The soaring cryptocurrency Bitcoin is trading at $1,147 early Thursday, within $20 of the all-time high of $1,165.89, according to CoinDesk. The record high was set on Nov. 30, 2013. In addition to approaching a record high, Bitcoin is nearing parity with gold, which is trading at $1,178. Bitcoin's price rose steadily in 2016, appreciating about
By JOSH FRIEDMAN Following intense criticism by U.S. President-elect Donald Trump, Ford Motor Company opted to scrap its plans to build a $1.6 billion manufacturing plant in Mexico. Ford says it will instead invest $700 million in Michigan and create 700 U.S. jobs, CNN Money reports. Trump has promised tax cuts and regulatory reductions, while
The price of gold rose .9 percent Tuesday, finishing the day at a three-week high of $1,162 an ounce, the Wall Street Journal reports. In 2016, gold climbed 8 percent despite a sharp selloff over the final three months of the year. A relatively strong dollar did not stop gold from rising last year either.
The popular cryptocurrency bitcoin began 2017 by climbing above the $1,000 level for the first time in three years. Bitcoin is currently trading around $1,020. Bitcoin's price rose steadily in 2016, appreciating about 137 percent over the last 12 months, CNBC reports. Bitcoin outperformed all central-bank issued currencies last year, according to the BBC. Cryptocurrency
UPDATE: Oil finished the day down more than 2 percent. Brent slid to $55.47, falling from the 18-month high it hit early in the day, Reuters reports. ORIGINAL: On the first trading day of 2017, oil prices hit 18-month highs, Reuters reports. Benchmark Brent crude rose by more than 2 percent to a high of $58.37,
The Dow Jones Industrial Average (+13.4%), Russia's RTS (+27%, or 52% in dollar terms), Argentina's Merval index (+45%), Brazil's Bovespa index (+39%), the Canadian TSX Composite index (+17.5%) Norway's All-Share index (+18%), Indonesia's stock market (+15%) and London's benchmark FTSE 100 (+14.4%) were the best performing stock markets of 2016, according to CNN Money. Following the "Trump bump,"
Fed Chair Janet Yellen announcing the rate hike The Federal Reserve increased its federal funds rate last week by a quarter point, boosting it to the target range of .5-.75. The federal funds rate is the United States' most significant interest rate. When the federal funds rate increases, borrowing money becomes more expensive.
Josh Friedman reports from Dresden, Germany, the site of the 2016 Bilderberg conference. Who is in attendance? What is going on? Longtime Bilderberg correspondents Dan Dicks and Luke Rudkowski add their input: So does Charlie Skelton, who has been covering Bilderberg for The Guardian since 2009:
Josh Friedman kicks off a trip around Germany in Frankfurt, the city of the euro. As the refugee crisis has taken center stage in Europe, many people have forgotten that all is not well with the currency that is supposed to be ensuring stability across the continent.
Greek banks are preparing a contingency plan in which they would confiscate at least 30 percent of deposits above €8,000, Financial Times reports. The process of distressed banks raiding deposits is called a "bail-in." In 2013, a bail-in took place in Cyprus, during which funds were seized from uninsured deposits of more than €100,000. If a