Cryptocurrencies are riding a roller coaster.
The European Union insisted on Friday that Britain not change trading rules in Northern Ireland on its own and said it would continue legal action against unilateral British action in the province for as long as necessary. The British-ruled province is currently in the EU single market for goods to ensure an open border with EU member Ireland and so requires checks on goods coming from other parts of the United Kingdom.
The Biden administration is seeking to leverage a secret weapon in its bid to get corporate America to pay for a sweeping jobs and infrastructure package: the nation’s some 30 million small businesses. The White House’s effort, previously unreported, seeks to harness the political popularity of small businesses and the current agitation among them over a tax structure many view as generous to larger, billion-dollar corporations like Walmart Inc and Amazon.com Inc over Main Street establishments.
The Bank of Japan’s new price forecast due later this month will likely come under significant downward pressure due to cuts in cellphone charges, sources said, adding to doubts about when it will achieve its elusive 2% inflation target. Such renewed weakness in prices would contrast with recent rises in U.S. inflation that is complicating the Federal Reserve’s communication with financial markets, and add pressure on the BOJ to maintain its massive stimulus for years to come, analysts say.
The European Union’s imports from Britain almost halved in the first two months of the year following the UK exit from the EU single market, data showed on Friday, and the 27-nation bloc’s trade surplus with Britain rose as exports fell by less. Eurostat, the Union’s statistics office said EU imports from Britain dropped 47.0% year-on-year in January-February to 16.6 billion euros ($19.9 billion) while exports to the United Kingdom declined only 20.2% to 39.8 billion euros.
The promised digital euro started to take shape this week and signals from Frankfurt may offer some relief to nervy commercial banks worried about being sidelined by the latest disrupter. With the “hands-off” pandemic accelerating the demise of physical cash, and private-sector crypto and stablecoins threatening to invade the space, the pledge last year of a digital euro within five years came before the European Central Bank knew what exactly it would be or how it would function.
|When graphics chip specialist NVIDIA announced the $40 billion acquisition of Arm Holdings, it was a foregone conclusion that the company was going to try to extend its reach beyond GPUs. While that acquisition still needs to get past regulatory scrutiny, NVIDIA is wasting no time.
NVIDIA unveiled its first data center CPU earlier this week. The NVIDIA Grace CPU is an Arm-based processor aimed squarely at artificial intelligence and high-performance computing workloads. NVIDIA is claiming that the CPU can deliver a tenfold performance boost over existing server chips in some cases.
|Morgan Stanley reported a 150% jump in first-quarter profit on Friday that sailed past Wall Street expectations while disclosing an almost $1 billion loss from the collapse of private fund Archegos.|
|Bitcoin fell early on Friday, after Turkey’s central bank decided to ban the use of cryptocurrencies for payments from the end of the month.
It said that market values can be “excessively volatile,” adding that digital wallets can be stolen or used unlawfully and that transactions were irrevocable.
This comes in the face of rising interest in emerging stable coins.