Bitcoin drops nearly 7%
Bitcoin and other cryptocurrencies fell sharply on Tuesday, retreating from near-record highs. Bitcoin fell toward 60,000 USD during late morning trade Singapore time, according to CoinDesk data. Earlier this year, China cracked down on bitcoin mining, leading to an exodus of miners. Mining is an energy-intensive process that creates new coins and keeps records of all transactions in existing digital tokens.
Bitcoin´s performance over 5 years. (Source: Investing.com) *
Shell turns its back on Royal Dutch heritage
After 130 years, energy company is going to end the long association with the Dutch monarchy and leaving it to go by simply “Shell”. Shell is planning to finally scrap the complicated Anglo-Dutch structure that critics say has been a drag anchor for years.
UK unemployment rate falls to 4.3%
Estimating pay growth during the pandemic is difficult — but earnings growth does seem to have cooled. The ONS reports that total pay grew by 5.8% per year, down from 7.2% a month earlier. Regular pay, excluding bonuses, rose by 4.9%, down from 6.0%. These figures have been distorted by the impact of falling wages early in the pandemic, and by the loss of more low-paid jobs as sectors such as hospitality were hit hardest (which lifts average pay levels).
Amazon wants to beat grocery rivals
Amazon is reportedly gearing up for a major assault on the supermarket sector with a rapid rollout of hundreds of its hi-tech Amazon Fresh grocery stores which have no checkouts. By the end of 2024, more than 260 supermarkets will be launched. According to the report, Amazon wants to open several supermarkets in Germany, Spain, and Italy next year.
Investing In the Metaverse has a green
Facebook would now be known as the Meta Platform, or simply Meta, its share price has risen by more than 9%, which is more than double what the Nasdaq NDAQ +0.6% has done. * The metaverse trend offers immense potential to revolutionize our lifestyles and communication, and we’ve seen its development accelerate post-pandemic.
Watch this week:
On Thursday, U.S Initial Jobless Claims released number of unemployment insurances,
On Friday, will European Central Bank President Lagarde Speak about a major influence over the value of the euro.
* Past performance is no guarantee of future results