The financial technology industry is undergoing a significant transformation, with industry insiders and investors indicating that the sector has experienced a notable shift. At the recent Money20/20 event in Amsterdam, executives and investors shared their observations with CNBC, highlighting that valuations have adjusted from the unsustainable highs seen during the industry’s peak in 2020 and
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Recent reports suggest that the U.S. could be considering further restrictions on China’s access to chip technology critical for artificial intelligence. Specifically, the Biden administration is evaluating actions that would target high-tech chip architecture known as gate all-around (GAA). This new transistor architecture has the potential to improve performance and reduce power consumption significantly. Countries
Singapore is on track to become a prominent gold hub as trading patterns shift towards the East, largely due to the increasing gold consumption in major emerging economies. Shaokai Fan, the head of Asia-Pacific and global head of central banks at the World Gold Council, pointed out that a majority of these growing markets are
In the wake of the recent European Union election, German Chancellor Olaf Scholz finds himself under intense pressure as the far-right AfD party managed to secure a substantial 15.9% of the vote. This victory for the AfD comes in the face of multiple scandals and setbacks, signaling a shift in the political landscape of Germany.
The European Union elections have been underway, with millions of citizens participating in the democratic process. This year’s election has been met with anticipation and scrutiny, as far-right parties gain momentum across Europe. The outcome of the election is crucial for shaping the direction of the European Parliament for the next five years. Voter turnout
Norway’s $1.7 trillion sovereign wealth fund has made a bold decision to vote against ratifying Tesla CEO Elon Musk’s $56 billion pay package. This decision comes after a Delaware judge invalidated the pay package earlier this year, deeming it unfair to shareholders. Despite acknowledging the significant value generated under Mr. Musk’s leadership since the grant
The latest U.S. jobs report for the month of May brought unexpected good news to the economy. Nonfarm payrolls expanded by a remarkable 272,000, surpassing the Dow Jones consensus estimate of 190,000. This significant increase in job creation has countered fears of a potential slowdown in the labor market, providing a positive outlook for the
Scientist Lee Seok Woo drew inspiration from a “Mission Impossible” movie scene to create his latest invention: batteries for smart contact lenses. In the movie, an agent wears contact lenses equipped with facial recognition and eye tracking capabilities, sparking Lee’s interest in turning this fictional technology into reality. With a background in battery components, Lee
In recent years, there has been a noticeable shift in consumer preferences away from traditional diamonds to lab-grown counterparts, gold, and other colored gemstones. The iconic slogan “A diamond is forever,” popularized by De Beers in 1948, no longer holds the same sway it once did. The company’s largest shareholder, Anglo American, is planning to
In a shocking turn of events, GameStop champion Keith Gill, also known as “DeepF——Value” on Reddit and “Roaring Kitty” on other platforms, has seen his net worth skyrocket to over $289 million in just five years. Gill initially revealed a $53,000 bet in his favorite video game retailer and has since made a fortune by