Business
Bitcoin price tops $87,000 for first time amid ‘Trump pump’
Price has more than doubled in a year as traders hope Trump will favour crypto when he returns to White House The price of bitcoin has risen above $87,000 for the first time as it benefited from traders’ hopes that Donald Trump will favour cryptocurrencies when he returns to the White House. Bitcoin reached a record high of $87,198,…
Will Trump’s victory spark a global trade war?
Donald Trump vowed on his campaign that he would tax all goods imported into the US if he won back the White House. Following his victory, businesses and economists around the world are scrambling to work out how serious he is. In the past, Trump has targeted tariffs at individual countries such as China or…
Federal Reserve is set to cut rates again while facing a hazy post-election outlook
WASHINGTON (AP) — No one knows how Tuesday’s presidential election will turn out, but the Federal Reserve’s move two days later is much easier to predict: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year. The presidential contest might still be unresolved when the Fed ends its two-day…
Stock market today: Nasdaq edges back from its record as chip companies and Eli Lilly slump
NEW YORK (AP) — U.S. stock indexes edged lower Wednesday after drops for Eli Lilly and chip companies overshadowed a jump for Google’s parent company. The S&P 500 slipped 0.3% after drifting between small gains and losses several times, though it’s still near its all-time high set earlier this month. The Dow Jones Industrial Average edged…
Mexican economy a mixed bag for new president
After handing the reins of power to Claudia Sheinbaum on 1 October, Mexico’s outgoing president, Andrés Manuel López Obrador, hoisted her arm aloft in a joint show of victory. López Obrador – a hugely popular but controversial figure in Mexico – bequeathed more than just the presidential sash to his political protégé. She inherits a…
What we know about the McDonald’s E. coli outbreak
McDonald’s has temporarily removed quarter pounders and fresh, slivered onions from the menu in about a fifth of its US stores due to an outbreak of deadly E. coli poisoning. So far, the Centers for Disease Control and Prevention has recorded 49 cases of illness across 10 states. Ten cases resulted in patients being admitted…
Striking Boeing workers reject 35% pay rise offer
Striking Boeing workers have rejected a new offer from the plane-making giant, which included a 35% pay rise over four years. The International Association of Machinists and Aerospace Workers (IAM) union said 64% of its members voted against the proposed deal. More than 30,000 of Boeing’s employees have joined the walkout, which started on 13…
Musk v Ambani: Billionaires battle over India’s satellite internet
The race between two of the world’s richest men, Elon Musk and Mukesh Ambani, is intensifying as they prepare to face off in India’s satellite broadband market. After India’s government announced last week that satellite spectrum for broadband would be allocated administratively rather than through auction, this battle has only heated up. Mr Musk had previously criticised…
TikTok owner sacks intern for sabotaging AI project
TikTok owner, ByteDance, says it has sacked an intern for “maliciously interfering” with the training of one of its artificial intelligence (AI) models. But the firm rejected claims about the extent of the damage caused by the unnamed individual, saying they “contain some exaggerations and inaccuracies”. It comes after reports about the incident spread over…
Google turns to nuclear to power AI data centres
Google has signed a deal to use small nuclear reactors to generate the vast amounts of energy needed to power its artificial intelligence (AI) data centres. The company says the agreement with Kairos Power will see it start using the first reactor this decade and bring more online by 2035. The companies did not give…