(Bloomberg) -- Trading volumes in nonfungible tokens -- digital art and collectibles recorded on blockchains -- have tumbled 97% from a record high in January this year. They slid to just $466 million in September from $17 billion at the start of 2022, according to data from Dune Analytics. The fading NFT mania is part of a wider, $2 trillion wipeout in the crypto sector as rapidly tightening monetary policy starves speculative assets of investment flows.
Just a few days ago we wrote that "Something Is About To Break" and prompt a capitulation from one or more central banks, which oddly was met with mockery in the comment gallery. Also, a few weeks ago, we said that we are nearing a moment in time when central banks will do QE and rate hikes at the same time.
The pound plunged to an all-time low of 1.035 against the US dollar on Monday as traders bet that looming tax cuts could fuel inflation, prompt faster interest-rate hikes, and undermine Britain's already-shaky economy.
When asked about price inflation in his Sunday interview with 60 Minutes, President Biden claimed that inflation "was up just an inch...hardly at all." Biden continued the dishonest tactic of focuses on month-to-month price inflation growth as a means of obscuring the 40-year highs in year-over-year inflation. This strategy may yet work to placate the most ignorant voters, but people who are paying attention know that price inflation continues to soar.
It’s not what the Federal Reserve does, but what it says it could do in the future that will be most crucial when the central bank ends its two-day meeting Wednesday.
On Friday, the European Central Bank (ECB) announced that it had selected e-commerce giant Amazon.com (AMZN 0.92%) and four other entities to develop user interface prototypes for a possible digital version of the euro.
A German bakery was slapped with a €330,000 (US$330,000) gas bill after a new energy company suddenly terminated their contract which guaranteed pricing until the end of 2023, Junge Freiheit reported, citing Bild.
Update: Following FedEx's ugly pre-announcement, CEO Raj Subramaniam, went further into the drivers behind his company's decision to pull guidance during an interview with Jim Cramer of CNBC.
Desperate times call for desperate measures, and times are, arguably, increasingly desperate. The persistence of high inflation might force the Federal Reserve to resort to the biggest increase in a key U.S. interest rate in more than 40 years.
WASHINGTON (AP) — U.S. inflation is showing signs of entering a more stubborn phase that will likely require drastic action by the Federal Reserve, a shift that has panicked financial markets and heightens the risks of a recession.
Inflation rose more than expected in August as rising shelter and food costs offset a drop in gas prices, the Bureau of Labor Statistics reported Tuesday.
More than six months into the Russian invasion of Ukraine, the global fertilizer crunch threatens to starve a planet as prices are too high for some farmers ahead of the next planting season.
A Northern California school district is testing out a novel solution to its housing shortage for teachers: asking community members to rent them rooms.
The EU is seeking mandatory cuts in electricity use during peak hours, and wants to funnel windfall revenues from energy companies to poorer firms and households.
Libraries, community centres and art galleries could become 'warm banks' where Britons struggling to heat their homes amid soaring energy bills shelter this winter.
Over the past week, shocked Europeans - mostly in the UK and Ireland - have been posting viral photos of shockingly high energy bills amid the ongoing (and worsening) energy crisis.
Pope Francis has ordered that the Holy See and connected entities move all financial assets to the Institute for Works of Religion (IOR), commonly known as the Vatican bank.
Those excited about the forthcoming student loan forgiveness are now finding out that they may wind up getting hit with a state tax bill on forgiven loans.
At least 20 million households -- or about 1 in 6 American homes -- are behind on their power bills as soaring electricity prices spark what is said to be the worst-ever crisis in late utility payments, according to Bloomberg, citing data from the National Energy Assistance Directors Association (Neada).
