Bitcoin stabilized around $29,600 at press time Tuesday after breaking below the important $30,000 level on Monday. The world’s largest cryptocurrency has been in a downtrend trend since failing to hold an all-time high around $63,000 in April. Concerns about regulatory risks, less accommodative monetary policy and fading institutional demand have contributed to selling pressure over the past few months. Edward Moya, analyst at the foreign exchange brokerage firm Oanda, described… Source link

symbol indicating a place to charge an electric car with energy in Catalonia Spain According to a Bank of America Global Research (BAC) report, there is a looming threat of the global battery supply for electric vehicles (EVs) running dry by as early as 2025. “Our updated EV battery supply-demand model suggests the global EV battery supply will likely hit [a] ‘sold-out’ situation between 2025-26, with its global operating rates reaching above 85%,” the report reads. The report states… Source link

Given Mark Tritton’s extensive retail resume — consisting of opening fancy flagship stores for luxury retailer Nordstrom to bringing cheap chic back to Target’s home department — it’s not a shock the Bed Bath & Beyond CEO knew things had to seriously change inside the company’s most recognizable location of all positioned on 620 Sixth Avenue in New York City.  When Tritton walked into the ginormous 92,000-square-foot store in December 2019 soon after he took over as CEO, he knew that… Source link

Soon after Amazon (AMZN) chairman and founder Jeff Bezos returned to Earth from space on Tuesday, the billionaire received sharp criticism from progressive Senator Elizabeth Warren (D-MA) contrasting the low tax bills paid by him and Amazon with those borne by everyday Americans who “keep this country running.” The criticism came in response to remarks made by Bezos thanking Amazon customers and employees whose purchases and work “paid for” the space expedition, which was carried out by… Source link

Bitcoin cryptocurrency coins and a PC motherboard are pictured in Kyiv on 19 July, 2021. (Photo by STR/NurPhoto via Getty Images) Valuing a cryptocurrency is not nearly as simple as valuing a stock. A stock is a piece of a company, and you can look at what the company owns and its revenue, costs, profits, and trends to determine some sort of estimate of its worth. For crypto, it’s far more nebulous since coin values aren’t usually connected to revenues, profits, or any of the usual… Source link

Unvaccinated individuals are experiencing a sharp rise in new coronavirus cases as the Delta variant becomes increasingly pervasive across the U.S. According to CDC Director Rochelle Walensky, the Delta variant now accounts for 83% of all COVID cases in the U.S., a 33% increase from two weeks ago. Walensky added that 99.5% of all COVID-related deaths in the country over recent months have been among unvaccinated Americans. “This is a critical time during our pandemic and particularly we… Source link

President Joe Biden will nominate Jonathan Kanter, an ardent Google critic and competition lawyer, to lead the Justice Department’s antitrust division, as first reported by Bloomberg on Tuesday. Kanter has a long history of representing companies in competition cases against Google, and he opened his own law firm last year. If confirmed by the Senate, Kanter would take the helm on a slate of cases against big tech companies led by the Justice Department, including a monopoly lawsuit… Source link

Google has started selling a new bundle that gives you some premium entertainment to go along with the company’s Chromecast streaming gadget. For $64.99, you’ll get both the Chromecast with Google TV and three months of HBO Max. The device usually retails for $49.99, and HBO Max’s ad-free tier costs $14.99 per month, so you’re basically getting two months of the service for free. As usual with this sort of thing, the deal is only available for new subscribers of HBO Max; existing… Source link

Netflix (NFLX) is set to announce its Q2 2021 earnings after the closing bell on Tuesday, with investors looking to see if the streaming giant can recover after missing analysts’ expectations by nearly 2 million subscribers in Q1. Here’s what Wall Street is expecting from the company as compiled by Bloomberg versus how it performed in the same quarter last year. Revenue: $7.32 billion expected versus $6.14 billion in Q2 2020 Earnings per share: $3.14 expected versus $1.59 in Q2… Source link

Most Wall Street strategists agree that Monday’s market rout — fueled by yawning worries about the fast-spreading COVID-19 Delta variant — should serve as a wake-up call to investors who have sent stock prices to record valuations.  And they also generally agree on what could send stocks spiraling even lower from here — a subpar second quarter earnings season chock-full of concerning guidance due to the ongoing uncertainty of the pandemic.   “This market is vulnerable to a bigger… Source link