Tech sector pulling the indices down |
Not so long ago, shares of some major technology companies were subject to serious pressure from investors. As a result, a massive drop in the US stock indices was recorded. Tech sell-off was the main reason for the overall decline. Large indices were decreasing for four consecutive sessions. Shares of technology and Internet companies were getting cheaper, as investors grew increasingly cautious after a long period of growth in this sector.
For example, Facebook lost 18 percent in just a few days. The value of Apple's securities fell after the analysts of Goldman Sachs lowered their assessments of the demand for iPhone for March and June quarters. Negative dynamics was recorded in seven out of eleven industry groups of Standard & Poor's 500. The most significant decline is observed in the financial, consumer, and technological sectors. In general, March was a difficult month for the US stock market. Since early March, Dow Jones has decreased by 4.7 percent, and the S&P - by 3.7 percent. However, most analysts claim that the current situation in the market is just a temporary phenomenon.
Investors believe that the recovery will continue, taking into account the high rate of economic growth around the world. "We're still pretty bullish on the economic front and earnings are solid enough to justify equity prices," said James Athey, Aberdeen Standard Investments.
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Top 9 books to help you navigate the world of technology |
Experts advise reading as much literature as possible, both classical and modern. Books can become a source of inspiration and inexhaustible wisdom. Celebrities such as Mark Zuckerberg and Bill Gates even open their own book clubs. Technologies today constantly accompany our life. We present nine books that will tell you about key trends, skills, tasks, and forecasts of the technological world.
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China’s industrial companies’ profits increase by 16.1% |
China’s industrial companies reported an increase in their profits in the January to February period. However, compared with December 2017, the pace of growth slowed.
Industrial profits rose by 16.1% to 968.9 billion yuan in the first two months of the year. In December, profits advanced by 10.8%, while in 2017 the growth came in at 21% year-on-year.
The construction boom that raised prices for building materials stands behind the fast pace of growth.
Higher growth compared with December was largely due to accelerated sales and ongoing efforts to reduce costs, offsetting lower prices.
Analyst at Shanghai-based ANZ David Qu predicts double-digit growth in profits for the rest of the year, despite the slowdown in prices.
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Altcoins: 6 rules for secure trade |
When it comes to investing in cryptocurrencies, bitcoin immediately comes to mind, which enjoys the largest capitalization now. However, along with bitcoin, there are many other promising cryptocurrencies, which can sometimes overtake the growth rate of the market leader. Having compiled a portfolio of altcoins, a trader can make good money. In our photo gallery, you can find six key rules for trading altcoins.
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Eurozone economic confidence declines for third consecutive month |
Eurozone economic confidence deteriorated for the third consecutive month in March, reversing from a 17-year high in December. According to a survey data from European Commission, the indicator is heading into a period of more moderate growth.
The economic confidence index fell to 112.6 in March from the revised reading of 114.2 in February, marking a six-month low.
Analysts had expected a score of 113.3 compared with the figure of 114.1 reported earlier.
The industrial sentiment index came in at 6.4 from 8.0 a month before. Similarly, the retail trade sentiment declined to 1.6 from 4.5 a month ago.
The services sentiment index fell to 16.3 from 17.6 in the previous month. The consumer confidence indicator held steady at 0.1 in March.
Meanwhile, the construction sentiment index rose to 5.2 from 4.3 in February.
At the same time, business sentiment index edged down to 1.34 in March from 1.48 in February.
Business activity in 19 eurozone countries grew at the slowest pace since January 2017 in March, preliminary estimate by IHS Markit showed.
The IHS Markit eurozone composite PMI declined to 55.3 in March from 57.1 in the previous month. Euro area services PMI fell to 55 from 56.2, hitting a five-month low.
The manufacturing PMI came in at 56.6, down from 58.6 in the previous month. That was the lowest score over the past eight months.
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Threats to cryptocurrencies in 2018 |
One of the leading international companies Group-IB which investigates cybercrime and specializes in the cyberattacks prevention has compiled a rating of the main threats to ICO nitial Coin Offering). Here is the main theses of the study
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Bitcoin used to be cool and popular, yet now is losing its grip |
Bitcoin has remained unable to get out of the pit for a few months. Having fallen from an unimaginable height, as it seems now, - almost 21 thousand dollars - to 7 thousand dollars, the first digital currency has not shown any record growth by now. Along with bitcoin, other virtual currencies are also falling. Another attack on the cryptocurrency market was the announcement of the management of Google. The world's largest search engine intends to completely prohibit advertising of any cryptocurrency, as well as ICO. By its decision, Google supported another industry giant, Facebook.
As we all remember, that the world's leading social network has imposed a similar ban earlier. Twitter is going to be the next which steps upon an advertising warpath, and according to rumors, is also preparing for a ban. Not only the creators of cryptocurrencies and initiators of ICO, but also exchangers offering operations with virtual money will be included into the black list of advertisers. Along with bitcoin, the rates of other cryptocurrencies are dipping. Thus, ethereum dropped to $500, having lost 10 percent since March 17. Ripple has dropped in price by 11 percent to 60 cents for a day.
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Four cryptocurrencies to invest in 2018 |
Сryptocurrency market participants have a hard time; they are confused by the staggering choice of digital means of payment. Experts tried to help potential investors by suggesting to consider four cryptocurrencies
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The slogan 'Make love not war' has become a prominent anti-war phrase. EU officials have modified it to sound: “Make trade not war”, appealing to Donald Trump’s protectionist measures.
The US president has declared a trade war against the whole world. The European Union and China are dismayed.
“When the president complains of too many tariffs between the EU and the US I can understand him. We are not happy either,” European Council President Donald Tusk told a news conference in Helsinki. “That is the reason why a few years ago we started trade negotiations with the US. We should go back to these talks now. Make trade not war, Mr President,” Tusk said.
Steel and aluminum producers have become first victims of the trade war. Trump’s stiff metal import tariffs will come into effect this week. The EU and Japan sought exemptions from the tariff increase. But they appeared to win no concessions.
According to Trump, the dumping of steel and aluminum in the US market is “an assault on our country”. So the best outcome for companies would be to move their production to the United States.
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Fine art was the most profitable investment in 2017 |
Last year, works of art went up in price more than any other luxury item, according to the Knight Frank Luxury Investment Index (KFLII). The average price for art masterpieces has grown by 21 percent. The consultancy noted that this asset had lagged behind classic vehicles and wine over the previous several years. But 2017 was marked by the return of fine art on the first place.
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Trump bans Venezuelan cryptocurrency |
The US President thinks that not all cryptocurrencies are equally useful. Donald Trump argued against Venezuela’s digital money El Petro. Early this year Washington warned all investors who planned to put their money in the Venezuelan cryptocurrency about risks of facing persecution because of the sanctions imposed against Karakas. Eventually, the warning turned into real actions. Trump’s negative attitude towards El Petro was emphasized by a ban on financial operations with this cryptocurrency. The White House Administration introduced amendments to the new package of sanctions against Venezuela, and one of the points of this package described the use of this digital money.
Remarkably, El Petro is a pioneer in many aspects. Thus, it is the first cryptocurrency issued by a government. Besides, it is the first state cryptocurrency that was put under sanctions. Some experts think that such measures are a signal for other countries that are under US sanctions including Russia to refrain from issuing their own cryptocurrencies. By the way, the Venezuelan El Petro was developed in association with the Russian Zeus.
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7 Simple Rules of the Model Budget |
As you know, planning your own budget can be the key if not to financial prosperity then, at least, to well-being in general. The tactic of rational spending of own funds has deep roots.You can read in our material what rules should be observed in the proper formation of own expenses.
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Austrian OMV to buy more assets in Russia |
Europe’s oil and gas company OMV considers acquiring assets in Russia, the company’s Deputy Chairman Johann Pleninger said.
Last year, OMV bought a share in the Yuzhno-Russkoye field, having entered into the project of development of the Urengoy field’s fourth and fifth sites. The company plans to produce about 100,000 barrels of oil equivalent per day from the Yuzhno-Russkoye field. Currently, its production costs in the region are below $2 per barrel of oil equivalent.
According to OMV's plans, by the end of this year the company expects to complete the exchange of assets with Gazprom. Thus, OMV will enter the development project of the Urengoy field. The production is scheduled to start in 2020. According to Johan Plaininger, at least 80,000 barrels of oil equivalent are planned to be pumped at the Urengoy field in 2025. In the future, the company is considering the possibility of acquiring additional assets in Russia. At the moment, OMV’s attention is focused on oil fields in the Middle East, Iran and Iraq particularly.
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Dinner is served: best gourmet cities |
With the growing popularity of gastronomic tourism, many travelers visit this or that country not only to see the sights or to learn the language but also to try the most interesting local cuisine.
In our photo gallery you will find out in which megacities you can taste the most delicious and original national dishes
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Japan seeks to tighten global crypto regulation |
Japanese officials will push for adoption of global rules to govern digital currencies. The country’s government believes this would reduce the risk of money laundering using cryptocurrencies.
During the G20 summit next week, Japanese representatives will urge G20 members to come up with common ways to regulate the cryptocurrency market.
The new push is aimed at implementing common international guidelines, taking into account a differentiated approach to regulate the industry in each country. Japan’s government believes that would prevent money laundering.
Meanwhile, most representatives of the G20 consider it wrong to apply too stringent rules in relation to virtual currencies. According to Japan’s officials, it is not necessary to interfere in the development of the crypto sphere, but scammers should have no chance to take advantage of the insufficient regulation of the industry.
Experts believe the major governments’ control over the cryptocurrency market can significantly affect the value of most digital currencies. In early January this year, the total crypto market capitalization more than halved to $279 billion by February. In many ways, this was facilitated by stricter regulations for South Korea's cryptocurrency trading industry.
Global economic leaders will meet in Argentina on 19-20 March, 2018. Finance ministers and central banks governors from 20 countries will discuss crucial issues, including the cryptocurrency market regulation.
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Five key facts about cryptocurrencies from the point of view of the SEC |
The US Securities and Exchange Commission (SEC) has its point of view on the cryptocurrency sphere drawing attention of most leading world financiers. The details are in our article
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Asia seen favoring US shale oil According to Bloomberg, the OPEC and non-OPEC oil output cut is under threat as US oil shale producers are boosting their share in the global oil market. The situation looks alarming for the cartel's position in Asia, experts believe.
American light crude shipments to Asia will total about 1.3 million barrels a day in the next five years. In 2016, exports to Asia were almost absent. This will let Asian refineries fill up 40% of additional demand with US shale, said Sushant Gupta, a research director at Wood Mackenzie.
“US tight oil provides an alternative source to help diversify Asia’s crude slate, and complements the declining domestic crude production in Asia,” Gupta said.
According to Wood Mackenzie’s estimates, US crude exports will increase to 4 million barrels per day by the mid-2020s, exceeding shipments from Iraq and Canada.
The United States will supply much of the world's growing demand for oil over the next five years, the International Energy Agency (IEA) forecasts. The country will account for 80% of global demand growth, according to the IEA’s latest report. The US shale oil output will account for over 50% of production growth, rising by 6.4 million barrels a day.
The US crude oil production will grow by 2.7 million bpd to 12.1 million bpd by 2023. Increase in the production of shale oil, according to experts, can more than offset the reduction in supplies of conventional oil.
Non-OPEC oil output will rise by 5.2 million bpd to 63.3 million bpd, the IEA predicts. In the future, the US influence on the global oil market will strengthen. The US oil exports will more than double to 4.9 million bpd by 2023, the IEA said.
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Asia seen favoring US shale oil According to Bloomberg, the OPEC and non-OPEC oil output cut is under threat as US oil shale producers are boosting their share in the global oil market. The situation looks alarming for the cartel's position in Asia, experts believe.
American light crude shipments to Asia will total about 1.3 million barrels a day in the next five years. In 2016, exports to Asia were almost absent. This will let Asian refineries fill up 40% of additional demand with US shale, said Sushant Gupta, a research director at Wood Mackenzie.
“US tight oil provides an alternative source to help diversify Asia’s crude slate, and complements the declining domestic crude production in Asia,” Gupta said.
According to Wood Mackenzie’s estimates, US crude exports will increase to 4 million barrels per day by the mid-2020s, exceeding shipments from Iraq and Canada.
The United States will supply much of the world's growing demand for oil over the next five years, the International Energy Agency (IEA) forecasts. The country will account for 80% of global demand growth, according to the IEA’s latest report. The US shale oil output will account for over 50% of production growth, rising by 6.4 million barrels a day.
The US crude oil production will grow by 2.7 million bpd to 12.1 million bpd by 2023. Increase in the production of shale oil, according to experts, can more than offset the reduction in supplies of conventional oil.
Non-OPEC oil output will rise by 5.2 million bpd to 63.3 million bpd, the IEA predicts. In the future, the US influence on the global oil market will strengthen. The US oil exports will more than double to 4.9 million bpd by 2023, the IEA said.
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Six romantic empty places of the world |
In the world there are abandoned romantic places which introverts would like.
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Five tips for investing in profitable cryptocurrencies – experts |
Experts advise all those wishing to earn impressive amounts in the market of digital currencies to pay attention to a number of important tips. It is possible that they will help beginners of the cryptocurrency market in this difficult matter. The details are in our article
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