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On Monday, Tesla reached a massive milestone, exceeding a $1 trillion valuation after securing a big car order from Hertz. It is the fifth firm ever to reach this landmark globally. Previous companies that had also reached the $1tn valuation included Microsoft, Amazon, Apple, and Google-owner Alphabet. Tesla has just secured one of the biggest […]

California-based PayPal has recently struck an interest in acquiring the social media platform Pinterest. PayPal is looking to acquire Pinterest, which is currently being valued at $45bn with their shares trading at $70 a piece. Pinterest is a platform that offers a variety of tools, including scrapbooking and visual searches. The platform allows customers to […]

Microsoft announced the shutdown of LinkedIn in China through a blog post on Thursday. The country is continuing to expand its internet censorship and, hence, impacting a lot of companies’ operations. Microsoft to shut down LinkedIn in China has aided them to invest in another platform in the country. LinkedIn will launch a job search […]

Investors across the globe highly anticipated the two-day FOMC (Federal Open Market Committee) meeting, which ended on Wednesday. The consensus seems to be that the Fed expects to begin tapering bond buying in November or December.  Tapering has been a hot topic over the past couple of months as the central bank has been toying […]

Reports that PayPal is considering a foray into the stock market have been making headlines today. After a successful rollout of its cryptocurrency trading last year, PayPal is now looking at ways to offer its clients equity trading.  The California-based fintech giant has started up a new division at PayPal called the Invest at PayPal. Richard […]

Cardano’s cryptocurrency ADA climbs 25% to find itself as the third-largest cryptocurrency in the world. Eclipsed only by Ether and Bitcoin, the token surpassed the Binance Coin and Tether in 4th and 5th place, respectively. ADA leapt as high as $2.58 on Friday last week, cementing its all-time high. The rally was fueled by an […]

Ethereum initiated its ‘London Hard Fork’ upgrade on 5th August, and since then, 50,000 Ether tokens have been burned. When a token is burned, it is removed from the available supply, increasing the scarcity of those that remain. The huge number of burned tokens amounts to roughly $165 million. The amount of Ether held on […]

ByteDance, the Chinese owner of the social media platform TikTok, is reportedly contemplating going public soon. The Chinese conglomerate is supposed to debut on the Hong Kong exchange either in the fourth quarter of this year or early 2022.  Based on its most recent round of funding, which took place in December 2020, the company’s valuation stands at a […]

COVID-19 vaccine providers Pfizer and Moderna have raised their vaccine prices. Reports that the latest supply contracts signed between the European Union and the COVID-19 vaccine providers indicate higher prices began to make the headlines on Sunday.  Allegedly the price of the Pfizer vaccine went from €15.50 ($18.40) to €19.50 ($23.15), while Moderna’s new vaccine price […]

Robinhood made its public trading debut on Thursday 29th, July. The previous day, the brokerage firm was valued at $32 billion when it priced its IPO at $38 per share. When it began trading, shares initially rose 6% before falling as much as 12%.   According to reports, Robinhood’s stock market entrance was the worst recorded among 51 US firms that raised as much or more capital. Robinhood even dethroned MF Global Holdings Ltd with […]

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The world’s most valuable oil producer found itself in hot water when hackers claimed to have confidential files that they would leak unless the Middle Eastern oil giant coughed up $50 million worth of cryptocurrency.  Files that allegedly belong to the company began appearing on the dark web on Tuesday, along with a demand for $50 million worth of cryptocurrency in return for the […]

On Sunday, July 18th, online video conference app Zoom announced its intention to acquire Five9, a cloud contact centre software provider. The all-stock transaction places Five9’s value at $14.7 billion and marks Zoom’s first billion-dollar acquisition.  The deal marks the second-biggest US tech deal of 2021, following Microsoft’s $16 billion acquisition of Nuance Communications. It also signifies that […]

Once again, billionaire entrepreneur Elon Musk has landed himself in hot water. Tesla’s shareholders are currently suing the CEO. The group alleges that Tesla’s acquisition of the solar panel firm was, in fact, simply a bailout pushed through by Musk.  Shareholders’ Allegations  Shareholders assert that Musk was improperly involved in the situation and pushed the deal through when he should have […]

European Central Bank President Christine Lagarde advised investors that a change to policy guidance is likely to be announced at the upcoming meeting on July 22nd. The most anticipated policy updates pertain to monetary stimulus.  The European Central Bank (ECB) president signalled that new measures could be introduced in 2022 to better assist the euro-area economy after the current emergency bond program ends.  The announcement came […]

Former US president Donald Trump has announced that he is suing three of the world’s largest social media platforms, Twitter, Facebook, and YouTube. The 45th president of the United States plans to take on the companies’ respective CEOs, too – Jack Dorsey, Mark Zuckerberg, and Sundar Pichai (CEO of YouTube’s parent company, Alphabet).  The lawsuits have rallied Republican voters, fundraisers, and donors, yet legal experts still say they are all but guaranteed to […]

In a new round of crackdowns, China is now targeting companies that collect data and potentially use it illegally. On Sunday, Chinese regulators ordered that the local app stores remove Didi from the list of available applications. This comes after the company allegedly participated in the illegal collection and use of personal data.   Besides the ride-hailing app […]

American financial services company Robinhood will pay $70 million to settle a regulatory investigation. The Financial Industry Regulatory Authority (FINRA) has fined the California-based company $57 million and ordered it to pay nearly $13 million in restitution to thousands of clients.  FINRA’s Fine  FINRA is a non-government entity authorized by Congress and oversees thousands of brokers across America. The financial penalty ordered by FINRA is the […]

Johnson & Johnson agrees to pay out a $230 million settlement for its role in the opioid crisis in the US. Along with the settlement, J&J has reportedly agreed to stop selling opioids in the US. This settlement may be the first of many that will follow as trials proceed nationwide. However, one of the […]

ByteDance has many apps in its portfolio, one of which you will have heard of for certain – TikTok. TikTok is responsible for making mini dance routines on social media the norm. So, it’s no surprise that parent company ByteDance and its revenue are doing exceptionally well.  ByteDance’s Background  ByteDance was founded in 2012 by Chinese entrepreneur Zhang Yiming. Over the years, it has seen the popularity of its many […]

In Monday’s trading session, the UK’s Financial Times Stock Exchange 100 Index closed at its highest level since the pandemic hit Europe in February 2020. The FTSE 100, Britain’s blue-chip stock index, ended the day almost 0.2% higher, despite prolonged lockdown news. Prime Minister Boris Johnson announced that lockdown would be extended by an additional […]

The London Metal Exchange announced plans to reopen its iconic open-outcry trading floor on 6th September 2021. Initially, the exchange announced that it would be keeping the pit closed permanently, which led to backlash from major users. Known simply as the ‘Ring’, the pit dates back to the industrial revolution. It is famously recognised as […]

Almost five years have passed since the UK voted to leave the European Union, and the term ‘Brexit’ became commonplace in everyone’s vocabulary. Since then, banks and regulators have been dealing with the practical repercussions of the split. Uncertainties over long-term arrangements in the financial sector continue to rage on. Currently, London’s traders are at […]

Traders are betting on the success of the UK’s economic recovery thanks to the coronavirus vaccine rollout. In a press release, the government recently announced that its COVID-19 inoculation program is set to hit “more major milestones” as it approves the use of additional jabs. According to the statement, “more than 13,000 lives have been […]

The legal dispute between the European Union and AstraZeneca continues to heat up. At a hearing that began today, the EU seeks a court order that the British-Swedish pharmaceutical company supply the 27-nation bloc with more doses of its vaccine. The European Union made its case before a Brussels court, declaring an emergency situation warranting […]

Zhang Yiming, CEO and founder of TikTok (ByteDance), recently announced that he is planning on leaving the company and starting fresh. Zhang’s long-time business partner and friend, Liang Rubo, will take his place as CEO.  In an employee memo, Zhang said that the change would enable him “to have greater impact on longer-term initiatives,” and added that Liang is “an invaluable partner” with “strengths in management, organization, and social engagement”.  Zhang mentioned that him leaving the […]

Elon Musk’s recent Twitter activity sent Bitcoin in a downward spiral. Now, it appears his own company, Tesla, is tumbling with it. Shares in the electric vehicle-maker fell 2.2% amid a global rout in technology stocks and concerns of trouble in its China business. As of yesterday (Monday 17th), Tesla’s Chief Executive Officer lost his […]

The undefeated Floyd Mayweather announced that he would launch his own NFTs before his fight with Youtuber Logan Paul. The NFTs will celebrate the boxing legend’s legacy in life and sport by tokenizing unique items. The collection will consist of artwork, animations, and rare memorabilia.  “I started from nothing and beat all the odds to achieve what I did in my career […]

Online retailer Amazon Inc. issued its first sustainability bond on Monday 10th. The bond raised $1 billion that will be invested in clean transport, renewable energy, greener buildings, and affordable housing, among other things. Amazon joins a growing list of companies offering sustainability bonds, like luxury fashion house Chanel and pharmaceutical firm Novartis AG. Increased […]

The meme cryptocurrency, Dogecoin, has seen tremendous success over the last few weeks. This week, it surged to an all-time high of $0.69. The coin was created by software engineers Billy Markus and Jackson Palmer. The pair wanted to create a cryptocurrency that was distanced from other cryptos, which are known for volatility and controversial use.  A Meme’s Tremendous […]

Ether hit a milestone yesterday after a single coin was valued at over $3,000. Its record value inevitably brought Bitcoin into the spotlight along with it. Ether is up 325% so far this year, which overshadows Bitcoin’s 95% increase. While Bitcoin dominates the crypto sector, Ether’s rise highlights that there is room for more than […]

The game retailer, GameStop, will have a new head by July 31st the latest. The previous CEO of GameStop, George Sherman, will step down from his post and will leave the company with a large severance payment, as it has now become known.  $170 Million For Two Years of Work  In April 2019, Sherman was named GameStop’s Chief Executive Officer, […]

Policymakers at the European Central Bank (ECB) are preparing for a difficult discussion at the upcoming monetary policy meeting in June. The subject is whether they should begin to reduce their emergency bond-buying program. Last week, the Governing Council’s session concluded with no changes to the existing policy. However, according to officials, the next meeting, […]

The United Kingdom’s finance minister, Rishi Sunak, has recently announced that the Bank of England is looking at creating its own, central bank-backed digital currency nicknamed ‘Britcoin’. The idea came in an effort to help tackle some of the challenges presented by Bitcoin and altcoins.  “We’re launching a new task force between the Treasury and the Bank […]

Chancellor of the Exchequer, Rishi Sunak, has put a priority task force in place to explore a Bank of England digital currency (CBDC). The top-level team will consider how a new cryptocurrency will impact the UK economy, along with the potential benefits and risks. The aim is to boost the country’s economy after its recent […]

America’s largest cryptocurrency exchange, Coinbase, reached a market value of approximately $86 billion in its stock market listing. The crypto broker, where clients can buy, store, and trade Bitcoin, Ethereum, Litecoin, and other cryptocurrencies, went public on the Nasdaq on Wednesday, April 14th, 2021. Shares were introduced at $381 per share and closed below $330. […]

After EU sanctions were imposed on China, several foreign businesses like H&M and Adidas came under fire. Last month, Chinese state media strongly criticized H&M, Adidas, Nike, and New Balance for refusing to source cotton from the Chinese region of Xinjiang; there have been rumors that the Muslim Uyghur minority that lives in the area was forced into labor.  When H&M initially announced that it would […]

For the first time ever, the market value of cryptocurrencies surpassed $2 trillion, according to data from market trackers, Blockfolio and CoinGecko. The record-breaking figure is the result of a steady increase in gains over recent months. This increase led to heightened demand from both institutional and retail investors, as well as the cryptocurrency market […]

By now, most people have heard about the GameStop saga and its ensuing (and unexpected) battle between Reddit users and Wall Street. Though the war is seemingly over, the aftermath’s effects are still rippling through the stock market due to a rise in young, thrill-seeking investors. Young Investors The Wall Street rebellion has given way […]

The U.S. health regulator, the NIAID (National Institute of Allergy and Infectious Diseases), has expressed concerns about the validity of data from the new study by the pharmaceutical company AstraZeneca on its vaccine.  The study is based on the results of a Phase III trial involving around 32,500 subjects, which, according to the manufacturer, show that the vaccine is highly effective. In its statement, […]

During an interview with ABC News chief anchor George Stephanopoulos, President Biden agreed that President Putin was a ‘killer’ and that he will ‘pay a price’ for meddling in the 2020 US elections.  When Stephanopoulos asked the POTUS whether he thought that Putin was a killer, Biden nodded and replied, “Mmm-hmm, I do.” A report […]

When trading forex, we often forget how major the market that we are part of actually is. The foreign exchange market is a global, decentralized over-the-counter (OTC) market where institutional (large international banks like JP Morgan, Deutsche Bank, Citi, BS, Goldman Sachs) retail traders join to buy, sell and exchange currencies either at preset or […]

Pandemic: Winners and Losers  The COVID-19 pandemic has changed our lives around tremendously. It has changed how we live, work, travel, and even interact with one another. One of the main victims of the pandemic was the tourism sector; one of the biggest winners was the communications and e-commerce sector.  When companies were forced to […]

Against all odds, we live in a time where cryptocurrency exchanges are becoming public. Perhaps for some, this industry breakthrough was well anticipated, but for the traditional financial sector, this is still a shock. The biggest American cryptocurrency exchange, Coinbase Global Inc., announced that it has filed to go public on Nasdaq via a direct […]

Despite the British mutation of the coronavirus spreading more and more in the EU, a look at the figures for Great Britain show that new infections will not necessarily increase significantly again anytime soon. The infection rate there is now even lower than in France, Italy or the Netherlands, for example. In the UK, the […]

Executives in London’s City, the UK’s financial center, are questioning steps the UK government is taking to secure access to the European markets in the post-Brexit landscape. The United Kingdom has been pressing for equivalence as a way forward for UK regulated financial services companies to continue to offer their products to clients in the […]

Have you ever heard of GameStop? Chances are you’d never heard of the struggling chain of bricks-and-mortar high street retailers that sell video games, gaming consoles, and other electronics. That is until last week, of course! GameStop was always going to be a difficult concept to turn a profit from. How many people actually buy […]

Lockdowns and other COVID measures may well have put paid to a whole slew of industries, but for Microsoft, it’s been a windfall. The massive surge in the number of people either working from home or forced to stay at home through work closures saw a boom for many-core Microsoft businesses. PC sales have soared, […]

Crude oil is feeling the effects of a new resurgence of Covid cases and a new round of pandemic related lockdowns, with the expected uptick in demand taking a further hit. In the latest published report, the International Energy Agency (IEA) cut its already frugal forecast for demand in oil products in 2021 to 5.5 […]

The regulatory focus is back on Bitcoin and its impact on the financial markets after the Bull run of the last few days. The concern is that Bitcoin is getting too big to continue without any oversight by financial regulators. Price considerations apart, Bitcoin has a reputation for being the payment solution of choice for […]

While 2020 may have come to an end, Europe still finds itself firmly in the grip of rising coronavirus cases and new lockdown measures. With more highly contagious strains of the virus spreading among many European countries. On Sunday, the heads of the sixteen regional governments in Germany held an online meeting to discuss the […]

While global crude oil prices recovered to around $51 a barrel as the year draws to an end, 2020 has been anything but kind for the black stuff. Demand for crude plummeted as measures to combat the COVID-19 pandemic bit hard into travel and commuting. A price war between Russia and Saudi Arabia did little […]

Tilray Tilray Inc. is a major Canadian cannabis producer and the first in its industry to be listed on a major U.S. exchange. On the 15th of this month, Tilray Inc. and Aphria Inc. agreed to combine their operations, forming a new giant in the fast-growing cannabis industry. The all-stock deal, which puts together two […]

The United State’s FDA (Food and Drug Administration) has approved the Pfizer’s and BioNTech covid vaccine for EUA (Emergency Use Authorization) in what was seen as a turning point in the fight against the pandemic. The COVID-19 virus has already claimed almost 300,000 lives in the United States and caused turmoil across vast swaths of […]

India is the world’s third-largest importer of crude oil, with imports covering 85 percent of its oil needs. Iraq and Saudi Arabia are the main origins of Indian oil imports, with imports from OPEC member countries for 2019-2010 amounting to $92.8 billion. That’s a significant number, and the Indian government is desperate to find other […]

State-owned Huachen Automotive Group is the latest company in China to default on payments after failure to pay an Rmb1bn bond in October, increasing fears that the bond markets’ turmoil could filter down to the banking sector. Chinese, foreign banks, and trust companies have an Rmb33.5bn ($5.1bn) Huachen shaped hole in their books, with this […]

Ever since the 1930’s when Britain abandoned the Gold Standard, world currencies have drifted toward Fiat money. Fiat money is a government-issued currency that is backed by the trust in the government that issued it, rather than a physical commodity. It used to be that if a central government wanted to add more money into […]

UK PM Boris Johnson is set to make a “significant intervention” ahead of the new round of negotiations in the ongoing Brexit saga with the European Union. Talks between the Prime Minister and President of the European Commission, Ursula von der Leyen, are planned to finalize the long-awaited deal, with both sides confident of a […]

Brexit is just around the corner, with the final chapter in the UK – EU divorce due to play out in January. While it’s still uncertain what the future holds for the trade relationship between the United Kingdom and the European Union, but one thing is for sure. Traders are worried about disruptions in the […]

According to the S&P 500 announcement on Monday, electric car manufacturer Tesla (TSLA) will be joining the Index on December 21.  Tesla’s current market cap is roughly $387 billion, which is significantly more than long term members of the Index like Toyota or Coca-Cola. It is the 11th largest company by market capitalization in the US at the time but has all the potential to replace JP Morgan Chase & Co. as the 10th largest company.   According […]

Despite the world only being 10 months into the most devastating pandemic of the 21st Century, two pharmaceutical companies have already announced that they are close to releasing a vaccine.  A week ago, Pfizer announced that they are releasing a vaccine with a 90% success rate, and just yesterday, Moderna announced that its vaccine has […]

While most European countries experienced lockdowns of varying degrees of severity and social contact was by necessity, long-distance due to covid, telecoms giant Vodafone saw a return to profit, despite a marked decline in income from sales of new handsets and roaming charges. With travel at a fraction of what it was for the same […]

Bitcoin is often compared to Tulipmania – the world’s first financial bubble – in the Netherlands in the 17th century. During this time, the contract prices for tulips reached their monumental peak and then drastically collapsed in a week, causing tulip holders to declare bankruptcy. This is generally the model that defines all financial bubbles. Assets, both good and bad, drastically appreciate […]

New coronavirus lockdown measures announced over the weekend across Europe, including in the UK, France, and Germany, put an end to the recent oil prices rally with Brent crude falling to $35.74 per barrel, the lowest for the year since late May. Brent, the primary oil price benchmark, is down 45% since the start of […]

A team of scientists tasked with tracking mutations to the coronavirus has raised concerns over one particular variant, called 20A.EU1 has spread through Europe and is now responsible for the majority of new cases in several countries, including the UK, where the new variant accounts for more than 80% of new infections. 20A.EU1 was first […]

September 30th saw the U.S.A., and the rest of the world witnessed what was probably the least “presidential” presidential debate ever conducted. The two opponents, President Trump and Democrat candidate Biden threw the proverbial sink at each other, and not in a good way. Interruptions, barracking, whining, bickering. The presidential debate sank to the level […]

The IFS (Institute for Fiscal Studies) has issued a stark warning about the state of the economy by the next UK general election. The Covid lockdown effects on the economy and the slow recovery would leave a lasting dent in the exchequer’s coffers, with borrowing estimated to be around £100bn higher by 2024. According to […]

Thursday saw a welcome note of optimism for oil markets after OPEC Secretary-General Mohammad Barkindo declared that the “worst is over” for global oil markets. Crude futures rose by over 3% on the news settling at $41.22 at the close. The comments came as OPEC announced its annual World Oil Outlook. Secretary-General Mohammad Barkindo added […]

Job losses caused by the COVID-19 pandemic were supposed to be temporary, weren’t they? Things were going to back to normal by September, and economists were adamant that the bulk of employees laid off at the start of the pandemic in March would be back at work once businesses were cleared to open up for […]

American aircraft manufacturer Boeing (symbol BA.N) announced on Wednesday that it would be cutting production on its flagship 787 and 777 aircraft lines on the back of higher than anticipated losses due to the coronavirus pandemic that has cut a swathe through the United States. The company also announced a further delay in the planned […]

Barclays Bank’s pre-tax profits have taken a big hit for the second quarter of the year on the back of an extra £1.6bn provision for bad debts brought on by the COVID crisis. Barclays pretax profits for the first six months of 2020 are down by over fifty percent to £1.27bn, compared to the same […]