Tuesday and Wednesday are important days for bitcoin (BTC) and the overall crypto industry. On Tuesday, Sam Bankman-Fried (SBF), ex-CEO of the bankrupt FTX, will attend the hearing of the US House of Representatives and testify about the collapse of his empire. Also, the Federal Reserve (Fed), the US central bank, will announce the monthly results of the Consumer Price Index (CPI) on Tuesday. On...
Gas prices have again dropped sharply in New Jersey and around the country as demand remains slow and supplies continue to increase. Gas prices have again dropped sharply in New Jersey and around the country as demand remains slow and supplies continue to increase. AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $3.49, down 14 cents from last week...
The Chinese state-owned shipping company Cosco is allowed to take an interest in a large container terminal in the port of Hamburg. The German government has given its consent. The Chinese government has bought more and more interests in European logistics in recent years, including in the port of Rotterdam. Cosco has a 24.9% stake. That is less than the 35 percent that the company initially...
Stock markets around the world ended the week with significant losses. In New York, the Dow Jones Industrial Average fell 1.6 percent from a day earlier, to its lowest level since the end of 2020. Fears of a recession have been pushing prices down for weeks. That fear is compounded by recent interest rate hikes and the new UK government’s budget plans announced today. Investors are worried...
On the sidelines of the regional security summit in Samarkand (Uzbekistan), Russian president Putin and Indian Prime Minister Modi will meet later today. Since the Russian invasion of Ukraine at the end of February, trade between Russia and India has more than doubled. In particular, India has increased imports of cheap Russian oil. The government in New Delhi is not happy about the Western...
At a plant of the Russian company Gazprom near the border with Finland, a gigantic ’watch flame’ has been burning for weeks, where, according to an analysis by Rystad Energy, more than 10 million euros are wasted on gas every day. Experts told the BBC that it may be gas that was previously exported to Germany. In the flame, which can be seen from tens of kilometers away, more than four million...
Oil-rich countries in the Middle East are reaping the benefits of soaring energy prices. Due to the high prices, the sale of oil will generate around 1.3 trillion dollars more than usual over the next four years. This is according to business newspaper FT based on calculations by the International Monetary Fund (IMF). The calculations show how much Gulf states with large oil and gas reserves are...
The manufacturer of meat substitutes Beyond Meat is suffering from high inflation. Now that the purchasing power of many people is rapidly declining, the relatively expensive vegetarian burgers and sausages from the American company are less in demand. The company is therefore counting on much less turnover this financial year than previously expected. Across 2022, Beyond Meat now plans to sell...
Manufacturers of cola, KitKat and Calvé peanut butter, among others, have recently increased their prices or will do so in the coming months. McDonald’s also announced an increase in the UK. The reason for this is the ever-increasing costs, such as those for energy and raw materials. For example, Nestlé announced on Thursday that it increased its prices by an average of 6.5 percent in the...
The European Central Bank (ECB) is raising interest rates by half a percentage point in one fell swoop, more than previously announced. The rate hike, the first since 2011, ends an unusual and eight-year period of negative interest rates. The ECB wants to contain the sky-high inflation with the substantial interest rate increase. In terms of size, the interest rate hike is extraordinary, a...