Economy

Italy’s government is bailing out two banks in the Venice region at a cost of 5.2bn euros (£4.6bn; $5.8bn). The move comes two days after the European Central Bank warned that Banca Popolare di Vicenza and Veneto Banca were failing or likely to fail. The banks’ “good” assets will be …

Alibaba founder Jack Ma spent 800 hours traveling around the world last year and plans to increase that to 1,000 in 2017, discussing his growing e-commerce platform, globalisation and artificial intelligence. The billionaire Chinese businessman sat down his week at the Gateway ’17 conference in Detroit for a wide-ranging interview …

Amazon has announced plans to acquire leading US organic food grocer Whole Foods Market for $13.7 billion. The e-commerce giant is making a huge bet on physical stores and the business of food. In a deal that is set to be sealed in the second half of the year, Amazon …

The Bitcoin market hit record highs over the weekend before dropping further than it has in years. Several exchanges for the cryptocurrency suffered outages during the fluctuation, leaving customers unable to buy or sell for hours. Coinbase, one of the most popular ways to buy and sell popular cryptocurrencies such …

Just minutes ahead of James Comey’s testimony that many hoped would lead to Trump impeachment, it appears someone decided it was an opportune time to dump $4 billion notional gold futures, seemingly confident this will not be a “constitutional crisis.” Over 30,000 contracts suddenly flushed ahead of Comey… This move …

Bitcoin’s rocketing rise in value shows no sign of abating after breaking the $2,900 mark Tuesday. The digital payment reached a value of $2,967.48 at around 1.20pm UTC Tuesday, according to the Coindesk Bitcoin Price Index. The pricing is a record high for the cryptocurrency which has been hit with …

The 2017 ASX Australian investor study results were recently released, here are the top 10 findings from the report: 1 – 60% of Australian adults or 11.2 million people hold investments outside of their institutional superannuation fund. 2 – 37% of Australian adults or 6.9 million people hold investments that are available …

Recently, I wrote about a small $100,000 trade of cheese and butter. Why? This one trade changed 400 years of history in just four hours. How so? Normally, it would take 10 days to handle the paperwork. But this trade concluded in less than four hours. The solution: a blockchain platform that …

There is much debate about where the U.S. economy is ultimately heading, but what everybody should be able to agree on is that economic conditions are significantly worse this year than they were last year. It is being projected that U.S. economic growth for the first quarter will be close …

German carmaker Volkswagen will pay a $2.8 billion criminal penalty for cheating on diesel emissions test, in a negotiated settlement with the US Justice Department. US District Judge Sean Cox ordered the fine on Friday, following the terms of the deal in which Volkswagen pleaded guilty to conspiracy and obstruction …