Aurelia Butler

More stories

  • 50 Shares189 Views

    in Economy

    Migration, inflation and vacation

    Standard DigitalWeekend Print + Standard Digitalwasnow $85 per monthBilled Quarterly at $199. Complete digital access plus the FT newspaper delivered Monday-Saturday.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More

  • 88 Shares149 Views

    in Economy

    Does Brussels plan to charge Chinese batteries?

    Standard DigitalWeekend Print + Standard Digitalwasnow $75 per monthComplete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More

  • 100 Shares149 Views

    in Cryptocurrency

    Jefferies cuts price targets on Bitcoin mining stocks

    The investment firm’s note cites a “modest recovery” in June following the May slump, but highlights continuing challenges.Despite a slight increase in Bitcoin price and decrease in network hash rate in June, Jefferies cut MARA’s target to $22 from $24 per share and ARBK’s target to $1.20 from $1.50.The report details recent merger and acquisition activity, including Riot Blockchain’s (RIOT) rejected acquisition attempt of Bitfarms (BITF) and Cleanspark’s (CLSK) successful acquisition of GRIID Infrastructure (GRDI) to expand its hosting capacity.Jefferies notes a strategic shift by some miners towards high-performance computing (HPC) and AI hosting due to the declining profitability of Bitcoin mining post-halving. Companies like APLD, IREN, HIVE, HUT, and even the recently emerged CORZ are exploring this diversification.The report concludes by highlighting Marathon Digital’s efforts to find alternative solutions. They detail their partnership with Kenya’s Ministry of Energy to explore using stranded renewable energy for Bitcoin mining. More

  • 150 Shares179 Views

    in Cryptocurrency

    Bitcoin price today: slips to $57k as Mt Gox jitters rattle crypto

    Still, the world’s largest cryptocurrency found some support around the $57,000 level after sinking to over four-month lows earlier on Monday. Bitcoin fell 0.8% in the past 24 hours to $57,072.0 by 08:09 ETThe token and the broader crypto space took little support from a weaker dollar, with reports suggesting that major Bitcoin wallet holders had also begun mobilizing their wallets for potential sales.Trustees for the now defunct Mt Gox crypto exchange said they had begun distributing tokens to clients affected by a 2014 hack. While the trustees have not outlined the value of the distributions, wallets associated with the exchange were seen moving around $9 billion worth of Bitcoin earlier this year.Traders dumped Bitcoin on fears that receivers of the tokens will be largely encouraged to sell their holdings, given Bitcoin’s massive price jump over the past decade. Such a scenario presents massive selling pressure on the token.Several Bitcoin “whale” wallets were seen coming online for potential sales of their holdings, while inflows into crypto investment products were also seen largely drying up through the past few weeks. Among broader crypto markets, major altcoins saw mixed performance despite Bitcoin’s drop.World no.2 token Ether climbed 1% to $3,043.14. Prior to this, the token broke below $3,000 for the first time since May.ADA/USD and XRP rose 2.5% and 0.7%, respectively, while Solana fell 0.4%. Among meme tokens, DOGE/USD dropped 1.8%, while Investing.com Shiba Inu Index added 0.8%.Selling pressure on Bitcoin spilled over into major altcoins, given that the token usually acts as a figurehead for the crypto industry. As such, crypto prices largely disregarded recent weakness in the dollar, amid growing optimism over interest rate cuts by the Federal Reserve. This trend saw Wall Street hit record highs.A testimony by Fed Chair Jerome Powell is set to offer more cues on interest rates this week. Key U.S. consumer price index inflation data is also on tap. Digital asset investment products saw net inflows of $441 million last week, breaking a three-week streak of net outflows, CoinShares said in a new report. The last time these products recorded net inflows was the week ending June 7, when investors added over $2 billion.Bitcoin accounted for $398 million of the inflows. CoinShares noted that it is unusual for BTC to represent only 90% of the total inflows. Among altcoins, Solana stood out, with SOL-linked products attracting $16 million.CoinShares attributed the inflows to recent price weakness, driven by defunct crypto exchange Mt. Gox preparing to repay creditors and the German government’s law enforcement agency moving large amounts of bitcoin to exchanges.Investors likely saw this as a buying opportunity, CoinShares said, however, the positive sentiment did not extend to blockchain equities, which experienced $8 million in outflows, bringing their year-to-date total to $556 million.  More

  • 113 Shares129 Views

    in Cryptocurrency

    This Week Is Crucial for Crypto Market: Here’s Why

    Inflation levels are evaluated using economic indicators such as the PPI and CPI, which have a direct impact on monetary policy decisions. A more aggressive stance on interest rates by the Federal Reserve in response to higher-than-expected inflation could have an impact on all financial markets, including cryptocurrencies.On the other hand, if inflation seems to be under control, the markets might feel some relief, and the price of digital assets might rise. The testimony of Chairman Powell is also a significant event because it provides information about the Federal Reserve’s outlook for the economy and its plans for future monetary policy.Increased volatility on the cryptocurrency market can be attributed to any sign of policy changes or shifts in the outlook for the economy. Investors and traders will be carefully observing any clues about interest rates and the Fed’s strategy for combating inflation.There is additional uncertainty because of the possible rate cut of 25 basis points. It might indicate the Federal Reserve’s intention to boost economic growth if it is put into practice, which could have a favorable impact on risk assets like cryptocurrencies. However, how these developments fit into current economic conditions and expectations will determine how the market responds in the main.The cryptocurrency market is going through a turbulent time right now. With resistance at the 200 EMA level, Bitcoin has found it difficult to hold its position above $58,000. Ethereum is struggling to maintain its upward momentum and is currently trading below the $3,000 mark. Broader market forces, such as massive liquidations and selling pressure from different entities such as government agencies and ETF holders, are aggravating these technical difficulties.This article was originally published on U.Today More

  • 163 Shares189 Views

    in Economy

    Bank of England’s Haskel says he wants to keep interest rates on hold

    LONDON (Reuters) -Bank of England policymaker Jonathan Haskel said on Monday that he does not want to cut interest rates from their current 16-year high as inflationary pressures remain in the job market and it is unclear how rapidly they will fade.Financial markets currently price in a roughly 60% chance that the BoE will cut interest rates on Aug. 1 for the first time since 2020, but Haskel stuck with his position as one of the policymakers who is more cautious about looser policy.”The labour market continues to be tight, and I worry it is still impaired,” Haskel said in the text of a speech which he is due to deliver in person later on Monday. “I would rather hold rates until there is more certainty that underlying inflationary pressures have subsided sustainably,” he added.British consumer price inflation returned to the BoE’s 2% target in May for the first time since 2021. But the BoE expects it to rise later this year due partly to wage growth which remains close to 6% – roughly double the rate most policymakers view as consistent with 2% inflation.Haskel is the first BoE policymaker to speak since the conclusion of Britain’s election campaign, which brought a blackout on BoE communications.Britain, alone among major advanced economies, still has a lower percentage of working age people in employment than before the pandemic, and Haskel said the job market appeared not to be matching potential workers with vacancies as well as before. Inflation also faced upward pressures due to the public’s recent experience of unusually rapid price growth – which hit a 41-year high of 11.1% in October 2022, Haskel said.”I hope this helps explain why the MPC is looking closely at labour market conditions and underlying inflationary indicators such as services inflation,” Haskel said. More

  • 113 Shares169 Views

    in Cryptocurrency

    Dogecoin Founder Issues Crucial Statement on Bleeding Cryptocurrency Market

    Overall, between July 1 and July 5 last week, Bitcoin lost more than 15% of its price, dropping from the $63,600 zone to $53,900. This plunge was followed by an attempt to regain the losses, with Bitcoin succeeding in gaining 8.3% as it surged back to the $58,370 level. After that, the above-mentioned 24-hour blow happened.Markus, who is famous on social media for his jokes and often dark, ironic takes on cryptocurrencies and the crypto market in general, commented this time on the current Bitcoin decline and the whole market following it deep to the South. He published a picture of a sinking yacht, which says: “How’s your crypto going?” The answer to that is the yacht’s title, which ambitiously says: “No Worries.”As for Dogecoin, it has followed the Bitcoin price trajectory lately – from July 1 until July 5, it lost almost 28%, plunging from $0.12693 to $0.09185. Then, a 20% recovery happened, followed by an 11.4% loss in the last 24 hours. So far today, the largest meme cryptocurrency has seen a marginal rise, comprising 3.64%, and DOGE is trading at $0.10428 as of this writing.Last week, he also stated that Bitcoin, perhaps, offers financial freedom, as Bitcoin maximalists insist, but this freedom shrinks once the BTC price begins to plummet. That post came out slightly before U.S. Independence Day last week.This article was originally published on U.Today More

  • 163 Shares109 Views

    in Economy

    Indonesia sees higher 2024 budget deficit at 2.7% of GDP, finance minister says

    The government’s initial target was for a deficit of 2.29% for 2024, wider than 2023’s deficit of 1.65%. The rupiah hit 16,475 per U.S. dollar last month, its weakest in four years, due to a strong dollar and on concern about the spending plans of the incoming government. It has weakened by around 6.3% in the first half of the year.Spending on fuel subsidies has increased due to the weaker rupiah and the government has also spent more on food assistance, while tax revenue has been affected by moderating commodity prices, Finance Minister Sri Mulyani Indrawati said, resulting in a wider deficit estimate. However, Sri Mulyani said the government will remain vigilant in its debt management and will optimise the use of its excess cash from last year’s budget of 100 trillion rupiah ($6.15 billion) to reduce debt issuance.”Hopefully this will help maintain macroeconomic stability, especially the exchange rate movements and government bond yields,” she told the parliamentary budget committee.The government said it could issue 214.6 trillion rupiah less in debt this year. FISCAL DEFICIT In the first six months of 2024, the government posted a fiscal deficit of 0.34%, data presented at the hearing showed, as revenue dropped 6.2% compared with the same period last year, largely due to shrinking tax revenues. Sri Mulyani said that mining-related companies have been asking for an earlier refund for their tax overpayments, as they need more liquidity to weather low global demand.Tax revenue is forecast to fall 4 percentage points short of the government’s target to 2,218.4 trillion rupiah by year-end, though total revenue is expected to hit target. However, it will not be enough to compensate for higher spending this year, which is expected to be 3,412.2 trillion rupiah, or 2.6 percentage points, higher than target.”We hope with the current global uncertainties, all government programmes can still be executed in the second half to support economic growth,” she said adding that the economy is expected to expand in a range of 5% to 5.2% in 2024. Said Abdullah, the committee chair, warned the government about the risk of lower tax revenue this year and suggested that it put on hold projects that had a smaller impact on economic growth.($1 = 16,265.0000 rupiah) More