Last week, I quoted a recent speech by US national security adviser Jake Sullivan, in which he asked, “How does trade fit into our international economic policy, and what problems is it seeking to solve?” As I’ll argue here, we should start by seeking to solve the problem of concentration and competition. Leaving aside the question
Increasing regulatory pressures, tax burden and energy costs in countries like the U.S. and Kazakhstan are likely to result in a new great migration of crypto miners, Russian analysts believe. Under such a scenario, Russia has what it takes to occupy up to 18% of the global bitcoin hashrate, they claim. Russia May Attract Half
His ears are smaller. And there is no crown. But on Wall Street, at least, Jamie Dimon is America’s answer to King Charles III — adulated by some, resented by others, but incontrovertibly powerful. Days before the British monarch’s coronation, Dimon cemented his royal status in finance with another landmark deal for JPMorgan Chase, the
It started, as so many disputes between neighbours do, with a shared driveway. To reach Peter Nygard’s six-acre property in the Bahamas, with its smoking volcanoes, Mayan temple and pools where a glass barrier once reputedly separated swimmers from sharks, guests needed to take a road owned by the man next door, the billionaire hedge
ExxonMobil’s top executives went into the company’s yearly shareholder’s meeting in May 2021 confident it was set to win a proxy fight with activist investors over its approach to climate change. Then the votes started rolling in and it soon became clear that Exxon had a full-blown revolt on its hands. Engine No 1’s campaign
A two-year rally in US oil and gas stocks is coming to a halt as falling crude prices and fears of a slowdown in the world’s biggest economy threaten producers’ ability to maintain bumper shareholder payouts. The S&P 500’s energy sector — consisting of oil and gas groups — was the market’s best performer in
The G7-led price cap on Russian oil exports has forced the Kremlin to raise the tax burden on producers, dealing a fresh blow to an energy sector already struggling with western sanctions, according to officials from the western coalition. An analysis of the tax change by a member of the G7-led coalition, which was shared
A sudden spike in Bitcoin (BTC) transaction fees and unconfirmed transactions sparked concern on Crypto Twitter over the weekend of a potential Denial of Service (DoS) “attack” on the network. Some Bitcoin analysts and commentators have been quick to allay these fears from their respective followers. Bitcoin average transaction fees are currently $19.20, or 0.00068
Bitcoin (BTC) withdrawals on Binance have again been temporarily shuttered as the crypto exchange claimed it was due to a large backlog of pending withdrawals. Binance tweeted on May 8 that it closed off BTC withdrawals “temporarily” as there was a “large volume of pending transactions.” It added the transactions are still pending as its
As so-called “memecoins” capture the attention of the wider crypto industry in recent weeks, a viral video has emerged detailing just how easy it is for anyone with an internet connection to create a brand new cryptocurrency from scratch. A May 6 video from digital artist Johnny Shankman — who goes by @whitelights.eth on Twitter
New York State Attorney General Letitia James has proposed “landmark” crypto legislation that claims to be “the strongest and most comprehensive set of regulations on cryptocurrency” in the United States. “Rampant fraud and dysfunction have become the hallmarks of cryptocurrency and it is time to bring law and order to the multi-billion-dollar industry,” said Attorney
The chief executives of five leading EU tech groups have called for Brussels to amend proposed data-sharing legislation, saying the new rules would force them to give up trade secrets and hand a competitive advantage to China. The intervention by the heads of SAP, Brainlab, Datev, Siemens and Siemens Healthineers — a separate company —
Brussels has proposed sanctions on Chinese companies for supporting Russia’s war machine for the first time since the war in Ukraine began, a development that is likely to increase tensions with Beijing. Seven Chinese businesses accused of selling equipment that could be used in weapons have been listed in a new package of sanctions to
The Nigerian payments startup, Nomba, is reported to have raised $30 million via a pre-Series B that was led by Base10 Partners. The new solution is expected to help the startup operate more efficiently and deliver “excellent customer experiences.” Plugging Gaps in Payment Processes Nomba, a Nigerian payments startup, has raised a US$30 million pre-Series
A Labour government would increase the stamp duty paid by foreign buyers of UK property while also restricting the sale of new-build properties to overseas investors under plans being drawn up for the party’s general election manifesto. Keir Starmer, Labour leader, wants to tackle Britain’s property affordability crisis, which has made it increasingly difficult for
In this episode, we are going to be going over reading the stock market trading conditions or, in other words, the road conditions in the market. It’s important for you to know these road conditions or market conditions in the stock market because you are looking at evaluating and understanding the environment, you are understanding
Louisiana Republican senator John Kennedy recently stated in an interview published on Wednesday that the U.S. Federal Reserve may need to increase the federal funds rate to 8-10% to address the country’s inflationary pressures. Kennedy’s remarks come after he criticized the Biden administration in mid-March for bailing out Silicon Valley Bank and Signature Bank, emphasizing
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This video explains what the Alligator Indicator is, what it’s for and how to use it. The video includes a demonstration with a chart of real-market prices to show how the indicator may provide information about the state of the market and how to read the indicator’s signals for trading a trend. Try the Alligator
US Treasury secretary Janet Yellen has warned of a “constitutional crisis” that risks economic and financial catastrophe if Congress does not raise the federal debt limit, with the government in danger of running out of cash in the absence of new borrowing capacity. The White House and Republican lawmakers are in a stalemate over lifting
Powerful artificial intelligence systems can be of enormous benefit to society and help us tackle some of the world’s biggest problems. Machine learning models are already playing a significant role in diagnosing diseases, accelerating scientific research, boosting economic productivity and cutting energy usage by optimising electricity flows on power grids, for example. It would be