Day: June 17, 2021

Gold Fell

Gold Falls, but Bit Bargain Hunting Continues

Investors proceed to digest the U.S. Federal Reserve’s latest policy decision that registered interest rates could increase sooner. Gold futures slipped 2.07% to $1,822.95 by 12:31 AM ET (4:31 AM GMT), after tumbling more than 2.5% to its weakest level after May 6 during the previous session. The dollar moves typically inversely to gold, edged …

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Facebook Testing

Facebook Testing New AI to Prevent Disputes in Groups

The social network is experimenting with AI to spot fights in its many groups so group administrators can help quiet things down. The announcement appeared in a blog post-Wednesday. Facebook rolled out several new software tools. They will support more than 70 million people who run and moderate groups on its platform. Facebook has 2.85 …

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The World Bank Refuses El Salvador’s Request

The World Bank mentioned issues with Bitcoin’s environmental impact and transparency. Hence, it will not help El Salvador’s move to embrace Bitcoin as an officially accepted currency. The government did address the World Bank for assistance on Bitcoin. However, this is not something the World Bank can assist given the environmental and transparency deficiencies. Nevertheless, …

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Philippine Airlines

Philippine Airlines’ Parent Posts Billion-Dollar Loss

Philippine Airlines’ parent company, PAL Holdings, posted a $1.51 billion or 73 billion pesos loss in 2020. This extends the lukewarm performance incurred in 2019 and translates to a seven-fold increase compared to the same period two years ago. The company’s operations were hard-hit by the pandemic, especially that the Philippines has one of the …

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Australian Jobs

Australian Jobs Hiked at An Unprecedented Rate

Australian jobs continue their stellar performance last month as the economy reopens to the world. In May, the Australian Bureau of Statistics recorded 115,200 new job additions. This is a sharp increase from the forecast of 30,000 gains from earlier consensus. Adding to the optimism, employees now clock in longer hours with their regular jobs, …

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