Africa

The vision of Satoshi Nakamoto for Bitcoin to promote financial inclusivity has more likely been met considering the boom of the crypto market in third world countries such as those in Africa. It is noteworthy that the daddy of all cryptocurrencies was created so that there would be a chance for outsiders to gain access to an informal financial system with a digital platform. No wonder it has opened investment opportunities on trading platforms such as the BitiQ website for the African people renowned for using cryptocurrencies.

A report has recently claimed that Africa has become the global leader in terms of cryptocurrency adoption. Despite attempts of the government to restrict operations by mandating banking institutions to cut ties with crypto exchanges, the market was able to survive with a shift into a platform that no longer needs local banks as intermediaries. And the crypto market has flourished since then, away from state regulations. It appears that the free market is working at the advantage of African investors. 

East Asia

While Africa is still in the phase of adopting cryptocurrencies, perhaps it would be fair to say that Asia has already been immersed in this market. A study conducted last year claimed that over 30% of crypto transactions took place in East Asia, which includes China, Japan and South Korea. The trend is expected to carry on as countries in other parts of Asia are being drawn into the market. It would buffer the impact of China now shutting its doors to foreign cryptocurrencies.

Moreover, Japan has been among the most progressive countries in Asia to embrace opportunities brought about by crypto trading. It has managed to strengthen laws to protect the local crypto market from cybercrimes in the likes of hacking and money laundering. There has also been a regulation of crypto exchanges through documentary requirements that would prove legitimacy. More likely, this will be an additional layer of protection taken as a preventive measure to deter cyber crypto heists. 

Latin America 

It can be recalled that the founder of this cryptocurrency originally intended the use of virtual money as a medium of exchange. Following the historic move of El Salvador declaring Bitcoin as an official legal tender in the country, there is so much expectation hanging over its shoulders. The government anticipates economic growth brought about by overseas remittances in the form of Bitcoin. Besides, it is a practical approach for a developing country with people devoid of access to the financial system.  

Paraguay is set to follow in the footsteps of its neighbour with the intention recently made known by one of its lawmakers. A bill has been submitted in Congress to legitimise the use of Bitcoin as an official legal tender. The legislation intends to bank on the financial opportunities drawn by the crypto market. Like El Salvador, the nation is poised to become the next crypto hub in the region. 

United States of America

America has been the ultimate hub of cryptocurrencies, with Bitcoin finding its roots in San Diego, California.  From paying for some Papa John’s pizza, there is no doubt that the father of all cryptocurrencies has come a long way. It is considered the market leader after gaining a huge number of followers still on board. The United States is now facing challenges on how to best regulate the crypto market to protect investors. As the SEC Chairperson has put it, he is neutral in terms of technology but not in terms of consumer protection. 

Consequently, the Chairman of the Federal Reserve has already expressed his intention to promote crypto regulations. He is advocating for the possibility of digital banknotes and stable coins to compete with cryptocurrencies. These virtual currencies would be backed by the government’s financial system to draw the interest of investors, given the relatively low risks. 

Conclusion

This is how the crypto market has taken the world one region after another all through the years from the United States, Latin America, East Asia, and Africa.

The clean energy car manufacturer’s stock market value has soared throughout 2020 and 2021 as investors bet on accelerating sales of electric cars in a global push towards increased sustainability amid the climate crisis. By 2030, the UK government plans to ban the production of petrol and diesel cars to meet national climate targets. 

On Monday, Tesla shares increased by as much as 9% to as high as $998 following the announcement of Hertz’s 100,000 vehicle order. The shares later returned to below this level. Nonetheless, it marks a major milestone for Elon Musk’s company. 

The milestone follows a record quarter for Tesla in which its Model 3 became Europe’s best selling car in September. This was the first time a battery electric vehicle topped the monthly sales chart in the continent.

Hertz has said that the vehicles would be delivered by the end of 2022 as part of its goal to build the largest EV rental fleet in the United States. It is understood that the purchase could cost as much as $4 billion, even with a bulk discount. 

The rise in Tesla’s share price has further boosted the fortunes of its founder and CEO. Even before Monday’s gains, Musk’s gains stood well above the $250 billion mark.  

On Thursday, SumUp said it was buying Fivestars for $317 million in a mix of stock and cash. Fivestars is an all-in-one payments and marketing platform that helps merchants up rewards schemes and promotions for customers. 

SumUp was founded back in 2012 and is best known for its small credit card readers, which enable small businesses to accept payments. SumUp also provides users with other payment tools, such as the ability for merchants to set up their own online stores. The company currently has over 3 million merchants signed up across Europe, the United States, and Latin America. 

As SumUp plans its expansion into the US, rivalry with big players such as Square and PayPal is bound to step up. However, SumUp says it believes there’s plenty of room for the companies to all co-exist. 

Since starting out, SumUp has raised a total of $1.4 billion in equity and debt financing and has been backed by Bain Capital. Goldman Sachs, and Singapore’s Temasek. 

Meanwhile, Fivestars has raised a total of $115 million before its deal with SumUp and has gained backing from investors such as Lightspeed Venture Partners and Menlo Ventures. 

In the third quarter of 2021, Just Eat processed 266 million orders, representing a 25% increase compared with the same period of 2020, helping the UK branch of the platform to reach the one billion orders milestone. 

The gross value of sales hit an impressive €6.8 billion, up 23% year-on-year with Just Eat’s UK orders experiencing the sharpest growth as it accounted for €1.6 billion of takings in only three months. 

In a statement, Jitse Groen, the chief executive of Just Eat, said: “with most of the world returning to pre-pandemic life, our growth in the third quarter of 2021 has remained strong. We look forward to updating the market on the exciting opportunities for long-term growth across our business during our Capital Markets Day on 21 October.”

Although the UK market has experienced impressive growth, the United States is still the company’s largest market and has contributed €6.1 billion in revenues this year to date.

There were 332,000 new initial claims for unemployment support in the week to 11 September, according to the US Labour Department. This figure is up from 312,000 in the previous seven days. Economists had been expecting 320,000 claims, accounting for a delay in filings following Hurricane Ida.

However, the four-week moving average was the lowest seen since the beginning of the covid-19 pandemic in March 2020. 335,750 claims were seen at this time. 

On the back of the news, US markets ticked lower while European stock markets continued to perform well. The S&P 500 dipped 0.6%, Dow Jones was down 0.5% and Nasdaq dropped by close to 0.7%.

Last month, US retail sales unexpectedly rose 0.7%, significantly ahead of the predicted 0.8% fall. This followed a 1.8% decline in July, implying that demand was more resilient than initially predicted, despite August’s hiring slowdown. 

The Commerce Department said that, with the exception of motor vehicle parts and petrol sales, underlying retail sales were 2% stronger throughout August. Home furnishing sales rose by 3.7%, while food and drink spending increased by 1.8% and general merchandise jumped by 3.5%. 

While many of these efforts have proven successful, with the UK economy now growing at the fastest rate in 80 years according to some estimates, efforts to restimulate the market have come as something of a double-edged sword for investors. 

Right now, inflationary pressures are becoming apparent on both sides of the pond, as the release of data in June showed that US consumer prices increased by 5% in the year up until May. At the beginning of August, inflation had overshot the Bank of England’s (BoE) forecasts for three successive months, and although it seems like some respite is on the horizon, ex-BoE chief economist Andy Haldane has voiced his doubts over the central bank’s actions to keep inflation in check. In the face of dovish thinking, Haldane was the only member of the monetary policy committee to vote in favour of tighter policy, in order to head off the threat to price stability. The BoE has suggested that UK inflation will top 4% by the end of the year, well above its original estimates. As such, some might wonder whether we are in for an era of much higher inflation, and potentially even a wage-price spiral. Whatever your position on monetary policy, traders and investors will naturally be concerned about how they should act in response to these developments. Here are some considerations to bear in mind.

Keeping an eye on inflation

First thing’s first, traders and investors should keep a close eye on central bank statements before taking any drastic action. For example, any dissenting views from key figures, or signals that the bank is set to raise interest rates and tighten monetary policy, can offer insight into the bigger picture, and the general outlook for inflation going forward. But beyond reading between the lines of these statements, there are some regularly reported measures of inflation that investors should be monitoring.

In the US, the Consumer Price Index (CPI), which reflects retail prices of goods and services, including housing costs, transportation, and healthcare, is the most widely followed indicator. That said, it is important to note that the Federal Reserve also emphasises the Personal Consumption Expenditures Price Index (PCE), which covers a wider range of expenditures. Meanwhile, in the UK, the official measure of inflation is its own Consumer Price Index (CPI), or the Harmonised Index of Consumer Prices (HCIP). 

Wherever you are in the world, central banks will have their own target rate of inflation. As such, traders and investors would do well to bear this in mind, given that protracted periods of high inflation pose a stealth threat to investment returns. Rising inflation in New Zealand, for example, has been enough for the Reserve Bank of New Zealand to project an interest rate hike this year and four hikes in 2022. This was when inflation spiked above the 1-3% target hitting 3.3% year on year. 

Investment options as a hedge against inflation

If investors do not protect their portfolios accordingly, inflation can be detrimental to fixed income returns, such as bonds. However, the effects of inflation can vary across sectors.For starters, the merits of gold, commodities and property must be carefully considered in an inflationary environment. While none of these assets are a perfect antidote to the inflation conundrum, they do offer a degree of portfolio protection.

In terms of commodities and precious metals, historically, the mantra that ‘gold is a hedge against inflation’ needs some careful consideration – if this were the case, then surely its price should hardly ever fall. Because gold gives no interest in holding it, investors tend to sell gold in order to buy riskier assets at the first sign of stronger global growth, and this is something to bear in mind. But so long as interest rates remain low, this is good for gold. 

By contrast, assets like growth stocks, including big tech and value stocks, might be less attractive. This is because higher inflation tends to impact the future profitability of these companies. As growth stocks have much of their earnings expectations in the future, this means that when rates rise, this damages these expectations.

On the contrary, inflation can actually be beneficial to some asset classes. As mild inflation is often a sign that the economy is growing, this means that businesses can raise prices, which in turn can stimulate job growth. For instance, a look at the S&P 500 returns historically and adjusting for inflation shows that an inflation rate of 2% or 3% is often a sweet spot, offering the highest real returns.

With this in mind, it is important to add that value stocks, which have a higher intrinsic value than their current trading price, will often outperform growth and income stocks. Value stocks frequently constitute mature and well-established companies with strong current free cash flows that may diminish over time, but this will largely depend on whether the investor in question is taking a long- or short-term view of the market. 

For those taking a short-term view of the market, some evidence suggests that higher inflation also tends to lead to increased stock market volatility – consequently, this creates fresh opportunities for either buying or short-selling stocks. Yet, it is vital to remember that the stock market is cyclical – while the bad times may hit investors hard, they will not last forever, and there is much to be gained from staying invested for the long haul.

Although central banks remain defiant that inflationary pressures are transitory, the bottom line is that inflation has arrived. Traders and investors will need to weigh their options carefully when determining their activities.

High Risk Investment Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. For more information, please refer to HYCM’s Risk Disclosure. 

About the author: Giles Coghlan is Chief Currency Analyst, HYCM – an online provider of forex and Contracts for Difference (CFDs) trading services for both retail and institutional traders. HYCM is regulated by the internationally recognized financial regulator FCA. HYCM is backed by the Henyep Capital Markets Group established in 1977 with investments in property, financial services, charity, and education. The Group via its relevant subsidiaries have representations in Hong Kong, United Kingdom, Dubai, and Cyprus. 

Consider Your Plans

What does retirement look like to you? Do you want to stay in the home that you currently live in and spend a lot of time with your grandchildren? Do you hope to move to a place that has a big population of retirees, like Florida or Arizona? Or maybe, like some American retirees, you hope to move to another country where the cost of living is lower. Maybe you want to go back to school, start that business you never had time for or go mountain climbing. 

The possibilities for retirees are greater than ever before, so don't fence yourself in with thinking about what you are supposed to do. If you don’t yet know exactly how you want retirement to look that is okay too, reading investment books can help you learn how to best save now regardless of how your retirement looks in the future. Knowing what kind of a lifestyle you want will help you with the rest of your planning. Revisit your plans every so often to see if you still envision the same kind of lifestyle or if you need to make some adjustments.

Know Your Assets

Understanding what you have, and its value is also important. For example, if you plan to sell your home and move, you should have a realistic idea of what your house is worth. You may have some assets that you do not realise are valuable. If you no longer need your life insurance policy because your children are adults, you can look into selling the policy for a life settlement. You can learn more about how to leverage those assets for you and review a policyholder's guide to modified endowment contracts.

Max Out Your Retirement Contributions

Whatever your age, you should be contributing as much as you can to a retirement fund and not buying into some common lies we tell ourselves about retirement and saving for it. This is particularly true if you have an employer-sponsored account that includes matching funds. If you are young, the money that you put away now has the potential to grow exponentially and provide you with a substantial amount of savings to retire on. If you are nearer retirement and worried about having enough saved, it might be possible for you to make larger catch-up contributions to your account.

Check Your Social Security

When you are figuring out how much you have for retirement, don't forget about Social Security. You can use a quick calculator at the federal government website to get an idea of what your payments will be. The Social Security Administration also periodically sends this information out to you.  Other things could affect your payment as well. For example, if you are divorced from someone you were married to for more than 10 years and they made substantially more than you, you might be able to draw on their benefits. This does not affect the benefits that your ex-spouse can receive.

Dima Kats, CEO of Clear Junction, explains what open banking is and why businesses should care.

Open banking breaks down traditional barriers in the financial sector that kept customer data locked up. For years, the only way businesses and consumers could view financial data like transaction histories was through paper statements or web forms. The lucky ones may have been able to access data in PDFs, or perhaps as downloadable files for specific desktop programs. For most customers though, that put restrictions on how they could use that data. Open banking changed everything. It puts businesses and consumers back in control of their data, allowing them to grant direct access to third-party companies via application programming interfaces (APIs) operated by their banks.

Open banking needs data

Data access is important for fintech companies that want to enhance their own services, such as fast loan approvals or budgeting applications. An online budgeting service could use customers' transaction data to show them summaries of where they spend their money, helping them to plan their finances more effectively. Fintech also includes elements of artificial intelligence (AI), typically in the form of machine learning. The combination of access to larger amounts of financial data and the power of AI will enable businesses and consumers to glean new insights from banking services.

Initial access to that data has been difficult in the US, but on 9 July 2021, the Biden administration took a big step to support open banking's quest for data by introducing an Executive Order on Promoting Competition in the American Economy. The Order contained a series of measures covering issues ranging from the right to repair through to non-compete clauses. Among them was a request for the Consumer Financial Protection Bureau (CFPB) to consider new rules that would mandate portability for financial data. This move didn't happen in a vacuum. The CFPB had already issued non-binding guidance on open banking in 2017, followed by an advanced notice of proposed rulemaking last October that would give open banking principles regulatory teeth. Nevertheless, the Executive Order brings even more momentum to this issue.

Embracing competition

Hard rules on data portability will have a significant impact on a US banking market that has seen an erosion of competition in the last few decades, with nine in ten banks closing since 1985. Gaining access to their data will give consumers and businesses more power to switch financial institutions. It will also spark a whole new wave of innovative competition. Smaller challenger banks in the US will be able to offer services using customers’ banking data.

Ushering in a new era of open banking in the US will also encourage cooperative relationships between incumbent and new financial players. Soon, consumers and businesses will be able to make their financial data available to fintech players who can use it to offer cutting-edge services at speed and scale, often in partnership with incumbent banks or with each other. Fintech companies will be able to use APIs to exchange data with banks directly so that they can complement each others' services and provide seamless user experiences.

The Executive Order was also a clear sign that this administration wants to keep laws and regulations in sync with new technological developments. This is encouraging, as it gives more certainty to new and rapidly evolving areas of the economy. Clear rules stipulating data sharing will encourage fintech companies to invest in more exciting services.

Spreading open banking through responsible regulation

This development in the US will hopefully also stimulate competition abroad, where open banking concepts are in various stages of development. In Europe, version 2 of the Payment Services Directive (PSD2) took effect in 2018, imposing similar data portability rules. The results have been impressive. In the UK, 2.5 million UK consumers and businesses now use open banking-enabled products to handle their finances, according to the UK government's Competition and Markets Authority.

With the call for open banking now coming from the highest levels of leadership in the US, it's time other countries around the world align themselves with similar regulations that will encourage competition and partnerships in the financial sector. This will boost the customer experience with new and innovative services. It takes joined-up thinking to create a new era of joined-up services.

The move by AMC marks a union of two highly speculative assets. AMC recently became a meme stock star favoured by traders on Reddit’s WallStreetBets forum, while bitcoin is rapidly becoming renowned for its volatility. In recent weeks, bitcoin’s price has swung dramatically, last trading around $46,000 following its fall below the $30,000 mark last month.

AMC’s adoption of bitcoin would allow customers to purchase movie tickets and concessions online using bitcoin for all AMC’s US cinemas. Aron has said that the cinema chain is simultaneously working on the code to begin accepting Apple Pay and Google Pay for online purchases. 

As AMC shares jumped 5.3% in after-hours trading, investors celebrated. Bitcoin was also up 5.5% on Monday night from the previous day. While many remain wary of cryptocurrencies, they are quickly becoming more mainstream. Several companies are now exploring how to incorporate them into their businesses, with AMC being one of the latest to do so.

Many people want to enter university and have better career prospects. These educational institutions can be perceived as a springboard to a new adult life with the opportunity to earn an increased salary. However, higher education in the USA, UK and other countries is incredibly expensive. You may be surprised when you find out just how much money you have to pay out for each semester or academic year. Here are some key factors that determine the overall price you pay. 

Academic Level Matters

It should be noted that the academic level is one of the key factors affecting the cost of education in any country. If you're interested in attaining a BA or BS degree, then you will have to pay about USD 25,000-35,000 (£18,000-25,000). The price will directly depend on the type of educational institution. Private universities will always be more expensive, and they are also often more difficult to be accepted into. If you need additional support as a student, then the cheapest essay services are a great option. Whether you need business essays or other papers, these services can help you achieve the grades you require. 

If  you are interested in masters and doctoral levels, then you should be aware that this will be more expensive than your undergraduate degree. Sometimes the price will differ even several times. Besides, MBA, JD, and MD are more expensive than Ph.D. degrees. You may often need to pay about 40 thousand dollars (£28,900) per year. 

The Cost Of Getting Degrees Varies Greatly

The cost of studying at the university also directly depends on what degree you want to attain. If you want to become a dentist, lawyer, engineer, or surgeon, then you will have to pay a lot more than if you choose a Nursing, Pedagogical, or Social Care degree. This is because some certain areas require deeper knowledge and more practical experience than others. For certain degrees, you will have a longer period of education than others.

The University Type Matters

The type of university that you attend is another aspect that directly affects the cost of your education. Generally, most public universities are more affordable than private alternatives. Typically, the price may vary by 5-20% per year. For many people, this will be a key criterion when choosing an educational institution. The difference can be up to 10 thousand dollars (£7200) per month in some cases.

The Price Of Prestige

If you want to become a student at Harvard, or Oxford, or Cambridge, then the cost of your education will be significantly higher. A little-known university in Oregon will be substantially more accessible to the average person than Harvard. This is not surprising since society and media culture have advertised such educational institutions in the news, books, and films. Of course, nobody denies the highest quality of the educational process and professionals who will help you get the required knowledge. But the price will be directly proportional to the prestige and fame of the university.

Accommodation Costs

When it comes to university accommodation, the cost will be drastically different in each country, region, and the city, although, typically, you won't find deals under $600 (£433) per month. In some cases, monthly rent can reach as much $3,500 (£2,531).

But what if you don't have that sum of money and want to find a compromise? How about living in a dorm on campus? If you are lucky, you will get a room with 1-2 roommates. Typically, you will have to pay 5,500-8,000 thousand dollars (£3,978-5,786) per year. This price is more acceptable, especially if you or your relatives are not ready for the additional financial burden. Conduct a preliminary analysis of the city in which you want to live and consider all the advantages and disadvantages of your chosen accommodation options.

Final Words

Do not forget that the final cost of your education directly depends on many factors. Start by choosing a price range that suits you. However, you should not forget that the annual fee for the educational process is only 70-80% of your expenses. Consider the need to rent an apartment or dorm room, and don't forget that you have to pay for bills, food, internet, cellular communications, and potentially public transport. Only a detailed calculation of the combination of all these factors will allow you to understand how much savings you should have to get the desired degree.

Two days after announcing a cybersecurity review of DiDi, China’s Cyberspace Administration ordered Chinese app stores to remove DiDi from the platforms entirely, claiming the company has severely violated regulations surrounding personal data. Regulators also requested that DiDi rectify all existing problems in line with national standards to protect personal data of DiDi’s many users.

On Friday, DiDi said it would fully cooperate with the government’s review. Aside from the suspension of new DiDi users, the company has insisted there will be no service interruptions for those already using the app. DiDi is not the only company to face tough crackdowns by Chinese regulators. Tencent, Alibaba, and JD.com are amongst others who have also been targeted. Action by the regulators aims to curb risk and prevent unfair labour practices.

The regulatory scrutiny surrounding DiDi follows its Wall Street debut, where the company raised $4.4 billion from investors in one of the biggest IPOs in recent memory. DiDi’s first day on the New York Stock Exchange drew to a close with a market capitalisation of approximately $75 billion, making the company’s president a new billionaire.

Morrisons is preparing for takeover negotiations following its rejection of a £5.5 billion ($7.6 billion) bid from Clayton Dubilier & Rice (CD&R) at the weekend. In a statement, Morrisons said that its board evaluated the private equity firm’s conditional proposal with the aid of its financial adviser, Rothschild & Co. However, Morrisons concluded that CD&R’s offer "significantly undervalued Morrisons and its future prospects" and thus rejected the offer on 17 June. Shares in the UK supermarket jumped over 30% as the news of the rejection broke.

CD&R, however, reportedly remains confident that a deal can be made. In a statement, the private equity firm confirmed the possibility of a cash bid. Under UK takeover rules, CD&R has until 17 July to announce a firm intention to make an offer.