make the US tech giant pay more to media organisations. Facebook’s parent company, after years of attempting to placate powerful publishers by funding non-profit journalism projects and
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Spot Bitcoin (BTC) exchange-traded fund applications from several firms have been published on the Federal Register, moving them one step along in the United States Securities and Exchange Commission’s (SEC) process. According to records updated July 19, the Federal Register received notices of proposed rule changes allowing BTC exchange-traded fund (ETF) applications from BlackRock, Fidelity,
After failing to sustain above the resistance of its narrow range, Bitcoin (BTC) fell near a key support on July 18. The consolidation of the past few days seems to be an accumulation phase, according to Glassnode’s Bitcoin Accumulation Trend Score. A similar score was seen during the accumulation phases between November to December and
Data standardization across the municipal market will likely take years and much discussion to pinpoint the issues and how the market can solve them. Some of the apparent problems were discussed at the Brookings Municipal Finance Conference where Marc Joffe, federalism and state policy analyst at the Cato Institute, presented his paper outlining them. “If
Russia has warned it will treat all vessels heading to Ukraine’s ports as military threats, signalling its intent to reimpose a naval blockade on Ukraine in a move that sent European and US grain futures soaring. The announcement followed Russia’s decision this week to withdraw from last year’s UN-brokered agreement to allow Ukrainian Black Sea
Oklahoma’s attorney general is pursuing potential legal action against parties that may have illegally profited off of huge demand for electricity and natural gas during 2021’s Winter Storm Uri, which led to nearly $2.9 billion of bonds being sold last year to cover extraordinary costs incurred by four utility companies. AG Gentner Drummond announced Tuesday
Goldman Sachs must be thinking wistfully about what might have been. On Wednesday, the US investment bank reported weak second-quarter earnings. Downtrodden investment banking fees accompanied one-time losses in commercial real estate. Scant M&A produced an annualised return on equity of 4 per cent. Dreams of consumer banking riches have been dashed amid a near
Coutts is under the spotlight after Nigel Farage released documents claiming the private bank — known for its wealthy clients and formerly dubbed “the Queen’s bank” — axed him because of potential reputational risk. According to Farage, the memo that he obtained from Coutts — which is owned by the taxpayer-backed NatWest Group — shows
The Supreme Court of Georgia recently put an end to a long-running legal dispute that held up a state-backed development deal with electric vehicle maker Rivian. The state’s high court last week declined to hear an appeal filed by local residents opposed to the validation of $15 billion of bonds backing the construction of a
As officials in Vermont assess damage from recent floods on a scale not seen since Hurricane Irene battered the state in 2011, they’re taking stock for the first time of the effect climate-mitigation efforts may have had. Flooding in Vermont triggered by several days of heavy rainfall last week caused “catastrophic damage” to infrastructure statewide,
A Carvana used car “vending machine” on May 11, 2022 in Miami, Florida. Joe Raedle | Getty Images Check out the companies making headlines in midday trading. Carvana — Shares soared nearly 30% after the used-car retailer reached a deal that will reduce its total outstanding debt by more than $1.2 billion. The agreement will
European stocks rose on Wednesday, as a faster than expected drop in UK inflation further added to investors’ hopes that central banks could soon draw their historic tightening campaigns to a close. Europe’s region-wide Stoxx 600 added 0.5 per cent at the opening bell, extending gains from the previous session, while France’s Cac 40 added
At an East Coast dinner party last week with guests from finance, tech, academia and a former senator, one of my neighbours whispered across the table: “Do you think we are living in Leopoldstadt?” For those who have not seen Tom Stoppard’s multi-award-winning play of that name, it centres on a Viennese Jewish family who
Bitcoin (BTC) mining’s environmental impact has always been a controversial topic. On the one hand, critics emphasize that securing the Bitcoin network takes more power than some whole countries’ annual electricity consumption. On the other hand, much of the crypto community argues that it is a necessary activity that has enabled the Bitcoin blockchain to
In the latest episode of The Market Report, Cointelegraph analyst and writer Marcel Pechman discusses Ripple’s partial victory against the Securities and Exchange Commission and its impact on the crypto market. Although people traded based on emotion after headlines popped out, the next day, as investors could process what happened, the altcoins gave away half
The state of Florida has paid down $400 million of the state’s liabilities through its new Debt Reduction Program, Gov. Ron DeSantis said Wednesday, saying the move saved taxpayers millions of dollars. In June, DeSantis signed the $116.5 billion budget for fiscal 2023–24, which established the debt reduction program within the Division of Bond Finance.
The lost tribe of disillusioned Twitter users, fleeing the barely-moderated brawl they say the app’s new owner Elon Musk has fostered in their favoured public square, are roaming the fractured social media landscape in search of refuge. An obvious haven is Threads, a newly launched sister app to Instagram, owned by Mark Zuckerberg’s Meta. But
The unexpected drop in UK consumer price growth last month has led to cautious predictions that the country’s inflation crisis has reached a turning point. The news that annual inflation declined to 7.9 per cent in June from 8.7 per cent in May also made the UK look less like an outlier among advanced economies.
The Wagner paramilitary group has relocated to Belarus “for some time” before leaving to fight in Africa, its founder Yevgeny Prigozhin has said, adding that the group may later rejoin Russia’s invasion of Ukraine. In a dimly lit video filmed in a field and posted on Wednesday by a Wagner-linked channel, the warlord welcomed a
UK rental prices rose to the highest on record while house price growth declined as higher mortgage rates hit the property market, according to official statistics published on Wednesday. Private rental payments paid by tenants increased by 5.1 per cent in the 12 months to June, the largest annual percentage change since the data series
The U.S. housing market is in historic turmoil. Years of rock bottom interest rates, then the pandemic, and now an unprecedented cycle of tightening by the Federal Reserve that is likely not over yet, have left buyers and sellers in difficult spot. Prices have begun to level off or decline in many areas in response