Bitcoin Foundation Chairman Brock Pierce discusses the cryptocurrency market, its influence on politics, and provides an outlook of the market on ‘Cavuto: Coast to Coast.’ China and Russia may be working toward a new gold-backed currency in a move that would aim to dethrone the dollar as the primary reserve currency of the world, but...Read More
Amazon posts profit but revenue was weaker than expected NEW YORK — — Amazon returned to profitability after two consecutive quarters of losses this year, but its stocks tanked due to weaker than expected revenue as well as the company’s disappointing projections for the current quarter. Amazon reported revenue of $127.1 billion, less than the...Read More
MEXICO CITY, Oct 28 (Reuters) – Mexico’s economy likely grew between July and September for the fourth consecutive quarter, though at a slower rate due to a slowdown in the United States, a Reuters poll showed Friday. Gross domestic product (GDP) (MXGDQP=ECI) is expected to have grown 0.6% quarter-over-quarter in seasonally adjusted terms, down from...Read More
Japanese Prime Minister Fumio Kishida’s government approved on Friday a hefty economic package that will include about 29 trillion yen (USD 200 billion) in government spending to soften the burden of rising utility rates and food prices. Globally surging prices and a weakening of the yen have amplified costs for imports, pushing inflation higher. The...Read More
Mark Zuckerberg speaks during a virtual Meta Connect event in New York on October 11. Michael Nagle/Bloomberg/Getty Images Facebook/Instragram/WhatsApp owner Meta Platforms (META) is hurting right now. Growth has stagnated. Users and advertisers aren’t particularly happy. The company’s push into the metaverse, i.e. virtual/augmented reality, has turned out to be a money pit. Meta’s Reality...Read More
Apple’s iPhone sales rose 10% as consumers snatched up the new iPhone 14 ahead of a rocky holiday shopping season, marked by an uncertain global economy and nagging inflation. The three months of Apple’s fiscal fourth quarter included the launch of its new $399 Apple Watch Series 8, updated $249 AirPods Pro, and newly announced $799...Read More
Comment on this story Comment Mortgage rates topped 7 percent this week, the highest level in 20 years — and the latest sign that the Federal Reserve’s aggressive moves to slow the broader economy are hitting the housing market hard already. The average rate for a 30-year fixed mortgage, the most popular home-loan product, reached...Read More
Cedi appreciating against US Dollar – Forex Bureau Association The Forex Bureau Association of Ghana has disclosed that the exchange rates have reacted positively, with an appreciation of the Cedi, following ongoing engagements between the government and key stakeholders. According to the President of the Forex Bureau Association of Ghana, K. T. Dadzie, whilst it...Read More
The DXY has printed a fresh monthly high below 109.56 amid a positive risk impulse. An absence of a risk aversion theme has pushed 10-year US Treasury yields lower to 4%. The release of the US GDP and Durable Goods Orders data will keep the DXY on the tenterhooks. The US dollar index (DXY) has...Read More
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