finance – World Top News Now

29Jun

By AdminsNo Comments

Bitcoin price has fallen by 50 per cent in less than a year. Why?

Nearly a year ago, bitcoin reached its highest ever price as it surged to over $US124,000 in value. It was a stunning rise, given many thought its time had come and gone when it soared and then fell in and around 2022. Several factors are leading to Bitcoin's fall from grace. AAP However, it has now plummeted by more than half, falling by 19 per cent in the last month alone, according to tracking website CoinMarketCap. The market cap or total dollar value for cryptocurrencies overall has also fallen rapidly this year, losing nearly $500 billion. It has been a stark fall, especially given how US President Donald Trump pledged to support the crypto industry, and as parts of the technology sector are climbing. Elon Musk's SpaceX was recently publicly traded...

21May

By AdminsNo Comments

Boss of a $52 billion investment bank turns to AI to replace 8000 ‘lower-value human capital’

The boss of a $52 billion investment bank has described a plan to slash 8000 jobs over the next four years as a reduction in "lower-value human capital". Standard Chartered chief executive Bill Winters told reporters this week there would be job "reductions in favour of machines, and that will accelerate as we go forward into AI (artificial intelligence)". "It's not cost-cutting," Winters said. Standard Chartered chief executive Bill Winters is planning to shed some of the company's "lower-value human capital". (Bloomberg) "It's replacing, in some cases, lower-value human capital with the financial capital and investment capital we're putting in." The comments are the latest public admission from a major financial or tech institution on the rapid path towards g...

13May

By AdminsNo Comments

‘I don’t think about Americans’ financial situation’: Donald Trump

Donald Trump has brushed off the financial concerns of American voters when asked about his continuing war with Iran. The president was asked by a reporter if he was motivated to make a deal with Iran because of the financial situation of Americans. "Not even a little bit," he replied. Donald Trump has brushed off the financial concerns of ordinary Americans. (AP) "The only thing that matters when I'm talking about Iran — they can't have a nuclear weapon. "I don't think about Americans' financial situation. "I don't think about anybody. I think about one thing: We cannot let Iran have a nuclear weapon. That's all." Democrats have pounced on Trump's remarks, which come months before November's midterm elections. "Donald Trump just said it hi...

8Jan

By AdminsNo Comments

Trump says US to get up to 50 million barrels of oil from Venezuela at market price

President Donald Trump said “interim authorities” in Venezuela would sell between 30 million and 50 million barrels of “high quality” oil to the US at its market price. “I have asked Energy Secretary Chris Wright to execute this plan, immediately,” Trump posted on Truth Social. “It will be taken by storage ships, and brought directly to unloading docks in the United States.” Trump said the money would be controlled by him as president, but would be used to benefit the people of Venezuela and the United States. President Donald Trump walks off stage after speaking to House Republican lawmakers during their annual policy retreat. (AP) Separately, the White House is organising an Oval Office meeting with oil company executives regarding Venezuela. Representative...

28Jul

By AdminsNo Comments

Australia faces nervous wait as Trump’s tariff deadline looms

Australia is no closer to learning whether it will be hit by a higher tariff by the United States, despite President Donald Trump saying he'll be handing down fresh duties later this week. The so-called "reciprocal" tariffs were paused for 90 days, and the White House has recently announced deals with a slew of partners, including the UK, China, Vietnam, Indonesia, the Philippines, Japan and, as of this morning, the European Union. However, an Australian deal is yet to be announced ahead of the pause expiring on Friday. Donald Trump's tariffs have caused uncertainty in financial markets. (Getty) Australia is currently subject to a baseline 10 per cent tariff, but what that figure will be as of Friday is unclear. Trump said last week he would be sending out lett...

6Jul

By AdminsNo Comments

Tears of the UK’s treasury chief spooked financial markets

The weekly session in which the British prime minister is questioned by lawmakers in Parliament can be an ordeal for the government leader. For Cabinet members, it’s usually simply a matter of backing their boss. But on Wednesday the spotlight ended up on Chancellor of the Exchequer Rachel Reeves during the Prime Minister's Questions session because it became evident that she was crying as she sat beside Prime Minister Keir Starmer. This screen grab of Chancellor of the Exchequer Rachel Reeves, right, crying as Prime Minister Keir Starmer speaks during Prime Minister's Questions in the House of Commons, London, Wednesday July 2, 2025. (House of Commons/AP) It's not known what triggered the tears, later said to have been personal. They came as Starmer sought to ...