Those who mine cryptocurrencies with power intended for domestic use will pay hefty fines, the Iranian government warned. The country is experiencing shortages due to reduced hydropower generation as authorities register a surge in electricity consumption for cryptocurrency mining. Crypto Miners to Pay for Damages to the Power Grid Hydropower plants in Iran have been
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Crypto derivatives exchange FTX has launched a futures contract that allows Brazilian voters and traders in jurisdictions where the platform is available to bet on the outcome of Brazil’s next presidential election. With health and financial crises looming in the country, Jair Bolsonaro’s second term as head of state is far from certain. FTX Launches
In a possible policy shift, the Central Bank of Nigeria (CBN) recently allowed the local naira currency to briefly drop to a new low of USD$1 for 419.75 nairas on May 14, 2021. However, by close of business the naira had recovered and was trading around 411.25. Before the latest adjustment, the naira had fluctuated
The leading cryptocurrency bitcoin has dropped 20% in value after Tesla announced on May 12, the electric car firm would not be accepting bitcoin for purchases. Two days later, the creator of the notorious stock-to-flow cross-asset (S2FX) price model, Plan B, shared his model and said the S2FX was still “intact.” Plan B still shows
A trader works at the Goldman Sachs stall on the floor of the New York Stock Exchange. Brendan McDermid | Reuters Goldman Sachs has formally kicked off the cryptocurrency trading era on Wall Street. The bank informed its markets personnel on Thursday that a newly created cryptocurrency trading desk had successfully traded two kinds of
SEC Chairman Gary Gensler told CNBC on Friday the agency is looking into how commission-free retail brokerage apps encourage more stock trading and then make money off m the execution of those trades. “There is a little bit of a conflict of interest,” Gensler said on “Squawk Box,” one day after testifying about this issue
Server Nioka Mantilla arranges items in the buffet at the DoubleTree by Hilton Hotel on Penn Street in Reading, Pennsylvania, Friday morning May 7, 2021. Ben Hasty | MediaNews Group | Reading Eagle via Getty Images The stunningly disappointing April jobs report shouldn’t be taken as an indictment against the fast-moving economic recovery but shouldn’t
Harley Finkelstein, COO, Shopify Scott Mlyn | CNBC Investors should take note when an analyst becomes bullish on a stock after standing on the sidelines. It could signal the name is undervalued and poised for long-term growth. The stocks highlighted below have just been upgraded to Buy. As for the analysts handing out these upgrades,
Cathie Wood Source: CNBC Cathie Wood’s flagship fund Ark Innovation hit its lowest point of the year on Monday amid further selling in innovation stocks. Ark Innovation‘s drop of as much as 5% on Monday dragged the “disruptive innovation” ETF below its February low, a level that many investors are watching as a barometer for
Virgin Galactic’s spacecraft outside Spaceport America in New Mexico. Virgin Galactic Virgin Galactic stock drop after reporting first quarter results accelerated in early trading on Tuesday, with the company’s next spaceflight test – and its broader path to beginning commercial flights – possibly delayed further. The space tourism company gave an update on progress toward
In this article DPZ Bill Ackman, founder and CEO of Pershing Square Capital Management. Adam Jeffery | CNBC Billionaire hedge fund manager Bill Ackman said his Pershing Square built a 6% stake in Domino’s Pizza, swapping out its Starbucks bet. Ackman revealed his hedge fund sold Starbucks after the coffee chain’s swift rebound from the
The PayPal application can be seen on a mobile phone. Felix Kästle | picture alliance | Getty Images PayPal is making another acquisition in the e-commerce space as it moves beyond payments and into physical and online retail. The digital payments giant announced a deal to acquire start-up Happy Returns on Thursday for an undisclosed
In this article DUK A view of Duke Energy’s Marshall Power Plant in Sherrills Ford, North Carolina, November 29, 2018. Chris Keane | Reuters Company: Duke Energy Corp. (DUK) Business: Duke operates as an energy company in the United States that is the product of a merger with Cinergy in 2006; a merger with Progress
Spencer Platt | Getty Images With fears of inflation on the rise, investors are searching for strategies to pinpoint compelling opportunities. One such strategy is to look for stocks that appear underappreciated by the Street and have plenty of room to run. The following names meet the requirements and have the support of analysts with
In this article PEP A trader works on the floor of the New York Stock Exchange. NYSE Everyone knew earnings were going to be good, but this is really good. “There’s evidence every day that growth is clearly improving around the world, today from the US to Australia,” Ed Hyman, chairman and head of the
Traders on the New York Stock Exchange. Source: NYSE This is a very powerful rally. The combination of surprisingly strong economic reports and even more surprisingly strong earnings reports is pushing broad swaths of the U.S. stock market to new highs. Even the technicians are impressed. “The vast majority of NYSE stocks are in intermediate-term
Traders on the floor of the New York Stock Exchange. Source: NYSE The market is showing some signs of exhaustion, and with good reason. Most major parts of the market have run up significantly in the past month. But there is a growing chorus warning that we are at “peak everything.” That is, peak earnings
Traders on the floor of the New York Stock Exchange. Source: NYSE The reopening story is now getting very real, at least for Wall Street. Today’s crop of earnings reports are chock-full of companies reporting earnings above expectations and, most importantly, raising guidance. Take steel maker Nucor, which reported what CEO Leon Topalian called the
President Joe Biden addresses a joint session of Congress at the U.S. Capitol in Washington, U.S., April 28, 2021. Doug Mills | Reuters If the stock market is considered a barometer of success, Joe Biden’s first 100 days in office is starting off with a bang…a big bang. Since the election, the S&P 500 is
Traders on the NYSE, May 3, 2021. Source: NYSE It’s not just about earnings anymore: Dividends and huge inflows are helping stocks power forward. April trading data is in, and it shows two surprises: an increase in dividends, and huge inflows into equities that are even stronger than the first three months of the year.