Driverless taxis are set to totally transform the landscape of mass transit systems, according to a study. Self-driving taxi services – such as those Uber has tried to roll out in the U.S. – could offer fares at a fraction of the cost of those offered by public transport networks today, UBS said in a […]
Read moreA decision by Japanese authorities is helping the country cement its place as a driving force for bitcoin, at a time when China is turning its back on virtual currencies. On Friday, Japan’s Financial Services Agency (FSA) officially recognized 11 companies as registered cryptocurrency exchange operators. The registration places several requirements on the companies, such […]
Read moreU.S. consumer spending barely rose in August likely as Hurricane Harvey weighed on auto sales and annual inflation increased at its slowest pace since late 2015, pointing to moderation in economic growth in the third quarter. The Commerce Department said on Friday consumer spending, which accounts for more than two-thirds of U.S. economic activity, edged […]
Read moreElon Musk’s biggest critics argue some of his larger than life ideas may be less than feasible, but on Friday the billionaire put his money where his mouth is. The tech mogul started on his promise to build the world’s largest lithium ion battery plant for South Australian, in less than 100 days — or […]
Read moreCurrency, United States Finance
Brexit talks finally see some progress — here's what you need to know
Brexit officials for both the U.K. and the EU have claimed some progress in the latest round of talks – somewhat a change in tone, but only a small step in the right direction given the amount of work that lies ahead. David Davis, the U.K.’s Brexit secretary, told reporters Thursday that negotiators had achieved […]
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Merkel's chief of staff to reportedly take over as acting German finance minister
Peter Altmaier, German Chancellor Angela Merkel’s chief of staff, will take over as acting finance minister from Wolfgang Schaeuble when he leaves office, German newspaper Sueddeutsche Zeitung reported on Friday. It said, without citing its sources, that Merkel had made the decision. On Wednesday 75-year-old veteran conservative Schaeuble agreed to become president of the parliament […]
Read moreApple received its highest ever number of U.S. government national security requests for data in the first half of the year, the company revealed Thursday. The U.S. technology giant said it received between 13,250 and 13,499 requests affecting between 9,000 and 9,249 accounts, according to its transparency report. Apple is not allowed to disclose the […]
Read moreVirtual currency enthusiasts could soon have a new way to trade their favorite digital tokens. A U.S.-based start-up, AirSwap, is trying to create a decentralized exchange where users can do peer-to-peer trading of virtual tokens. It plans to use smart contracts on the Ethereum blockchain to pair up buyers and sellers automatically, eliminating the need […]
Read moreTwo of Japan’s key political opposition vehicles combined on Thursday in a bold attempt to win power from Prime Minister Shinzo Abe’s ruling Liberal Democratic Party at upcoming lower house elections. It’s a dramatic development for the world’s third-largest economy, where a lack of strong resistance has characterized Abe’s five-year reign. While many still believe […]
Read moreOne year after the state of South Australia suffered a major blackout, construction has started on building the world’s biggest battery to help keep the lights on in Australia’s most wind-dependent state. Tesla won a bid in July to build a 129 megawatt hour battery and the state is counting on it to be ready […]
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