Bitcoin’s recent price increases continued unabated on Wednesday, as the world’s most well-known digital currency roared to new highs above $14,000. In the last twenty-four hours alone, Bitcoin has repeatedly set new record highs, breaking through the $12K, $13K, and $14K price barriers. The gains increased Bitcoin’s total market capitalization to more than $246 billion. The latest buying spree, which defies chatter about a bubble ready to pop, appears to have driven by a recent frenzy of interest among South Korean speculators and news that bitcoin derivatives will be sold in the U.S. by next week.
The Financial Times has published the 2017 edition of its European Business School Ranking, which is based on the performance of each business school's MBA, EMBA, Master in Management and Executive Education programs. The top 10 in this year's ranking shows only a minor shuffling from last year. For the fourth year in a row, London Business School leads the ranking, even though the school's position in the FT's Global MBA Ranking dropped this year, from third to sixth.
The Australian Competition and Consumer Commission (ACCC) on Wednesday said it is taking local units of GlaxoSmithKline and Swiss healthcare company Novartis to court over false or misleading representations in the marketing of pain relief products. It claims they represented Osteo Gel on its packaging and online as specifically formulated for treating osteoarthritis and was more effective than Emulgel, when they had identical formulas.
A Yale expert has added his voice to the growing list of bitcoin naysayers by arguing that it is a ‘dangerous speculative bubble.’ The digital currency has been experiencing record highs throughout 2017. However, despite the impressive journey that bitcoin has been on, that hasn’t stopped many from claiming that it is in a bubble. Another voice added to that list is Stephen Roach, a Yale University senior fellow and the former Asia chairman and chief economist at Morgan Stanley, reports CNBC.
Swiss Federal prosecutors said on Monday that the Swiss authorities were examining information provided by banks about possible suspicious transactions related to Saudi accounts. The comments came in response to a report published in the Financial Times, which quoted unnamed sources who claimed that the Swiss banks began reporting suspicious activities within the accounts of some Saudi clients.
Google announced Monday an open source version of DeepVariant, the artificial intelligence tool that last year earned the highest accuracy rating at the precisionFDA’s Truth Challenge. The open source tool comes as academic medical centers, hospitals, insurance companies and other healthcare organizations are gearing up for if not already embarking on artificial intelligence, cognitive computing and machine learning as well as precision medicine and the genomic sequencing that entails.
The price of bitcoin has risen above $12,000 for the first time. According to CoinDesk's Bitcoin Price Index (BPI), the price of the world's largest cryptocurrency by market capitalization is trading at $12,201.67. This represents a gain of just over $500 since the day's open and a gain of more than 4 percent overall. With Wednesday morning's spike, the cryptocurrency now has a total market value of about $203 billion, more than twice Goldman Sachs' market cap.
Nestlé Chief Executive Officer Mark Schneider made his biggest acquisition yet, agreeing to buy Canadian dietary supplements maker Atrium Innovations for $2.3 billion in a bid for growth beyond stagnating mainstream food brands. The world’s biggest food company is acquiring Westmount, Quebec-based Atrium from an investor group led by Permira Funds, Nestlé said in a statement Tuesday. The Swiss owner of Nespresso and Lean Cuisine is paying cash for the Garden of Life supplement maker, whose 2017 sales are expected to approach $700 million.
The EU has named and shamed 17 states in publishing the bloc’s first ever tax haven blacklist and put a further 47 states on notice, including four British overseas territories and crown dependencies. The decision was made at a meeting of finance ministers in Brussels as EU authorities move to counter tax avoidance and evasion - having urged dozens of nations to make greater commitments to transparency over the past year.
The uncertainties of the monetary system mean that bitcoins and cryptocurrencies will be used increasingly in the future, especially once the regulatory bodies have found a way to eradicate anonymity, charging the exchanges with anti-money laundering responsibility.
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