Aurelia Butler

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    UK shop prices fall by the most since August 2021, survey shows

    Annual shop price deflation dropped to 0.6% in the 12 months to September, the BRC said, its weakest since August 2021 and slower than the 0.3% fall in the month before.It was the seventh time in nine months that the pace of price growth has weakened.Non-food deflation fell to 2.1%, a down from a drop of 1.5% in August.”Easing price inflation will certainly be welcomed by consumers, but ongoing geopolitical tensions, climate change, and government-imposed regulatory costs could all reverse this trend,” BRC boss Helen Dickinson, said. Food price inflation rose to 2.3% from 2.0%, an increase Dickinson attributed in part to poor harvests in key farming areas which led to higher prices for cooking oil and sugar.Official figures showed consumer price inflation held at 2.2% for the second month in a row in August, well below a 41-year high of 11.1% in October 2022.But services inflation, a closely watched indicator of underlying inflation pressure by the Bank of England, edged up.The central bank is expected to cut borrowing costs in November after holding its key interest rate at 5% in September.BoE policymaker Megan Green last month said she saw a risk that weak consumer demand could rebound by more than the central bank has anticipated.Consumer surveys have shown many households remain cautious about potential tax hikes in finance minister’s Rachel Reeve’s first annual budget later this month. More

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    AI chip firm Cerebras reveals threefold revenue jump in US IPO filing

    Businesses racing to adopt AI applications like ChatGPT have benefited the companies behind the semiconductors needed to power the technology. AI chip leader Nvidia (NASDAQ:NVDA)’s stock has more than doubled in market value this year and briefly dethroned Microsoft (NASDAQ:MSFT) as the world’s most valuable company.Still, concerns of excessive euphoria around AI-linked stocks prompted some investors to exit the technology sector earlier in the year, and the Cerebras IPO will likely serve as a litmus test for the market’s AI appetite.The Sunnyvale, California-based company did not disclose the terms or size of its offering. Receding recession fears and a strong equities rally have also rejuvenated the U.S. IPO market in 2024 after two lackluster years. Cerebras designs processors for AI training and inference, and builds AI systems to power the processors and feed them data. On Monday, the company revealed total revenue of $78.74 million for the 12 months ended Dec. 31, 2023, up from $24.62 million in 2022. It recorded a net loss of $127.16 million for the same period, compared with a loss of $177.72 million in 2022.Cerebras has been backed by a number of high-profile investors, including the Abu Dhabi Growth Fund and Coatue Management. Citigroup, Barclays, UBS Investment, Wells Fargo Securities and Mizuho are among the underwriters for the offering. Cerebras will list on the Nasdaq Global Market under the symbol “CBRS”. More

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    Brazil, Mexico eye revised trade agreement

    Brazilian President Luiz Inacio Lula da Silva is in Mexico as part of an official government visit, which will include his presence in Claudia Sheinbaum’s inauguration ceremony as Mexico’s president on Tuesday.Mexico and Brazil have a trade agreement dated from the early 2000s which sets the exemption or the reduction of imports fees for some 800 types of products. “The growth of our relationship has already topped that agreement,” Marcelo Ebrard, Mexico’s incoming economy minister, said on the sidelines of an event on Monday. “We need to update it,” he added. Earlier in the day at the same event, Lula said that the trade agreements between both countries, which also include a deal regulating trade of vehicles and auto parts, need to be revised as soon as possible. “I want our industries to grow, our agricultures to grow, I want Brazil and Mexico investing to build artificial intelligence that could bring economic benefits for us,” he said in his speech, without providing more details. During the event, Lula also suggested that the trade agreement in discussion between the European Union and South America’s Mercosur bloc could in the future be extended to Latin America. More

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    in Cryptocurrency

    Impossible Cloud Network Launches ICNT: The Token Set to Disrupt the Future of the Cloud

    Impossible Cloud Network (ICN), the frontrunner in decentralized cloud infrastructure, announces the forthcoming launch of the Impossible Cloud Network Token (ICNT). The token will fuel ICN’s mission to reshape the global cloud landscape by empowering users to leverage enterprise-grade hardware through a decentralized, accessible ecosystem.Impossible Cloud’s enterprise platform is exponentially growing and recently surpassed 2 billion client operations generated by 800+ active business accounts. These milestones demonstrate the foundation on which Impossible Cloud Network (ICN) is building its decentralized cloud services, driving an ever-growing demand for the ICNT token and setting new standards for the industry.Breaking Barriers in Cloud ServicesICN is designed to merge the power of decentralized web3 technology with the demands of web2 enterprises, making it the first true web3-based cloud solution with mass adoption from business customers. ICNT will be the driving force behind the protocol, enabling secure transactions, rewarding participants, and providing governance capabilities. This isn’t just about decentralizing the cloud – it’s about delivering a faster, more scalable, and more secure solution than ever before.ICN decentralized protocol connects hardware providers and cloud service users in a seamless platform. Whether you’re a business needing on-demand infrastructure or a hardware provider, ICNT facilitates all interactions on the network. SLA oracles play a crucial role in monitoring and ensuring network performance, guaranteeing that service-level agreements are met. The Impossible Cloud Network Protocol (ICNP) serves as the backbone, coordinating between hardware nodes, service providers, and SLA oracles to ensure the cloud is always secure, efficient, and cost-effective.A Thriving Ecosystem Backed by Real DemandBuilding on Impossible Cloud’s exponential growth of over 1 billion client file uploads & downloads in Q3/2024 already (and counting), the launch of Impossible Cloud Network (ICN) marks the next phase in expanding this proven demand into the decentralized cloud space. By using ICNT, participants not only access critical services but actively contribute to expanding the network, earning rewards and potentially influencing key decisions to shape its direction.ICNT: The Currency of a Decentralized Cloud RevolutionICNT is more than just a token – it’s the core of ICN’s decentralized cloud economy. From securing network resources to rewarding contributors and facilitating transactions, ICNT is designed to ensure the network’s continuous growth and security. Holders will also be given a voice through governance features, empowering them to shape the future of ICN.Early adopters and contributors can look forward to exciting incentives, including airdrops and token rewards, further integrating them into the platform – Users cam join ICN’s Discord to learn more.Users can visit icn.global and get a full understanding of the ICNT token distribution.The Future of ICN: Community, Milestones, and Strategic Partnerships ICN’s roadmap is packed with game-changing developments that are set to accelerate its growth and industry impact. Earlier this month, ICN announced a partnership with Aethir, a major player in decentralized GPU compute services. This collaboration enhances ICN’s existing object storage offering, creating a strong synergy that will propel both networks forward, driving innovation and adoption in the space.“This collaboration with ICN marks a pivotal moment in decentralized infrastructure,” says Mark Rydon, Co-Founder and CSO at Aethir. “By integrating our GPU compute services with ICN’s innovative cloud platform, we’re creating a seamless, scalable solution that will unlock new possibilities for enterprises and developers. Together, we’re pushing the boundaries of what decentralized technology can achieve.” With a growing community of over 25,000 followers across social platforms, ICN is building strong momentum as it prepares for upcoming milestones, including the launch of testnets, node drops, and token fairdrops. The launch of ICNT is just the beginning. ICN is committed to expanding its service offerings, building new partnerships, and making decentralized cloud services the go-to solution for enterprises and developers alike. With $18 million raised, ICN is set to become the #1 cloud provider, competing head-to-head with AWS and other centralized giants.For more information about ICNT and the Impossible Cloud Network, users can visit www.icn.global or join our ICNT’s on X and Discord.About Impossible Cloud NetworkImpossible Cloud Network (ICN) is a decentralized cloud platform that connects enterprise-grade hardware with cloud service providers, leveraging cutting-edge web3 technologies. Founded by successful serial entrepreneurs with a history of major achievements, ICN is already working with real clients and projects, aiming to deliver a new standard in cloud services by ensuring data security, integrity, and availability while reducing costs and enhancing performance for its users.Contactweb3 Marketing ExecutiveSara TeixeiraImpossible Cloud [email protected] article was originally published on Chainwire More

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    Powell signals Fed will revert to quarter-point cut in November

    Save over 65%$99 for your first yearFT newspaper delivered Monday-Saturday, plus FT Digital Edition delivered to your device Monday-Saturday.What’s included Weekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysis More

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    De.Fi World 2024 Set to Convene Industry Leaders in Bangkok on November 11

    De.Fi, a prominent platform in the decentralized finance (DeFi) space, will host De.Fi World 2024, a major one-day conference on November 11, 2024, at The Athenee Hotel in Bangkok, Thailand. This event will bring together over 1,000 attendees from more than 30 countries, offering a unique forum for discussions on the latest trends and developments in the DeFi ecosystem.Event Overview:Date: November 11, 2024Location: The Athenee Hotel, 61 Witthayu Rd, Lumphini, Pathum Wan, Bangkok 10330, ThailandExplore the Future of FinanceMore than 1000 attendees from over 30 countries will converge in Bangkok at De.Fi World 2024. The event aims to facilitate in-depth discussions on decentralized finance, exploring emerging technologies and innovative solutions that are shaping the industry. Attendees will have the opportunity to engage with key industry figures, participate in workshops, and explore exhibitor offerings that showcase advancements in Web3 and DeFi technologies.Keynote speakers include influential leaders such as Anton Bukov from 1inch, Weso from Beefy Finance, Roc Zacharias from QuickSwap, and Ken Timsit from Cronos Labs. Topics such as ReStaking, Real World Assets, and DePIN-in will also be covered, highlighting current trends in the DeFi landscape.Exclusive Networking and PrivilegesDe.Fi World 2024 will offer a platform for high-level networking, with 80% of participants expected to be C-level executives. The event is supported by over 30 industry players, including Metis, Matter Labs, Cronos, and Beefy. VIP ticket holders will gain access to an exclusive after-party, while $DEFI stakers will enjoy free event access and VIP status.How to ParticipateTickets are available now, and those interested in speaking or sponsoring the event are encouraged to apply. For further details and regular updates, users can visit the official De.Fi World 2024 website or follow De.Fi on social media.About De.FiDe.Fi is an all-in-one Web3 Super App and Antivirus featuring an Asset Management Dashboard, Opportunity Explorer, and the world’s first Crypto Antivirus powered by the largest compilation of DeFi hacks and exploits, the Rekt Database. Trusted by 5 Million users globally, De.Fi aims to drive DeFi adoption by making the self-custody transition as simple and secure as possible. Backed by Okx, Huobi, former Coinbase (NASDAQ:COIN) M&A, and used by large companies worldwide, including University College London and Coingecko.For more information: Website | Twitter | De.Fi Security | Rekt DatabaseContactPR [email protected] article was originally published on Chainwire More

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    Why China needs a ‘Three Arrows’ strategy

    Save over 65%$99 for your first yearFT newspaper delivered Monday-Saturday, plus FT Digital Edition delivered to your device Monday-Saturday.What’s included Weekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysis More