Business

Bitcoin’s price retraced sharply from recent highs following concerns sparked by Google’s quantum computing advancements. Despite regulatory uncertainties and potential risks, analysts remain optimistic about the cryptocurrency’s long-term outlook. ADVERTISEMENT Bitcoin’s price topped the $100,000 (€95,268) mark this month following Trump’s nomination of the pro-crypto Paul Atkins to be the new leader of the US Securities and Exchange (SEC). The …

Zalando says the deal will help it to build a pan-European e-commerce platform. ADVERTISEMENT Germany’s online retailer Zalando said on Wednesday that it had agreed to buy rival fashion group About You for around €1.1bn. Zalando said it would offer €6.50 for each About You share, a premium of 67% on Tuesday’s closing price. It also represents a 107% premium …

Gold prices surged to a more than two-week high amid China’s return on gold buying and rising geopolitical tensions following the Syrian unrest. However, an analyst suggests caution. ADVERTISEMENT Gold prices rose for the past two trading days, fuelled by mounting haven demands and China’s renewed gold purchases. Expectations for further rate cuts by major central banks have also contributed …

“Booksellers save lives. Period,” the author said in a statement through his publisher, Little, Brown and Company. “I’m happy to be able to acknowledge them and all their hard work this holiday season.” ADVERTISEMENT Staffers at Thank You Books in Birmingham, Alabama, San Francisco’s City Lights Books and The Nook in Cedar Falls, Iowa, are among 600 booksellers receiving $500 …

BP is creating a joint venture to bring about ‘one of the largest global offshore wind developers’ while lowering its share of investment in renewables. ADVERTISEMENT British oil company British Petroleum (BP) and Japan’s largest power firm JERA have created an equally owned joint venture to create one of the world’s biggest global offshore wind businesses. BP and JERA agreed …

The trust divides control of the company equally among four of Rupert Murdoch’s children – Prudence, Elisabeth, Lachlan and James – after he dies. Lachlan Murdoch has been the head of Fox News and News Corp since late last year, when his father stepped down. ADVERTISEMENT A court has ruled against Rupert Murdoch’s effort to change his family’s trust to …

European car markers are struggling to keep up with their Chinese counterparts in electric cars, a key pillar of the green transition that the EU is pursuing in order to bring in electric-only vehicles by 2035. ADVERTISEMENT Chinese electric battery giant CATL and car maker Stellantis have announced they are to build a major battery factory in northern Spain. The …

Management and unions at Volkswagen have yet to find common ground in talks concerning the German car maker’s proposal on possible job cuts and plant closures. Workers took strike action on Monday. ADVERTISEMENT The fourth round of collective bargaining negotiations at Volkswagen AG on Monday failed to find a solution between management and unions.  Thousands of employees downed tools for …

Nvidia shares slid amid an escalation in the tech trade war as China launched a probe into the company on suspicion of breaching the anti-monopoly law. ADVERTISEMENT Nvidia’s shares fell as China opened a probe into the tech giant on suspicions of violation of the country’s anti-monopoly law. The investigation followed the Biden administration’s fresh restrictions on AI chip export …

Crude oil prices retreated from Monday’s gains amid weak demand outlooks, following disappointing Chinese international trade data for November. ADVERTISEMENT Crude oil prices slid following disappointing China’s international trade data in the Asian session on Tuesday. At 6 am CET, Brent futures were down 0.37% to $71.9 per barrel, and the WTI futures slipped 0.45% to $68.06 per barrel. The …