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TOKYO, Japan (AFP) — Bitcoin prices suffered a dramatic plunge on Friday, dropping 20 percent at one point towards the $13,000-mark in volatile Asian trading. The cryptocurrency kicked the week off with a bang, almost hitting $20,000 as it extended its astonishing rise but it has suffered a significant correction this week, losing a third of its value. Bitcoin dropped to $13,048 briefly from around $16,500 in late trading on Thursday, according to data compiled […]
by Glenn Chapman Agence France Presse SAN FRANCISCO, United States (AFP) — Google’s parent company Alphabet on Thursday announced that Eric Schmidt will step down as chairman, remaining on the board but shifting into a role as a technical adviser. “In recent years, I’ve been spending a lot of my time on science and technology issues, and philanthropy, and I plan to expand that work,” Schmidt said in a release. Schmidt’s stint as executive chairman […]
SAN FRANCISCO, United States (AFP) — Apple on Thursday confirmed what some conspiracy theorists suspected, that it intentionally slows performance of older iPhones as batteries weaken from age. The admission played into concerns that Apple was stealthily nudging iPhone users to upgrade to newer models by letting them think it was the handsets that needed replacing and that it was not just a matter of getting new batteries. “Our goal is to deliver the best […]
WASHINGTON, United States (AFP) — Shares in a New York beverage company nearly tripled by midafternoon Thursday after it announced it was shifting into cryptocurrency-related investments. Long Island Iced Tea Corp of Farmingdale, New York — which says it currently produces the soft drink with a proprietary recipe — announced Thursday it was changing its name to “Long Blockchain Corp” and would explore investments in the technology underlying cryptocurrencies like bitcoin. Shares in the company were up […]
BRUSSELS, Belgium (AFP) — The EU’s top official for the euro single currency on Wednesday pressed European regulators to urgently update financial rules in order to face bitcoin’s dizzying volatility. Crypto-currency bitcoin has soared almost 20-fold since the start of the year and this month saw it move into the mainstream as two major US exchanges began trading futures in the unit. “The developments relating to bitcoin and crypto-currencies in recent weeks require our heightened […]
TOKYO, Japan (AFP) — The Bank of Japan kept its ultra-loose monetary policy in place Thursday as inflation remains stubbornly low in the world’s third-biggest economy, bucking a trend of gradually tighter policy in major economies. The bank said it would purchase 10-year government bonds so that long-term interest rates would remain “at around zero percent.” The BoJ will also keep charging a negative interest rate on some accounts held by financial institutions at the […]
by Joseph Szczesny Agence France-PresseDETROIT, United States (AFP) — The United Auto Workers chief on Wednesday blasted Ford’s decision to send production of electric vehicles to Mexico, out of its home base in Michigan. UAW President Dennis Williams also complained that the massive tax bill approved by Congress on Wednesday failed to provide funding to key investments to make the US more competitive. “I’m not happy with Ford,” Williams told reporters at the union’s headquarters. “I think we’re […]
QUEZON CITY, Philippines (Eagle News) — Senator Franklin Drilon is asking his fellow senators to consider giving fiscal incentives to business enterprises as said entities will bear most of the impact of the new Tax Reform Law. Drilon reasoned that many businesses will be affected by the new law, especially with its provisions increasing taxes on gasoline, electricity and tobacco products. Such taxes could be passed on by businesses to consumers and, according to Drilon, […]
HONG KONG, China (AFP) — Asian markets moved narrowly on Wednesday as investors take a breather from recent gains while keeping an eye on Capitol Hill as US lawmakers close in on a massive tax overhaul. Equities have been on a broad upswing since last week when holdout Republican senators said they would back Donald Trump’s headline legislation, which dealers are betting will fire up the world’s number one economy. The House of Representatives passed […]
TOKYO, Japan (AFP) — Bitcoin prices plunged about 15 percent in Asian trade Wednesday before recouping some of the losses as investors apparently took fright at news that a South Korean exchange had been hacked. The unit, which hit a record $19,500 at the start of the week, took a hit as it emerged that South Korean exchange Youbit had been hacked, leading the firm to say it will close and start bankruptcy proceedings, according to Bloomberg […]
NEW YORK, United States (AFP) — The US Securities Exchange Commission on Tuesday suspended trading of a popular bitcoin related stock that has soared in recent weeks, citing concerns about market manipulation. The Crypto Company’s share price had risen an eye-watering 1,700 percent, from $3.30 to $575 between the end of September and Monday evening before the SEC intervened to halt trades until January 4. A statement cited “concerns regarding the accuracy and adequacy of […]
NEW YORK, United States (AFP) — UPS announced Tuesday it will buy 125 of Tesla’s all-electric semi trucks, the largest such order since the vehicle was unveiled in November. The order by UPS, one of the biggest operators of commercial trucking fleets, comes on the heels of a PepsiCo announcement two weeks ago to buy 100 of the Tesla trucks. The vehicles are designed to run up to 500 miles on a single charge, helping […]
