Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. KPMG has frozen pay for around 12,000 employees in the UK, as the gloomy economic climate hits demand for its services across the firm. Bosses at the Big Four accountancy firm told staff across its
Bitcoin (BTC) bulls kept the pressure on 18-month highs on Nov. 24 as analysis eyed buyer interest spiking. BTC/USD 1-hour chart. Source: TradingView Bitcoin fights for new 18-month high Data from Cointelegraph Markets Pro and TradingView showed the BTC price trajectory heading upward into the Wall Street open. The largest cryptocurrency saw increasing momentum during
Cathie Wood’s investment firm ARK Invest has sold 700,000 shares of the Grayscale Bitcoin Trust (GBTC) over the past month, even as Bitcoin (BTC) hit 17-month highs over excitement for a possible spot Bitcoin exchange-traded fund (ETF). The ARK Next Generation Internet ETF (ARKW) sold 36,168 GBTC shares on Nov. 22, offloading a total of
The saga of Terraform Labs co-founder Do Kwon continues to unfold, with a court in Montenegro approving his extradition to either South Korea or the United States. The High Court of Podgorica has determined the legal requirements for Kwon’s extradition, according to an official statement posted on the court’s website on Nov. 24. As the
The Austrian subsidiary of European lender Raiffeisen Bank is preparing to allow its clients to trade cryptocurrencies like Bitcoin (BTC) in the coming months. After initially announcing its crypto plans in April 2023, Raiffeisen Bank’s Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien) is moving forward with a crypto rollout in collaboration with the Austrian crypto firm Bitpanda. RLB
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Investors are selling dollars at the fastest rate in a year as they raise their bets that the US Federal Reserve has finished its aggressive campaign of interest rate increases and will deliver multiple cuts
This is part of a series, “Economists Exchange”, featuring conversations between top FT commentators and leading economists Like many of its peers, the Bank of England was badly wrongfooted by the scale of the inflationary upsurge in 2021. Since then, it has been attempting to prove it has got to grips with the problem, ratcheting
Stay informed with free updates Simply sign up to the UK inflation myFT Digest — delivered directly to your inbox. The Bank of England cannot afford to relent in its battle against high inflation just because it sees signs of weakening economic activity, its chief economist told the Financial Times. Huw Pill said UK monetary
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A tentative four-day ceasefire between Israel and Hamas appears to have taken hold, setting the ground for the staggered release of 50 hostages held by Hamas and 150 Palestinian prisoners in Israel. The Qatari-brokered ceasefire
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is professor of politics at the University of Oxford, author of ‘Why Politics Fails’ and this year’s BBC Reith Lecturer, starting on November 29 With a UK general election almost certain to be
Microsoft chief executive Satya Nadella’s decision to throw his company’s lot in with OpenAI in 2019 has turned into one of the tech industry’s most successful partnerships, giving the software company a huge head-start in the booming market for generative artificial intelligence. His closeness with OpenAI chief Sam Altman, underlined when Nadella turned up on
Since Bernard Looney resigned as BP chief executive in September, the energy major has presented his departure as an isolated incident: the result of one man’s failure to disclose to the board past relationships with colleagues. Former employees, shareholders and others familiar with BP paint a more complicated picture. They say Looney’s rise and fall
Markets commentator Jim Cramer has tacitly admitted he was wrong about Bitcoin (BTC), saying he was premature in calling for investors to sell the cryptocurrency. In a Nov. 22 segment of his CNBC Mad Money show, Cramer responded to a caller who inquired about buying shares in Bitcoin miner CleanSpark, saying that anyone who likes
Who among us hasn’t inadvertently burned a pot or pan – or two? However, some people routinely burn cookware to the point of no return. And as a result, these individuals end up with mismatched cookware sets that look like they survived a 5-alarm house fire. Trust me, these people would welcome new, matching cookware
The market has already entered the first phase of a major rally, with the number of people buying crypto trickling upward which is expected to accelerate early next year, say the heads of Australia’s largest crypto exchanges. Independent Reserve CEO Adrian Przelozny told Cointelegraph he expects market activity to see an uptick in early 2024
© Jose Jacome/EPA-EFE/Shutterstock Daniel Noboa has been sworn in as president of Ecuador, as the country faces debt repayments, social unrest, and surging crime. Noboa, 35, the son of banana magnate and five-time presidential candidate Álvaro Noboa, has yet to finalise his cabinet. Curbing drug-related violence in the Andean nation will be Noboa’s priority, with
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A senior intelligence officer in the Israeli military dismissed as an “imaginary scenario” the contents of a detailed warning predicting Hamas’s raid of October 7, two people familiar with the discussions said. Sentries on Israel’s
Our weekly roundup of news from East Asia curates the industry’s most important developments. HTX exchange hacked… again In the fourth hack affecting the HTX (formerly Huobi Global) ecosystem in just two months, the exchange lost $13.6 million via a hot wallet hack that occurred on November 22. In its November 23 announcement, the exchange promised to
Ether (ETH) price is trading slightly higher on Nov. 23, maintaining support above the $2,000 level after briefly retesting $1,930 on Nov. 21. Over the past week, Ether’s price has increased by 2.5%, while the total market capitalization has grown by 0.5%. This uptrend can be attributed to improved decentralized applications (DApps) metrics, increased protocol
XRP (XRP) price has dropped 18.5% from its local high of $0.67 on Nov. 23. And, it appears the cryptocurrency will suffer more selloffs in the coming weeks. XRP technicals hint at extended correction XRP has failed to break above a descending trendline resistance since January 2018. And, it fell short of logging a breakout
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Bank of England governor Andrew Bailey this week warned the market not to expect interest rate cuts soon. He might rethink that hawkish tone if he studies Virgin Money’s full-year results, given that its customers