Bitcoin had an eventful week. The cryptocurrency surged past the $120,000 threshold for the very first time on Monday as crypto investors anticipated U.S. legislation that could could boost institutional demand. Bitcoin rose over 3% to a record high of $123,153.22 on Monday , but has since lost some steam. It was seen up 1.08% at $119,833.56 at 3:45 a.m. ET on Friday, according to CoinMarketCap . The pullback in prices came after cryptocurrency-related bills were blocked in the U.S. House of Representatives on Tuesday, with 13 Republicans voting with Democrats to block the motion in a 196-223 vote. Bitcoin…
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Earnings season has kicked off in Europe , and the impact of U.S. tariffs are beginning to show up in the hard numbers. That has now made analyst consensus — which just last week predicted a mild 0.2% dip in profits for companies on the Stoxx Europe 600 index — forecast a 0.7% year-over-year decline, according to LSEG data. The gloomier forecast comes as a growing number of European industrial and consumer giants report that tariffs are hitting sales, raising costs, and cooling the investment environment. Manufacturing The auto industry is on the front lines of the trade conflict. Jaguar Land…
Aerial view of a ship at sea.Suriyapong Thongsawang | Moment | Getty ImagesThe European Union has reached an agreement on a new sanctions package against Russia, which includes a lower price cap for Moscow’s crude oil barrels.Within a year of Russia’s 2022 invasion of Ukraine, the G7 and EU restricted the price at which non-G7 countries could continue purchasing Moscow’s crude and oil products while using shipping and logistical services from G7 companies.The measures aimed to limit Russia’s oil revenues — the backbone of its economy and war coffers — while retaining the country’s supplies in the market to avoid…
The British government is set to give 1.5 million 16 and 17-year-olds the vote, unlocking a new voter base for competing political parties. Social media could be key to their success.The government on Thursday said that it plans to bring forward an elections bill which will grant 16 and 17-year-olds the right to vote in all U.K. elections.It marks the biggest change to Britain’s electorate since the voting age was reduced from 21 in 1969.If approved by parliament, it would be a major overhaul of the country’s democratic system. The proposal, which was included in last year’s Labour manifesto, will…
The New York Stock Exchange on April 8, 2025.Angela Weiss | Afp | Getty Images Despite the noise around tariffs and inflation fears, the U.S. economy seems to be holding its ground — for now. June retail sales came in stronger than expected, and weekly jobless claims dropped below forecasts.Add to that a solid start to earnings season, and you’ve got a recipe for record highs: both the S&P 500 and Nasdaq notched fresh peaks.So, is the economy truly resilient in the face of the Trump administration’s shifting trade winds? Or are we simply in the eye of the storm, with August 1 — the…
Former Federal Reserve Governor Kevin Warsh, reportedly on President Donald Trump’s short list to lead the institution, called Thursday for sweeping changes on how the central bank conducts business and suggested a policy alliance with the Treasury Department.”We need regime change in the conduct of policy,” Warsh said during an interview on CNBC’s “Squawk Box.” “The credibility deficit lies with the incumbents that are at the Fed, in my view.”Principal among those holdover officials is Chair Jerome Powell, who repeatedly has incurred Trump’s wrath and is certain not to be reappointed when his term expires in May 2026, if attempts…
A Swedish Air Force Saab JAS 39 Gripen jetfighter takes part in the NATO exercise as part of the NATO Air Policing mission, in Alliance members’ sovereign airspace on July 4, 2023.John Thys | Afp | Getty ImagesShares of Swedish defense giant Saab jumped on Friday morning, after the company reported stronger-than-expected profit and sales growth for the second quarter.Shares were last seen trading 12.16% higher at 3:53 E.T.Saab’s operating income for the second quarter came in at 1.98 billion Swedish kronor ($200 million), marking a 49% year-on-year jump and a beat on the 1.71 billion krona expected by analysts polled by…
Digital generated image of a futuristic financial dashboard with holographic displays of various stock market graphs and data visualizations. The scene includes detailed graphs with line and bar charts, real-time data feeds, and transparent screens, indicating a high-tech, data-driven environment suitable for financial analysis and trading.Eugene Mymrin | Moment | Getty ImagesCNBC’s Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. Sign up to receive future editions.Overview: The market’s taking offIt’s that time of the year again, when CEOs take a deep breath, analysts ready their calculators, investors obsessively refresh stock tickers and every market…
Burberry sales saw smaller-than-expected decline in first quarterPedestrians walk past the window display of the store of British fashion label Burberry, in central London, on September 2, 2024.Henry Nicholls | Afp | Getty ImagesBurberry’s comparable store sales fell by a smaller than expected 1% in its fiscal first quarter, as the luxury fashion house touted its turnaround strategy as “positioning the business for a return to sustainable, profitable growth.”Analysts had been expecting a year-on-year decline of 3%, according to news agency Reuters.During the same period a year ago, comparable sales fell by 21% year on year.— Chloe TaylorEU-U.S. trade agreement…
A missile is intercepted over Tel Aviv on June 20, 2025, after a Iran fired a fresh salvo of missiles.John Wessels | Afp | Getty ImagesIsrael’s stock market is at a record high and has seen the greatest gains of any country in the Middle East over the 22 months of war that began on Oct. 7, 2023. Israel has been waging multi-front wars, sustaining the mobilization of hundreds of thousands of troops that would ordinarily be part of the workforce, it’s currently facing charges of war crimes in international courts, all while grappling with a large protest movement and political…
