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UK political stability (relative to elsewhere) will support UK markets ahead
In a note from Bank of America ahead of the election, it was said that the election seemed to be a minor event for the UK markets. This was true given that opinion polls were overwhelmingly in favour of the new government. Bank of America concluded by saying that one…
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Bitcoin rally hinges on rate cut, Bitfinex exec says
Macroeconomic uncertainty in the US has pushed Bitcoin to a two-month low, but slowing inflation suggests monetary policy could soon boost risk appetite. Bitcoin (BTC) price fell below $57,000 after the US Federal Reserve minutes confirmed that interest rates will remain at their current levels until economic data justifies more…
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Dragons’ Den star Peter Jones’ camera chain Jessops faces closure over unpaid taxes
Jessops, the 89-year-old camera retailer owned by Dragons’ Den star Peter Jones, is on the verge of closure after HMRC issued a winding-up petition for the company over non-payment of taxes. The development marks a critical turning point for the struggling retailer, which has entered administration three times in the…
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SoftBank in talks to get its hands on large volumes of Nvidia’s GPUs: Report By Investing.com
Japanese technology investor SoftBank (TYO:) is in discussions to find a way to secure a large amount of graphics processing units (GPUs) from Nvidia that are essential for the development of artificial intelligence (AI). The latest move appears to be part of a broader plan by CEO Masayoshi Son to…
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Are Bitcoin Miners Capitulating Amid the Drop Below $60K?
The Bitcoin network is showing some signs of miner capitulation. This phase is characterized by miners either stopping work or selling a portion of their Bitcoin reserves. Interestingly, this process has historically been associated with Bitcoin prices hitting bottom, after which the asset is expected to resume its much-needed upward…
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Lenders in holding pattern while everyone awaits spate of new data
Article Content Government bond yields, which are driven by fixed mortgage rates, have risen 33 basis points in just a few weeks. Yet Canada’s most competitive mortgage lenders still have enough profit margins to justify lower fixed rates. In the past week alone, we’ve seen the five most popular fixed…
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Economic calendar in Asia 05 July 2024 while we wait for the US employment data
High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Polkadot Pulls A Prank? Rebrand Sends Crypto Twitter Into A Frenzy
The crypto world is never short of drama, but Polkadot, the ambitious blockchain protocol that aims to reshape Web 3, has managed to stir up controversy in an unexpected way recently. This time, it wasn’t a groundbreaking technological achievement, but a social media post that sent shockwaves through the industry…
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Polkadot Pulls A Prank? Rebrand Sends Crypto Twitter Into A Frenzy
The crypto world is never short of drama, but Polkadot, the ambitious blockchain protocol that aims to reshape Web 3, has managed to stir up controversy in an unexpected way recently. This time, it wasn’t a groundbreaking technological achievement, but a social media post that sent shockwaves through the industry…
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Bribery case against Shikun & Binui closed, subsidiaries penalized
The Tax and Economic Prosecutor’s Office has closed a bribery case against Shikun & Binui (TASE: SKBN), a real estate and infrastructure developer. Meanwhile, an indictment was filed today against Shikun & Binui’s subsidiary SBI Infrastructure, as part of a plea deal, charging the company with conspiracy to commit a…
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Saks owner to buy luxury retailer Neiman Marcus in $2.65-billion deal By Reuters
(Reuters) – Saks Fifth Avenue parent HPC Inc said on Monday it will acquire department store chain Neiman Marcus Inc in a $2.65 billion deal, giving it stronger negotiating power with vendors and greater control over costs. The deal comes as luxury retailers face slowing demand as higher interest rates…
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Navigating Bitcoin Script Improvement With Lightning Labs’ Ryan Gentry
In a recent interview with Bitcoin Magazine, Ryan Gentry from Lightning Labs He shared his views on various proposals aimed at enhancing Bitcoin’s scripting capabilities, with a particular focus on the approach taken by Rusty Russell’s new proposal, the Great Script Recovery Project. This initiative has galvanized the Bitcoin development…
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Canadian General Investments: Investment Update
TORONTO, Canada, July 4, 2024 (GLOBE NEWSWIRE) — Canadian General Investments Limited (CGI) (TSX: CGI) (LSE: CGI) announced today that its net asset value (NAV) per share as of June 30, 2024 was $62.50, resulting in year-to-date and trailing 12-month NAV returns, including dividends reinvested, of 13.3% and 14.2%, respectively.…
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Video: Where to camp out in a cyclical slowdown and what AI will do to the economy
I spoke with Andy Bell at BNNBloomberg yesterday for a wide-ranging interview about the state of global markets and what will happen in a cyclical downturn. I also touched on the disruption caused by artificial intelligence and why central bankers are wrong about inflation. Some highlights: Canadian Dollar and Interest…
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Mt. Gox Starts Repayments With Exchange Transfer
According to data from Arkham Intel, Mt. Gox has begun the process of repaying creditors by transferring a token amount of bitcoin to a designated exchange. The development comes after months of speculation and planning about disbursing the roughly $8.2 billion in bitcoin owed to the collapsed exchange’s creditors. Have…
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Better Artificial Intelligence Stock: Nvidia vs. SoundHound
both of them SoundHound (NASDAQ: SON) And Nvidia (NASDAQ: NVDA) Two companies are directly benefiting from AI. One is making the chips needed to make the future of AI possible. The other has developed its own AI platform that can power everything from cars to drive-thru windows. if you want…
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Analysis-UK election brings few hopes or fears to cautious City of London By Reuters
By Sinead Cruz and Hugh Jones LONDON (Reuters) – Britain’s financial sector has begun to embrace Labour’s pro-business initiatives and pledges of stability and support, but many in the City of London remain wary that it could be targeted to shore up Britain’s strained public finances in the future. Under…
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Sygnum, Fidelity, And Chainlink Partner Up For Onchain Net Asset Value
In the rapidly evolving world of digital assets, partnerships between chain linkFidelity International, and We suck This collaboration is a testament to the transformative power of blockchain technology. By bringing the net asset value (NAV) data of Fidelity’s $6.9 billion institutional liquidity fund to the blockchain, the collaboration promises to…
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AI boom pushes four S&P 500 communication stocks to an all-time high in 2024
hxdbzxy/iStock via Getty Images The S&P 500’s communications services sector has seen strong growth this year, driven by positive earnings and enthusiasm for the promise of artificial intelligence. The Communications Services sector (SP500-50) emerged as the second-best performing sector among the 11 S&P 500 sectors, posting gains 26% In the…
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Euro leans through 1.08 as it nears the weekly high
It’s a holiday in the US, so I’m taking all market moves today with a grain of salt, but the general theme is to sell the US dollar, perhaps in a delayed reaction to yesterday’s weak ISM services reading (dropped to a four-year low). Over the past few hours, the…