Topic

Personal Finance

  • News18

    US Long-term Mortgage Rates Rise; 30-year Average At 2.97%

    U.S. longterm mortgage rates rose this week but still remain near historic lows as the pandemichobbled economy strains toward recovery with more Americans getting vaccinated against the coronavirus.

  • NewsBytes

    YouTube launches supervised accounts with parental controls tailored for teenagers

    YouTube has rolled out Supervised accounts to help parents control the content their children can access on the platform. The feature is targeted at teenagers and fills the gap between YouTube Kids and unrestricted access. It offers three levels of content restriction, besides supporting parental supervision. YouTube plans to launch an early beta before rolling out the final version in the coming months.

  • Dalal Street

    FAQs on cryptocurrencies, including Bitcoin

    1) What is a cryptocurrency or a cryptoasset? A cryptocurrency is a virtual or digital currency that is secured by blockchain technology. Cryptocurrencies are currently created outside the ambit of governments. This makes them less prone to manipulation or government interference. The term cryptocurrency is used interchangeably with the term cryptoasset. 2) What is blockchain technology? Blockchain technology refers to a type of database, which involves the storage of information in a particular data structure. A blockchain collects information in groups (also called blocks) that holds a particular set of information. Each block has a storage capacity and when filled, is chained into the previously filled ‘block’ thereby, forming a chain of data called the ‘blockchain’. 3) Can cryptocurrencies be used as a medium of exchange? As of February, there were 4,051 cryptocurrencies in existence, according to Statista. Among these cryptocurrencies, only a handful of them are traded more frequently in cryptocurrency exchanges. While there have been recent moves by prominent companies like Tesla to accept Bitcoin (currently the largest cryptocurrency) as a payment in near future, a necessary attribute of a currency is its relatively stable value over the short to medium-term. On this aspect, cryptocurrencies have a long way to go. 4) What is Bitcoin? Bitcoin is the first implementation of the cryptocurrency concept. It was invented in 2009 by an anonymous person, who used the moniker, 'Satoshi Nakamoto’ and left Bitcoin project in 2010. It used blockchain technology and was created using computer processing power. This computer processing power uses high-end computational servers to solve complex puzzles and mines Bitcoin over time. There is a finite supply of Bitcoin i.e. it is set at 21 million and this will be completely mined only by 22nd century. The current market price of Bitcoin is over US$ 50,000 while its current market capitalisation is over US$ 1 trillion. 5) What are the other popular cryptocurrencies? Other than Bitcoin, some of the other cryptocurrencies include Litecoin (invented in 2011), Ethereum (with a market cap of over US$ 120 billion), Binance Coin (invented in 2017), Tron (a decentralised, blockchain platform for sharing entertainment content) and Chainlink. 6) As it stands today, how can one own Bitcoin? In order to own Bitcoin, one needs to download a wallet and then, purchase Bitcoins over a designated exchange and store it in this wallet. Some of the popular exchanges where Bitcoin can be purchased include CoinDcx, Unocoin, etc. The exchanges need you to be compliant with KYC requirements for setting up an account. Payment for Bitcoin can be settled with online transfer payments from your bank. 7) How should one look at cryptocurrencies as investments? Cryptocurrencies or cryptoassets have become more acceptable as an investment lately. For investors outside India, and in countries that allow cryptocurrencies like the US, it may be considered for small investments. However, in India, there are moves to regulate cryptocurrencies via 'Cryptocurrency & Regulation of Official Digital Currency Bill, 2021', which will be taken up for discussion once Parliament resumes on March 8. 8) What am I supposed to do next if I want to consider investing in a cryptocurrency? As there may be a move to ban private cryptocurrencies as per the discussion by the government, it is better to wait for the final announcement from the government regarding the purchase & ownership of cryptocurrencies before making any decisions in this regard.

  • Reuters

    LVMH's Moet Hennessy buys in to rap star Jay-Z's champagne brand

    LVMH's Moet Hennessy is buying a 50% stake in rap star Jay-Z's Armand de Brignac champagne brand, the latest luxury brand to try to broaden its appeal with a celebrity tie-up. "I'm proud to welcome the Arnault family into ours through this partnership," the "Empire State of Mind" singer said in a statement, referring to the family that runs LVMH. Financial terms of the deal, which was reported earlier by the Wall Street Journal, Financial Times and New York Times, were not disclosed.

  • News18

    MIT Scientists Develop Hybrid-Electric Engine for Airplanes, Can Cut Upto 95 Percent Emissions

    Aircrafts emit a constant flow of nitrogen oxides into the atmosphere responsible for asthma, respiratory diseases and cardiovascular disorders.

  • ET Now

    Who Can Afford To Take The Tax Revenue Hit? | India Development Debate

    Who should reduce taxes on fuel first - Centre or State? Who can afford to reduce taxes? What about the agri infra cess? Limits of consumers are being tested at this point? Why is there no concern for inflation? We collected 94,000 more in FY21 than budgeted from Duties on petrol and diesel. States gain from higher central taxes as their percentage of tax is levied on the base that includes Central taxes. The states' tax revenue from VAT on the fuels have fallen 17.6% annually to Rs 78,164 crore in the first half of FY21. Here’s the debate with Tamanna Inamdar, R Gopalan, Former Secretary, Dept of Economic Affairs, Former Finance Secretary, Pratik Jain Leader - Indirect Tax, PWC & Madan Sabnavis, Chief Economist, CARE Ratings.

  • News18

    Amazon Wants To Make Some Cool Smart Gadgets, But Will Not If You’re Not Enthusiastic

    The first three smart gadgets on the agenda as part of Amazon Build It are a Smart Cuckoo Clock, a Smart Nutrition Scale and a Smart Sticky Note Printer. If the crowdfunding goal isn’t met, the products will not go into production and you won’t be charged a penny.

  • News18

    Microsoft Edge Testing Kids Mode to Ensure Safe Web Browsing Experience for Children Below 12 Years

    Microsoft has reportedly designed the Kids Mode for children between 5-12 years. The children-specific mode has three custom browser themes and child-friendly articles to help them safely browse the web.

  • News18

    Vaccine Delays Leave Grocery Workers Feeling Expendable

    As panicked Americans cleared supermarkets of toilet paper and food last spring, grocery employees gained recognition as among the most indispensable of the pandemic's front-line workers.

  • News18

    New Enrollment Window Opens For Health Insurance Shoppers

    Health insurance shoppers stuck in a bad plan or unable to find coverage have a new option for help.