Bitcoin slumped for a second day Thursday, taking the digital currency’s losses to more than 10% over 48 hours and wiping off billions of dollars from the crypto market. The price of bitcoin slipped 8% on Thursday to as low as $31,007, falling below the $32,000 level for the first time since Jan. 11, according to […] Read more
Thinking of investing in a cryptocurrency? Be prepared to lose all your money. That’s the message from the U.K.’s Financial Conduct Authority, which on Monday warned investments and lending products related to crypto come with “very high risks.” “The FCA is aware that some firms are offering investments in cryptoassets, or lending or investments linked […] Read more
LONDON — The Irish foreign minister said a post-Brexit trade deal is expected Thursday, after a “last-minute hitch” delayed an announcement. Simon Coveney told RTE radio it will be an “enormous relief” when the deal is finally announced. Press conferences originally slated for early Thursday have been delayed as both sides finalize the “small text” of […] Read more
British grocery stores are stockpiling food amid the possibility of a no-deal scenario as Brexit trade deal negotiations between the EU and U.K. go down to the wire. The supermarkets have reportedly been told by government ministers to hoard non-perishable goods, according to the Sunday Times newspapers, with lawmakers saying a “no-deal Brexit is on […] Read more
Bitcoin has plunged by close to $3,000 in less than 24 hours after hitting highs not seen since the end of 2017. The price of bitcoin was trading at $19,374 at 1:45 p.m. London time Wednesday when it began its slide. The losses accelerated overnight, with the price falling from $18,824 at 2 a.m. Thursday to […] Read more
U.S.-China trade tensions are set for more predictability after Joe Biden’s presidential win — which likely means calmer rhetoric in a continued tough stance on Beijing. Following years of brewing U.S. complaints about unfair business practices by China’s state-dominated system, President Donald Trump stepped up pressure on Beijing with policy measures that were often abruptly first floated through […] Read more
There’s further economic pain ahead for European countries as France and Germany announce new nationwide lockdowns and other governments consider doing the same. The latest measures to address the second wave of Covid-19 infections in Europe could lead to higher unemployment, the permanent closure of many businesses and even more national debt. “Scarring will occur […] Read more
The number of reported coronavirus cases around the world has hit 40 million, according to a tally kept by Johns Hopkins University. The grim milestone of 40,050,902 confirmed cases on Monday comes as various parts of Europe and the U.S. struggle to deal with an alarming surge in infections. The dreaded “second wave” began in August […] Read more
The 2020 Nobel Prize in Economic Sciences has been awarded to Paul R. Milgrom and Robert B. Wilson for work on commercial auctions. The American economists were commended for their “improvements to auction theory and invention of new auction formats,” the Nobel Committee said. Milgrom, 72, is the Shirley and Leonard Ely professor of humanities […] Read more
British Prime Minister Boris Johnson insisted Tuesday that his bout of Covid-19 has not robbed him of his mojo, while outlining new spending pledges aimed at restoring the economy to a stronger position than prior to the pandemic. Speaking to the Conservative Party annual conference, Johnson used his own experience with the virus to illustrate […] Read more