Bitcoin’s sharp sell-off from $107,000 was the result of profit taking, not contagion from Moody’s recent downgrade of US debt. Key takeaways: Bitcoin recovered from its sharp sell-off from $107,000, suggesting it functions as a hedge against uncertainty for investors reacting to Moody’s recent downgrade of US debt. Moody’s downgraded the US credit rating to Aa1, citing a $36 trillion debt and rising deficits, causing market turbulence and a spike in US Treasury yields. Read more
Faurecia Romania, the local subsidiary of French automotive component giant Faurecia, ended 2024 with a turnover of RON1.516 billion (EUR304.8 million), down 5.6% from RON1.6 billion (EUR324.8 million) reported for 2023, as per calculations by Ziarul Financiar (ZF) based on finance ministry data.