Author: Anthony M. Orbison

(Reuters) – The U.S. is investigating several companies, including German software developer SAP SE (ETR:) and Carahsoft Technology, for potentially conspiring to overcharge government agencies over the course of a decade, Bloomberg News reported late on Tuesday. The U.S. Department of Justice (DOJ) lawyers have been investigating since at least 2022 whether SAP illegally conspired with the IT solutions provider to fix prices on sales to the U.S. military and other government entities, the report said, citing federal court records filed in Baltimore. SAP, Carahsoft, and the DOJ did not immediately respond to requests for comment outside regular business hours.…

The closure of a Bitcoin mining facility in the Norwegian town of Hadsel has led to a 20% increase in electricity bills for residents. The mine was shut down after the municipality declined to renew its permit due to noise complaints.Kryptovault operated the mining facility for 20% of local power company Noranett’s revenue. With the loss of its largest customer, Noranett is raising prices for households to compensate.Locals had complained for years about noise from the mine’s cooling fans. However, due to the closure, residents are now faced with paying several hundred dollars more per year for electricity.”When such a…

Global Economic Growth Forecast: How Will it Affect Forex Markets? The global economy has been experiencing a period of uncertainty and volatility in recent years, with many countries facing challenges such as trade tensions, political instability, and slowing economic growth. As a result, investors and traders are closely watching the latest economic growth forecasts to gauge the potential impact on the forex markets. The Latest Forecasts According to the International Monetary Fund (IMF), the global economy is expected to grow at a rate of 3.3% in 2023, down from 3.6% in 2022. This forecast is slightly lower than previous estimates,…

Warren Buffett’s Berkshire Hathaway Inc. sold an additional $863 million of Bank of America Corp. stock, trimming the conglomerate’s stake closer to a 10% regulatory threshold. Berkshire now owns 10.5% of the second-largest US bank after the latest disposals on the three trading days through Tuesday, according to a regulatory filing. As long as it remains above the threshold, the company must disclose trades within a few days. Buffett, 94, began trimming the massive investment in mid-July. Even after months of sales, Berkshire’s remaining stake in Bank of America is worth $32.1 billion, based on Tuesday’s closing price, preserving its…

Although milk alternatives have increased in popularity over the years, dairy continues to be a popular food group and a very profitable industry worldwide. Milk production is projected to grow at an average rate of 1.7% by 2030, which is faster than most agricultural consumption products. Related: Retail sales grow, but one issue poses major economic threatThis high demand for dairy products is what continues to fuel multiple companies across the globe.According to the Global Dairy Top 20 rankings for 2023, Danone is the fourth most prominent leader in the dairy industry, with a market capitalization of $49.53 billion. The French dairy giant Danone  (GPDNF)…

In the wake of Mi Primer Bitcoin’s three-year anniversary, the El Salvador-based organization announced that it has promoted two of its staff members — Reyna Chicas and Quentin Ehrenmann — to leadership positions.Chicas, a native Salvadoran who has been with the organization for approximately two years, has quickly ascended through its ranks from teacher to Lead Teacher to a member of the Board of Directors to now the Director of Education. She has shined since the beginning of her time with Mi Primer Bitcoin (MPB), when the organization sent her to Bitcoin Lake in Guatemala for six months to teach…

Managing Your Trading Account: A Guide to Success Managing a trading account is a crucial aspect of successful trading. It requires discipline, patience, and a thorough understanding of your financial resources. A well-managed trading account can help you achieve your financial goals, while a poorly managed one can lead to financial disaster. In this article, we will provide a comprehensive guide on how to manage your trading account effectively. Set Clear Goals and Objectives Before opening a trading account, define your trading goals and objectives. What do you want to achieve? Are you looking to make a full-time income or…

By Kevin BucklandTOKYO (Reuters) – Chinese stocks surged on Wednesday, lifting regional markets and helping extend a stimulus-fueled global rally that also underpinned risk-sensitive currencies, while Brent crude hovered near a three-week high.The dollar drooped after weak U.S. macroeconomic data overnight boosted the case for a second super-sized interest rate cut at the Federal Reserve’s next meeting. Gold rose to a fresh all-time peak.Mainland Chinese blue chips advanced 3.1% as of 0230 GMT, following a 4.3% jump in the prior session. Hong Kong’s Hang Seng climbed 2.2%, adding to Tuesday’s 4.1% surge.The strong start for Chinese stocks invigorated other regional…

By Rajesh Kumar Singh (Reuters) -Activist investor Elliott Investment Management on Tuesday escalated its boardroom battle with Southwest Airlines (NYSE:), saying it plans to request a special shareholder meeting as soon as next week to overhaul the airline’s leadership. The U.S. carrier, however, once again ruled out any leadership change, saying CEO Bob Jordan was the “right leader” to successfully execute its strategy to improve financial performance and drive shareholder value. The hedge fund has launched a campaign to oust Jordan and other top executives, blaming them for the company’s underperformance. It wants Southwest to change the way it runs…

The debt based monetary system has become quite extreme. On one hand, the US crossed the $35 trillion national debt milestone, placing a $104k burden on every US citizen. On the other hand, the Congressional Budget Office (CBO) puts federal expenditures for 2024 at 24.2% of GDP.This divergence between profligate spending and debt ballooning puts the economy on a narrow path. It is exceedingly unlikely that USG would opt to reduce spending, most of which goes to social programs, entitlements and the military. The latter alone is the key ingredient that backs USD as world currency.Conversely, this entails another Fed…