Asian equities were broadly higher and US stock futures rose on Monday after US president Joe Biden struck a deal with Republican House Speaker Kevin McCarthy that would raise the US debt ceiling and prevent an unprecedented default in early June. Japan’s benchmark Topix stock index and Australia’s S&P/ASX 200 both rose about 1 per
Former Bitmex CEO Arthur Hayes is expecting to see significant Bitcoin volatility in the latter half of the year, caused by a “powder keg” explosion from the United States banking crisis and soaring national debt. Hayes, who currently runs a crypto-focused investment fund Maelstrom, spoke on the What Bitcoin Did podcast on May 26, making a
The writer is chief investment officer of asset & wealth management at Goldman Sachs Once a decade or so, real property values experience a sizeable reset, typically driven by factors related to overbuilding, interest rate movements, dislocation in capital markets or downturns in broader economic conditions. The outbreak of the Covid-19 pandemic in early 2020
When Wing-sun Chan left the social and political upheaval of Hong Kong for the outskirts of Manchester two years ago, he embodied several trends at once. Like many in this new diaspora, the 39-year-old father of two was drawn to a leafy northern suburb known for its strong education system. He also prioritised integration into
Corporate distress caused by inflation and rising interest rates is set to spread from smaller to larger UK companies, according to recovery specialists Begbies Traynor and FRP Advisory. Ric Traynor, executive chair of Begbies Traynor, said smaller businesses had so far dominated rising levels of insolvencies and driven the number of liquidations above pre-pandemic levels.
More than a decade after the closure of the News of the World — and almost twenty years since the offences in question — newspapers have been pulled once more into court over phone-hacking claims. But this time, executives from three newspaper groups are facing a new and potentially more implacable opponent in Prince Harry,
An Ether (ETH) wallet that has been inactive since Ethereum’s ICO (Initial Coin Offering) in 2015, has suddenly awoken after eight years of dormancy, moving a total of 8,000 ETH in just two minutes. The wallet received the 8,000 ETH after participating in Ethereum’s ICO (Initial Coin Offering) in 2015 and remained inactive until May 27.
Japan, declares tourist after tourist, investor after investor, is red hot. The yen is tumbling, the shopping is amazing, the stock market is flying, the sushi is cheap. It is also, perhaps, the only place in the world right now where you can buy a globally successful $20bn company for free. And glorious though that
For Anna Li, this year has been the worst she can remember for finding a job in China — harder even than during the pandemic. “I’ve been applying for jobs for half a year. I’m really exhausted but I’ve not received an offer yet,” the 25-year-old graduate in the country’s wealthy eastern Shandong province said,
Spain’s conservative People’s party inflicted a resounding defeat on the ruling Socialist party in local and regional elections on Sunday, but despite its big gains the PP will need the support of the hard-right Vox party to govern in many areas. The vote in 12 regions and more than 8,000 municipalities was a crucial test
With its historic Merge event in September, Ethereum has become a proof-of-stake blockchain. The mechanism now used to confirm transactions relies on validators staking their Ether (ETH). Ethereum’s March upgrade, codenamed Shanghai, finally enabled stakers to withdraw their locked Ether. The Ethereum ecosystem’s “investment themes” have included a) decentralized finance (DeFi) b) stablecoins c) Bitcoin
Tens of thousands of public and private sector pension plans would be pooled into “GB superfunds” with assets of up to £500bn each under “extremely radical” proposals to unleash tens of billions for UK business growth. The measures set out in a report from the Tony Blair Institute are aimed at reversing years of capital
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The United States looks to avoid a catastrophic debt default after the White House and the House Republicans agreed upon a tentative deal on May 27. The U.S. equities markets rallied in anticipation of the deal on May 26 and the positive sentiment has rubbed off onto the cryptocurrency sector, which is attempting a recovery.
Bitcoin may be the answer to combat cybersecurity threats driven by artificial intelligence, such as deepfake, said Michael Saylor, executive chairman of MicroStrategy, during a recent interview with Kitco News. Saylor illustrated his views using social media accounts created by robots as an example. According to him, billions of fake accounts are behind a digital
After using the price-to-book ratio and the Zacks Rank to find value stocks, Tracey Ryniec profiles her top pick: Carnival Corporation (CCL). Carnival Corporation: http://www.zacks.com/stock/quote/CCL?cid=CS-YOUTUBE-FT-VID Follow us on StockTwits: http://stocktwits.com/ZacksResearch Follow us on Twitter: https://twitter.com/ZacksResearch Like us on Facebook: https://www.facebook.com/ZacksInvestmentResearch
The writer oversees the Human Rights Foundation’s combating kleptocracy programme A year ago, with a new administration rising in Washington, it was clear that the US had taken the lead in the transatlantic fight against kleptocracy. But over the past few months, London has begun laying a blueprint to regain that pole position, and started
The market dominance of stablecoins pegged to the United States dollar has undergone some changes over the past year. While most of them are in a downward trend, Tether (USDT) has climbed back to its all-time high, data from CoinGecko shows. In the past 12 months, Circle’s USD Coin (USDC) has seen its market share
Turkey’s president Recep Tayyip Erdoğan was leading rival Kemal Kılıçdaroğlu in Sunday’s pivotal run-off election, according to early returns published by state media, placing him on course to extend his rule into a third decade. Erdoğan had secured about 53 per cent of the vote, compared with 48 per cent for Kılıçdaroğlu, according to calculations
Mike Lynch, the billionaire founder of UK software group Autonomy, has used around $50mn worth of shares in British cyber security group Darktrace to pay for his bail as he awaits trial for fraud in the US. The British entrepreneur, who was extradited to the US earlier this month, has posted around 14.6mn shares in
Republican House Speaker Kevin McCarthy on Sunday was trying to contain a revolt from rightwing lawmakers opposed to his debt agreement with President Joe Biden, as both sides moved to sell their parties on a deal to prevent a looming US default. McCarthy defended the pact ahead of a high-stakes vote expected on Wednesday in