UK retail sales declined more than expected in October as consumers reduced their spending on food and clothing, data released by the Office for National Statistics showed on Friday. Retail sales dropped 0.7 percent on a monthly basis in October, in contrast to the revised 0.1 percent rise in September. Sales were expected to fall...
Germanys private sector continued to contract in November as sustained weakness in manufacturing output was compounded by the first fall in services activity for nine months, flash Purchasing Managers survey compiled by S&P Global showed Friday. The HCOB composite output index dropped to 47.3 in November from 48.6 in the previous month. The score signaled...
The euro weakened against other major currencies in the European session on Friday, as traders bet a possibility of an interest-rate cut by the European Central Bank (ECB) after data from Germany and the Eurozone showed that the business activity in the private sector contracted in November. Concerns about trade war with the United States...
The major European markets are turning in a mixed performance on Friday with investors reacting to regional economic data and corporate news, in addition to following developments on the geopolitical front. Bank stocks are mostly down with notable losses, while real estate and retail stocks are finding support. Data showing an increase in consumer confidence...
Renewed rate cut bets helped the FTSE 100 outperform other markets in Europe amidst disappointing economic data updates. The benchmark is trading above 8,200, the highest since late October. More than 10 percent of the scrips in the index have recorded gains in excess of 3 percent. Retail sales declined 0.7 percent in October versus...
The euro area private sector fell back into the negative territory in November as services activity shrank for the first time in ten months, joining manufacturing in contraction zone, survey results from S&P Global revealed Friday. The composite output index registered 48.1 in November, which was the lowest since January, and down from 50.0 in...
The FTX bankruptcy estate disputes Backpack’s claim that it can return funds to former FTX EU customers, and it says Backpack was not authorized to do so.Backpack insists it legally acquired FTX EU and received regulatory approval, but the FTX estate maintains that fund distribution must follow the court-approved process. The FTX bankruptcy estate has...
A social media poll by Michael Saylor shows 77.7% of participants plan to increase their Bitcoin holdings in 2025. Microstrategy aims to raise $42 billion through its new “21/21 Plan” to buy more Bitcoin. It currently holds 446,400 BTC worth approximately $27.9 billion. A recent social media poll by Microstrategy’s Executive Chairman, Michael Saylor, revealed substantial...
European banks are launching crypto trading under MiCA, and major institutions like BBVA are leading the way.Rising demand and clear regulations drive banks to integrate digital assets into traditional finance. European banks are now on a new level in adopting cryptocurrencies, as the top players plan to start trading services. MiCA regulation is now fully active,...
Crypto analyst StephisCrypto has generated discussion in the crypto community by comparing Bitcoin’s rise from $2 in 2012 to $1,200 in 2014 to the potential for XRP to follow a similar path.XRP has the potential to replicate Bitcoin’s growth due to two key factors: the expected approval of XRP-based ETFs, mirroring Bitcoin’s approval in January...