Technology start-ups aiming to fight climate change have raised $32bn from venture capitalists since the start of the year. This was reported by CNBC, citing a joint report by research firms Dealroom and London & Partners. This exceeds the amount of money raised by such startups in all of last year and is almost five times the amount raised in 2016 ($6.6bn), when investors started to pay more...

Equity trading app Robinhood reported significant revenue declines in the third quarter. Crypto-trading activity and cryptocurrency revenues fell the most, more than four times compared to the second quarter. Online broker Robinhood reported a big drop in revenue in the third quarter, as cryptocurrency trading on the company's app fell by more than four times, CNBC reports. The downward trend in...

Nigerian President Muhammadu Buhari has announced the country's digital currency, the eNaira. eNaira is the first state electronic currency in the region. The coin was developed for the country's government by Barbados-based firm Bitt. The currency was first scheduled to be introduced on October 1, but the event was postponed due to celebrations marking Nigeria's Independence Day. Authorities...

The New York Stock Exchange began trading the shares of the first US index fund (ETF), which deals only with cryptocurrencies. ProShares shares with the ticker symbol BITO jumped 3% immediately after the opening, but then lost some of their momentum and by the middle of the trading session were 1.4% above the opening level.  The fund does not trade the cryptocurrency itself, but rather...

Worldwide car production could come to a halt as early as next year as China experiences significant supply disruptions of magnesium, a key ingredient in the creation of aluminium alloys used in cars. According to the Financial Times, the energy crisis in China has forced authorities in Shaanxi province to close 35 of 50 magnesium smelters about a month ago. The rest were told to halve production...

OPEC+ countries produced 15% less oil in September than planned, sources told Bloomberg. If oil prices do not fall, the union could face "increased political pressure". OPEC+ countries once again failed to meet oil production targets in September. This was reported by Bloomberg with reference to knowledgeable delegates from the member countries of the association.  In September, OPEC+...

South Korea's car exports fell 20.7 percent year-on-year in September, according to the country's Ministry of Industry, Trade and Energy South Korean manufacturers shipped abroad 151.7 thousand vehicles worth $3.6 billion in September, which is 6.1% less compared to the same period in 2020. The reduction is due to a shortage of semiconductors. Car production fell 33.1% in September and domestic...

The world may face a new financial crisis comparable to the 2008 collapse, the deputy governor of the Bank of England warned. The cause will be the uncontrolled growth of cryptocurrencies, whose market reached $2.3 trillion in just a few years. The world may face a new financial crisis comparable to the collapse of the global economy in 2007-2008, said Deputy Governor of the Bank of England, Jon...

The global community's plans to cut greenhouse gas emissions will not radically reduce demand for fossil fuels, according to the International Energy Agency's (IEA) global outlook to 2050. However, even the agency's most conservative scenario now foresees a drop in overall demand for gas, coal and oil beyond the 2030s for the first time. In the baseline scenario, however, fossil fuel demand will...