Bitcoin will likely become a global force for good once it’s treated as a transaction currency, according to the co-founder of Yahoo. “Bitcoin as a digital currency is not quite there yet,” Jerry Yang, who now heads AME Cloud Ventures, told CNBC on Thursday. “Personally, I am a believer in how digital currency can play […]
Read moreBookmaker GVC Holdings has offered to buy Ladbrokes Coral for up to $5.2 billion to create a global online and high street betting giant able to take on rivals and cope with a tougher regulatory environment. GVC, which boasts 79 million registered accounts and operates in 21 languages through names such as sportingbet and partypoker, […]
Read moreWall Street banks have raised objections to the introduction of bitcoin futures trading, highlighting fears that the financial system can’t cope with the cryptocurrency’s volatile price swings. Bitcoin has rocketed higher Thursday, crossing the $15,000 mark less than 48 hours after topping $12,000. The U.K.’s Financial Times has reported that a letter from the Futures […]
Read moreGamers can no longer pay with bitcoin on the gaming platform Steam. Steam, which is owned by developer Valve Corporation, said in a blog post Wednesday that it could no longer support the virtual currency because of its “high fees” and “volatility”. “In the past few months we’ve seen an increase in the volatility in […]
Read moreTax reform will fill shareholders' pockets but hit the middle classes, ex-US commerce secretary says
The United States’ proposed tax reform is projected to boost corporate earnings — and most of those savings are likely to go into shareholders’ pockets, said former U.S. Commerce Secretary Penny Pritzker. If the tax plan is passed, as many are expecting, the U.S. will see corporate taxes fall from current rates of 35 percent […]
Read moreHackers may have gotten away with $60 million worth of bitcoin after a cyber attack hit the cryptocurrency mining platform NiceHash. Users highlighted the cyber breach on Reddit and Twitter Wednesday, with some saying they could lose hundreds of dollars. NiceHash lets people offer computing capacity for bitcoin miners to mine digital currencies. Cryptocurrency miners […]
Read moreCurrency, United States Finance
Merkel could be ready to lead a minority German government, minister says
Chancellor Angel Merkel could lead a minority government if current coalition talks with the German Socialist party collapse, according to the country’s deputy finance minister. “If the Social Democrats aren’t willing to actually compromise with us on the necessary issues like the question of how we remain a strong economic power … Then there can’t […]
Read moreConsumption and innovation will be the two major growth drivers in China in the years ahead as the economic giant moves into its next phase of expansion, a JPMorgan Chase expert said Thursday. In the next three years, China’s consumption will grow from the current $4 trillion to $6 trillion — an addition that is […]
Read moreChina’s e-commerce giant Alibaba said on Thursday it signed an agreement with Ford Motor on strategic cooperation to jointly explore areas such as connectivity, cloud computing and artificial intelligence. “The agreement aims to explore new ways to redefine how consumers purchase and own vehicles, as well as how to leverage digital channels to identify new […]
Read moreLarge military drills being carried out by the United States and South Korea and U.S. threats of a preemptive war against Pyongyang have made the outbreak of war on the Korean Peninsula “an established fact”, North Korea‘s foreign ministry said. A spokesman for the North’s foreign ministry also blamed “confrontational warmongering” remarks by U.S. officials […]
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