world economy

Brits pay $8.60 a gallon compared to $125 for petrol to fill up a family car

The cost to fill up an average family car in the UK has exceeded £100 for the first time ever. Photo Alliance | Getty Images Britons are now paying more than 100 pounds ($125) to fill up a mid-size family car after petrol prices crossed the psychological limit for the first time on Thursday. The …

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Crypto companies say thousands of cryptocurrencies will collapse

With over 19,000 virtual currencies in existence, the cryptocurrency industry has likened the current state of the market to the early years of the internet. However, industry players said most of these coins will collapse. Norfoto | Getty Images Several players in the crypto industry have told CNBC that thousands of digital tokens are likely …

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Terrestrial treasury disaster will likely be the “end” of algorithmic stablecoins

Luna, the sister cryptocurrency of the controversial stablecoin TerraUSD, has dropped to $0. The collapse of the stable algorithm coin TerraUSD has raised questions about the future survival of similar crypto assets. Dan Kitwood | Getty Images News | Getty Images The co-founder of CNBC’s digital currency peg told CNBC that algorithmic stablecoins like terraUSD, …

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The first step for self-driving car companies to make money is not the autopilot

A WeRide robotic taxi with sanitary supplies drives to Liyuan District on June 4, 2021 in the southern Chinese city of Guangzhou. Southern Metropolis Daily | China Optical Group | Getty Images BEIJING – While governments may be wary of self-driving cars, people want to buy technology, and companies want to make money. It is …

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Ripple and FTX to Look for Acquisition Targets as Market Collapses

Cryptocurrency majors Ripple and FTX told CNBC that they are looking at acquisitions as the industry hopes to drive growth by buying other companies. It is a sign that some crypto companies feel they are big enough and well capitalized to distribute cash to acquisitions. Brett Harrison, president of cryptocurrency exchange FTX US, said in …

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China faces a financing gap of nearly a trillion dollars. You will need more debt to pay it off.

During the first four months of the year, investment in real estate development was down 2.7% from a year ago. Pictured here is a project in Qingzhou, Shandong Province on May 15, 2022. CFOTO | Future Publishing | Getty Images BEIJING – The Chinese government is facing a growing cash shortage, analysts said, as they …

China faces a financing gap of nearly a trillion dollars. You will need more debt to pay it off. Read More »

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