Author: Press Room

U.S. stocks finished mostly lower on Thursday, kicking off the final month of a brutal year for investors on a downbeat note. The Dow Jones Industrial Average DJIA, +1.00% fell about 194 points, or 0.6%, ending near 34,395. The S&P 500 index SPX, +1.30% fell 0.1%, while the Nasdaq Composite Index COMP, +2.19% rose 0.1%, according to FactSet. Stocks rallied sharply on Wednesday after Federal Reserve Chairman Jerome Powell indicated the central bank may soon downsize its pace or rate hikes after a series of jumbo increases of 75 basis points to the Fed’s policy rate. That has brought the…

The first Chinese-made passenger jet has taken to the skies on its inaugural commercial flight, in a symbolic moment for China’s technological independence after years of delays for the project.The single-aisle C919 flew from Shanghai to Beijing on Sunday following more than a decade of development and an estimated $72bn in support from Beijing.The aircraft has boosted the aspirations of Chinese leader Xi Jinping as he aims for technological self-sufficiency for his country in the face of intensifying trade tensions with the US. The prospect, albeit long term, of a Chinese passenger jet industry could pose a threat to the…

© Reuters. FILE PHOTO: The sun sets behind the U.S. Capitol building in Washington, U.S., October 6, 2021. REUTERS/Leah Millis/File Photo By Steve Holland, Gram Slattery and Katharine Jackson WASHINGTON (Reuters) -U.S. President Joe Biden and top congressional Republican Kevin McCarthy reached a tentative deal to suspend the federal government’s $31.4 trillion debt ceiling on Saturday evening, ending a months-long stalemate. However, the deal was announced without any celebration, in terms that reflected the bitter tenor of the negotiations and the difficult path it has to pass through Congress before the United States runs out of money to pay its…

While it’s evident that NFTs lost the glory they once had, Animoca Brands co-founder Yat Siu defended the non-fungible token market during a Bloomberg interview with host Caroline Hyde. According to Siu, the NFT world remains strong despite the faded activity. He highlighted that the industry continued to rake up massive sales. He revealed that the non-fungible token industry made $24 billion in sales in  2022. The co-founder stated that 4.7 billion of NFT sales took place in Q1 2023. That means individuals continue to see value in these assets. Moreover, NFT owners and creators enjoy 90% of the generated…

Five months after raising the DAI savings rate (DSR) to 1%, the MakerDAO community is expected to soon vote on a new proposal that seeks to increase the DSR further to 3.33%. The last rate hike saw 35 million DAI stablecoins deposited in a span of a month and if the new proposal is to sail through, it could have much broader implications for rates across the DeFi space. Upcoming Executive MakerDAO Vote In a tweet on May 26, the Maker team revealed that there is an upcoming executive vote that will raise the DSR if approved. According to the…

© Reuters Investing.com – The much-awaited deal to raise the U.S. debt ceiling is in, President Joe Biden said on Saturday, potentially setting equity and commodity markets on a new wave of risk-taking – after weeks of fear about a government default on payments. “Earlier this evening, Speaker McCarthy and I reached a budget agreement in principle,” Biden said in an announcement on Twitter, barely 24 hours after Treasury Secretary Janet Yellen said the administration had until June 5 to avoid default.  Republican congressional leader Kevin McCarthy and Democrats led by Biden and Senate Majority Leader Charles Schumer have been…

In the volatile world of cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) have recently shown a notable spike, with both digital assets experiencing a nearly 2% increase in their prices. This upward movement has left investors wondering if there is further upside potential shortly. As the two leading cryptocurrencies continue to attract attention and dominate the market, it’s crucial to analyze the factors driving their recent surge and assess the possibilities for continued growth. Let’s delve into the current trends and predictions for Bitcoin and Ethereum.Bitcoin Price The current price of Bitcoin stands at $27,201, with a trading volume of $9.7 billion over the past…

© Reuters. FILE PHOTO: A Russian state flag flies over the Central Bank headquarters in Moscow, Russia March 29, 2021. A sign reads: “Bank of Russia”. REUTERS/Maxim Shemetov By Elena Fabrichnaya and Alexander Marrow MOSCOW (Reuters) – Pressure on foreign banks operating in Russia and the widening scope of sanctions is aggravating foreign currency settlements in Russia and creating periodic imbalances on the domestic market, the central bank said on Friday. Western sanctions on Moscow over its actions in Ukraine have curbed its use of dollars and euros, with settlements in currencies Russia considers “friendly” – those of countries that…

The cryptocurrency industry witnessed another massive security attack, with Jimbos, an Arbitrum-based protocol, being the latest victim. The suspected hack breached the liquidity protocol, resulting in enormous losses of around 4,000 Ethereum (ETH), worth around $7.5M. The jimbos protocol, the Arbitrum liquidity protocol, was suspected of being attacked and more than 4,000 ETH (approximately $7.5 million) was stolen. PeckShield: This hack is due to the lack of slippage control of liquidity-shifting operation — such that the protocol-owned…— Wu Blockchain (@WuBlockchain) May 28, 2023 Meanwhile, blockchain security company PeckShield highlighted the exploit, revealing crucial protocol weaknesses. The firm tweeted that the…

ssuaphoto/iStock via Getty Images Tensions are rising between Saudi Arabia and Russia, as Russia continues to pump huge volumes of cheaper crude oil into the market and undermining Saudi efforts to boost prices, The Wall Street Journal reported Saturday. Saudi Arabia reportedly has expressed its anger to Russia for not keeping its previous pledge to curb production in response to Western sanctions, ahead of a crucial OPEC+ meeting set for Vienna on June 4. Earlier this week, the Saudi energy minister issued a warning to oil speculators, signaling to the market that a further production cut was possible, but Russia’s…