Hackers have stolen millions, lawmakers are pushing for new taxes and regulations, and a leading financial official has called them a “Ponzi scheme”. But that hasn’t cooled a frenzy for bitcoin and other virtual currencies that is gripping young investors in South Korea. On a recent weeknight at Sungkyunkwan University in Seoul, more than a […]
Read moreThis year was a record-breaking year on all fronts for the ETF business: inflows of $476 billion, and assets under management swelling to $3.4 billion. For 2018, investors will continue to pour money into low-cost index ETFs. It will be great news for investors, who will benefit from even lower fees, but it will be […]
Read moreWall Street economists are warming to the idea that the Fed may raise interest rates four or more times next year, moving faster than its current forecast. The Fed has been forecasting three interest rate hikes for 2018, but the market has spent the past year doubting it will move even twice because of the […]
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High-flying Amazon‘s record run will continue into next year. That’s according to Todd Gordon, founder of TradingAnalysis.com, who says the charts are pointing to record highs for Amazon in early 2018. The online retailer has already surged 58 percent this year, and Gordon says the stock is poised to exceed the $1,200 mark. “[There has […]
Read moreVenezuela’s cryptocurrency will launch within days and be backed by 5.3 billion barrels of oil worth $267 billion, in a bid to offset a deep financial crisis, the socialist government said on Thursday. President Nicolas Maduro surprised many earlier this month when he announced the “petro” cryptocurrency, to be backed by OPEC member Venezuela’s oil, […]
Read moreChina on Friday denied reports it has been illicitly selling oil products to North Korea, after U.S. President Donald Trump said he was not happy that China had allowed oil to reach the isolated nation. Trump said on Twitter the previous day that China had been “caught” allowing oil into North Korea and that would […]
Read moreAsian markets have had a good run this year, shrugging off jitters faced at the end of last year over the potential trade and foreign policy implications the new administration of U.S. President Donald Trump would have on the region. While geopolitical uncertainty was a major focal point earlier this year — with several North […]
Read moreCurrency, United States Finance
European markets point to a positive open on last trading day of the year
European shares are expected to begin Friday’s session on a high note, as investors wave goodbye to 2017 and look ahead to what the New Year will bring for markets. On the bourses front, the U.K.’s FTSE 100 is expected to open 8 points higher at 7,626, while the German DAX is set to open […]
Read moreIf you are wondering which currency, other than the U.S. dollar, to hold at the start of a new year, past trades show you’ll be better off with euros. Using data analytics platform Kensho, CNBC looked at the average return when holding sterling, euros and the yen against the dollar at the start of a […]
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It took a social media post for the Philippine central bank to realize its mistake of circulating a bunch of defective, “faceless” banknotes. The 100-Philippine peso notes ($2) were missing the portrait of former president Manuel Roxas. Two words were also omitted from the country’s official name, according to a report by the AFP. The […]
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