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(Reuters) — Apple is designing its own power-management chips for use in iPhones from as early as 2018, according to the business daily, Nikkei. The news sank the shares of Apple’s current supplier, Dialog Semiconductors, in Frankfurt, even though Dialog said its business relationship with Apple hasn’t changed. But it’s a good move for Apple, says Chief Strategy Officer & Head of Technology Research, GBH Insights’ Daniel Ives. “So, I think there’s two sort of […]
WASHINGTON, United States (AFP) — Digital currencies like bitcoin could pose a threat to financial stability as they gain wider use, a chief Federal Reserve banking oversight official said Thursday. The remarks from newly-installed Fed Vice Chairman for Supervision Randal Quarles came as bitcoin took a vertiginous dive on Thursday after skyrocketing earlier in the week to more than 10 times its value at the start of the year. Bitcoin is increasingly being embraced by Wall Street, […]
LOS ANGELES, California (Reuters) — Car manufacturers’ attempts to square what U.S. consumers want against the clean vehicles regulators and investors demand will go on display in Los Angeles this week at an auto show that has moved away from calling itself just an auto show. Automakers on Wednesday previewed new models for the media at an event called AutoMobility LA, reflecting an emphasis on digital technology and new ways to get around, such as […]
NEW YORK, United States (AFP) — A strong US economic growth report lifted the Dow to a fresh record close Wednesday, even as the tech-rich Nasdaq plunged following a sell-off in high-flying technology shares. Meanwhile, bitcoin hogged the headlines after the virtual currency, which is not traded on world markets, smashed its way to historic peaks, racing past $11,000 a day after breaking $10,000 on a wave of feverish speculation as institutional investors looked to […]
by Joseph Sotinel and Simon Sturdee Agence France Presse VIENNA, Austria (AFP) — Oil-producing nations inside and outside OPEC are expected later Thursday to extend a deal keeping a lid on output in an attempt to push crude prices higher. But it remained unclear whether they would prolong by six or nine months the accord to reduce production by 1.8 million barrels a day, after its expiry date of March 31, 2018. The unprecedented agreement […]
HONG KONG, China (AFP) — Asian markets were mixed on Wednesday following fresh records on Wall Street as Donald Trump’s tax-cut plans moved a step closer, while the pound extended gains on reports of a breakthrough in Brexit talks. Traders brushed off early worries caused by another North Korean missile test, while Bitcoin continued its surge to break the $10,000 mark for the first time. New York traders cheered a forecast-beating US consumer confidence survey […]
SINGAPORE, Singapore (AFP) — Bitcoin broke above the $10,000 mark for the first time on Wednesday as the virtual currency continued a stratospheric rise that has seen it increase more than tenfold this year. The cryptocurrency surged to a high of $10,059 in early Asian hours, according to Bloomberg News, though the recent surge in the volatile unit has fuelled fears of a bubble. Launched in 2009 as a bit of encrypted software written by someone […]
OUAGADOUGOU, Burkina Faso (AFP) — France is setting up a billion-euro ($1.2 billion) fund for small- and medium-sized African businesses, President Emmanuel Macron announced Tuesday. Macron, visiting Burkina Faso at the start of his first African tour, said the money could be used to help firms maximise value from agriculture, but also the digital sector. The money will be provided by the France’s Public Investment Bank, which offers firms tailored funding, and the French Development Agency. Macron […]
The Asian Development Bank has approved the $300 million grant-loan of the Philippines on its road corridor project. The loan will be used by the government in its infrastructure projects as part of the “Build, Build, Build” program of the Duterte administration. The grant assistance of the ADB aims to help the government finance infrastructure, implement, and manage public works projects, and strengthen the framework for public-private partnerships. “As such, increasing the size, liquidity and […]
SAN FRANCISCO, United States (AFP) o– Amazon founder Jeff Bezos was a $100-billion man on Monday as the online retail colossus raked in cash from the holiday weekend’s cyber shopping spree. Forbes magazine’s real-time ranking of the richest people had Bezos on top, with a personal net worth of $100.3 billion. Microsoft co-founder Bill Gates saw his net worth climb to a dizzying $89.4 billion but was relegated to being the second most affluent person […]
By Daphne Rousseau Agence France Presse BERLIN, Germany (AFP) — From raising $30 million in 30 seconds to being endorsed by Paris Hilton or vanishing into thin air: anything is possible in the risky new world of cryptocurrency fundraising, but regulators are lurking. Bypassing oversight of any kind, Initial Coin Offerings (ICOs) have sprung from nowhere to become a hugely popular way for start-ups to raise funds online, offering self-created digital “tokens” or coins […]
HONG KONG, China (AFP) — Asian markets fell Monday after last week’s volatility, but the euro held gains following healthy economic data and on hopes German Chancellor Angela Merkel is close to forming a government. Investors ignored another strong lead from Wall Street, where the S&P 500 and Nasdaq chalked up fresh records on optimism for strong sales on Black Friday and Cyber Monday — the two major post-Thanksgiving shopping days. With little to drive […]
