After a slightly positive start and a subsequent fall into negative territory, the Canadian market edged higher Tuesday morning, amid optimism about the outlook for U.S. interest rates after data showed a slowdown in the annual rate of core consumer price growth in January. Technology, consumer discretionary, healthcare and industrials shares are among the notable...
Tether, the issuer of the world’s largest stablecoin, USDT, announced on March 11 the launch of its stablecoin on the Celo chain. In a statement, the stablecoin issuer said the expansion marks a major milestone for the firm and Celo. Tether Launches On Celo As of March 12, USDT is the largest stablecoin with a market...
The U.S. dollar was higher against its major counterparts in the New York session on Tuesday, after a data showed that consumer inflation increased in line with economist estimates in February, denting prospects of imminent rate cuts from the Federal Reserve. Data from the Labor Department showed that the consumer price index climbed by 0.4...
European stocks closed on a bright note on Tuesday with investors reacting positively to U.S. consumer price inflation data that raised optimism about the outlook for interest rates. Data showing a drop in German inflation, weak U.K. employment and wage growth data spurred hopes of rate cuts by the European Central Bank and the Bank...
Israel’s Central Bank unveiled plans on March 11 to launch an interest-bearing Central Bank Digital Currency (CBDC), dubbed the “digital shekel”. In a recent document, the Bank of Israel (BoI) outlined its proposal for the ‘digital shekel,’ highlighting key features such as wallet provision and bank payment services. Requirements for the ‘Digital Israeli Shekel’ The...
FOX Business analyst Eleanor Terrett opined on March 11 that the cryptocurrency industry is gaining influence as the 2024 U.S. elections draw near. She noted the increasing influence of crypto advocacy groups like Coinbase’s “Stand With Crypto Alliance” which boasts over 310,000 members, as an example. In an interview with Tony Edward of Thinking Crypto,...
This year, Equal Pay Day in the U.S. falls on Tuesday, March 12. So what is the significance of the Equal Pay Day? It is a day that was originated by the National Committee on Pay Equity, or NCPE, in 1996 to promote public awareness regarding the gap between men\'s and women\'s wages. This is...
Federal Deposit Insurance Corporation (FDIC) Vice Chairman Travis Hill criticized the United States Securities and Exchange Commission’s (SEC) controversial SAB 121 while saying that the FDIC’s regulatory approach has “significant downsides” in remarks given on March 11. Hill Takes FDIC’s Regulatory Approach Speaking at the Mercatus Center at George Mason University, Hill particularly took issue...
The Treasury Department\'s Bureau of the Fiscal Service released its monthly budget statement on Tuesday, showing the U.S. budget deficit widened significantly in the month of February. The statement said the budget deficit widened to $296.3 billion in February from $21.9 billion in January. Economists had expected the deficit to widen to $298.0 billion. The...
Kulicke & Soffa (NASDAQ:KLIC) Industries, Inc. (NASDAQ: KLIC), a global provider of semiconductor packaging and electronic assembly solutions, today announced the cancellation of a previously undisclosed advanced display technology project, referred to as Project W, by one of its strategic customers. This cancellation has led the company to initiate a wind-down of operations related to...