The New York Stock Exchange began trading the shares of the first US index fund (ETF), which deals only with cryptocurrencies. ProShares shares with the ticker symbol BITO jumped 3% immediately after the opening, but then lost some of their momentum and by the middle of the trading session were 1.4% above the opening level.  The fund does not trade the cryptocurrency itself, but rather...

Worldwide car production could come to a halt as early as next year as China experiences significant supply disruptions of magnesium, a key ingredient in the creation of aluminium alloys used in cars. According to the Financial Times, the energy crisis in China has forced authorities in Shaanxi province to close 35 of 50 magnesium smelters about a month ago. The rest were told to halve production...

OPEC+ countries produced 15% less oil in September than planned, sources told Bloomberg. If oil prices do not fall, the union could face "increased political pressure". OPEC+ countries once again failed to meet oil production targets in September. This was reported by Bloomberg with reference to knowledgeable delegates from the member countries of the association.  In September, OPEC+...

South Korea's car exports fell 20.7 percent year-on-year in September, according to the country's Ministry of Industry, Trade and Energy South Korean manufacturers shipped abroad 151.7 thousand vehicles worth $3.6 billion in September, which is 6.1% less compared to the same period in 2020. The reduction is due to a shortage of semiconductors. Car production fell 33.1% in September and domestic...

The world may face a new financial crisis comparable to the 2008 collapse, the deputy governor of the Bank of England warned. The cause will be the uncontrolled growth of cryptocurrencies, whose market reached $2.3 trillion in just a few years. The world may face a new financial crisis comparable to the collapse of the global economy in 2007-2008, said Deputy Governor of the Bank of England, Jon...

The global community's plans to cut greenhouse gas emissions will not radically reduce demand for fossil fuels, according to the International Energy Agency's (IEA) global outlook to 2050. However, even the agency's most conservative scenario now foresees a drop in overall demand for gas, coal and oil beyond the 2030s for the first time. In the baseline scenario, however, fossil fuel demand will...

Bitcoin's prospects are rather dubious. And even more so: the largest by market value cryptocurrency likely has no future. That's what CNBC reports, citing a comment from Jamie Dimon, CEO of investment bank JPMorgan Chase. Dimon revealed that he personally holds the view that bitcoin is worthless. But his clients don't always follow his philosophy. "Our clients are adults. They don't agree....

The International Monetary Fund has lowered its forecast for global economic growth this year, citing supply problems in rich countries as well as health threats from the spread of the highly contagious delta strain of coronavirus. The IMF also raised its inflation forecast, urging regulators to be prepared to act quickly if the recovery is faster than expected or if inflation risks become more...

World coffee prices have already risen 55% this year due to a poor harvest in Brazil. They are expected to be even higher because Colombian farmers have decided to hold back supplies in order to sell their products at a higher price, Reuters reports. Colombia is the world's second-largest supplier of arabica. According to the agency, producers in that country have not delivered up to 1 million...