Lawrence Gash

Iran to limit crypto exchanges

21 May 2020 @ 15:52
Parliament proposes amendment to ‘Currency Smuggling’ laws Iran’s parliament has moved to limit the development and spread of cryptocurrency exchanges within the Islamic republic. The amendments proposed by the government to the current Currency Smuggling laws would include cryptocurrencies for the first time. This would require crypto exchanges to obtain a licence from the Central […]
 

EasyJet admits cyber attack exposed personal details of 9m customers

20 May 2020 @ 16:08
British airline could face hefty fine from regulator The British airline EasyJet (EZJ) has admitted that the personal information of nine million customers was accessed in what it dubbed a “highly sophisticated” cyber-attack. Although no passport details were stolen and only 2,208 of the nine million people affected had their credit card details stolen, the revelation […]
 

Spotify shares surge after announcing Joe Rogan partnership

20 May 2020 @ 16:07
Audio streaming service secures exclusive rights to world’s most popular podcast Spotify saw its share price surge by 8.42 per cent by the end of Tuesday trading, helped in large part by the announcement of its new partnership with comedian, actor, presenter and MMA commentator Joe Rogan. Rogan, who has the most successful podcast on earth – […]
 

Record rise in Britons claiming unemployment benefit in April

19 May 2020 @ 15:40
Jobless claims in the United Kingdom surged by almost 70 per cent in April, the largest increase since records began. It is the latest example of the economic devastation wrought by Covid-19 crisis. According to the Office for National Statistics (ONS) around 856,500 people registered for universal credit and jobseeker’s allowance benefits last month, bringing […]
 

Largest contract chipmaker in the world halts deliveries to Huawei

19 May 2020 @ 15:38
US-China trade tensions flare up once more In the latest sign of deteriorating trade tensions between the United States and China, the largest contract chipmaker on earth has reportedly stopped shipments to Huawei Technologies. The Taiwan Semiconductor Manufacturing Co. (TSMC) will supposedly no longer take any new orders from the Chinese tech giant but will complete on […]
 

Nvidia accused of misrepresenting $1bn worth of crypto mining hardware sales

19 May 2020 @ 15:37
Disgruntled shareholders continue lawsuit against major chipmaker A group of shareholders continues to accuse the American chipmaker Nvidia (NVDA) of under-reporting its sales of equipment used to mine cryptocurrencies and of passing off the estimated $1bn raised from these transactions as gaming revenue. Legal proceedings have rumbled on since 2017.  However, in an amended suit filed […]
 

Zoom’s market cap is larger than the combined worth of world’s seven largest airlines

18 May 2020 @ 15:32
Video communications firm wins race for work-from-home market Zoom Video Communications (ZM) has capitalised on the worldwide shift to virtual working and now has a market cap larger than the world’s seven largest airlines put together. In December 2019, the company had 10 million daily meeting participants, by April 2020 this figure had surged to 300 […]
 

US markets open down on US-China tension

18 May 2020 @ 15:27
America’s three major indices have opened down in Friday trading as tensions between the United States and China reignite. Market sentiment had been fairly upbeat going into the week’s final day of trading. Growing confidence that lockdowns around the world were beginning to ease and a 3.9 per cent surge in Chinese factory output had […]
 

Mark Cuban: Consumer and corporate demand are "impossible to predict"

18 May 2020 @ 15:26
Mark Cuban, the outspoken billionaire entrepreneur, has outlined his belief that the market, post-coronavirus crash, is probably overvalued. Speaking to CNBC the American businessman stated: “I think it’s almost impossible to predict where consumer and corporate demand is going to come from. And because of that, it’s hard to create a valuation for businesses.” Despite […]
 

American unemployment swells to 36.5 million

15 May 2020 @ 15:35
Largest economy in the world nears Great Depression levels of unemployment Nearly 3 million Americans filed initial jobless claims last week, according to the latest data from the US Department of Labor, bringing the total number of people made redundant since the start of the Covid-19 crisis to 36.5 million people. That the number of claimants […]
 
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