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European Central Bank to Launch Digital Euro Project

European Central Bank to Launch Digital Euro Project

The European Central Bank (ECB) is making moves to launch its digital euro project. Looking to reinvent the bloc’s currency, policymakers will be making a decision today as to whether or not they’ll be transitioning to an exploratory phase. ECB President Christine Lagarde believes that the exploratory part of the process could take approximately two years.  Should the central bank get the ball rolling, euro-zone […]

Hackers Demand $70 million After Attacking Software Company Kaseya

Hackers Demand $70 million After Attacking Software Company Kaseya

A team of hackers known as REvil began an international crime spree over the Fourth of July weekend. The group targeted American software company Kaseya and locked more than a million individual devices across the globe. The hackers are demanding $70 million to free them all.  Why Kaseya?  Kaseya is an information technology firm headquartered in Miami, Florida and has branches across the […]

UBS Cuts Tesla’s Share Price by Approximately 10%

UBS Cuts Tesla’s Share Price by Approximately 10%

On Tuesday, UBS cut Tesla’s share price by approximately 10%, dropping it from $730 to $660. After delving deeper into the electric vehicle (EV) industry, the Swiss investment bank cited multiple negative factors as the driving force behind the move. “While results from our EV survey are solid across the board for Tesla, momentum in […]

Coca-Cola loses $4 billion in Market Value after Ronaldo Chooses Water Instead

Coca-Cola loses $4 billion in Market Value after Ronaldo Chooses Water Instead

During the Euro 2020 press conference on Monday, football superstar Cristiano Ronaldo suggested that he preferred water to Coca-Cola. That small gesture wiped $4 billion off Coca-Cola’s market value. Reportedly, Coca-Cola shares, which were trading at $56.17 on Monday, dropped to $55.22 by the end of the conference, representing a loss of 1.6%. The market […]

Bitcoin Faces Fresh Trouble as China Blocks Weibo Crypto Accounts

Bitcoin Faces Fresh Trouble as China Blocks Weibo Crypto Accounts

Bitcoin is facing fresh trouble after China continues its crypto crackdown. Over the weekend, the country suspended crypto-related Weibo accounts. As a result, Bitcoin and the majority of other popular coins dropped in value. Weibo Ban & Its Impact Weibo, a Chinese social media service, blocked a number of accounts over the weekend. Weibo users […]

Gold Sees Impressive Monthly Gain Due to US Inflation

Gold Sees Impressive Monthly Gain Due to US Inflation

Gold prices are on track for the largest monthly gain since July 2020. US consumer prices increased more than expected in April, supporting the safe haven asset as an inflation hedge. Investors will be looking to the US nonfarm payrolls report for clues on the economic recovery. The report is set to be released on […]

The Bitcoin Rollercoaster Continues After Weeks of Volatility

The Bitcoin Rollercoaster Continues After Weeks of Volatility

The extreme volatility that Bitcoin has been experiencing lately persisted into the weekend. The world’s largest crypto by market capitalisation continued to fluctuate by double-digit percentage moves. Bitcoin investors are experiencing a rollercoaster ride of a week. Numerous negative headlines caused the coin’s price to swing as much as 30% in each direction on Wednesday […]

Commodities Boom Sends the Loonie Soaring

Commodities Boom Sends the Loonie Soaring

A broad rally in raw materials has lifted the price of crops, metals, and energy, sending the Canadian dollar soaring. If the commodities boom holds, it will mean a windfall for Canada – a nation rich in oil, natural gas, and vast lands for mining and farming. According to Canada’s trade report, its export receipts […]

Tesla Stops Accepting Bitcoin Causing The Cryptocurrency To Plummet

Tesla Stops Accepting Bitcoin Causing The Cryptocurrency To Plummet

Earlier this week, U.S. electric car maker Tesla has stopped accepting payments with Bitcoin. Apparently, the decision was made following environmental concerns due to the high power consumption needed to mine Bitcoin.  Environmental concern  Tesla’s decision to cease accepting BTC came from the rapidly increasing consumption of fossil fuels for mining and using Bitcoin. Tesla boss, Elon Musk, announced the decision on Wednesday.  Elon Musk’s announcement led to Bitcoin’s price declining by thousands. The exchange rate of the […]

Electric Car Frenzy Driven by China’s Tech Giants $19 Billion Investment

Electric Car Frenzy Driven by China’s Tech Giants $19 Billion Investment

The race to dominate the electric car market is moving at full throttle. In China, tech giants like Huawei Technologies Co. and Baidu Inc. have invested almost $19 billion into electric and self-driving car ventures. Tesla is a major catalyst for the market’s enthusiasm, but the competition is gaining on the American company. Key Players […]

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74%-89% of retail investors accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing money. Find more details about risk here.