Tag: High

Federal Reserve’s banking bailouts reach a new weekly high of $103B

boss

The American central bank’s emergency fund for embattled banks has seen its highest level of distressed asset redemptions since its inception three months ago. The emergency lending program — known as the Bank Term Funding Program (BTFP) — was introduced in March amid the United States banking crisis which saw the collapse of Silicon Valley Bank, among others. The fund essentially is aimed at backstopping banks and other depository firms. According to data from the Federal Reserve Bank of St. Louis, the Fed’s Bank Term Funding Program (BTFP) has reached a record…

H&M Shares Soar 17%, Hits 16-Month High

The company’s CEO Helena Helmersson said H&M upped sales in multiple markets even as customers reduced their spending behavior. On Thursday, popular fashion retailer H&M saw its shares reach a 16-month high as its Q2 profits exceeded expectations. The multinational clothing company gained 16.74% to reach its highest level since February 2022. At a time when people are spending more on food to survive the increasing cost of living, the retailer managed to surge as it targets shoppers less vulnerable to the high standard of living. H&M also began to…

BCH Price Jumps to One-Year High Fueled by Spiking Social Interest, EDX Markets Support

The Bitcoin Cash network was forked from the original Bitcoin blockchain in July 2017 and aimed to serve as a payment network. Despite early optimism, the blockchain’s traffic is dwarfed by Bitcoin’s transaction numbers. Some $92 million in BCH has been transferred in the last 24 hours, compared to $11 billion in BTC, blockchain data by BitInfoCharts show. BCH is still 95% down from its $4,355 all-time high price reached in December 2017, according to CoinMarketCap. Source

Bitcoin (BTC) Price Retreats Slightly From 12-Month High

boss

Belgium’s top markets regulator is ordering embattled crypto exchange Binance to immediately cease serving local customers, according to a Friday notice. The Financial Services and Markets Authority (FSMA) said Binance is “offering and providing exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services, from countries that are not members of the European Economic Area,” which the regulator says is in violation of a prohibition. “The FSMA has therefore ordered Binance to cease, with immediate effect, offering or providing any and all such services…

High exchange inflow shows correction possibility for bitcoin

boss

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The latest bull run has helped the global crypto market to rise by roughly $150 billion in just two weeks. However, as the heat grew, selling pressure rose nonetheless, triggering a notable downtrend. According to data provided by CryptoQuant, there is still a possibility of a correction for the largest cryptocurrency, bitcoin (BTC), despite being down by 1.35% in the past 24 hours. Usually, the BTC price rise has helped the global crypto market cap to…

Business Activity Growth Slows in Europe as Economy Suffers from High Interest Rates

There is a recorded plunge in business activity as Europe reels from rising inflation and a consistent increase in interest rates. Business activity in Europe is waning as the region suffers slow economic growth. Recent data shows that the euro zone’s flash composite Purchasing Managers’ Index (PMI) fell from 52.8 in May, to 50.3 in June. Although analysts had predicted 52.5, any score above 50 represents growth, while scores less than 50 points to shrinkage. In a conversation with CNBC’s Street Signs Europe, S&P Global Market Intelligence’s chief business economist,…