The recent approval of the new law in Russia allowing the use of cryptocurrency for international payments marks a significant shift in the country’s financial landscape. The State Duma’s decision to greenlight legislation enabling businesses to utilize cryptocurrencies in cross-border trade is a clear indication of Russia’s willingness to adapt to changing global financial trends.
Finance
Berkshire Hathaway’s recent trend of selling off its Bank of America stake has now stretched to nine consecutive days. This indicates that Warren Buffett’s actions may go beyond simply reducing its long-held investment. Over the course of these nine trading sessions, Berkshire has offloaded a total of 71.2 million shares of the bank, resulting in
This week marks a significant milestone in the cryptocurrency markets as spot ether exchange-traded funds (ETFs) have finally made their debut. Franklin Templeton, one of the nine applicants for spot ether ETFs, received approval from the Securities and Exchange Commission on Tuesday. The Franklin Ethereum ETF (EZET) has been met with both anticipation and skepticism,
Britain’s Labour government is gearing up to introduce updated plans to regulate the “buy now, pay later” industry. This comes in the wake of concerns about consumer debt and the need to protect individuals from financial instability. The Treasury department is working on finalizing the regulations, emphasizing the importance of providing certainty for the sector
Berkshire Hathaway’s recent move to dump more Bank of America shares has caught the attention of investors and analysts alike. Over the course of six consecutive trading days, Warren Buffett’s conglomerate has steadily decreased its stake in the bank. This week alone, Berkshire sold an additional 18.9 million shares, generating $802.5 million in proceeds. This
The semiconductor industry has been a focal point in the ongoing trade tensions between the United States and China. Recent reports have shown that four of the world’s largest semiconductor equipment manufacturers, including ASML, have experienced a significant increase in their China revenue. According to analysts at Bank of America, China’s share of revenue for
Despite beating both top and bottom lines in the second quarter, Alphabet saw a 1% slip in its stock price during after-hours trading. The company earned $1.89 per share on $84.74 billion in revenue, surpassing consensus estimates. However, revenue in its YouTube advertising segment fell short of expectations. Tesla Shares of Tesla declined by 4.7%
In the world of small caps, the recent influx of money may not be a simple rotation from successful growth trades. According to Dave Nadig, an ETF journalist and financial futurist, investors are actively engaging in buying various assets. Rather than simply chasing performance, he believes that it is more of a diversification trade. This
In response to increasing trade tensions with the United States and other nations, Chinese officials have emphasized the importance of focusing on domestic affairs. Han Wenxiu, deputy director at the Chinese Communist Party’s central committee office for financial and economic affairs, highlighted three key areas of focus: the stable and healthy development of the real
The EV industry has been buzzing with excitement ever since President Joe Biden signed the Inflation Reduction Act in 2022. This act not only provided a $7,500 tax break for consumers who purchase a new electric vehicle but also opened up an interesting loophole for those who choose to lease instead. While the $7,500 tax