December 7, 2021
Home Archive by category Business (Page 344)
Business

John McDonnell says nationalisation will be “cost free”

Shadow chancellor John McDonnell said this morning that Labour's nationalisation programme will be "cost free". Speaking on Sky News, McDonnell defended Labour's plans to take over key industries, repeating his claim that the policy will pay for itself. Read more: John McDonnell slammed for refusing to cost Labour's nationalisation plans The Labour party
Business

Flying higher and faster: Bitcoin blasts past $11,700

Published time: 3 Dec, 2017 12:25 Edited time: 3 Dec, 2017 12:42 The new age cryptocurrency bitcoin which has been on a record-breaking bull run has done it again, hitting $11,700. The digital currency broke through both $10,000 and $11,000 levels this week for the first time. The cryptocurrency has been smashing symbolic price barriers every few days, slightly
Business

US shale to surge after OPEC extension

Just as expected: OPEC and the group of non-OPEC countries led by Russia extended their production cuts for an additional nine months through the end of 2018. Read more “It’s been a good long day… in fact, it’s been a great day,” Saudi oil minister Khalid Al-Falih said at the presser. “I’m pleased to announce the decision has been unanimous.” The deal to cut 1.2 mb/d
Business

Bitcoin mining uses more electricity than 159 countries

Published time: 3 Dec, 2017 09:03 The surge of interest in bitcoin has triggered not only skyrocketing prices and endless debate on whether it's bubble, but also an enormous increase in electricity consumption all over the world. According to Digiconomist’s Bitcoin Energy Consumption Index, as of November 20th bitcoin’s current estimated annual electricity
Business

Renting in retirement: How feasible is it?

Home ownership can be a thing of beauty. Just as you don a pair of fur-lined slippers and spend more time on the golf course, you find you have paid off your mortgage. For the rest of your life, accommodation is effectively free. But this utopian model is becoming the exception. High house prices mean we are borrowing more for longer. And more significantly, the UK is
Business

Russia & China could set international gold price based on physical gold trading

Published time: 3 Dec, 2017 01:45 Since Russia, China, India, Brazil & South Africa are all either large producers or consumers of gold, or both, it is highly likely that the BRICS bloc they constitute could focus its cross-border gold trading network on trading physical gold. Gold pricing benchmarks from such a system would be based on physical gold transactions,
Business

Do EU27 really want euro clearing?

Financial trading worth some €1 trillion per day may be forced to move into the EU after Brexit, according to a European Commission proposal which seeks to repatriate transactions of euro-denominated instruments from London. Not everyone wants the potentially poisoned chalice. The proposal was political through and through, but technocrats taking a closer look now warn
Business

Philip Hammond’s bid to buy his way out of trouble

LONDON — It was a budget born of weakness. Faced with gloomy economic forecasts, mounting political pressure from his Brexiteer critics who suspect the U.K. chancellor may not wholeheartedly support the country’s impending exit from the European Union, and a hung parliament making it difficult for the government to get anything done, Philip Hammond bowed to political
Business

Pierre Moscovici sees big leap for eurozone

WASHINGTON — European Commissioner for Economic and Financial Affairs Pierre Moscovici said Friday he was confident eurozone countries would pursue an ambitious restructuring of their currency union after upcoming elections in France and Germany. “It will be a window of opportunity that we must not miss,” he said in an interview on the sidelines of the International