Centrica, the owner of British Gas, has reinstated its dividend for the first time since 2020 after operating profits increased more than fivefold during the energy crisis, buoyed by higher revenues from its oil, gas and nuclear assets. The company, which is the biggest energy retailer in the UK, said on Thursday that it would
EDF has reported a record €5.3bn first-half loss and warned that the financial hit from outages at its nuclear plants would worsen in the months ahead, just as the French government prepares to take full control of the utility. The company on Thursday forecast that its output problems, exacerbated by unexpected shutdowns at some reactors
Shell has announced record profits for a second consecutive quarter and a $6bn share buyback scheme as the fallout from the war in Ukraine generates bumper earnings for the world’s oil and gas majors. Europe’s largest oil company posted adjusted earnings — the profit measure most closely tracked by analysts — of $11.5bn in the
On-chain metrics firm Santiment says it is still investigating the cause of a sudden surge of Ether (ETH) active addresses, which have eclipsed the previous all-time high (ATH) by a whopping 48% On Wednesday, the analytics firm tweeted that the number of daily active addresses on Ethereum had suddenly spiked to 1.06 million, shattering the
A panel of crypto industry experts “sees a fairly bright future ahead” for Binance coin, predicting bnb to rise to $781 by 2025 and $1,814 by the end of 2030. One expert explained that “Since the bnb chain ecosystem continues to grow, the price may reach as high as $3,000 in 2030.” BNB’s Price Predictions
Since the Federal Reserve in March embarked on what has become the fastest pace of interest rate rises since 1981, it has provided painstaking detail about its future plans to tighten monetary policy. On Wednesday, that changed, with chair Jay Powell announcing the US central bank would shy away from offering an official running commentary
Twitter is struggling with staff departures, falling morale and reduced spending by marketers as Elon Musk’s on-off pursuit of the social media company hits its $4.5bn-a-year advertising business. Company insiders, former staffers and ad industry executives have told the Financial Times that chief executive Parag Agrawal is leading an increasingly fraught effort to keep the
Beijing is seeking to mobilise up to Rmb1tn ($148bn) of loans for stalled property developments, in its most ambitious attempt to revive the debt-stricken sector and mollify home buyers who are boycotting mortgage repayments after lengthy construction delays. China’s property sector accounts for about one-third of total output in the world’s second-largest economy. The industry’s
Roughly six years ago in July 2016, an Ethereum hard fork was used to address the infamous DAO hack. This specific fork saw the chain split into two factions, and a new crypto asset called ethereum classic was introduced to the crypto community. For years now both chains have co-existed using the same proof-of-work (PoW)
An investigation reportedly launched by the Securities and Exchange Commission (SEC) into Coinbase’s alleged trading of unregistered securities could have a “serious and chilling effect” on crypto exchanges and token projects, according to a legal expert. Michael Bacina, an Australian digital assets lawyer with Piper Alderman told Cointelegraph that the impact on exchanges and projects
Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, believes that the U.S. Securities and Exchange Commission (SEC) neither has the resources nor the IQ points needed to correctly investigate crypto listings on Coinbase. Michael Burry on SEC Investigating Crypto Listings on Coinbase Famous investor and founder of investment firm Scion Asset
Ford overcame supply chain challenges to report higher vehicle sales and reaffirm its outlook for the year, but is “actively looking” to offset costs as inflationary pressures mount. The automaker reported revenue of $40.2bn in the second quarter, a 50 per cent jump from the same period last year, thanks to a 35 per cent
A logo of Meta Platforms Inc. is seen at its booth, at the Viva Technology conference dedicated to innovation and startups, at Porte de Versailles exhibition center in Paris, France June 17, 2022. Benoit Tessier | Reuters Check out the companies making headlines after the bell: Meta Platforms — Shares of the social media company
Federal Reserve officials made history on Wednesday by hiking rates by three-quarters of a percentage point for the second straight month, delivering the most aggressive tightening in more than a generation to curb surging inflation, but risking a sharp blow to the economy. Policy makers, facing the hottest price pressures in 40 years, lifted the
Russia could be a large player in the crypto mining space, experts in the field have established in research naming the most attractive regions for coin minting operations in the country. The capital Moscow is among the popular mining destinations alongside the places offering the cheapest power. Cost of Electricity, Logistics Determine Russian Miners’ Choice
In this article GSBD CMI Shipping containers are seen at a terminal inside the Port of Oakland as independent truck driver continue protesting against California’s new law known as AB5, in Oakland, California, July 21, 2022. Carlos Barria | Reuters Economists are forecasting the economy barely grew in the second quarter, and some expect that
Municipals were firmer following the Fed’s decision to hike rates another 75 basis points, while U.S. Treasuries rallied on the short end and equities ended up. Despite this being another “outsize rate increase” of 75 basis points, Brian Coulton, chief economist for Fitch Ratings, said “the Fed has still only raised interest rates back into
Taxable municipal issuance has plummeted this year as the shock of rising interest rates made the financing vehicle less enticing for issuers, both economically and psychologically. From becoming a replacement for tax-exempt advance refundings lost to 2017 tax law changes to broadening the investor base for munis, taxables have played a larger role in the
Gas and electricity bills for the most vulnerable households in Britain are predicted to soar to an average of £500 a month in January, stoking the cost of living crisis and increasing the pressure on the government to act to save millions of families from energy poverty. The warning from consultancy BFY Group came as
Ether (ETH) is down 11.5% in seven days even after the recent confirmation of the “Ethereum merge” transition to a proof-of-stake (PoS) consensus network in September. During the Ethereum core developers conference call on July 14, developer Tim Beiko proposed Sept. 19 as the tentative target date. The transition out of energy-intensive mining has been