Visa and Mastercard extend fee limits until 2029

Visa and Mastercard, two of the biggest competitors in the payment network sector, have reached an agreement with EU antitrust regulators to extend the restrictions on tourist card fees that were first implemented five years ago. The European Commis…

BOJ discussed timely rate rise at June meeting

The Bank of Japan engaged in a conversation regarding the potential for an imminent increase in interest rates during the month of June. A summary of the meeting that occurred on Monday disclosed this information. The board's increasing concern …

Broad Crypto Market Selloff Drops Bitcoin to One-Month Low

The price of bitcoin fell to its lowest level in a month due to money being taken out of digital asset investment products and the anticipation of future increases in US borrowing rates. This had a detrimental impact on the cryptocurrency market. Th…

Australia's first Bitcoin ETF holds 46 Bitcoins since launch

Australia's first Bitcoin spot Exchange Traded Fund (ETF), IBTC, has amassed 46 Bitcoins since its launch, claims Odaily. Julian Fahrer, a cryptocurrency specialist, has said that the ETF's excellent beginning demonstrates the rising trust i…

EU Raises Tariffs on Chinese EVs to 38.1% to Increase Local Production

The European Union has authorized import taxes on Chinese electric cars ranging up to 38.1%. The tariffs seek to assist the European EV supply network and advance domestically produced electric vehicles. The European Commission projects yearly tarif…

Inflation fell marginally in May 2024

Slightly improving from the previous month, consumer prices increased 3.3% in May compared to a year earlier, exceeding projections made by experts. The information arrived hours before the Federal Reserve decides on whether to raise or lower its be…

US examines restrictions on China's AI chip access

The Biden government is debating further limitations on China's access to cutting-edge semiconductor technologies. Important technologies under likely constraint include High-Bandwidth Memory (HBM) and "Gate All-Around" (GAA) CPU archi…

Global economies experienced strong growth in May 2024

That's 17 months in a row of growth for the Caixin Purchasing Managers Index (PMI) in China, which rose to 54 in May. At the same time, Malaysia's manufacturing industry got a boost when the PMI went up to 50.2. The S&P Global Spain Ser…

Apple announces AI innovations and iPhone upgrades

The 24th World Wide Developers Conference (WWDC) for Apple is set to happen from June 10-21. This event will show off new AI features, such as the ability to make your own pictures and a better Siri. Experts at Wedbush believe that adding AI will s…

The launch of Australia's inaugural Bitcoin ETF is imminent

Australia's first spot Bitcoin ETF, IBTC, is about to be launched by Monochrome Asset Management. This ETF, which is regulated by ASIC, has Gemini as its custodian, ensuring that investors have complete legal ownership of their Bitcoin and the …

Dell stock drops by 19.6% despite AI progress

Dell Technologies' stock experienced a 19.6% decline following the release of its first-quarter earnings report. Revenue saw a 6% increase, reaching $22.2 billion. AI server sales doubled during the initial quarter. The PC-focused Client Soluti…

U.S. stocks decline as Salesforce drops 19% due to poor outlook

Thursday saw major falls in U.S. markets as the Dow Jones plummeted 1.1%, the S&P 500 dropped 0.4%, and the Nasdaq Composite dropped 0.5%. With its first quarterly revenue shortfall in over two decades and a poor annual sales forecast, Salesfor…

Nvidia has announced a 10:1 stock split to enhance accessibility and appeal to investors

Nvidia (NASDAQ: NVDA) discloses plans for a 10:1 stock split set for June 7, 2024, with the goal of boosting accessibility for employees and investors. The company's robust financial performance in the AI chips sector has propelled share prices…

Global markets are falling owing to interest rate fears

Wednesday and Thursday, major measures saw big drops in the stock markets around the world, which kept pushing prices down. Concerns about higher interest rates caused the FTSE 100 to drop sharply. The Dow Jones Industrial Average fell more than 40…

BlackRock's IBIT is now the biggest cryptocurrency exchange-traded fund

The IBIT Bitcoin ETF from BlackRock is now the largest bitcoin ETF in the world, with $20 billion in assets. It has been able to grow quickly, beating rivals like JPMorgan's JEPI, thanks to its low fees, high liquidity, and well-known brand name…