Major cryptocurrency exchanges experienced technical issues on Monday as trading volumes soared after billionaire Elon Musk's Tesla Inc revealed it had purchased $1.5 billion of bitcoin and would soon accept it as a form of payment.
Bitcoin took another large stride toward mainstream acceptance on Monday after billionaire Elon Musk's electric vehicle company Tesla Inc revealed it had bought $1.5 billion of the cryptocurrency and would soon accept it as a form of payment for cars - sending the cryptocurrency shooting higher.
Tesla Inc said on Monday it had invested around $1.5 billion in bitcoin and expected to begin accepting payment for its cars and other products with it in the near future, prompting a more than 10% jump in the electronic currency.
Elon Musk-led Tesla Inc announced on Monday it had invested $1.5 billion in Bitcoin and said it may start accepting the cryptocurrency as a form of payment soon for orders. The move sent Bitcoin up more than 10% to a record high.
Bitcoin surged anew on Monday when Elon Musk electrified its prospects by pledging Tesla Inc would soon take payment for its electric vehicles in the currency and revealed it had already bought $1.5 billion worth of it.
Oil prices rose 2% on Monday to their highest in over a year, with Brent nudging past $60 a barrel, boosted by supply cuts among key producers and hopes for further U.S. economic stimulus.
With the pandemic still suppressing ridesharing demand, Wall Street is keen to know how soon Uber Technologies Inc and Lyft Inc expect a rebound and how they plan to keep costs under control until then.
Wall Street advanced on Monday, setting a course for record closing highs as stimulus prospects and ongoing vaccine deployment boosted investor optimism over the pace of economic recovery from the pandemic recession.
Goldman Sachs Group Inc on Monday appointed former PayPal executive Swati Bhatia and insider David Stark to leadership roles in its consumer banking unit, according to a memo seen by Reuters.
Freed from his daily obligations at Amazon, Jeff Bezos is set to focus on his rocket business, Blue Origin, according to industry sources. Julian Satterthwaite reports.
The number of mask manufacturers in France has risen five-fold to 20 since the start of the crisis. But four in every five masks were still imported from China, and French manufacturers want government assurance over their future once the pandemic is over. Ciara Lee reports
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