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Bitnomial Granted CFTC Approval to Operate as VerticallyIntegrated Cryptocurrency Exchange and Clearinghouse

Bitnomial, a Chicagobased cryptocurrency derivatives exchange and brokerage, has received approval from the U.S. Commodities Futures Trading Commissio

Bitnomial, a Chicagobased cryptocurrency derivatives exchange and brokerage, has received approval from the U.S. Commodities Futures Trading Commission CFTC to operate as its registered clearinghouse. This certification is noteworthy since it is the first time a vertically integrated market structure in the cryptocurrency field has received permission from the CFTC. Bitnomial is already licenced as a broker and exchange. The licence comes as the Bitcoin sector is being examined more closely due to worries about possible conflicts of interest in vertically integrated institutions. Luke Hoersten, CEO of Bitnomial, emphasised that the company can now concentrate on growing its clientele and product line. Read More..

B2B Tech News | 4 months ago        

Dow Jones Hits First Record Closing High Since January 2022 on Feds Interest Rate Policy

The S&P 500 and Nasdaq both had more than 1% gains following the Federal Reserves announcement that interest rates would no longer rise and that borro

The S&P 500 and Nasdaq both had more than 1% gains following the Federal Reserves announcement that interest rates would no longer rise and that borrowing costs would decline in 2024. Meanwhile, the Dow Jones industrial average hit its first closing high record since January 2022. The central banks Interest rates remained steady, and by the end of 2024, 17 out of 19 Fed officials predicted a lower policy rate. At a news conference, Fed Chair Jerome Powell stressed that the Fed is no longer expected to raise interest rates and that the goal is to avoid being too high for too long. The Nasdaq and S&P 500 closed the year at record highs. Read More..

B2B Tech News | 4 months ago        

Berkshire Hathaway Boosts Stake in Occidental Petroleum with $588.7 Million Purchase

This week, Berkshire Hathaway, under the leadership of Warren Buffett, paid around $588.7 million to purchase almost 10.5 million shares of Occidental

This week, Berkshire Hathaway, under the leadership of Warren Buffett, paid around $588.7 million to purchase almost 10.5 million shares of Occidental Petroleum, bringing its position to roughly 27%. In addition, as part of an agreement that helped Occidental finance its 2019 acquisition of Anadarko Petroleum, Berkshire is the owner of preferred shares and rights to purchase an additional 83.8 million Occidental shares for $4.7 billion, or $56.62 per share. The warrants would increase Berkshires stake to 33 per cent if exercised. The latest acquisitions come after Berkshire paid around $14.4 billion to acquire a 25.8% share in Occidental on October 25. Read More..

B2B Tech News | 4 months ago        

Argentina Expects December Inflation to Surpass Novembers 12.8%

According to Luis Caputo, Argentinas Minister of Economy, the countrys inflation rate is predicted to be "substantially higher than in November." Arge

According to Luis Caputo, Argentinas Minister of Economy, the countrys inflation rate is predicted to be "substantially higher than in November." Argentinas monthly inflation rate hit a record high of 12.8% in November, the highest of the year. Caputo recently unveiled economic measures, such as a peso devaluation of more than 50% to 800 per US dollar and reductions in energy and transit subsidies. The reduction in energy subsidies is expected to start in February or March of the following year. In light of the nations economic difficulties—including high inflation and a significant loan programme with the IMF—the government intends to restructure its deal with the IMF. Read More..

B2B Tech News | 4 months ago        

British Firms See Slowing Chinese Economy as Bigger Challenge Than COVID Curbs

According to a poll conducted by the British Chamber of Commerce in China, 60% of British businesses believe that a slowing Chinese economy poses a mo

According to a poll conducted by the British Chamber of Commerce in China, 60% of British businesses believe that a slowing Chinese economy poses a more significant obstacle to their operations in the nation than the stringent COVID restrictions that were in place until late last year. According to the poll, British companies are putting off making new investments in China and giving the worlds secondbiggest economy less weight in their worldwide operations. According to the research, 60% of businesses said that conducting business in China had grown more challenging during the previous year, and 78% of those businesses attributed the difficulties to economic considerations. Read More..

B2B Tech News | 4 months ago        

JPMorgan Chase Considers Outsourcing Local Custody Business in Hong Kong and Taiwan

It is believed that JPMorgan Chase intends to outsource the management of its local custody business in Taiwan and Hong Kong, with Standard Chartered,

It is believed that JPMorgan Chase intends to outsource the management of its local custody business in Taiwan and Hong Kong, with Standard Chartered, HSBC, and Citigroup competing for the contract. The action aligns with a previous pattern in which JPMorgan has pulled out of lowermargin local custodian business from other Asia Pacific markets. According to reports, the bank plans to finish switching its local custody operations in Taiwan and Hong Kong to a different bank by the end of the following year, signalling its departure from the local custodian market in the Asia Pacific area. The decrease in assets, which made the local custodian company less profitable, is the reason for the decision. Read More..

B2B Tech News | 4 months ago        

Oracle Forecasts Quarterly Revenue Below Estimates, Shares Drop Over 7%

Oracle has predicted lowerthanexpected quarterly revenue, citing factors hurting demand for cloud solutions, such as an unpredictable economy and comp

Oracle has predicted lowerthanexpected quarterly revenue, citing factors hurting demand for cloud solutions, such as an unpredictable economy and competitive cloud computing industry. This caused the companys shares to drop more than 7% during extended trading. Potential obstacles to its performance include the effect of Oracles acquisition of the Cerner company last year and the slowdown in enterprise expenditure. Oracle is attempting to fortify its AI infrastructure, but chances for market share are limited by fierce competition from big competitors such as Amazon and Microsoft. Oracle revealed sales of $12.94 billion for the second quarter, just below the analysts average expectation of $13.05 billion. Read More..

B2B Tech News | 4 months ago        

French AI Firm Mistral AI Raises €385 Million in Funding Round

In its second fundraising round in as many months, French artificial intelligence startup Mistral AI raised €385 million $414.41 million, with inves

In its second fundraising round in as many months, French artificial intelligence startup Mistral AI raised €385 million $414.41 million, with investors led by AndreessenHorowitz and LightSpeed Ventures. Although the business hasnt revealed its valuation, a person with knowledge of the situation pegged it at €2 billion, ranking the French firm among the worlds leading AI businesses. Only one month after its founding, in June, Mistral AI—which former Meta and Google AI researchers founded—raised €105 million. In addition, the business has introduced Mixtral 8x7B, an open model that aims to be Europes answer to AI platforms such as Googles Bard and OpenAIs ChatGPT. Read More..

B2B Tech News | 4 months ago        



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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