Nvidia outpaced the market values of both Amazon.com, Inc. (AMZN) and Alphabet Inc. (GOOG) earlier this week, making it the third-most valuable company in the US. In the last 12 months, the chipmaker’s stock has grown by 200% as the insatiable demand for microchips shows no signs of slowing. Don’t miss out the latest news,…
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Gasoline and distillate went in the opposite direction and declined, the reason likely being BP's (LON: BP) shutdown of its Whiting and Indiana oil refineries, the biggest in the Midwest. The Whiting refinery underwent an extensive modernisation project that was completed in 2013. It cost over $4.2bn and greatly increased the refinery's capacity to process…
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The arrests comprised a significant operation involving more than 38 FCA and NCA officers across three residential sites. During this exercise, the authorities also seized several tech devices. After interviewing the suspects, two were released under investigation and one on unconditional bail. The fourth, a 48-year-old man, also remains under investigation. Don’t miss out the…
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At one stage, the Bitcoin price reached $52,328.53, the highest in over two years. This 5.56% increase took the virtual currency’s market cap to $1,026tn. Reuters indicated that, since the start of this month, the Bitcoin price rose by 22%. LSEG Lipper data shows recent capital inflows of $1.64bn into the US spot Bitcoin ETFs…
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This sudden change in the rate cut timetable expectations has impacted treasury yields, with the yield on two-year Treasuries, which is sensitive to interest rate expectations, rising to 4.62%. The increase in borrowing costs, in turn, has caused bond prices to fall and led to a decline in interest rate futures. Richmond Federal Reserve Bank…
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It said this more rigid rule bridges regulation gaps, which paves the way for criminal financial dealings. FinCEN indicated that it had identified several finance and national security risks within the investment advisory sector. As an entry point for investments in US securities, real estate and other assets, these risks open the doors for local…
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Many fear that this will negatively impact forex (FX) trades. Bloomberg reported that these currency transactions need about two days to go through and would now have to speed up, which may cause currency bottlenecks at the day’s end and botch some trades. CLS Group Holdings AG, a world leader in FX settlements, indicated that…
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The move follows a recent announcement that Bezos is set to sell between 50 million and 75 million shares over the next 12 months. Investors now buying Amazon shares are essentially betting against Bezos as he has become a ‘big seller’ of the stock. Jeff Bezos became executive chairman of Amazon in 2021 after stepping…
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Saras’s Sardinia industrial facility is the largest single-site refinery in the Mediterranean. It produces approximately 300,000 barrels per day to feed supply chains in Italy and Europe. The site’s fully integrated power generation plant supplies more than 40% of Sardinia’s electricity. Bloomberg indicated that Vitol increased its bottom lines as the COVID-19 pandemic and Ukraine…
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Presently, the EU’s ETS makes up 87% of the global carbon market with a value of approximately €770bn. Reflecting 2022 volumes, roughly 12.5 billion metric tons of carbon permits were traded in 2023. Highs in the European and North American markets, however, reportedly gave 2023 that 2% push. Don’t miss out the latest news, subscribe…
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