European stocks fell at the open on Tuesday as traders turned cautious ahead of the release of US economic data likely to inform the Federal Reserve’s future decisions on interest rates. Europe’s region-wide Stoxx 600 benchmark fell 0.3 per cent in the first hour of trade and France’s CAC fell 0.4 per cent. Meanwhile, contracts
Good morning. I promised a more detailed set of thoughts on the local elections once all the results were in, and so that is the topic of today’s note. As a consequence, you’re all spared my grumbling about the Metropolitan Police’s policing of the coronation, for today at least. That said, I feel certain that
Binance has announced its intention of implementing Lightning Network, a layer 2 Bitcoin scaling protocol, on its platform after experiencing an episode of congestion regarding withdrawals on the Bitcoin network. The exchange had to pause bitcoin withdrawals twice due to a large backlog of operations stuck as a consequence of high transaction fees. Binance Announces
On the outskirts of every great city across the world are the towns, villages and communities that complete the character of a region and, without whom, such cities perhaps would not be quite so great. Los Angeles has the sun-soaked coasts of Santa Monica and Malibu, Paris has the densely populated Levallois-Perret and Geneva has
Good morning. Just a few years ago, if you mentioned the Federal Reserve’s Senior Loan Officer Opinion Survey — even in the FT newsroom — people’s eyes would glaze over by the time you got to the word “officer”. Now that we’re all waiting for a Fed-induced credit crunch, everyone is tossing around the term
Bankrupt Bitcoin (BTC) mining firm Core Scientific has objected to paying a $4.7 million administrative claim put forward by crypto lender Celsius Network, leading to a battle between the firms over contractual obligations. According to the objection, which was filed in Texas bankruptcy court on May 5, Core Scientific has asked that Celsius Network’s $4.7
The number of Ordinals inscriptions on the Bitcoin (BTC) network has witnessed another meteoric rise, almost doubling from 2.5 million to 4.78 million in just the last eight days. While the Ordinals protocol was initially used to mint images as non-fungible tokens (NFTs), users began to realize that they could use text-based inscriptions to create
Former House Representative Ron Paul has presented his stance when it comes to the financial crisis that the U.S. is currently facing. Paul stated that the continued application of quantitative easing (QE), a policy used to increase the money supply, and the decades of almost null interest rates, are what nurtured the current financial crisis
The Bank of England is set to raise interest rates to their highest level since 2008 on Thursday in the wake of official data last month that showed inflation remained stubbornly high. The expected increase in the cost of borrowing would represent the 12th successive boost by the central bank since it started raising rates
Work has been getting a bad press lately. We’ve had the “great resignation” trend, the “anti-work” movement, “quiet quitting” and a wave of strikes. It all seems to add up to a sense that work is getting worse and people are fed up with it. I was even asked to join a podcast discussion last
Staff burnout and demographic changes threaten a permanent contraction in the European health workforce, with the sector’s leaders warning they may never restore the capacity to treat patients to pre-pandemic levels. Across the continent, clinicians are confronting a damaging mismatch between demand and resources, with public spending cuts forcing them to consider different ways of treating patients.
There was a moment when Turkey’s election debate came down to an onion and a warship. It began when Kemal Kılıçdaroğlu, the man leading the charge to break President Recep Tayyip Erdoğan’s grip over Turkish politics, sat at his kitchen table last month, his shirt collar open, sleeves rolled up, and held up an onion.
The compensation bill for those affected by the NHS contaminated blood scandal could reach £10bn, according to officials, in a further blow to the UK’s stretched public finances. Ministers have accepted the “moral case” for compensating families of the victims of the scandal, in which tens of thousands of people were infected with HIV and
Bank of America has warned that the key threats to the U.S. dollar’s dominance are largely domestic, as opposed to competition from other currencies, including a BRICS currency. “U.S. fiscal brinkmanship, with risks for government shutdown, or even worse a default, keeps coming up during debt ceiling discussions,” the bank’s analysts stressed. Bank of America
Tesla and Twitter CEO Elon Musk has shared a “massive incentive” to move money out of bank accounts, citing a significant interest rate gap created by the U.S. Treasury and the Federal Reserve. “As more people & companies realize this, bank depositor flight will accelerate to extreme levels, even for banks that are ‘too big
A single trader just spent a staggering 64 Ether — equivalent to $118,000 — in gas fees purchasing $155,000 worth of a memecoin called Four (FOUR). According to an update from the popular blockchain tracking service ‘Whale Alert’, the lone trader paid an astonishing $119,157 in Ether (ETH) to complete a Unsiwap trade that swapped
Bittrex Inc., the U.S.-based cryptocurrency exchange, has filed for Chapter 11 bankruptcy protection in Delaware after being sued by the U.S. Securities and Exchange Commission for failing to register with the regulator. The exchange reportedly has over 100,000 creditors and liabilities ranging from $500 million to $1 billion. Bittrex Bankruptcy Filing Reveals Over 100,000 Creditors
UK consumer spending grew at about half the pace of inflation in April as fast-rising prices continued to suppress demand, even as the leisure sector noted some “renewed momentum”, according to new sector data. The value of retail sales increased 5.2 per cent in the year to April, according to figures compiled by KPMG and
Rishi Sunak has announced plans to cut the time it takes to see a GP in England as the prime minister hurried to deliver on his promise to cut NHS waiting lists before voters go to the polls in a general election expected by late next year. The measures will allow people suffering from a
Ripple CEO Brad Garlinghouse has revealed that his company is spending $200 million defending itself against the SEC in its lawsuit over xrp. The executive expects a decision on the lawsuit in three to six months. “If we win the lawsuit, it’ll be clear what xrp is, but the rest of the industry is still
Mexico’s supreme court on Monday declared unconstitutional part of an electoral reform law pushed by President Andrés Manuel López Obrador which advocates said threatened to undermine the country’s democracy. The justices voted 9-2, meeting the minimum threshold of eight votes under Mexican law, to strike down the bill, which completely restructured and shrank the electoral