‘Green ETH’ narrative to drive investment and adoption, experts say By Cointelegraph

‘Green ETH’ narrative to drive investment and adoption, experts say Mining Ethereum is energy intensive proof of work (PoW) the system is expected to see Ether (ETH) are “flowing into the institutional world”, according to numerous fund managers and co-founders. On Thursday, officially switched to proof-of-stake (PoS) consensus mechanism, which is expected to reduce the energy consumption used by the network by 99.95%, according to the Ethereum Foundation. Continue reading at Coin Telegraph Source link

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Adobe to buy design company Figma for $20bn

Adobe has agreed to buy design software company Figma for roughly $20bn, sending a jolt through a sector that has been among the hardest hit in the tech sell-off that began late last year. San Francisco-based Figma, which was founded in 2012, allows software developers and designers to collaborate remotely and design everything from slides for presentations to user interfaces on mobile apps. Along with Australian start-up Canva, it is part of a wave of new browser-based design tools that have opened up the creative process to millions of non-designers, expanding the market and presenting a potential threat to Adobe,

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‘Rocket Launch’ — Observers on Ethereum’s Future After the Merger By Cointelegraph

‘Rocket Launch’ — Observers on the future of Ethereum after the merger The merger is expected to happen later today, and the transition to energy efficiency is expected to have a major impact on cryptocurrency investment and adoption, experts say. In a conversation with Cointelegraph in lead to mergerStarkWare president and co-founder Eli Ben-Sasson noted that the Ethereum merger will be “the first step in a process that will lead to extremely broad adoption of Ethereum”. Continue reading at Coin Telegraph Source link

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Wall Street suffers worst selloff since June 2020 after inflation data

Wall Street suffered its worst sell-off since the early days of the pandemic after official data showed US inflation rose unexpectedly in August, sparking fears the Federal Reserve will need to act more aggressively to combat rising prices. The benchmark S&P 500 lost 4.3 percent, its worst day since June 2020 with 99 percent of companies falling in value. The Nasdaq Composite fell 5.2 percent as technology groups seen as most exposed to higher rates bore the brunt of the selling. The yield on short-term government debt that tracks interest rate expectations hit the highest level in nearly 15 years,

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Indonesia to review minimum wage rules after fuel hike protests Reuters

© Reuters. FILE PHOTO: University students protest against the government’s recent decision to increase fuel prices, near the palace in Bogor, Indonesia September 7, 2022. REUTERS/Ajeng Dinar Ulfiana/File Photo JAKARTA (Reuters) – Indonesia will review the minimum wage and other labor rules, the president’s office said on Tuesday, after unions staged nationwide protests against recent gasoline price hikes they say came even as incomes stagnate. President Joko Widodo raised subsidized fuel prices in Southeast Asia’s biggest economy by 30% earlier this month to curb a growing energy subsidy budget, sparking protests by workers and students across the country. Rising fuel

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Swedish election result too close to call

A nationalist party denounced as “neo-fascists” by Sweden’s centre-left government has become the country’s second-largest, pushing the opposition right into a slim lead in parliamentary elections that remain too close to call. A preliminary result is not expected until Wednesday, but with 94 percent of the votes counted, the right-wing bloc had a lead of less than one percentage point over the center-left ruling group led by Prime Minister Magdalena Andersson. The anti-immigration Sweden Democrats, who have shunned them for most of the past decade, are surely the biggest party on the right, behind only Andersson’s Social Democrats, who have

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What you need to know now Reuters

© Reuters. Ukrainian soldiers drive near Bakhmut, as the Russian offensive on Ukraine continues, in Donetsk region, eastern Ukraine, September 7, 2022. REUTERS/Ammar Awad (Reuters) – Moscow has abandoned its main bastion in northeastern Ukraine, the sudden apparent collapse of one of the main battle lines after Ukrainian forces moved to encircle the area in a shock advance. FIGHTING * A Ukrainian counteroffensive this month has liberated about 2,000 square kilometers (700 square miles) of territory, President Volodymyr Zelensky said. * The chief administrator of parts of Ukraine’s Russian-imposed Kharkiv region has recommended that all its residents evacuate to Russia

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Johann Rupert, the luxury boss who saw off the hedge fund in a fighting mood

The atmosphere at Richemont’s annual meeting in Geneva on Wednesday was tense as billionaire Johann Rupert presided over a key shareholder vote. Activist hedge fund Bluebell accused him of acting as a “padre-padrone”, a godfather-like figure, and tabled resolutions to shake up power at the Swiss luxury group. “I hope this meeting does not turn into a football match,” said the 72-year-old Richemont chair after a heated exchange with a Bluebell representative. It was an astute observation that lightened the mood and offered insight into the character of the South African tycoon, described by one friend as “resourceful and fat…

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CreditSights finds errors in Reuters report on India’s Adani Group debt

© Reuters. FILE PHOTO: FILE PHOTO: The Adani Group logo is seen on the facade of one of its buildings on the outskirts of Ahmedabad, India, April 13, 2021. REUTERS/Amit Dave/File Photo/File Photo (This Sept. 7 story corrects Fitch Group, not Fitch, in the first paragraph) Author: Krishna N. Das NEW DELHI (Reuters) – CreditSights, part of Fitch Group, said it had discovered calculation errors in its recent report on the debt of two power and transmission companies controlled by India’s richest man, Gautam Adani, after discussions with management. A report by debt research firm CreditSights late last month calling

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Cineworld laments failure to become meme stock in unusual bankruptcy filing

Cineworld, the world’s second-largest movie theater chain, bemoaned the fact that it never managed to achieve meme status for its rival AMC’s shares, as it filed for bankruptcy protection in the US after retiring its debts. The UK-based owner of chains including Regal Cinemas said in a filing on Wednesday that it is seeking to reduce debt and strengthen its balance sheet through a restructuring of its UK, US and Jersey operations that is set to all but wipe out shareholders. The company said it was financially devastated by the closure of cinemas during the pandemic, as well as a

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