Author: Daniel snow

Bitcoin price hits new record high above $111,000

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Romain Costaseca | Afp | Getty ImagesBitcoin continued its rally on Thursday, hitting a brand new record high above $111,000.Bitcoin hit $111,886.41 in early trading hours in London, according to Coin Metrics, before paring some of those gains to trade at around $111,012.00 at 07:03 a.m. London.Bitcoin’s move has been “driven by a mix of positive momentum, growing optimism around U.S. crypto regulation, and continued interest from institutional buyers,” James Butterfill,  head of research for crypto-focused asset manager CoinShares, told CNBC by email.The price rise in world’s largest cryptocurrency is taking place despite a drop in U.S. stock markets on Wednesday.Bitcoin has typically correlated with…

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Russia’s war economy might drive Moscow to the negotiating table

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Russian President Vladimir Putin tours an exhibition at the Central Museum of the Great Patriotic War on Poklonnaya Gora in Moscow, Russia, April 30, 2025.Alexander Kazakov | Via ReutersRussia has shown little appetite for peace negotiations with Ukraine, despite Moscow making a show of what war experts described as “performative ceasefires,” and a number of attempts by U.S. President Donald Trump to persuade Russian leader Vladimir Putin to talk to Kyiv.In fact, Moscow is widely believed to be planning a new summer offensive in Ukraine to consolidate territorial gains in the southern and eastern parts of the country, that its…

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Xpeng shares soar 10% in Hong Kong as Chinese carmaker forecasts upbeat revenue

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Guangzhou-based Xpeng is one of several Chinese electric car companies that’s started to expand overseas.Feature China | Future Publishing | Getty ImagesChinese electric-vehicle maker Xpeng saw its shares in Hong Kong surge over 10% Thursday following upbeat earnings and stronger-than-expected revenue forecast for the second quarter.Its shares soared as much as 10.2% to 85.5 Hong Kong dollars ($10.86), and were last trading 7% higher, taking year-to-date gains to 78%.The Guangzhou-based carmaker’s first-quarter revenue more than doubled from a year earlier, driven by robust sales.Xpeng said it delivered 94,008 vehicles in the first three months this year, more than four times…

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Emerging markets are the next ‘bull market’ says market watchers

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Traffic outside the Central Bank of Brazil headquarters in Brasilia, Brazil, on Monday, June 17, 2024.Bloomberg | Bloomberg | Getty ImagesEmerging markets stocks are in the spotlight again as the “sell U.S.” narrative gained fresh momentum, following Moody’s recent downgrade of the U.S. credit rating.The Bank of America heralded emerging markets as “the next bull market” recently. “Weaker U.S. dollar, U.S. bond yield top, China economic recovery…nothing will work better than emerging market stocks,” Bank of America’s team, led by investment strategist Michael Hartnett, said in a note. Similarly, JPMorgan upgraded emerging market equities from neutral to overweight on Monday, citing thawing…

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