Author: Sam Allcock

In a groundbreaking shift, Nigeria has announced it will cease using the US dollar for its oil transactions.This bold decision coincides with the upcoming BRICS Summit and reflects a significant change in Nigeria’s trade strategy, transitioning to local and alternative currencies.Nigeria Embraces Local Currencies Over US DollarIn a significant pivot from traditional trade practices, Nigeria has resolved to abandon the US dollar when conducting oil transactions. This strategic initiative aims to stabilise the nation’s economy by relying on domestic and alternative currencies. This decision is aligned with the BRICS bloc’s broader efforts to reduce dependency on the US dollar amidst…

Buying cryptocurrency through Sberbank opens new financial avenues. Understanding the process is crucial for success.This guide outlines essential steps for a seamless transaction experience with Sberbank, helping you navigate the crypto world confidently.Understanding Cryptocurrency FundamentalsCryptocurrency represents a form of digital currency, operating on decentralized networks known as blockchains. These currencies are autonomous, not governed by any central authority, thereby promising users a new realm of financial freedom.Bitcoin, launched in 2009, pioneered this digital revolution, opening the path for diverse cryptocurrencies, each with unique properties and applications. Understanding these fundamentals is vital for anyone keen to venture into the crypto world.The…

Weird Fish reports a significant rise in profits for 2023 despite a dip in revenue, signalling strategic growth.The clothing brand saw an 80% increase in EBITA, reaching £2.6 million, and a 14% rise in gross profit to £21.3 million.Revenue slightly decreased by 4% to £38 million, focusing on profitability with improved sell-through rates.Investments in marketing, both online and in-store, have led to higher average basket values.The brand plans to open five new stores in 2024 and aims for further expansion with enhanced product ranges.Weird Fish, a well-known UK lifestyle brand, revealed that despite a slight decrease in revenue, it experienced…

VeChain’s current trading around $0.023 has drawn attention. With an increase of over 2% in recent trading and a monthly rise close to 15%, the cryptocurrency shows promise.Investors are keenly observing whether this upward momentum will continue. This prediction explores the potential highs and lows VeChain might experience in mid-October 2024.VeChain (VET) has shown a positive trend, trading around $0.023. The cryptocurrency’s price has climbed by approximately 15% over the past month. This steady ascent has sparked interest among investors considering entry into the market.However, amidst this rise, caution is advised. Investors are weighing the risks of entering a market…

The dominance of the US dollar is being challenged as ASEAN countries follow in the footsteps of BRICS by reducing their reliance on the currency. This strategic move is aimed at bolstering their local economies and enhancing trade relationships.Expanding influence and economic resilience are at the forefront of ASEAN’s recent decision. The ten-member association is making strides towards promoting local currencies in trade, signalling a significant shift in global economic dynamics.Rising Influence of ASEAN EconomiesBrunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam are the key players within ASEAN, collectively contributing to a rapidly growing economic block.…

A significant rescue deal has saved over 2,000 jobs at TGI Fridays in the UK.51 TGI Fridays restaurants will remain open under new ownership after administration.Despite the deal, 35 restaurants will close, resulting in 1,000 job losses.Julie McEwan expresses optimism for TGI Fridays’ future despite recent challenges.Breal Capital and Calveton have acquired the brand, aiming for modernisation and growth.Over 2,000 jobs have been preserved at TGI Fridays UK following a rescue deal that ensures the continuity of 51 restaurants across the nation. This development comes after the business faced administration, a challenging event for the casual dining sector.The rescue deal…

This week, Solana (SOL) embarks on a fresh market journey, aiming to surpass its current standing. Investors keenly watch as SOL attempts to reclaim the $160 mark amid market fluctuations and economic influences.The cryptocurrency’s recent performance, marked by sizeable gains and a slight weekly drop, prompts analysis on its future potential. Key factors including market trends and investor sentiment are crucial to understanding SOL’s trajectory in the coming days.Market Recovery TrendsSolana’s recent price uptick is part of a broader market recovery trend, notably influenced by Bitcoin’s resurgence. Bitcoin’s rise past $63,000 seems to have invigorated the market, instilling a sense…

In a surprising turn, Robinhood’s Chief Legal Officer, Dan Gallagher, emerges as a frontrunner to succeed SEC Chairman Gary Gensler should Donald Trump regain the presidency.The SEC, under Gensler’s stewardship, has maintained a firm stance against cryptocurrencies. This potential leadership shift signals substantial changes for the crypto industry, with Trump expected to champion pro-crypto policies.The SEC’s Clash with the Crypto WorldThe Securities and Exchange Commission has been embroiled in numerous legal battles with the crypto sector. Of note, its litigation with Ripple Labs garnered significant attention. Despite Ripple’s victory, the SEC’s recent appeal marks an ongoing struggle. Should Gallagher assume…

Banks to Bear the Brunt of New Fraud Compensation Rules Starting on October 7, UK banks will be legally required to compensate victims of authorized push payment (APP) fraud with a maximum reimbursement of £85,000. This new regulation is seen as a significant financial burden for banks, raising concerns about the division of responsibility for online fraud in the digital age. APP fraud, a scam in which victims are tricked into transferring money to criminals, has been increasing alongside the rise of online payments and social media use. The £85,000 cap, while steep, is actually lower than the £415,000 originally…

Goldman Sachs has reassessed the possibility of a recession in the U.S., reducing the odds to 15% following new employment data. This development highlights the resilience of the American employment sector.Recent figures have shown the strongest job growth in six months, contributing to a substantial decrease in the unemployment rate to 4.1%. The financial sector’s analyses are adjusting accordingly, reflecting renewed confidence in economic stability.Goldman Sachs’ Revised Economic OutlookRecently, Goldman Sachs released a note highlighting a pivotal shift in its economic forecasts following the latest employment data. The figures indicate that the United States experienced its most substantial growth in…