Markets slip on China sanctions

Markets are red across the board this morning as virus case numbers creep up once again and the US prepares sanctions on Chinese officials involved in disqualifying opposition lawmakers in Hong Kong. This seems like a parting blow to China from the Trump administration. The FTSE is the only major index bucking the trend, gainingContinue reading “Markets slip on China sanctions”

Oil gains on OPEC+ cut talks

OPEC+ will resume talks today with a view to planning for 2021 and the continuation of output cuts to support the oil price in a time when demand is lower as the world recovers from the pandemic. A deal is expected to be reached for cuts of 7.7 million barrels per day which has seenContinue reading “Oil gains on OPEC+ cut talks”

UK approves Pfizer vaccine, US closes at record highs

The UK has become the first Western country to approve a Covid-19 vaccine, giving emergency authorisation for Pfizer-BioNTech’s 95% effective solution. The jab could be rolled out as early as next week, with frontline workers and the most vulnerable likely to be at the head of the queue. The vaccine does present logistical challenges givenContinue reading “UK approves Pfizer vaccine, US closes at record highs”

Bitcoin hits new record high

Bitcoin surged to a new all-time high of $19,712. Its adoption by payments giant PayPal, as well as its role in portfolios as a safe haven which can offer diversification away from other assets like equities and bonds, have caused a huge run up in its value this year. It’s one year return is nowContinue reading “Bitcoin hits new record high”

S&P Global in talks to pull off the biggest deal of 2020

Salesforce’s talks of a deal with workplace communications firm Slack dominated headlines late last week, but an even bigger deal was reported over the weekend. Per The WSJ, financial information firm S&P Global is in advanced talks to buy fellow data giant IHS Markit for $44bn. If that price stands, the deal would be theContinue reading “S&P Global in talks to pull off the biggest deal of 2020”

Facebook’s Libra to launch as soon as January

Libra, the cryptoasset devised by Facebook, is reportedly planning to launch as early as January, as per the Financial Times, although it will be a scaled down version of what was originally planned. The FT quotes unnamed sources as saying the launch will now be focused on one single cryptoasset, rather than the launch of several coins.Continue reading “Facebook’s Libra to launch as soon as January”

Bitcoin hits record high followed by sharp sell-off

Bitcoin, the world’s largest cryptoasset, reportedly hit a new all-time high of $19,510 yesterday, beating the previous high of $19,458 set in December 2017, according to the Financial Times (FT). The cryptoasset has risen 75% in the past three months. From lows in March it has returned a staggering 400%. The record high was disputed by someContinue reading “Bitcoin hits record high followed by sharp sell-off”

US Treasury and Federal Reserve clash over pandemic response

European markets have opened marginally more positive this morning, but today’s upcoming session has been clouded as officials in Washington clash over the pandemic response. Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell found themselves in disagreement over several emergency lending programs that were started to support businesses during the Covid-19 pandemic. MnuchinContinue reading “US Treasury and Federal Reserve clash over pandemic response”

Bitcoin breaks through $18,000 closing in on all-time high

Bitcoin hit $18,488 during early hours trading this morning before pulling back slightly. The cryptoasset is now trading around $17,800 at the time of writing. It last reached such lofty levels in December 2017. Bitcoin’s market cap has also hit an all-time high of over $330 billion – higher than the previous record of $329.3Continue reading “Bitcoin breaks through $18,000 closing in on all-time high”

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