2020 Financial News

pound headed for a seventh straight day of losses on Monday against the dollar, its longest losing streak since the onset of the pandemic in 2020, after a survey showed Britain's private sector growing at its slowest pace in six months in July. The S&P Global/CIPS composite Purchasing Managers' Index showed a preliminary reading of 50.7, down from 52.8 in June in the biggest month-on-month drop in 11 months. Although above the 50-level that separates growth from contraction, it was the weakest reading since January.Sterling was last down 0.2% on the day at $1.2827 having touched a session low earlier of $1.2808 after a preliminary survey of UK business activity showed a downturn in British manufacturing deepened, while the service sector also slowed.

International Trade Commission (ITC), alleging that the vehicle is a copy of Willys Jeep and design elements of Mahindra's vehicle infringed some key design elements of Jeep. Trade dress consists of the unique characteristics that make a product stand apart and is generally accepted as identified with that product by the public.

Fiat Chrysler Automobile's (FCA's) renewed motion to enjoin the Post-2020 Roxor and based on its analysis declined to apply the safe distance rule to this case as sought by FCA, Mahindra & Mahindra said in a regulatory filing. Accordingly, FCA's motion to enjoin the post-2020 ROXOR was denied, it added.

crypto and blockchain sector witnessed an investment of $2.32 billion in Q2 2023, marking a new cycle low and the lowest since Q4 2020, continuing a downtrend that began after a peak of $13 billion in Q1 2022, a new report has shown. According to the crypto investment firm Galaxy Digital, crypto and blockchain startups raised less money across the last three quarters combined than they did in just Q2 of 2022. In Q2 2023, 10 new crypto VC (venture capital) funds raised only $720 million, the lowest amount since Q3 2020, at the start of the Coivd-19 pandemic.

macroeconomic uncertainties and geopolitical headwinds, along with tight credit markets, pulled down private equity investments into the country by 61% in the first half of 2023 to USD 6.1 billion, according to a report. The value is the lowest in the January-June period since 2020, shows data collated by Refinitiv, a London Stock Exchange Group subsidiary and one of the world's largest financial markets data and insights providers. Despite the funding winter in the space, startups continued to attract the largest share of private equity capital, which in absolute terms was a steep 69 per cent decline year-on-year.

New Delhi: India’s daily covid-19 tally dropped to a record low, not seen since the onset of the pandemic in early 2020, as per data from the union health ministry on Monday. The country reported only 24 new infections in the past 24 hours, marking the smallest count since the first reported case in January 2020. A consistent downturn in cases has been observed over several months.

Delhi riots. Additional Sessions Judge Pulastya Pramachala passed the order while hearing a case against Sahil, Dinesh, Tinku, Sandeep, Vikas Kashyap and Sonu, who were accused of being a part of a riotous mob that committed trespass and thefts in a shop in Bhagirathi Vihar during the riots on the intervening night of 24th and 25th February 2020. They were also accused of being members of an unlawful assembly that committed arson, trespass and theft in a nearby house around 9 pm on February 24.

coronavirus infections, the lowest since March 2020, the health ministry said in an update on Tuesday. Active caseload fell to 1,468 from 1,475, with the tally of reported cases at over 4.50 crore and death toll at 531,908. Covid cases have declined over the last three months after a surge in infections due to XBB.1.16 Omicron variant.

Bitcoin registered a second straight quarterly gain, tightening its grip on crypto markets as smaller tokens nurse losses. The largest digital asset rose 7% in April through June, aided by optimism about increasing demand if BlackRock Inc., Fidelity Investments and others succeed in their efforts to start spot Bitcoin exchange-traded funds in the US. In contrast, smaller tokens have been weighed down by the US Securities and Exchange Commission’s growing list of coins viewed as unregistered securities, a designation that can make those assets harder to trade. Bitcoin doesn’t face a similar overhang because American officials view it as a commodity. An index comprising the bottom half of the top 100 tokens by market value dropped 25% this quarter. The divergence between Bitcoin’s performance over the period and the latter gauge was the widest since the last three months of 2020. That’s even with an end-of-quarterly rally in tokens such as Bitcoin Cash and Litecoin.

A culprit in the infamous 2020 Twitter hack who phished thousands of dollars in Bitcoin from Twitter users has been sentenced to five years in prison for his crime, as well as for a separate SIM swapping scheme. 

Bitcoin (BTC) is copying the prelude to its 2020 breakout to an “insane” extent, the co-founders of Glassnode have said.

A two-month-long lull in cryptocurrency optimism has seen online search interest for “crypto” and other common cryptocurrency terms stumble down to late 2020 levels.

A leading Hong Kong-based blockchain gaming and Web3 investor, Animoca Brands, has delayed its financial report since 2020.

The United State Department of Justice has announced the extradition of a 23-year-old UK citizen behind the 2020 Twitter hack and other cybercrimes, including the theft of $794,000 in digital assets. 

The price of Ethereum’s native token, Ether (ETH), has recovered 78% since June 2022. But this doesn’t guarantee further upside, particularly with declining trading volumes suggesting that the risk of a major correction is high. 

Bitcoin (BTC) keeps pushing for a bullish end to February as the monthly close starts another week’s price action.

The Ethereum ecosystem has seen only 226 validators slashed since the launch of the Beacon Chain on Dec. 1, 2022 — amounting to just 0.04% of 524,060 validators, according to an Ethereum core developer.

Bitcoin (BTC) circled $23,500 on Feb. 4 as bulls refused to give up support in out-of-hours trading.

Binance has acquired Indonesian crypto asset trader Tokocrypto, according to local reports on Dec. 19. The purchase was confirmed in a tweet by Binance CEO Changpeng Zhao (CZ), who characterized the deal as having “just injected more cash and increased our shareholding a bit.” Changes are expected at the exchange.

Ethereum's native token, Ether (ETH), eyes a strong bullish reversal after losing 25% from its November high of $1,675, according to a bottom fractal spotted by independent market analyst Wolf.

Desmond Lachman is a senior fellow at the American Enterprise Institute. He was a deputy director in the International Monetary Fund’s policy development and review department and the chief emerging market economic strategist at Salomon Smith Barney