JPMorgan Chase expects to increase the profits it makes from lending and said that deposits had jumped by $37bn in the first quarter, following the collapse of Silicon Valley Bank. Net income rose 52 per cent from a year ago to $12.6bn, or $4.10 per share in the first quarter, boosted by a rise in
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Social trading company Etoro has partnered with Twitter to will allow users of the microblogging platform to invest in cryptocurrencies and other assets. The move is viewed as a step towards turning the social media into a “super app,” a mission under Musk, providing financial and a range of other services. Musk’s Twitter Cashtags to
Inflation affects us all, but the rate at which we experience it will depend on our unique spending habits. Use the calculator below to estimate your personal inflation rate. Why estimate your personal inflation rate? For the past 30 years, inflation has been relatively stable across advanced economies, including the UK and US. In others
Analysts have begun considering using a future BRICS currency to sidestep U.S. sanctions and the dollar’s influence in international markets. While the rise of the U.S. dollar was significant to spur an era of economic growth after World War II, the so-called weaponization of its ubiquitous use has made some countries consider other options for
Investors are questioning the health of the commercial real estate sector following a string of recent banking crises. Mike Kemp | In Pictures | Getty Images Concerns are mounting around the health of Europe’s commercial real estate market, with some investors questioning whether it could be the next sector to blow following last month’s banking
Bitcoin (BTC) broke through $31,000 on April 14 as bulls hoped that altcoins would soon follow. Analyst eyes potential dip under $30,000 Data from Cointelegraph Markets Pro and TradingView captured new ten-month highs of $31,035 for BTC/USD on Bitstamp. The pair had risen gradually the day prior after a consolidatory period around new macroeconomic data
The winner of the Canadian lottery, Scott Gurney, has confirmed that scammers impersonating him on Facebook have conned unsuspecting victims of their bitcoins. To counter the scammers, Gurney said he has stopped accepting or sending friend requests on the social networking platform. ‘Too Good to Be True’ The Canadian Lotto Max jackpot winner, Scott Gurney,
A report from the research department of the Bank of Russia shows that, due to the structure of foreign trade contracts, it will be difficult to ditch the usage of the U.S. dollar to settle payments. The analysts found that contracts are often denominated in U.S. dollars and that most transactions are still concluded with
Decentralized exchange (DEX) Uniswap is seemingly set to launch on the new zero-knowledge Ethereum Virtual Machine (zkEVM) roll-up solution from scaling solution provider Polygon. While Uniswap (UNI) token holders have until April 14 at 9:05 pm UTC to vote on the proposal to launch Uniswap v3 on the zkEVM, the 40 million vote threshold needed
Ether (ETH) prices have topped the psychological $2,000 level following the Shapella upgrade this week and the result is a decline in Bitcoin (BTC) market dominance. According to data from the analysis site btctools.io Ether’s market share climbed to 19.8%, an over 1.1% boost in the last 24 hours while Bitcoin’s dominance slid by just
The billionaire Issa brothers and their private equity partners TDR Capital stumped up just £200mn for their 2020 deal to buy Asda, the UK supermarket chain valued at £6.8bn, corporate filings reveal. Mohsin and Zuber Issa and TDR used a complex chain of asset sales and debt deals that left them on the hook for just
There is no shortage of white men in economics. That is clear enough from a glance down the very male, very white list of winners of the discipline’s Nobel memorial prize. There are a few exceptions: the black Caribbean-born scholar Sir Arthur Lewis won in 1979; the first woman to win, Elinor Ostrom, did not
Further rate hikes are warranted by persisting inflation in the eurozone, according to members of its monetary authority’s decision-making body. Two central bank governors, with different opinions about how aggressive the European Central Bank should be, nevertheless agree that more increases of key interest rates are yet to come. ECB Has Some Hikes Left to
For about as long as countries have been having recessions, one pattern has consistently appeared in the jobs data: when the economy contracts, employment falls faster and further among men than women and the male employment rate takes longer to recover. In fact, in some instances female employment doesn’t even fall, merely experiencing a slowdown
Five weeks after the collapse of Silicon Valley Bank, there is no consensus on whether the ensuing financial stress in North America and Europe has run its course or is a foretaste of worse to come. Equally pressing is the question of whether, against the backdrop of still high inflation, central banks in advanced economies
It was nearly a decade ago when Intel, then the undisputed leader in global semiconductor manufacturing, made a fateful decision. A new technology, extreme lithography, was offering a way to pack more computing power on to the silicon wafers from which tiny chips, essential for widely used products like smartphones and PCs, are cut. Using
The decentralized marketplace OpenBazaar appears set for a comeback after it was shut down over two years ago, according to a number of social media and GitHub updates. A GitHub repository on the collaborative software development site shows progress as recent as April 12 on building a new version of the marketplace which was shut
An investment banker formerly employed by Deutsche Bank has been charged with perpetrating a crypto-related fraud. The man from Brooklyn has been accused of misappropriating funds from victims whom he promised large returns on cryptocurrency investments in a Ponzi-like scheme. Ex-Deutsche Bank Investment Banker Arrested and Charged for Defrauding Crypto Investors Rashawn Russell, a 27-year-old
A researcher at the Ethereum Foundation (EF) revealed that the IP addresses of Ether (ETH) stakers are monitored as part of a broader set of metadata, causing the cryptocurrency community to flag Ethereum for privacy concerns. In an April 12 interview on the crypto podcast Bankless, EF researcher Justin Drake revealed that he learned this
Economist Peter Schiff has cautioned that the present banking crisis is the cusp of a much worse financial crisis. “It’s going to get much much worse if you are going to try to dismiss it,” he stressed. Citing the Federal Reserve’s recession forecast, he warned: “Normally the Fed doesn’t forecast a recession. So if they
Economist Peter C. Earle says de-dollarization has begun, emphasizing that “It’s not just the conscription of the dollar in economic warfare, but increasingly error-fraught monetary policy regimes that are driving various interests away from the greenback.” He described: “By weaponizing dollar dominance and permitting expanding mandates to disorient U.S. monetary policy, the dollar’s fate as