The cryptocurrency, whose meteoric rise has been labelled a bubble by many critics, fell as much as 31.8 per cent from its Thursday evening peak to $10,775 per coin, according to Bloomberg data, before climbing more than 34 per cent to $14,400 by Friday afternoon in New York. Pro-independence parties in Catalonia won an absolute majority in regional elections on Thursday in a blow to Mariano Rajoy, the Spanish prime minister, that threatens to escalate the already acute tensions between Barcelona and Madrid. The three separatist parties together won 70 seats in the 135-seat assembly, less than they collectively won in the last election in 2015 but crucially just ahead of the 68-seat threshold required to form a government. Republicans say their package, the most substantial since Ronald Reagan’s reforms of 1986, is vital to energising the US economy and they view it as crucial to their chances of keeping control of Congress in midterm elections next November. The centrepiece of the package is a big cut for corporations, which will see their headline income tax rate fall from 35 per cent to 21 per cent, bringing the US broadly into line with the average rate in the developed world. |
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March 2021
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