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London-listed stocks ended lower on Friday as the U.K.’s blue-chip FTSE 100 index erased its weekly gains on a record increase in COVID-19 cases in the United States that left investors questioning if the prospect of a quick economic recovery is still on the table. The commodity-heavy index opened at 6,240.36 on Friday and closed 1.3% lower at 6,144.82. Oil and gas companies, including Royal Dutch Shell and British Petroleum, contributed the most…

Daimler AG (ETR: DAI) said on Friday that it expects to see a multimillion-pound restructuring charge in the second quarter as it commits to streamlining its global production. As part of its effort, Daimler added, it will now seek potential buyers to offload its factory located in Hambach, France. Shares of Daimler closed about 2.5% down on Friday. At £33 per share, the German automaker is just under 30% down year to date in the stock market aft…

Delivery Hero (ETR: DHER) said on Friday that its orders grew by about 100% in the second quarter as the Coronavirus pandemic restricted people to their homes and fuelled a trend of ordering food online. The food delivery company operates in more than 40 countries in Asia, Europe, Latin America, and the Middle East. It also has more than 500,000 partners internationally and is headquartered in Berlin, Germany, where COVID-19 has so far infected a…

Intel Corporation (NASDAQ: INTC) announced on Friday that it will make a sizeable investment of about £203 million in an Indian digital services company, Jio Platforms. Intel has been on an investment spree this year and has pumped more than £100 million in 11 startups. Intel is the second U.S. tech giant to have invested Jio Platforms with Facebook having pledged £4.58 billion earlier this year in April.  Facebook investment in the Mumbai-b…

The GBP/USD pair is little changed as traders reflect on the upbeat services PMI numbers from the UK. The pair is trading at 1.2466, which is above this week’s low of 1.2256. UK services PMIs rise Companies in the services sector did more business in June as the government eased movement restrictions. According to Markit, the services PMI rose to 47.1 from the previous 29.0. That was in line with what analysts polled by Reuters were expecting. It…

The USD/SGD rose slightly as traders reacted to the upbeat services PMI and weaker retail sales numbers from Singapore. The pair is trading at 1.3950, which is slightly higher than this week’s low of 1.3805. Singapore services PMI improves The USD/SGD has been in a sharp decline since April as the world economy started to recover from the pandemic. The overall weaker US dollar and problems in Hong Kong have also contributed to the strengthening o…

The AUD/USD rose slightly as traders reacted to the latest services and retail sales numbers from Australia and China. The pair is trading at 0.6929, which is higher than this week’s low of 0.6835. It has gained in each day this week. Australia retail sales jump Australians shopped more in May as the country reopened following the coronavirus shutdowns. According to the Australian Bureau of Statistics, retail sales jumped by 16.9% in May after fa…

The USD/CAD pair is little changed today as traders react to the upbeat US nonfarm payrolls data, better Canadian trade numbers, and relatively higher crude oil prices. The pair is trading at 1.3587, which is a few pips above yesterday’s low of 1.3545. Canada’s trade deficit narrows The Canadian trade deficit narrowed from the previous $4.27 billion to just $0.68 billion in May. That is according to Statistics Canada. This happened as the volume…

Litecoin (LTC) has had a promising start in early 2020, however, following the mid-March price crash, the project’s price action was rather disappointing. It certainly doesn’t seem to match most other cryptocurrencies, which saw huge gains between mid-March and early June. LTC in 2020 As mentioned, Litecoin’s price in 2020 started relatively low, but it did not stay down for long. The coin sat just above its largest support at $…

KNC, a native cryptocurrency of a project known as Kyber Network, recently saw a massive rally that started on June 29th, and it pushed the coin’s price from $1.10 to $1.93. The surge was very sharp, and the token managed to gain more than 27% this Friday, July 3rd, alone. KNC price surges The surge, while very sudden and sharp, did not come as a huge surprise. After all, the project is just about to see a major protocol upgrade, which is s…

On July 3rd, a cryptocurrency project Ravencoin disclosed an exploit after initial reports were confirmed. The project revealed that there was an unsanctioned minting of around 1.5% of the project’s maximum RVN supply, capped at 21 billion RVN. The crypto firm is still conducting an investigation, so it did not specify any details. However, some things about the incidents are known, including the fact that around 315 million RVN tokens were…

VeChain (VET), currently 24th-largest cryptocurrency project with a market cap of $591 million, recently saw a major price rally. The coin’s price skyrocketed by 8.57% this Friday, July 3rs, finally allowing the coin to hit a new high on its YTD chart. VET sees major price surge The new rally allowed VET to breach a major resistance level at $0.01, which is the same level which it tried to surpass less than a month ago, on June 12th. At the…

The Bank of Japan (BoJ) is preparing to begin experimenting with a central bank digital currency (CBDC). The bank unveiled this news through a report on July 2, noting that these trials aim to check the CBDC’s feasibility and technical perspective. This announcement marks the first time that Japan has revealed that it will proceed with a proof-of-concept process with the digital yen. However, the bank did not disclose a timetable for this pilot p…

Chainlink (LINK) is once again showing that it will spare no expense when it comes to development. A recent report published by Flipside Crypto shows that the crypto project plans to spend around 1 million LINK coins per month for rewarding its node operators. Based on the current LINK price — $4.83 — this means that the project aims to spend $4.83 million on its ecosystem development. The amount is significantly greater than what Ethereum itself…

Recently,  the crypto industry’s largest and most popular stablecoin, Tether (USDT) announced a major transfer of its tokens. As many may already know, Tether has transferred its tokens to a number of different blockchains, including those of TRON and Ethereum. Now, the project announced that a major chunk of its coins will be transferred from TRON to Ethereum. Ethereum still the largest USDT issuer The move comes as a surprise for man…

Ripple has had great success as a payment processor, as the company offered its payment solutions to banks and financial institutions around the world. Many of them have since tested, or even fully implemented the startup’s technology, confirming that it brought lower transaction costs and faster payments around the world. In fact, Ripple has become a go-to firm for anyone who wishes to handle remittance through cryptocurrencies. However, d…

NEO, once called the Chinese Ethereum, has not been in the center of attention for quite a while. Even so, as far as its price is concerned, the coin has seen a decent performance this year. Unfortunately, the last month has nullified the token’s latest price surge, although NEO is still far from giving up. NEO in 2020 Neo (NEO) price certainly wasn’t wasting any time in 2020. The coin started surging as soon as the year started, and…

Ethereum Classic was on its way to recovery in months following the mid-March price crash, but over the course of the last month, the coin seems to have lost strength. It even broke one of its major support levels a few days ago — something it will have to work extra hard to recover from in the future. Ethereum Classic skyrockets in January Ethereum Classic (ETC) price saw an excellent performance from the very start of the year. In the first wee…

HSBC Holdings (LON: HSBA) said on Friday that it has decided in favour of shutting down its industrial metals business. The announcement, as per HSBC, is part of its long-term restructuring that is expected to save a total of £3.61 billion and see 35,000 workers laid off in the upcoming years to boost liquidity. Europe’s largest bank that has a workforce of roughly 235,000 people saw a 48% decline in pre-tax profit in the first quarter as COVID-1…