Business

Bitcoin extended its streak of record highs after ticking above $99,000 (around €95,000) for the first time overnight. The cryptocurrency has rocketed more than 40% in just two weeks. ADVERTISEMENT Bitcoin is at the doorstep of $100,000, just two years after dropping below $17,000 following the collapse of the crypto exchange FTX. The dramatic rally arrives as industry players expect …

The Swedish battery developer and manufacturer, Northvolt, has filed for bankruptcy in the US, as the company struggles with mounting debt, after it was unable to secure rescue funding and was left with only one week of cash reserves. ADVERTISEMENT Swedish battery cell maker Northvolt AB, which produces battery cells for electric vehicles (EVs), has announced that it has filed …

Europe’s biggest economy expanded by 0.1% in the third quarter, revised down from the first estimate of a 0.2% rise. ADVERTISEMENT After a subdued performance in the first six months, the German economy began the second half of the year with modest growth. The GDP increased by 0.1% in the third quarter, compared to the previous three months, according to …

Eurozone business activity fell sharply in November, with services joining manufacturing in contraction. The Composite PMI hit 48.1, signalling the steepest decline since January. The euro and bond yields weakened, while equities turned red, with banks witnessing sharp declines. ADVERTISEMENT Business activity in the eurozone contracted unexpectedly in November, driven by a sharp deterioration in the services sector. The Flash …

The European stock markets rebounded on Thursday but remained in negative territory for the week as rising geopolitical tensions weighed on sentiment. ADVERTISEMENT Stock markets on both sides of the Atlantic diverged this week. The European equities remained under pressure amid rising geopolitical tensions, while Wall Street sustained the upside momentum following robust Nvidia’s quarterly earnings result. The escalation in …

EU new car registrations rose in October, boosted by robust performance in Germany and Spain. ADVERTISEMENT New car registrations in the EU inched up 1.1% in October, according to the European Automobile Manufacturers’ Association (ACEA)’s latest report, released on Thursday. This increase was mainly because of a rebound in Germany, where registrations grew 6%, after three months of decreasing sales. …

The price of Bitcoin reached $97,000 on Thursday, climbing 4.54%, marking an all-time high for the crypto currency. ADVERTISEMENT Bitcoin, considered part of the so-called ‘Trump trade’, has gathered pace since the US election outcome as investors have continued to gain confidence in political support for the crypto currency. At the time of writing, its price was at $97,000 (around …

The company’s journey to be one of the most prominent players in AI has produced some eye-popping numbers. Here’s a look at some of the figures. ADVERTISEMENT Nvidia has once again turned out quarterly results that exceeded Wall Street’s forecasts. The company has seen soaring demand for its semiconductors, which are used to power artificial intelligence applications. Revenue nearly doubled …

It’s an enormous price to pay for a little cup of coffee, but the man behind the pitch promises it won’t leave a bitter taste behind as it comes with the sweetener of a share of a dairy farm. ADVERTISEMENT A Scottish dairy farm is offering what it bills as the UK’s most expensive cup of coffee – £272 (€326) …

As Volkswagen’s wage negotiations enter a third round, employees have offered to accept a wage cut, in return for guarantees from the company that it will not shut down German plants, and will protect job security. ADVERTISEMENT German auto giant Volkswagen’s wage negotiations continue, as the third round of talks kicked off on Thursday, with only ten days left until …