UK to speed up the interest rate hikes?

According to the latest remarks of Prime Minister of United Kingdom, Boris Johnson, as well as Bank of England, the policy makers in the country are ready to step in and raise the interest rates at an unprecedented pace. this is due to the rising inflation, which is close to 11% in the country.

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Chainlink Labs x PwC Germany

Enterprise blockchain adoption will be sped up thanks to a new partnership between Chainlink Labs and PwC Germany. Chainlink Labs will offer services to traditional businesses who are already working with PwC but have not yet adopted blockchain technology.

Florida Governor wants to ban CBDCs

Florida Governor Ron DeSantis called for a ban on central bank digital currencies (CBDCs). He pointed out some negative effects, including higher surveillance over citizens or a cap on CBDC holdings.

Microsoft launches AI tool Copilot

Microsoft has just launched a new AI tool called Copilot. It will be a similar tool to ChatGPT, which users can use for Word, Excel, PowerPoint, Outlook, etc.

FTX promoters get sued

Edwin Garrison has spearheaded a class action lawsuit against influencers promoting FTX on YouTube and other platforms. He seeks $1 billion in damages since they made money from promoting the FTX crypto scam without disclosure.

Meta fires 10,000 people

Meta has just announced a second round of layoffs. It was 11,000 employees four months ago. This time, Meta is firing 10,000 people.

Meta ends support for NFTs

Meta ended support for NFTs on Instagram and Facebook after one year. The company said it will focus on different ways to support businesses and creators.

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EUR/USD rises above 1.0900

EUR/USD rose above 1.0900 after the Fed raised interest rates, the highest since early February. Another Fed’s rate hike of 25bps was delivered, but the US dollar weakened all around the place.

Fed raised interest rates by 25 bps

The Federal Reserve raised interest rates by 25 bps as expected, from 4.75% to 5%. The news pushed Bitcoin to $29,000 and Nasdaq close to $13,000.

Chainlink Labs x PwC Germany

Enterprise blockchain adoption will be sped up thanks to a new partnership between Chainlink Labs and PwC Germany. Chainlink Labs will offer services to traditional businesses who are already working with PwC but have not yet adopted blockchain technology.

Magic Eden supports Bitcoin NFT trading

Magic Eden has become one of the first major NFT marketplaces to support Bitcoin NFTs (Ordinals). The company aims to leverage the rising interest in Ordinals after over 560,000 inscriptions were made. This is the fourth supported blockchain after Solana, Ethereum, and Polygon.

Russia to internationalize Chinese Yuan

Putin advocated for the internationalization of the Chinese yuan, saying that around two-thirds of trade between Russia and China is conducted in yuan and ruble. The president said his country supports the use of the yuan in trade between Russia and countries in Asia, Africa, and Latin America.

Inflation levels rise

The annual inflation rate in the UK unexpectedly jumped from 10.1% to 10.4%, significantly higher than the 9.9% forecast. Lebanon’s inflation surged from 123.53% to 189.67%. South Africa’s inflation jumped by 0.1% from 6.9% to 7%.

News

Wall Street turns into a sea of red after Fed
SP500
-1.65%

Wall Street turns into a sea of red after Fed

Fed hiked the expected 25 basis points, ensured one more hike, and shut down all speculations of rate cuts this year.
Oil is recovering before Fed’s rate announcement – will it hold?
WTIOIL
1.14%

Oil is recovering before Fed’s rate announcement – will it hold?

The crudes outlook definitely seems positive for now. Will the sentiment turn after Fed announces it's decision?
Nvidia flies to one-year highs amid AI partnertships
NVDA
1.03%

Nvidia flies to one-year highs amid AI partnertships

Investors continue to pile into Nvidia's stock as it is (once again) experiencing a massive bull market.

Can debt be good for personal finance?

Is debt really that bad? Are loans worth taking? This post explains how debt may benefit one's finances.