As Russian lawmakers approved a new law allowing the use of cryptocurrency for international payments, the global financial landscape witnessed a significant shift. The State Duma’s decision to greenlight the legislation marks a historic moment in the country’s financial sphere. With the ongoing financial pressure from Western sanctions, Russia’s embrace of cryptocurrency comes at a
Finance
Berkshire Hathaway’s recent streak of selling its Bank of America stake over the course of nine consecutive days has raised eyebrows in the financial world. The conglomerate sold a substantial 18.4 million shares of the bank, amounting to $767 million at an average price of $41.65. This trend has continued over the past nine trading
The cryptocurrency market witnessed a significant event this week as spot ether exchange-traded funds made their debut. Franklin Templeton, among the nine applicants granted approval by the Securities and Exchange Commission, introduced the Franklin Ethereum ETF (EZET). Unfortunately, EZET experienced a 10% decline since its inception due to the overall sell-off in cryptocurrencies. Despite the
The recent trend of Berkshire Hathaway reducing its stake in Bank of America continued this week, marking the sixth consecutive trading day that Warren Buffett’s conglomerate has sold off shares in the bank. A new regulatory filing revealed that Berkshire Hathaway sold an additional 18.9 million shares of Bank of America through transactions on Monday,
The “buy now, pay later” industry has been gaining popularity in recent years, allowing consumers to make purchases and pay off the debt at a later date. However, concerns have been raised about the lack of regulation in this industry and the potential risks it poses to consumers, especially younger ones. The British government, under
In a recent report by Bank of America analysts, it was highlighted that four of the world’s largest semiconductor equipment manufacturers, including ASML, have experienced a significant increase in their China revenue. Since late 2022, these companies have seen their share of China revenue more than double, reaching 41% in the first quarter of 2024
Alphabet, the tech giant, saw a 1% decline in its stock despite beating both top and bottom line expectations in the second quarter. While the company reported earnings of $1.89 per share on $84.74 billion in revenue, investors were disappointed by a miss in revenue from its YouTube advertising segment. Shares of Tesla dipped 4.7%
Investors have been pouring money into small-cap stocks, sparking discussions about whether this is a strategic move or simply reactionary behavior. ETF journalist Dave Nadig believes that this surge in investment is not just a rotation from winning growth trades but rather a diversification trade. This means that investors are seeking to broaden their exposure,
In light of the increasing trade tensions globally, top Chinese officials have reiterated the importance of focusing on internal affairs to ensure the stability and progress of the national economy. Han Wenxiu, deputy director at the Chinese Communist Party’s central committee office for financial and economic affairs, emphasized the need for concentrating on three key
When it comes to accessing the $7,500 federal EV tax credit, many consumers might not be aware that leasing an electric vehicle can also provide them with this financial benefit. Through a mechanism known as the “qualified commercial clean vehicles” tax credit, lessees can potentially receive the tax credit that is typically associated with buyers