Good morning! Here's what you need to know in markets on Tuesday.
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10 things you need to know in markets today
Here's what you need to know on Tuesday.
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The major crypto-currencies are getting smoked in Asian trade today.Ethereum has lost as much as 8% and a short time ago had fallen below $200 for the first time since May. Meanwhile, Bitcoin was around 6.5% lower. It follows steep falls overnight, when Bitcoin crashed by 7% and Ethereum shed a whopping 13.53.%.
China's sovereign wealth fund China Investment Corp (CIC) on Tuesday reported a 1.88% rise in 2016 net profit, boosted by stronger return from its overseas portfolio.Profit rose to $75.3 billion, from $73.9 billion a year earlier, its annual report showed. Total investment income was $83 billion in 2016, compared with $76.7 billion in 2015.
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Oil prices edged up early on Tuesday, lifted in part by a strong demand outlook for the coming weeks, but overall market conditions remain weak on the back of ample supplies and a more subdued outlook for long-term demand.Brent crude futures were at $47.01 per barrel as of 6.45 a.m. BST, up 13 cents, or 0.3%, from their last close.
Britons working in the "gig economy" for firms such as taxi app Uber and takeaway food courier Deliveroo deserve more rights, a government-commissioned report said on Tuesday. It added, however, that government should avoid adding to regulations.
U.S. President Donald Trump plans to nominate former Treasury official Randal Quarles to be the Federal Reserve's first vice chairman of supervision, the White House said on Monday.Quarles' nomination must be confirmed by the Senate.
An investor in Martin Shkreli's hedge fund testified on Monday that the former drug company executive, now on trial for securities fraud in federal court in New York, reminded him of Dustin Hoffman's autistic character in the movie "Rain Man."Schuyler Marshall, chairman of the board of the real estate company Rosewood Corp, said under cross-examination by Shkreli's lawyer, Benjamin Brafman, that he was not claiming Shkreli was autistic.
The CEO of defunct Mt. Gox pleaded not guilty on Tuesday to charges relating to the loss of hundreds of millions of dollars worth of bitcoins and cash from what was once the world's biggest bitcoin exchange, the Nikkei business daily reported.Mark Karpeles, a 32-year-old French national, filed the plea in response to charges of embezzlement and data manipulation at the Tokyo District Court, the Nikkei said.
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Apple is planning to build another data centre in Denmark as it struggles to get a similar data centre in Ireland off the ground.The second Apple data centre in Denmark will cost the company $920 million (£815 million), according to local media reports. Construction is expected to start before the end of 2017.
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