Bitcoin (BTC) fought for $28,000 support on May 2 after the month opened to multiday lows. BTC price: “Big volatility on the horizon” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it returned to the $28,000 mark on Bitstamp. The previous day’s Wall Street open had brought the latest wave of downside volatility,
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Pro-freedom technologies advocate and software developer Jason Dreyzehner recently spoke with Bitcoin.com News via email about the upcoming Bitcoin Cash network upgrade on May 15. One of the most talked about improvement proposals set to go through on that date — which proponents view as a boon to economic freedom — is the Cashtokens CHIP.
UK house prices unexpectedly rose between March and April, according to data from mortgage provider Nationwide that suggests the property market is stabilising as borrowing costs ease. Prices increased 0.5 per cent last month, ending seven consecutive months of decline and beating analysts’ forecasts of a 0.4 per cent fall. Robert Gardner, Nationwide’s chief economist,
BP’s first-quarter earnings beat market expectations but eased off the record levels set in 2022, prompting a drop in the pace of planned share buybacks. The UK energy group left its quarterly dividend unchanged after raising it 10 per cent in February but pared back share repurchases, announcing $1.75bn in buybacks to be completed in
Gold companies operating in China ramped up their production levels during the first quarter of 2023. According to industry reports, the Chinese gold industry managed to recover its extraction levels, reaching numbers it saw before the Covid pandemic, with the country engaging in a record streak of purchasing gold during the last five months. China
Chinese initial public offerings have raised more than five times as much money as those in the US this year as a crop of fresh listings in the world’s biggest economy failed to appear after a dire 2022. Rising interest rates, stubbornly high inflation and the recent turmoil in the US banking sector have dashed
The banking crisis of 2023 has claimed its largest US victim to date: First Republic Bank. The deal regulators orchestrated in the early hours of Monday for JPMorgan Chase to acquire the California lender’s assets and deposits is perhaps the best outcome that might have been expected in the circumstances. Sharing First Republic’s loan losses
In China, foreign consultants are learning to expect a knock on the door. First, police raided the Beijing office of US due diligence group Mintz in March. Weeks later, there was a similar visit to the Shanghai premises of Bain, the blue-chip US consultancy. Police have also visited one of the China offices of expert
I have a confession to make: I hate big numbers. Or rather, I hate it when big numbers are used to impress or bamboozle rather than to make sense of the world. The annual Budget speech by the UK’s chancellor, for instance, always involves a dizzying parade of large price tags. This year’s included an
Russia’s president, Vladimir Putin, says the trend toward multipolarity is inevitable and will only intensify. “Those who do not understand this and do not follow this trend will lose,” the Russian president warned. Putin on Multipolarity Trend Escalating Russian President Vladimir Putin talked about a global trend towards multipolarity at a recent meeting of the
In the shadow of Bolton’s ornate Victorian town hall voters in Thursday’s local elections seemed broadly unenthusiastic about their electoral options. The Conservative-run town has declined in recent times, said IT worker Michael Gill, despite benefiting more recently from central government regeneration cash. “It feels like the town has gone downhill a bit,” said the
U.S. Treasury Secretary Janet Yellen has warned that the Treasury will not be able to pay all of the government’s debt “as early as June 1, if Congress does not raise or suspend the debt limit before that time.” Yellen also cautioned that the U.S. defaulting on its debt obligations “would produce an economic and
Johann Steynberg, the founder and CEO of Mirror Trading International, has been ordered to pay over $1.73 billion in restitution to victims of his bitcoin ponzi scheme. The court has also ordered Steynberg to pay a civil monetary penalty of a similar amount. The Commodity Futures Trading Commission (CFTC) conceded that orders requiring payment of
Business intelligence platform MicroStrategy has reiterated its commitment to its Bitcoin (BTC) investment strategy after turning its first quarterly profit since 2020. The Michael Saylor-founded firm went back into the green in the first quarter of 2023 with a profit of $94 million, which was largely attributed to a one-time income tax benefit of $453.2
Morgan Stanley is making plans to eliminate another 3,000 jobs by the end of June, as the Wall Street bank hunkers down to survive an extended slump in dealmaking. People familiar with the discussions say senior managers are aiming to eliminate roughly 5 per cent of staff, excluding the customer-facing financial advisers in Morgan Stanley’s
Blockchain technology was introduced in 2008 as a decentralized, secure, transparent system for managing digital transactions. Its primary aim was to provide a solution to major problems with traditional transactional systems, including trust, security, decentralization and efficiency. Blockchain has since expanded beyond finance and has been used in supply chain management, healthcare, games, digital media
Puerto Rico Electric Power Authority bondholders submitted expert reports attacking the Oversight Board’s plan of adjustment’s assumptions and proposed bond provisions. The experts, hired by the bondholders, argue the board’s estimates of money available for paying debt are too pessimistic and the proposed new bonds would lack basic protections for bondholders, increasing the risk they
Las Vegas, Nevada, had its issuer default rating upgraded to AA from AA-minus by Fitch Ratings, which cited favorable visitor trends, healthier-than-anticipated revenues and federal aid. A stable ratings outlook has been assigned. The upgrade affects the series 2004 limited tax general obligation bonds issued by the Las Vegas Special Improvement District. The special improvement
The US government risks running out of money as soon as June 1, Treasury secretary Janet Yellen warned in a letter to congressional leaders on Monday, as US President Joe Biden invited Republican Speaker of the House Kevin McCarthy to the White House next week amid growing concerns that Washington is careening towards a debt
5/1/2023, 11:10:12 PM What to watch in Asia today FT reporters Events: The Reserve Bank of Australia’s monetary policy rate-setting meeting begins. The Asian Development Bank’s annual gathering starts in Incheon, South Korea. Finance ministers and central bank governors of Asean Plus Three countries hold a news conference on the event’s sidelines. Data: South Korea
In this article FANG ANET MGM SYK NXPI Follow your favorite stocksCREATE FREE ACCOUNT A monitor displays Arista Networks Inc. signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, Aug. 24, 2018. Michael Nagle | Bloomberg | Getty Images Check out the companies making headlines in after-hours