Aurelia Butler

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    in Economy

    BP investors want oil firm to approach BAE chief as CEO- Sky News

    Several large investors believe that BP should target the appointment of an external candidate as its CEO, according to the report. It is unclear whether Woodburn had been formally approached by BP, according to Sky, adding he had been sounded out in recent weeks.”Charles is chief executive of BAE Systems and we have no comment on BP personnel matters,” a BAE Systems spokesperson said.BP was thrown into turmoil after Chief Executive Bernard Looney resigned on Sept. 12 for failing to disclose relationships with employees, leaving no clear succession plan in place.BP’s board has short-listed interim CEO Murray Auchincloss and two senior female executives as internal candidates to replace Looney, three company and industry sources told Reuters last month.”The process to appoint BP’s next CEO is ongoing. We won’t comment on speculation regarding potential candidates,” a spokesperson for BP said when asked about the Sky report. More

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    in Economy

    China’s central bank commits to economic growth and market opening

    The central bank has underscored the importance of an improved credit structure that supports technological innovation and contributes to the reduction of carbon emissions, aligning with China’s broader environmental goals. Furthermore, the PBOC has confirmed its plans to increase the financial market opening-up. This strategic move includes enhancing the participation of foreign investors in China’s bond market, which is expected to foster a more globally integrated financial environment.In addition to market liberalization efforts, the PBOC is concentrating on the internationalization of the yuan. This initiative aims to elevate the Chinese currency’s role in the global financial system and is part of a broader strategy to improve financial services for both domestic and overseas market participants.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

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    in Cryptocurrency

    Anthony Scaramucci’s ‘Bullish’ Tweet Excites Crypto Community: Details

    Many decided that this was a hint at the bullish for crypto.Many crypto-themed accounts, including Crypto Capital Venture founder Dan Gambardello and analyst Will Clemente started asking whether this is about the SEC approving the spot Bitcoin ETF.“Blink twice if you’re talking about the bitcoin ETF,” another crypto fan commented.No responses as to what this tweet actually meant were provided by Scaramucci.This news made the world’s flagship cryptocurrency Bitcoin collapse by nearly 7%, falling loudly from $45,366 to the $42,202 level within just several hours. Traders began liquidating their long positions and wiping $730 million worth of cryptocurrencies from the market. Major altcoins, such as Ethereum, XRP, Solana and others, also began going down in price rapidly. XRP fell the hardest, losing approximately 10% of its price.Since then, Bitcoin first managed to recover by 5.4%, rising to $44,498. By now, after another 4.25% fall and a 2.81% recovery, digital gold Bitcoin is .Many within the cryptocurrency community urged holders not to sell their Bitcoin just because of the Matrixport article. Still, experts believe the SEC is likely to green-light spot Bitcoin ETFs in January or in the first quarter anyway, naming March as another likely month for this decision.Bitcoin ETF approval is expected to bring billions of USD into the crypto space. Another major trigger for a potential Bitcoin price surge is expected to be the fourth BTC halving expected to happen in April.This article was originally published on U.Today More

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    in Economy

    Vice President Harris to mark Jan 6 attacks in South Carolina

    Harris will speak on the anniversary of the deadly attacks, after Biden offered scathing criticism of Republican frontrunner Donald Trump’s actions that day in a speech near Valley Forge, Pennsylvania on Friday.The vice president will visit Myrtle Beach, South Carolina, to deliver the keynote address at the 7th Episcopal District AME Church Women’s Missionary Society annual retreat. “Three years ago today, on January 6, 2021, a mob invaded the United States Capitol. They used violence and fear to try to overturn the results of a free and fair election, and to overrule the votes of millions of Americans,” Harris plans to say, according to excerpts from her remarks released by her office.”On that day, we saw violence, chaos, and lawlessness, even though some so-called leaders still say it was a peaceful protest led by, quote, ‘great patriots,'” the remarks say.Biden credits South Carolina with catapulting him to the White House in 2020, and the state was moved to the top spot in the party’s nominating calendar, ahead of Iowa and New Hampshire.The AME, or African Methodist Episcopal church, formed in response to racial discrimination in an American Methodist church in the late 1700s, has thousands of congregations worldwide and several million members. Biden will speak at the Mother Emanuel AME in South Carolina on Monday, where nine members were killed by a white supremacist in 2015. Although Biden is not facing serious competition for the Democratic presidential nomination, polls show he has lost some support from Black voters nationwide. A strong primary turnout in a state where the majority of Democratic voters are Black would calm fears about his electability among the party.“Let us not throw up our hands. Instead, let us roll up our sleeves. We were born for a time such as this. We love our country,” Harris says in the excerpts.”We believe in the principles upon which we were founded. And guided by our faith, we are prepared to fight for those principles. With hope, with optimism, and with faith. When we fight, we win,” she says in the remarks. More

  • 125 Shares169 Views

    in Cryptocurrency

    Coinbase targets EU derivatives market with upcoming Cyprus firm acquisition

    Coinbase’s foray into the EU derivatives market underscores its commitment to compliance and regulatory standards. The company has emphasized its focus on adhering to strict anti-money laundering (AML) and Know Your Customer (KYC) protocols, which are crucial for operating within the EU’s financial markets.In addition to the planned acquisition, Coinbase is actively working to further cement its regulatory footprint in Europe. The company is seeking to secure a Markets in Crypto-Assets (MiCA) license by the end of 2024, which would bolster its capabilities and services in the region. Coinbase already possesses a French virtual asset service provider license, demonstrating its proactive approach to meeting regulatory requirements across the continent.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

  • 113 Shares119 Views

    in Cryptocurrency

    Hyderabad and Mumbai residents fall prey to online scams

    In a separate incident, a resident of Dhokali in Mumbai was defrauded of Rs 27 lakh through a Facebook (NASDAQ:META) cryptocurrency scam. The victim was lured by an advertisement and subsequently tricked by an impostor claiming to be from Belgium. False confirmations and a website displaying fake profits were used to deceive the victim, who was then unable to retrieve the promised returns due to a counterfeit withdrawal link.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

  • 125 Shares99 Views

    in Cryptocurrency

    XRP Saw Biggest Price Drop Since August: Here’s What Happened

    The chart analysis reveals that after a period of consolidation within a narrowing price range — a pattern that traders often interpret as accumulation — XRP broke down dramatically. The long downward wick signifies a sharp sell-off, pushing prices to plummet swiftly. Such price action is typically indicative of a market where sellers have overwhelmed buyers, leading to rapid liquidations as stop-loss orders are triggered en masse.This sudden downturn has cast a shadow over short-term recovery prospects. With the accumulation phase nullified, the market must now grapple with the new reality of its invalidated bullish setups. This suggests that confidence in the asset’s immediate growth potential has been significantly dented, and it may take some time for investor sentiment to rebuild and for the market to stabilize.However, such drastic price movements often stir the market, leading to increased trading activity. The surge in volatility following such a drop could attract fresh funds and opportunistic traders looking to capitalize on the new lower price levels. Market participants might see this as a discount entry point, potentially injecting liquidity and driving some degree of price correction.However, the tides appear to be changing. The ETH/BTC pair has formed a “higher low” pattern. This pattern is significant as it often indicates a weakening of the previous downtrend, potentially preluding a reversal. The formation of a higher low suggests that is gaining strength relative to Bitcoin, and could be a precursor to an upcoming rally.The chart provided demonstrates this potential turning point. Ethereum’s price, while still exhibiting volatility, shows signs of stabilizing and possibly gearing up for an upward move. The convergence of the moving averages and the leveling off of the RSI suggest that the selling pressure is abating, and the momentum could be shifting in favor of bulls.If Ethereum can maintain this crucial higher low formation, it could entice risk-tolerant investors back into the market, bolstering the sentiment around the Ethereum ecosystem.The chart analysis of SHIB’s recent price action shows a dramatic sell-off, with the asset breaking down below key support levels. The price wick, extending far below the consolidation zone, suggests a rapid and large-scale exit from the asset, resulting in millions worth of SHIB being sold in a short period. The sharp downturn not only startled the market but also effectively nullified the previous accumulation phase, throwing numerous trading setups into disarray.The magnitude of this price drop could be a signal of a broader funds migration, with investors possibly steering away from high-risk meme coins like SHIB in favor of more established and “serious” assets. This shift may be part of a larger derisking trend within the crypto market, as participants seek stability amid economic uncertainty and regulatory scrutiny.This article was originally published on U.Today More