The price of bitcoin has risen above $80,000 (£62,000) for the first time ever, after Donald Trump’s decisive victory in the US election last week. It comes as the Republicans are edging closer to overall control of Congress after having already secured the presidency and a majority in the Senate. On the campaign trail the president-elect pledged to make the US “the crypto capital of the planet”. The value of
Christian Lindner, Germany’s finance minister, during a meeting Janet Yellen, US treasury secretary, not pictured, at the annual meetings of the IMF and World Bank in Washington, DC, US, on Thursday, Oct. 24, 2024. Ting Shen | Bloomberg | Getty Images German Finance Minister Christian Lindner on Friday warned that if the U.S. kicked off a trade war with the European Union, there could be retaliation. “Trade controversy sees never
Singapore Airlines new business-class seats. Courtesy: Singapore Airlines Singapore Airlines is planning to add a four-seat first class to the Airbus aircraft it uses for its longest routes, a bet to attract high-spending travelers to flights that can top 17 hours. The carrier will add the new seats to seven Airbus A350-900 URLs, or ultra-long-range aircraft that it uses for lengthy trips, including its longest, between New York and Singapore.
Getty Images The OBR said the last government did not provide them with all available information at former chancellor Jeremy Hunt’s last Budget The Treasury should have disclosed a £9.5bn overspend in the public finances in the run-up to the previous government’s Spring Budget “under the law”, the UK’s budget watchdog has said. Richard Hughes, chair of the Office for Budget Responsibility (OBR), told a committee of MPs on Tuesday
A delegate arrives at the King Abdulaziz Conference Centre in Saudi Arabia’s capital Riyadh to attend the Future Investment Initiative (FII) forum. Fayez Nureldine | Afp | Getty Images Thousands of financiers, founders and investors are set to descend on the Saudi capital of Riyadh for the eighth edition of the kingdom’s Future Investment Initiative, the flagship economic conference at the heart of Vision 2030 — the multi-trillion dollar plan
The new Ford F-150 truck goes through the assembly line at the Ford Dearborn Plant on April 11, 2024 in Dearborn, Michigan. Bill Pugliano | Getty Images DETROIT — Ford Motor on Monday reported a 15.2% increase in U.S. new vehicles sales in October compared with subdued levels due to a union strike in October 2023. The year-over-year sales increase was led by a 29.2% improvement in sales of Ford’s
PA Media Supermarket Asda has announced 475 roles will be cut in their head offices Asda has confirmed 475 roles at their head offices in Leeds and Leicestershire will be cut and hybrid working reduced as part of a business restructure. The retailer said the move, which would affect less than 10% of its head office staff, would enable it to “simplify structures” amid a challenging market. In a note
Human resources and technology concept for AI augmenting team work. Leowolfert | Istock | Getty Images The rise of artificial intelligence (AI) has been stunning in both its speed and impact. According to data from Goldman Sachs, investment in AI is expected to reach $100 billion in the U.S. and $200 billion globally by next year. Last year, in private equity alone, generative AI (GenAI) investments reached $2.18 billion –
U.S. homeowners are sitting on a record amount of equity, but higher interest rates over the past two years have made them reluctant to tap into it. That is finally starting to change. In the third quarter of this year, mortgage holders withdrew $48 billion of home equity, according to ICE Mortgage Technology — the largest volume in the two years since the Federal Reserve started hiking its benchmark interest
Getty Images Millions of households in England and Wales will struggle to pay their water bills when they go up, a consumer watchdog has warned. The water regulator, Ofwat, has provisionally said bills would rise by an average of £19 a year between 2025 and 2030 – a 21% increase over that period. But in a survey of 9,500 households carried out by the Consumer Council for Water (CCW), some
