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Binance CEO Changpeng Zhao to resign, admit guilt

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Binance, the world’s largest cryptocurrency exchange, is set for a major leadership change as its founder and CEO, Changpeng Zhao, has agreed to step down from his position and plead guilty to undisclosed charges.

This shocking development comes as regulators around the globe have been intensifying their scrutiny of the cryptocurrency industry.

Zhao has agreed to pay a criminal fine of $50 million, although that amount may be reduced based on separate civil penalties he has agreed to pay.

The news of Zhao’s resignation and admission of guilt has sent shockwaves through the cryptocurrency community, with many speculating about the nature of the charges and the potential impact on Binance’s operations.

It now raises questions about the future of the exchange and the broader implications for the cryptocurrency market.

Zhao resides in the United Arab Emirates and had curtailed his travel this year.

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Australia’s GST debate heats up amid tax reform push

Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.

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Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.


Australia is facing a fierce debate over tax reform, with fresh calls to broaden the Goods and Services Tax as the government searches for more stable revenue streams. With an ageing population putting pressure on health, pensions and long-term spending, economists argue the current reliance on personal income tax may not be sustainable.

Dr Steven Enticott from CIA Tax joins Ticker to break down the real impact of expanding the GST, including how it could affect lower-income households, whether taxing unrealised gains would change investor behaviour, and what compensation mechanisms could soften the blow on essential goods. The political risks are high, but so are the fiscal stakes.

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Big tech stocks slide amid AI spending concerns

Tech giants like Microsoft and Amazon lose billions as investors prioritize earnings over AI, while TSMC and Samsung thrive.

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Tech giants like Microsoft and Amazon lose billions as investors prioritize earnings over AI, while TSMC and Samsung thrive.

Microsoft, Amazon, Apple, Nvidia, and Alphabet have all suffered steep losses this year, with Microsoft dropping 17% and Amazon falling nearly 14%. Investors are growing cautious as AI spending concerns weigh heavily on valuations.

This shift signals a market focus on immediate earnings rather than the long-term promise of AI, marking a notable change in investor sentiment across the tech sector.

Despite the setbacks for these giants, the tech landscape is not uniform, with other companies managing to grow despite market turbulence.

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AI fears rattle global markets and investors

AI developments cause market volatility, with European software and US tech firms facing significant declines amid rising uncertainty.

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AI developments cause market volatility, with European software and US tech firms facing significant declines amid rising uncertainty.

Global stock markets are experiencing heightened volatility as concerns about AI disruption sweep across industries. Investors are closely monitoring which sectors could be most affected as the technology continues to evolve.

Recent announcements from major US AI companies sent waves through international markets, highlighting the interconnected nature of global finance and technology. European software giants such as Dassault Systèmes and RELX saw significant declines, underscoring the global reach of AI developments.

UBS analysts warn that the impact of AI disruption could intensify in 2026 and 2027, with potential ramifications for a wide range of sectors.


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