Dogecoin started out as a joke. Now it’s a top 10 digital currency worth $40 billion. The cryptocurrency is based on the “Doge” meme, which rose to popularity in late 2013. The meme portrays a Shiba Inu dog alongside nonsensical phrases in multicolored, Comic Sans-font text. Created in 2013 by software engineers Billy Markus and Jackson […] Read more
U.S. stocks climbed to record levels on Thursday after key companies reported strong earnings and fresh economic data pointed to a rebound in consumer spending and the jobs market. The Dow Jones Industrial Average rose 300 points to hit an all-time high, topping 34,000 for the first time ever. The S&P 500 gained 1.1%, also […] Read more
China — The value of the cryptocurrency market topped $2 trillion for the first time on Monday driven by a rally in ether, the second-largest digital coin. In just over two months, the market capitalization of the cryptocurrency market has doubled, according to price tracking website CoinGecko, as retail and institutional investors pile into the space. […] Read more
LONDON — Algeria, Chad, Iraq and Nigeria will be among the first countries to experience political instability as oil producers feel the effects of a transition to low carbon energy production, according to a new report from risk consultancy Verisk Maplecroft. In its 2021 Political Risk Outlook, published Thursday, the firm cautioned that countries that […] Read more
Oil prices jumped on Thursday after OPEC and its oil-producing allies said the group would keep production largely steady through April. Saudi Arabia also said that it would extend its one million barrels per day voluntary production cut into April. The group approved the continuation of current production levels for April, except that Russia and […] Read more
U.S. stocks fell sharply Thursday as an outsized surge in bond yields spooked investors, who rushed to dump risk assets, especially high-flying technology names. The Dow Jones Industrial Average dropped 650 points from a record high. The S&P 500 lost 2.8%. The tech-heavy Nasdaq Composite slid 3.8% as Alphabet, Facebook, Apple and Microsoft all dipped […] Read more
European banks have seemingly weathered the coronavirus crisis well, but there are still some major challenges ahead that have the potential to rattle the sector. There’s been a noticeable difference between the pandemic and the global financial crisis of 2008: European banks have a much stronger capital position now than they did before. This is in part […] Read more
DUBAI, United Arab Emirates — Saudi Arabia, in a bold and unexpected move, announced late Monday that by 2024 its government would cease doing business with any international companies whose regional headquarters were not based within the kingdom. The news has investors, bankers and expat workers buzzing — and scratching their heads. Saudi Arabia in recent years […] Read more
With global demand returning and supply bottlenecks likely to drive up shipping, food and energy prices, Bank of America believes emerging market inflation could be on the horizon. In a note distributed Sunday, EEMEA Cross Asset Strategist David Hauner highlighted that while markets are pricing in the highest U.S. inflation for a decade, emerging market expectations are […] Read more
U.S. stocks jumped on Tuesday, building on a strong rally in the previous session as concerns about a speculative retail trading frenzy continued to ease. The Dow Jones Industrial Average climbed about 475.57 points, or 1.6%, to 30,687.48 for its best daily performance since November. The S&P 500 gained 1.4% to 3,826.31, pushing its two-day […] Read more
