Hong Kong (CNN Business)Global stocks were mixed on Wednesday after the Dow closed above 30,000 points for the first time, hitting pause on a market rally that has been fueled by encouraging vaccine news and signs that a formal transition of power is underway in Washington.US stock futures were little changed ahead of the open.…
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© 2020 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell My Personal Information | Ad Choices FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries.…
Data from cryptocurrency trading simulator Crypto Parrot has found that cryptocurrency traders on Bitfinex and BitMEX lost $US13.47 billion in 2020. The data found that $US9.26 billion of long positions and $US4.21 billion of short positions were liquidated over 2020. Credit: Crypto ParrotCrypto shorting is a bet that the price of a certain crypto asset…
Cryptocurrencies have had a rocky road towards mainstream acceptance. In 2017, the CEO of JP Morgan, Jamie Dimon, called bitcoin “a fraud”. However in 2019, JP Morgan became the first US bank to successfully test its own digital coin. The growth of digital currency has enthralled investors. Bitcoin, the world’s largest cryptocurrency by market…
“I AM BOTH impatient and disgusted.” So declares a letter on race sent on June 1st by Mary Barra, chief executive of General Motors (GM), to all of its suppliers. She is outraged by the killing of George Floyd, the latest in a long string of deaths of unarmed black Americans at the hands of…
A YEAR AGO your columnist joined a sailing trip to Islay, an island in western Scotland famous for peaty malt whisky that can singe the hair off your nostrils. The mooring was in front of a distillery called Ardbeg, its name painted in huge black letters on a whitewashed wall facing the sea. Its breakfast…
The crisis has hit tech’s spiritual home hard, but it is already planning aheadEditor’s note: The Economist is making some of its most important coverage of the covid-19 pandemic freely available to readers of The Economist Today, our daily newsletter. To receive it, register here. For our coronavirus tracker and more coverage, see our hubFIRING…
Japanese firms are more vulnerable to cyber-attacks than Western peersJAPAN HAS a reputation for technophilia. Robots have even been enlisted to cheer players at professional baseball games while covid-19 keeps fans away from stadiums. Yet when it comes to more humdrum information technology (IT), the country lags behind other advanced economies—nowhere more so than in…
SCHUMPETER IS ONLY an amateur stargazer. His equipment is no fancier than a pair of eyes and a place in the countryside, away from London’s light pollution. That is enough to make out Venus, Mars, Jupiter and Saturn—and, occasionally, the International Space Station crossing the firmament. In the past few years a new spectacle has…