Author: News Room

Bitcoin price is consolidating gains above the $69,000 support zone. BTC must clear the $71,500 resistance zone to start a steady increase. Bitcoin price is still showing positive signs and facing resistance near $71,500. The price is trading above $69,000 and the 100 hourly Simple moving average. There is a major bullish trend line forming with support at $69,120 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $71,500 resistance zone. Bitcoin Price Holds Support Bitcoin price remained in a positive zone above the $68,800 resistance zone.…

Treasury Secretary Janet Yellen on Wednesday warned that China is treating the global economy as a dumping ground for its cheaper clean energy products, depressing market prices and squeezing green manufacturing in the U.S.”I am concerned about global spillovers from the excess capacity that we are seeing in China,” Yellen said during a speech at a Georgia solar company called Suniva. “China’s overcapacity distorts global prices and production patterns and hurts American firms and workers, as well as firms and workers around the world.”China has a surplus of solar power, electric vehicles and lithium-ion batteries that it can ship out…

Sometimes when a president needs a hand, only another president – or another two – will do. President Joe Biden’s bid for a second term and reelection campaign coffers will get a hefty boost on Thursday when he’s joined in New York by his two immediate predecessors as Democratic presidents, Barack Obama and Bill Clinton. The lucrative fundraiser in New York will send a message of commitment from the 42nd and 44th presidents for the 46th’s bid to prevent the 45th president, Donald Trump, from returning as the 47th. Obama, especially, has become increasingly involved in Biden’s reelection campaign in…

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Faster than a speeding bullet, more powerful than a locomotive, able to leap out of a market slump in a single bound! Superman, whose first appearance in 1938 kickstarted the comic book business in the United States, is flying to the rescue of a comics and collectibles industry mired in a post-COVID funk. One of the best known copies of the Man of Steel’s inaugural adventures is setting new records in an ongoing Heritage Auction and prying open the wallets of deep-pocketed collectors for items across the entire catalog. Action Comics #1, featuring the first appearance of Superman, has long…

Supply chains are the backbone of global trade, but they’ve been largely taken for granted — until recently. Over the past few years, supply chain woes have repeatedly come into the spotlight.The vital link came under the spotlight when President Donald Trump launched a trade war against China in 2018, prompting investors to reassess their reliance on the factory of the world.Since then, global integrated supply chain systems just seem to keep getting disrupted — be it by the COVID-19 pandemic or Russia’s war in Ukraine.On March 26, the Dali — a 984-foot-long cargo ship — collided with the Francis…

LinkedIn is experimenting with presenting video posts in a short-form, infinite-scrolling format.The company confirmed the trial to TechCrunch on Wednesday.These videos appear to be taken from existing posts on LinkedIn. LinkedIn is testing a new short-form video feature in the same vein as YouTube Shorts and TikTok, making it one of the latest platforms to invest in infinite scrolling.The Microsoft-owned company confirmed the experiment to TechCrunch on Wednesday, as the outlet reported spotting a LinkedIn user who posted about the videos.”I told y’all once LinkedIn as a product catches up to the other platforms it’s over,” marketing professional Austin Hull…

By Liangping Gao and Kevin Yao BOAO, China (Reuters) -China aims to be strong driving force for the world economic recovery this year, opening its markets wider to foreign investors and promoting high quality growth, the country’s top legislator Zhao Leji said on Thursday. China will make tech innovation a new point of economic growth and is willing to collaborate with other countries on it, Zhao, the chairman of the Standing Committee of the National People’s Congress, said at the opening plenary of the annual gathering of the Boao Forum for Asia. China’s import and export of goods is expected…

By Alessandro Parodi and Alexander Marrow (Reuters) – The corporate exodus from Russia since its 2022 invasion of Ukraine has cost foreign companies more than $107 billion in writedowns and lost revenue, a Reuters analysis of company filings and statements showed. The volume of losses have increased by one third since the last tally in August last year, underscoring the scale of the financial hit to the corporate world from Moscow’s invasion, as well as highlighting the sudden loss of Western expertise from Russia’s economy. “As Russia’s invasion continues amid faltering Western military aid, and the granularity of Western sanctions…

Gold price lacks any firm intraday direction and oscillates in a narrow trading range.  The overnight hawkish remarks by Fed’s Waller act as a headwind for the XAU/USD. The downside seems limited as traders await more cues about the Fed’s rate-cut path. Gold price (XAU/USD) struggles to capitalize on its weekly gains registered over the past three days and oscillates in a narrow trading band below the $2,200 mark during the Asian session on Thursday. Traders now seem reluctant and opt to wait for more cues about the Federal Reserve’s (Fed) policy path before placing fresh directional bets, which, in…