Labour is to review the UK business tax regime as part of efforts to make Britain the fastest-growing economy in the G7, shadow chancellor Rachel Reeves will announce on Tuesday. Reeves, giving a speech in London to the annual conference of Make UK, the trade body for Britain’s manufacturers, will say the review is intended
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The United States equities markets are trying to extend their recovery at the start of the new week. One of the reasons that could be boosting investor confidence is that the yield on the benchmark 10-year note has slipped further to 3.924%. However, the bullish sentiment of the equities markets has not rubbed off on
Terawulf, a bitcoin mining operation, has announced that it has energized the first nuclear-powered bitcoin mining facility in the United States at the company’s Nautilus Facility in Pennsylvania. According to the company, approximately 1 exahash per second (EH/s) or close to 8,000 application-specific integrated circuit (ASIC) bitcoin miners are now online, and another 8,000 mining
Economic indicators did little to move fixed-income Monday as municipals were slightly firmer to start off the week, while U.S. Treasuries were a little weaker. Equities ended mixed. Tuesday and Wednesday will bring testimony from Federal Reserve Board Chair Jerome Powell and Friday will see the release of the February employment report. The market will
Iowa-based UnityPoint Health and New Mexico-based Presbyterian Healthcare Services are exploring a merger that would create a system with $10 billion in revenues. The two signed a letter of intent to consider merging last week. Both systems will now pursue a deeper evaluation that could lead to a definitive agreement and regulatory approvals. Each would
Unsteady leadership has challenged the financial stability of Wellfleet, Massachusetts, according to a state review of the town’s financial management that was recently made public. High turnover rates in key government positions over the last decade left the Cape Cod town of 4,035 without sustainable revenue streams and in need of fundamental reforms, the Division
Chinese companies are flocking to Switzerland to raise capital after being discouraged from listing in the US by geopolitical tensions and in Britain by tougher audit standards. Nine Chinese companies floated in Zurich last year, raising $3.2bn in the European country, according to SIX, the operator of the Swiss stock market. That far outstrips the
The UK’s most senior civil servant is considering an early departure from his role after leaked WhatsApp messages that have infuriated Conservative MPs. Simon Case, cabinet secretary, has told friends that he is “genuinely undecided” between trying to guide the civil service through a general election next year and resigning this year to give his
U.S. District Court Judge Laura Taylor Swain voided a 2022 Puerto Rico labor law, a win for the Puerto Rico Oversight Board, and perhaps an important precedent, according to an analyst. The law, Act 41, does not comply with the Puerto Rico Oversight, Management and Economic Stability Act because it was not submitted to the
The fiscal pounding hospitals took last year from labor and other pressures nearly erased the fiscal 2021 recovery for hospitals operating margins that have June 30 fiscal year ends, with the full and bleaker accounting of last year’s strains still to come, Fitch Ratings said. The not-for-profit hospital sector’s bruising margin wounds last year are well known
Turmoil continues at an Idaho community college district where management dysfunction was a major factor in a February downgrade. A Kootenai County district judge ordered North Idaho College trustees to reinstate Nick Swayne, the college president they had placed on administrative leave in December. Tumult that put its accreditation in jeopardy was cited when Moody’s
The price of Ethereum’s native token, Ether (ETH), has recovered 78% since June 2022. But this doesn’t guarantee further upside, particularly with declining trading volumes suggesting that the risk of a major correction is high. Ether volume profile drops 90% since March 2020 A “volume profile” indicator displays trading activity across prices, with the blue
The Rollkit development team has announced that Bitcoin has been integrated as a means for sovereign rollups to store and retrieve data. The developers have stated that it is now possible to run the Ethereum Virtual Machine (EVM) on Bitcoin as a sovereign rollup. However, some Ethereum proponents have expressed dissatisfaction with the technology being
Legislatures in 32 states so far this year have introduced more than 150 transportation funding-related measures, with more expected as legislatures in all 50 states settle into their sessions. That’s according to the January and February roundup of state bills by the American Road & Transportation Builders Association, which tracks transportation-related bills monthly through its
The National Federation of Municipal Analysts has named Mark Capell, managing vice president of public finance for Build America Mutual’s West Region as its president for the 2023 year. The first bond insurer to serve as president of NFMA since Bill Hogan of Assured Guaranty’s 2009 term, Capell believes his experience in bond insurance gives
The Frax community recently approved a proposal to make its FEI stablecoin fully backed by USD equivalents, rather than maintaining a partially backed and semi algorithmic stablecoin. With Frax’s decision, the days of experimentation with algorithmic stablecoins could finally be behind us. The decentralized stablecoin space has only proved effective with ETH, USDC and BTC
press release PRESS RELEASE. London – Alvey Chain, a decentralized Layer 2 Blockchain built on Ethereum Chain, also a leading provider of blockchain technology solutions, is proud to announce the launch of its next-generation Virtual Reality Multiverse Exchange. The new platform offers a secure, reliable, and scalable solution for users. They can trade, open as
Private equity firm General Atlantic is teaming up with an Abu Dhabi state fund and the emirate’s largest listed company to launch a new investment group, underlining the continuing pull the oil-rich Gulf state holds for Wall Street. The new investment firm will manage a series of assets drawn from ADQ, Abu Dhabi Growth Fund
The writer is author of ‘Chip War’ When the US last week added several units of BGI Group, a Chinese genetic sequencing firm, to its entity list restricting technology transfer, the primary justification was that the company had been “contributing to monitoring and surveillance”, including of ethnic minorities. Yet the human rights implications of China’s
In recent times, Bitcoin’s hashrate has been consistently above 300 exahash per second (EH/s) as multiple mining pools dedicate significant hashpower to the Bitcoin blockchain today. Interestingly, some of the world’s top bitcoin mining pools are also using their hashrate to merge-mine other coins, and these networks have benefited from bitcoin’s increased hashrate. How Bitcoin’s
Ethereum classic remained near a two-month low on March 6, as a cloud of uncertainty continued to hover over markets. The global crypto market cap remained bearish to start the week, and is down 0.55% at the time of writing. Litecoin also moved lower on Monday. Ethereum Classic (ETC) Ethereum classic (ETC) started the week