Volkswagen is putting on hold a planned battery plant in eastern Europe and prioritising a similar facility in North America after estimating it could receive €10bn in US incentives. The decision is the latest fallout from Joe Biden’s $369bn package of subsidies and tax incentives for green technology that is luring European companies to the
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Chancellor Jeremy Hunt will use next week’s Budget to set out a new capital allowances regime for businesses, to offset a sharp rise in corporation tax and the end of a £25bn “super-deduction” tax break for investment. Conservative MPs have urged Hunt to be bold and unveil tax cuts to offset headwinds caused by the
It was, in fairness, a good line. The boss of Activision Blizzard, in full campaigning mode in support of the gaming group’s $75bn sale to Microsoft, last month noted UK prime minister Rishi Sunak’s ambitions to become a European tech hub and quipped: “If deals like this can’t get through, they won’t be Silicon Valley,
Payments company Block, formerly known as Square, is delving deeper into the crypto mining industry with potential plans to build a “mining development kit.” A Mar. 7 blog post revealed that the Jack Dorsey-founded multinational technology firm was mulling its latest vision for advancing its Bitcoin (BTC) mining ambitions. Senior product lead for mining hardware,
The organization representing Russia’s crypto and blockchain sector has urged Vladimir Putin to spur regulatory efforts. The association fears the Russian Federation may lag behind other nations if it maintains its conservative approach towards new financial technologies. Russian Crypto Businesses Want Putin to Engage With Regulatory Process The Russian Association of Cryptoeconomics, Artificial Intelligence and
The government of North Macedonia believes that an ongoing wave of false bomb threats against public targets in the country is coming from Russia and Iran. The authorities in Skopje also say that payments related to the attacks have been made with cryptocurrency to conceal traces. Over 700 Facilities Targeted With Bomb Threats in North
Ethereum co-founder Vitalik Buterin has gone on a shitcoin selling spree, exchanging nearly $700,000 worth of tokens previously airdropped to him for Ether (ETH). According to Etherscan, a wallet belonging to Buterin on March 7 offloaded 500 trillion SHIKOKU (SHIK) for 380.3 ETH ($595,448), nearly 10 billion Cult DAO (CULT) for 58.1 ETH ($91,021), and
The UK tax authority’s decision to shut its task force focused on recouping fraudulent and faulty claims made on the government’s flagship Covid-19 support schemes is putting at risk up to £5.1bn of taxpayers’ money, according to a damning report by MPs. The cross-party House of Commons public accounts committee said on Wednesday it was
Share to Facebook Share to Twitter Share to Linkedin Is inflation scrambling your nest egg? If so, you’re not alone. The market’s been weak since inflation kicked into high gear in the second half of 2021. More than a year later, we’re still struggling with extreme price increases and reduced balances in our brokerage accounts
Federal Reserve Chairman Jerome Powell has outlined several risks related to crypto activities during a hearing before the Senate Committee on Banking, Housing, and Urban Affairs. While stating that the Fed sees turmoil, fraud, a lack of transparency, and run risk in the crypto space, he stressed: “We don’t want regulation to stifle innovation.” Fed
3/8/2023, 4:01:37 AM Asian currencies fall against the dollar on Powell’s comments William Langley in Hong Kong Asian currencies declined against the dollar on Wednesday, as comments from US Federal Reserve chair Jay Powell signalling that the central bank could return to larger interest rate increases boosted the greenback. All prices are given against the
Elon Musk said that Twitter’s finances are improving to the point that the social media company could return to posting positive cash flow next quarter, as the chief executive attempts to cut costs, lure back advertisers and navigate the platform’s tech woes. Speaking at a Morgan Stanley investor conference on Tuesday, Musk said that cash
The RMT union has called off part of its upcoming strikes on the UK railway and announced plans to instead put a new pay offer from infrastructure owner Network Rail to a member vote. The union’s general secretary Mick Lynch said in a message to members that the RMT had received “an improved offer” from
Perth Mint, Australia’s official bullion mint, currently faces a $9 billion recall from China for allegedly selling “doped” bullion and attempting to cover it up, as reported by Australia’s ABC News. The practice of doping gold involves adding impure ore like silver to the mix to cut costs and lower the quality of gold. Reportedly,
In this article MAXN CRCT SFIX CRWD Follow your favorite stocksCREATE FREE ACCOUNT The Stitch Fix application for download in the Apple App Store on a smartphone. Tiffany Hagler-Geard | Bloomberg | Getty Images Check out the companies making headlines after the bell. CrowdStrike — The global cybersecurity company’s shares were up 6% after its
At different points along its dramatic coastal landscape on the southern tip of the Baja California peninsula, the popular western Mexico region known as Los Cabos can change from sprawling beachfront to towering mountainside to tranquil desert terrain in a matter of a few miles. This tendency to transform extends beyond just scenic topography and
Elon Musk and the EU are in a dispute over the Twitter owner’s plan to use more volunteers and artificial intelligence to help moderate the social media platform, as the company responds to strict new rules designed to police online content. According to four people familiar with talks between Musk, Twitter executives and regulators in
There is “no magic wand” that can deliver independence, the favourite to become Scotland’s next first minister has warned his governing Scottish National party, saying a sustained majority for leaving the UK was vital to overcome Westminster’s veto of a second referendum on the issue. The comments from Humza Yousaf, Scotland’s health secretary and the
Municipals were a little firmer in spots Tuesday, while equities and short-term U.S. Treasuries sold off after Federal Reserve Board Chair Jerome Powell suggested interest rates could be hiked higher than expected to combat inflation. The two-year UST yield rose 13 basis points, pushing it above 5% for the first time since June 2007. The
The price of Ether (ETH) declined 6% between March 2-3, followed by a tight range trading near $1,560. Still, analyzing a wider time frame provides no clear trend, as its chart can point to a descending channel or a slightly longer seven-week bullish pattern. Ether’s recent lack of volatility can be partially explained by the
Two Senate committees are raising the visibility of the housing shortage in the U.S., and weighing legislative action that could pave the way for more housing bonds. The U.S. Senate Finance Committee held a hearing on Tuesday to explore tax policy as related to the affordable housing supply, and last week the Senate Committee on