(Bloomberg) — For two decades Chinese tech firms have flocked to the U.S. stock market, drawn by a friendly regulatory environment and a vast pool of capital eager to invest in one of the world’s fastest-growing economies. Now, the juggernaut behind hundreds of companies worth $2 trillion appears stopped in its tracks. Beijing’s July 10 announcement that almost all businesses trying to go public in another country will require approval from a newly empowered cybersecurity regulator… Source link

In a big week for pandemic relief, Americans just got $20 billion in new aid Though politicians, researchers, advocates and everyday Americans have been calling for additional direct payments for most Americans, the government already is providing additional support for people struggling to make ends meet and deal with debt as the effects of the pandemic linger. More than $20 billion in COVID relief was paid out in the last week alone. Some of that may be on its way to you. $15 billion from the… Source link

Authorities in Malaysia have destroyed 1,069 cryptocurrency rigs after they were confiscated in raids earlier this year. A steamroller was used to crush the hardware in the city of Sarawak, after the electric utility company of the Malaysian province accused the mining operators of stealing electricity for their activities. The operators allegedly stole RM8.4 million ($2-million) worth of energy from the company. Authorities say the operation was scattered across four locations and six… Source link

By David Lawder and Joel Schectman    WASHINGTON, July 18 (Reuters) – U.S. lawmakers trying to salvage a $1.2 trillion bipartisan infrastructure bill have dropped a provision to beef up tax enforcement, Republican Senator Rob Portman said on Sunday, setting aside a significant revenue-raising measure.    The provision, aimed at increasing Internal Revenue Service (IRS) collections, will instead likely be added to a separate budget “reconciliation” bill being pushed by Democrats as a… Source link

For inexperienced hikers, smartphones are a multipurpose tool: a flashlight, an emergency beacon and a GPS, all in one device. But it can be ill-advised, and possibly life-threatening, for hikers to rely solely on their phones as they head into the wilderness, experts say. Apps and online maps have disoriented hikers on both sides of the Atlantic. In Scotland, mountaineers are warning visitors that Google Maps may direct them toward “potentially fatal” trails that would force them to trek… Source link

Just when we thought that COVID was starting to fade, the Delta variant has come our way. Is this the dreaded vaccine-resistant wave that will put economies back into lockdown? So far, at least, that doesn’t appear so – while this variant has shown the ability to infect people who are fully vaccinated, the vaccines have also shown efficacy in preventing serious illness, even from the Delta variant. What we’re looking at is an increase in cases, but a decrease in serious… Source link

This week, second-quarter earnings season will ramp up, offering investors a fuller picture of the extent of the rebound in corporate profits as social distancing standards eased. Data on the housing market will also be in focus. So far, companies have been topping already-elevated expectations for second-quarter results. About 8% of S&P 500 companies have reported results so far, mostly comprising banks. And of those reporting, 85% have topped estimates, according to FactSet data. One of the… Source link

Adrian Black / Getty Images Dogecoin co-founder Jackson Palmer had some harsh words about cryptos, calling them “an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity,” in a Twitter rant yesterday. Palmer added that he will wholeheartedly not “return to cryptocurrency.” See: Which Cryptocurrency Are You Invested In? Take… Source link

Come 2034, incoming revenues will be enough to pay about 76% of scheduled Social Security benefits, a 2020 Social Security Administration trustees report predicts. Given that, how might different generations plan for this? Should they plan for a 24% decline in their scheduled benefit? Should they not factor Social Security benefits into their retirement income plan at all? Or might they do something else. “Though I think it far more likely that some combination of reforms will eliminate the… Source link

In this May 2000 file photograph, sheep graze at the base of Ben Nevis in Scotland. Photo: Lisa Marie Pane (AP) A few years ago, instead of leading my best friend and I through a lovely and picturesque Spanish mountain trail, Google Maps took us to an isolated field with some cows. While I learned then not trust the internet when it comes to nature, it appears that an increasing number of visitors to the Scottish mountain Ben Nevis continue to do so, which could endanger their lives. In… Source link