Asset bubbles may now be too big to burst, creating a situation that Central Banks around the world might be unable to control. If it all comes crashing down, we think there’s only one place to be … Gold. The precious metal could rise as high as $3,000 to $5,000 per ounce in the next 3-5 years. That’s according to the same fund manager who predicted the 2016 gold rally. As cited by Bloomberg, Diego Parrilla, manager of the $250-million Quadriga Igneo fund that called the last gold rally,… Source link

WASHINGTON, Aug 11 (Reuters) – A bipartisan trio of senators introduced a bill that would rein in app stores of companies they said exert too much market control, including Apple Inc (AAPL.O) and Alphabet Inc’s Google (GOOGL.O). Democratic Senators Richard Blumenthal and Amy Klobuchar teamed up with Republican Senator Marsha Blackburn to sponsor the bill, which would bar big app stores from requiring app providers to use their payment system. It would also prohibit them from punishing apps… Source link

Stock futures opened little changed Wednesday evening after another record-setting session, as investors took into account a report pointing to contained inflationary pressures and considered the likelihood of more government spending on infrastructure. Contracts on the S&P 500 hugged the flat line. Both the blue-chip index and the Dow rose to record intraday and closing levels for a second straight session on Wednesday.  One of the latest sources of fuel for equities came after the Labor… Source link

If you’ve heard anything about Bitcoin, it’s likely been about its price skyrocketing or plummeting. But, for those who are looking to invest long term, there’s a different question that should be asked—what will one Bitcoin be worth in 10 years? Where Bitcoin Is Going For Bitcoin, no prediction is guaranteed, but an interesting vision shared by MicroStrategy CEO, Michael J. Saylor, is that once Bitcoin passes the market cap of gold, around $11T currently, nothing will stop it. Saylor… Source link

Three Northern Kentucky Kroger locations are participating in the Cincinnati-based grocery giant’s new partnership with Google Maps. A new program launched Wednesday that both companies say will help to streamline the grocery pickup experience. The pickup option increased in popularity during the COVID-19 pandemic. According to a news release, when groceries are ordered from Kroger via the grocer’s app, users will have the opportunity to add the order to Google Maps.  When it is time to leave,… Source link

The proposed bipartisan legislation by Sens. Richard Blumenthal, Amy Klobuchar and Marsha Blackburn would outlaw certain contractual obligations that app developers say they are forced to accept from major app stores in order to reach consumers. If enacted, the bill could impose sweeping new requirements on major tech platforms; its provisions apply to all app distribution services with more than 50 million users. Under the bill, Apple (AAPL) — for example — could not require apps to use… Source link

(Bloomberg) — Moderna Inc. and BioNTech SE, the world’s leading Covid-19 vaccine makers, tumbled for the second day in a row, losing roughly $60 billion in combined market value as investors balked at the companies’ lofty valuations. The declines deepened Wednesday with Moderna closing 16% lower and BioNTech dropping 14% as trading volume picked up. The stocks had soared more than 360% each this year through Monday, when both set record closing highs. Wall Street has been divided on the… Source link

New weekly jobless claims likely took another step lower last week, with the labor market’s recovery still making headway despite the lingering threat of the Delta variant.  The Labor Department is set to release its weekly jobless claims report on Thursday at 8:30 a.m. ET. Here are the main metrics expected from the print, compared to consensus estimates compiled by Bloomberg: Initial unemployment claims, week ended August 7: 375,000 expected and 385,000 during prior week  Continuing claims,… Source link

A new bipartisan bill announced Wednesday seeks to bring more competition to the app store market currently dominated by Apple and Google. The Open App Markets Act, led by Sens. Marsha Blackburn, R-Tenn., and Richard Blumenthal, D-Conn., and Amy Klobuchar, D-Minn., would shake up the business model of both company’s app stores and the structure of their mobile operating systems. The bill targets, in part, the in-app payment systems for companies that own app stores with more than 50 million… Source link

Google CEO Sundar Pichai (Photo by Getty Images/Getty Images for Greentech Festival) Getty Images for Greentech Festival It always felt like companies were acting as if they were doing their employees a favor by letting them work remotely. Despite the fact that major corporations, like Microsoft, Google, Amazon, Apple, Facebook, Goldman Sachs, Morgan Stanley and JPMorgan, did phenomenally well during the pandemic, as almost everyone worked from home, there was still the undercurrent… Source link