November 16, 2023 BY Elizabeth Anderson

Citi leverages blockchain technology for FX trades

This means the application can be applied to any fiat currency pair. Reportedly, this on-chain solution offers real-time quotes and record trades on a blockchain, supporting fixed and cryptographically secured stores of relevant data. Only counterparties can access the details for quotes and trades, as per the compliance surrounding regulatory requirements. According to reports, Citi’s…

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November 15, 2023 BY Elizabeth Anderson

UK inflation falls to 4.6% after 45-year high in March 2023

Bestinvest’s finance analyst, Alice Haine, noted: Softening inflation is positive news for households as it means incomes might be less stretched than they have been, but a decline in the headline rate does not mean prices are reducing, just that they are rising less quickly compared to previous months. The figures were reduced after the…

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November 15, 2023 BY Elizabeth Anderson

BlackRock seeking SEC approval for spot Ethereum ETF

This move by the market-leading asset manager not only infused more confidence in crypto markets but also triggered discussions at the SEC level with the aim to diluting regulatory opposition to virtual currencies. As with the Bitcoin price in June when BlackRock applied for that spot ETF, the Ethereum (ETH-USD) price spiked to its highest…

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November 14, 2023 BY Elizabeth Anderson

Financial markets looking sheepish ahead of US data

The US Dollar Index, a measure of the USD's performance against a basket of major currencies, showed marginal losses on Monday, and the 10-year US Treasury bond yield closed nearly unchanged, hovering just above 4.6%. In the Eurozone, the EUR/USD currency pair maintained stability around 1.0700, having recorded slight gains on the preceding day. Forecasts…

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November 14, 2023 BY Elizabeth Anderson

IC Markets Announce IC Shares

Through the partnership with FinClear, IC Shares has been established to provide a secure, user-friendly, and cost-effective means of accessing mid-cap and blue-chip companies in the Australian share market. Clients can easily invest in Aussie shares using their own HIN with a competitive brokerage fee, one of the lowest on the market, making the investment…

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November 14, 2023 BY Elizabeth Anderson

Banks using the Zelle payment app started scam-based refunds

Owned by seven banks, including JPMorgan Chase (JMP.N), the Bank of America (BAC.N), and Wells Fargo (WFC), Zelle is a peer-to-peer payment system. Scammers, claiming to be official representatives, such as banks, agencies, or service providers, tricked Zelle users into transferring money to these quasi-bodies. According to federal law, banks must reimburse their clients for…

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November 14, 2023 BY Elizabeth Anderson

Novo Nordisk shares riding high on success of Wegovy

This bullish stock performance follows on the heels of a key study that found Wegovy, the Novo Nordisk weight loss drug, reduces cardiac risks and related mortalities in obese people. Those involved in the study took the highest dose of the drug and consequently experienced a drop in blood sugar and inflammation, two of the…

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November 13, 2023 BY Elizabeth Anderson

Markets wary after UK cabinet reshuffles and upcoming US data

The US Dollar Index, having closed the previous week on a positive note, remained stable just below 106.00, while major currency pairs experienced fluctuations within familiar ranges. The UK's Office for National Statistics is set to release the jobs report early on Tuesday, along with third-quarter Gross Domestic Product (GDP) growth data from the Euro…

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November 13, 2023 BY Elizabeth Anderson

AustralianSuper rejects last-minute offer to accept planned Origin Energy takeover

In a 2 November media release, AustralianSuper reaffirmed its 31 October stance and said: AustralianSuper intends to vote its shares in Origin Energy (Origin) against the best and final offer from the Brookfield and EIG-backed consortium announced today. The mentioned consortium approached AustralianSuper, asking it to drop its opposition to the $10.5bn takeover bid for…

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