The cryptocurrency sector may be set to grow significantly, hitting a record US$1 trillion in the next six months, according to a new survey by The Association of Financial Analysts. In total, the largest proportion of respondents (42 percent) expected the market to return to growth, either returning to the...
SummaryFocusOver the last decade, nominal interest rates have fallen to very low levels in many countries. Thus, central banks have seen their choices for the appropriate path of policy rates constrained by an effective lower bound, a level below which...
Music streaming giant Spotify has beat early targets with two upward revisions to its indicated opening price, raising its price per share from US4132 suggested yesterday to a range of US$160 - US$165 per share ahead of the first day of trading on the New York Stock Exchange. Following two...
The world’s 10th largest banking group Santander has announced plans to launch international payments using blockchain technology from cryptocurrency firm Ripple. The multinational banking group plans to launch a new app this spring and aims to be the first large retail bank “to carry out cross-border payments at scale with blockchain technology”...
Rising oil production worldwide may further outstrip demand in 2018, according to the latest figures from the International Energy Agency. The global economy is slowly recovering from historically high imbalances thanks to efforts by OPEC to limit production however the IEA highlighted that this trend may not continue for long. ...
Danish telecoms operator TDC has seen its share price rocket after the firm received an unsolicited bid from three pension funds and investment bank Macquarie. The firm’s board rejected the offer of DKr47 per share and saw shares rise 14.6 per cent on Thursday morning to DKr42.82. “Very interesting that a...
German car giants BMW and Daimler are finalizing details for a merger of their respective mobility operations, according to a source from BMW. The two carmakers are set to create a joint business for car-sharing, e-hailing, electric vehicle charging and digital parking services. “This will create an ecosystem which can also...
Dallas-based money transfer giant MoneyGram is to partner with blockchain firm Ripple to use its XRP crypto-token for international transfers. “Ripple is at the forefront of blockchain technology and we look forward to piloting xRapid... We’re hopeful it will increase efficiency and improve services to MoneyGram’s customers," Alex Holmes, chief...
The Dow Jones Industrial Average has breached the 25,000-mark for the first time ever, as strong data for U.S. private hires drove investor optimism. The record marks a 25% boost in less than a year since the blue-chip index crossed 20,000 as recently as early 2017 “We’re going through these milestone...
The U.S. Senate has approved the Trump administration's wide-ranging plans to overhaul the country's tax system paving the way for savings of 14% or more for some taxpayers. Democrats, voted against the measures en masse, calling it legislation designed to benefit the ultra-rich at the expense of the national deficit...