Ethereum Classic (ETC) continues to reap benefits from its blockchain rival Ethereum’s upcoming transition from proof-of-work (PoW) to proof-of-stake (PoS). Vitalik Buterin likes Ethereum Classic Notably, ETC’s price jumped by a little over 20% to reach $27.50, two days after Ethereum co-founder Vitalik Buterin’s endorsement of Ethereum Classic went viral across social media. In his
Norway’s Equinor and Spain’s Iberdrola revealed bumper profits on Wednesday as the energy groups benefited from turmoil in commodity markets in the wake of Russia’s invasion of Ukraine. State-controlled Equinor said it would return an additional $3bn to shareholders as it reported adjusted pre-tax earnings of $17.6bn in the three months to the end of
The world’s biggest oil and gas companies are generating more money than ever while spending relatively little of it. European supermajors BP, Shell and TotalEnergies have each pledged to become green businesses over the next three decades but are still investing only a fraction of their capital on renewable energy. With each expected to report
The global cryptocurrency ATM market is projected to grow at a rapid rate over the next five years, as market research predicts the space to be worth half a billion dollars by 2027. Research and Markets published a new report, which estimates a compound annual growth rate of 59% for the industry from 2022 to 2027.
European gas prices jumped further on Wednesday after Russia followed through on its threat to make further cuts in gas supplies to the region. Gas prices rose 12 per cent early on Wednesday and have risen by more than a third this week from already extremely elevated levels as Europe struggles to fill gas storage
The University of Tokyo will offer a series of engineering courses using metaverse tech. The courses, which are projected to start being offered later this year, will introduce students to the subjects of engineering and will combine this knowledge with the skills to handle metaverse-based worlds, to manage the digital transformation that work and educational
Lloyds Banking Group has beaten quarterly profit estimates and updated full-year guidance as interest rate rises and an increase in mortgages boosted the UK lender. Second-quarter pre-tax profit rose to £2.04bn, inching up from £2.01bn a year earlier but beating consensus of £1.6bn. Revenues for the three months to June rose 10 per cent to
Bitcoin (BTC) attempted to claw back losses on July 27 as a macro day of reckoning arrived for risk assets. Analysis: $24,300 resistance “not a good sign” Data from Cointelegraph Markets Pro and TradingView confirmed a 24-hour high for BTC/USD prior to the Wall Street open on July 27. The pair had sunk below $21,000
Most apartments in China are sold before developers finish building them. Pictured here on June 18, 2022, are people selecting apartments at a development in Huai’an, Jiangsu province, near Shanghai. Future Publishing | Future Publishing | Getty Images BEIJING — China’s property sales are set to plunge this year by more than they did during
About 53% of South Africans have little to no knowledge about cryptocurrency, while only 14% thought or felt they had a better understanding of the subject, a report has said. Nearly half of the respondents said they would only invest in cryptocurrency if or when their respective banks are involved. South Africans Weigh In on
Deutsche Bank has ditched an already reduced target for cost cuts this year as Germany’s largest lender warned that it was braced for “higher-than-expected bank levies, inflation, unforeseen costs related to the war in Ukraine and litigation matters”. The combination of factors has rendered its ambition of bringing costs down to 70 per cent of
Credit Suisse announced plans for a “comprehensive” review of its businesses as the troubled Swiss bank installed Ulrich Körner as chief executive and slumped to a far larger second-quarter loss than expected. Körner, who heads Credit Suisse’s asset management business, will take over from Thomas Gottstein, who is stepping down after leading the bank through
The writer is the founder of Sahm Consulting and a former Federal Reserve and White House economist Some commentators argue that the US needs a recession to bring inflation down. That thinking hinges on a simplistic model of the economy and a refusal to see Covid and the war in Ukraine as important sources of
The Biden administration has bolstered efforts to sign big oil importers on to a plan to cap prices they offer for Russian crude, concerned that without it the world faces a damaging surge in fuel costs. Negotiations are under way between the US and China, India and other countries that have been buying up discounted
The old riverside customs and excise office in South Shields, once one of the world’s most important shipbuilding hubs, boasts a mosaic that tells the port’s maritime story. In the middle there is the River Tyne, before it was blackened by shipyards and coal, teeming with salmon. “There was a time when they used to
The Sumitomo Mitsui Banking Corporation (SMBC), the second largest of the three biggest banks in Japan, has announced it is planning to expand into digital asset businesses, including non-fungible tokens (NFTs) and Web3 platforms. The company will partner with Hashport, a group that offers tokenization and listing services in Japan, to launch a token business
Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, has warned that the U.S. Securities and Exchange Commission (SEC) will come up with rules for token registration that will be “the nightmare that’s waiting for the crypto industry.” Mark Cuban Foresees SEC Coming Up With ‘Nightmare’ Crypto Regulation Billionaire Mark
Banks in Singapore raised housing loan rates in June, following the U.S. Federal Reserve’s decision to increase interest rates by 75 basis points in the same month to cool inflation — its most aggressive hike since 1994. Nurphoto | Nurphoto | Getty Images Homeowners in Singapore are starting to tighten their belts as they will
A new bipartisan bill has been introduced in the Senate that would simplify the use of cryptocurrency for everyday purchases by creating tax exemption for personal crypto transactions under $50 as well as when the capital gains are less than $50. New ‘Virtual Currency Tax Fairness Act’ A new bipartisan bill, known as the “Virtual
Microsoft shrugged off worries about the effects of a weakening economy with a confident forecast for its latest fiscal year on Tuesday, sending its shares up more than 6 per cent in after-hours trading. The optimism came despite a sharp contraction in the personal computer market, the strength of the US dollar and signs of