Count Rick Rieder, BlackRock’s chief investment officer of global fixed income, as a believer in cryptocurrencies.  “I think it could have some real upside. My sense is there are more buyers than sellers. It’s an asset class that I think is durable,” Rieder said on Yahoo Finance Live.  Rieder revealed he owns “small pieces” of crypto in several of his bigger portfolios, and compares the positions to owning stakes in venture capital firms.  “Quite frankly, I am glad I do [own crypto]. This… Source link

As you’re all well aware, given the current financial, political, and social environment, there’s never been a more interesting, and dare I say, important time to be a financial journalist. As the market leader in digital business news and data, Yahoo Finance attracts droves of readers who come for our trusted content and best-in-class reporting. And as the marketplace continues to evolve, we’re looking to continue growing in areas like crypto, fintech, and personal finance. To that end,… Source link

Amazon (AMZN) is facing expanded antitrust claims in an amended lawsuit originally brought against the e-commerce giant in May by the Attorney General for the District of Columbia. The original suit, filed in May, accused Amazon of illegally abusing its monopoly power and violating the District of Columbia Antitrust Act by forbidding third-party sellers from offering cheaper rates for their products on competing websites. In the amended suit, Washington, DC Attorney General Karl Racine adds… Source link

BWH Hotel Group announced Monday that President and CEO David Kong will be retiring at the end of the year. His successor will be announced at the company’s Annual Convention on Oct. 7. The longest serving CEO of any major hotel company, Kong transformed Best Western over his 17-year tenure, growing the company from one brand to 18, covering nearly every segment of the industry, with 4,500 hotels in 100 countries. He leaves as the hospitality sector faces a rocky recovery from the COVID-19… Source link

The U.S. Securities and Exchange Commission (SEC) signaled a big change in policing cryptocurrencies last week, as one of the largest crypto exchanges in the world revealed it was blocked from launching a new crypto lending product. As Coinbase CEO Brian Armstrong explained, the SEC took issue with the company’s plans to pay interest to customers so they could earn up to 4% on their crypto assets. The particular crypto asset Coinbase was preparing to offer 4% on was the least volatile asset… Source link

Stocks rose on Monday, with the major equity averages looking to recover some losses after five straight sessions of declines. The Dow added more than 200 points, or 0.6%, shortly after the opening bell. Shares of Apple (AAPL) led the way higher as the stock shook off losses from Friday, which came after a California judge issued a permanent injunction against the iPhone-maker’s App Store policies amid an antitrust lawsuit with Epic Games. Investors also awaited a highly anticipated Apple… Source link

Google realized late last year that it may have been underpaying thousands of temporary workers around the world, but opted to initially change its pay structure only for newly hired temps, according to a pair of reports. Why it matters: The revelation comes amid growing workplace activism at Google, including the formation of a minority union that advocates for temporary and contract workers along with full-time employees. Driving the news: The New York Times and The Guardian both reported on… Source link

Starting next year, consumers will be able to buy smart home devices — like thermostats, lighting systems and kitchen appliances — that can talk to one another through a new connectivity standard called Matter. Why it matters: Interoperability of home devices has long been a distant dream, but big boys like Amazon, Google and Apple have coalesced around Matter, hoping it will become a common brand name governing the Internet of Things (IoT). How it works: Sometime in 2022, companies… Source link

Brokerages predict that Yandex (NASDAQ:YNDX) will announce earnings per share (EPS) of $0.02 for the current quarter, according to Zacks. Zero analysts have issued estimates for Yandex’s earnings. Yandex posted earnings per share of $0.27 in the same quarter last year, which would suggest a negative year over year growth rate of 92.6%. The business is scheduled to report its next quarterly earnings report on Wednesday, October 27th. According to Zacks, analysts expect that Yandex will… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Monday, September 13, 2021 But that doesn’t mean you should sell The calls for a stock market correction are beginning to blow through the streets of Wall and Broad. We aren’t talking about the reiteration of a decade-long Nouriel “Dr. Doom” Roubini type call for a stock market crash due to the always easy excessive valuation and bloated government… Source link