Quantum Computers To Create $850bn Of Global Economic Value By 2040 LeapRate

July 19, 2024 BY Elizabeth Anderson

Quantum Computers To Create $850bn Of Global Economic Value By 2040

Dr Curioni suggested that this data breach could be upon us within a decade, considering the speed at which quantum computers are gaining power. He stated that quantum computers create calculations by leveraging subatomic particles that allow them to process tasks at devastatingly fast speeds. Q-Day, an event widely known throughout the quantum industry, will…

July 19, 2024 BY Elizabeth Anderson

China Probes The EU’s Pork Trade

China’s Commerce Ministry indicated that it will look into Danish Crown, Vion Boxtel and Litera Meat to determine if any detrimental product dumping occurred that negatively affects the Chinese economy. These firms are reportedly the leading pork exporters to China. To comply with the investigation, the companies must accurately complete a questionnaire. Danish Crown said…

Kraken sets up Abu Dhabi headquarters in MENA region

July 19, 2024 BY Elizabeth Anderson

Kraken Extends Its Reach To The UK And Australia

In its blog post announcing this extension, Kraken stated that custody is “integral to the institutional crypto space” as financial institutions need a secure platform to handle virtual assets. Through Kraken Institutional, the company already features prominently in the UK and Australian crypto spheres. The cryptocurrency exchange stated: With this expansion, our crypto custody product…

July 18, 2024 BY Elizabeth Anderson

Microchip Stocks Stumble After Trump Remark And Possible Export Limits

According to Reuters information, TSM is the world’s leading chipmaker, with its products featuring in everything from AI applications to fighter jets. Washington reportedly indicated that it may revert to the “most severe trade curbs” should firms continue to supply China with top-shelf technology. Recently, the current US administration implemented stringent measures to limit China’s…

July 18, 2024 BY Elizabeth Anderson

Global Markets Await Interest Rate Verdict From European Central Bank

The UK Office for National Statistics (ONS) reported that wage growth is at its lowest since the record-low 5.4% in August 2022. This year’s wage growth is at 5.7%, a steady decline from 5.9% last year. Annual bonuses are at 5.7%, according to the ONS. To add fuel to the fire, the closely monitored private-sector…

July 17, 2024 BY Elizabeth Anderson

Tesla Now Hiring After Mass Firings

Many find this move confusing as Tesla laid off thousands of workers earlier this year. Based on a Bloomberg analysis, the advertisements called for a diverse range of applicants, ranging from AI specialists to ordinary service jobs. Analysts pointed out that this increased hiring activity occurred in tandem with an uptick in the company’s stock…

July 17, 2024 BY Elizabeth Anderson

ESMA Opens Consultation On Order Execution Policies Under MiFID II

This call came on Tuesday 16 July 2024, and the financial watchdog indicated that financial institutions and investment platforms have until 16 October 2024 to comment on the proposed amendments. Investment firms must specifically address the classification of financial instruments in terms of which they execute client orders. These companies must also indicate how they…

July 16, 2024 BY Elizabeth Anderson

Trump Stock Soars After Attempted Assassination

DJT-associated stocks, such as the Rumble (RUM) video platform, also experienced an uptick on Monday. Media reports described the attempted assassination as a “seismic event in political terms”, and the incident inevitably caused aftershocks that affected financial markets. Both sides of the aisle are weighing in on the lasting effects of the Donald Trump shooting.…

July 16, 2024 BY Elizabeth Anderson

Prop Trader Funded Engineer Ends Operations

A proprietary or ‘prop’ trader is a broker or financial institution that targets direct market profits instead of claiming a cut of the trading activities of clients. Funded Engineer’s digital note indicated that the trader had failed to overcome its numerous financial challenges and plans to file for bankruptcy. The announcement, addressed to clients and…

Binance seeks to curb SEC’s hunt for “fraud”

July 15, 2024 BY Elizabeth Anderson

US Lawmakers Want Binance Exec Freed from Nigerian Prison

Republican congressmen Rich McCormick and French Hill want the US government to view Gambaryan as a hostage. The resolution states that he has been "wrongfully detained abroad" and that his current situation is a "clear violation of his rights and a grave injustice". Gambaryan is a US citizen. The move comes five months after Gambaryan…

Category: Market News