The real estate company said a payment due on Thursday, for an onshore renminbi-denominated bond, had ‘already been resolved through off-exchange negotiations’. Photo: Hector Retamal/AFP via Getty Images European stock markets were sharply higher on Wednesday as worries over the Evergrande crisis in China started to ease. The real estate company said a payment due on Thursday, for an onshore renminbi-denominated bond, had “already been resolved through off-exchange negotiations”. Traders… Source link
Read More »Bitcoin’s flash crash comes amid brutal sell-off in global markets
The flash crash has not deterred institutional investors. Photo: AP Major cryptocurrencies were down on Wednesday morning as a flash crash in the price of bitcoin earlier this week wiped out over $200bn from the market. Bitcoin (BTC-USD) was down 1.7% to trade at $42,223 (£30,913) at the time of writing and is trading at levels not seen since August, while ethereum (ETH-USD) fell 8.3% and was trading at $2,920. “Over the last few days, bitcoin has been on a downward spiral after sentiment… Source link
Read More »U.S. Futures Rise With Stocks as Traders Await Fed: Markets Wrap
(Bloomberg) — Stocks in Europe rose for a second day along with U.S. index futures as concerns about China Evergrande Group’s debt woes eased ahead of Wednesday’s Federal Reserve policy decision. Most Read from Bloomberg Basic resources and energy were among the leading gainers in the Stoxx Europe 600 index as commodity prices steadied after Beijing moved to contain fears of a spiraling debt crisis at Evergrande that could ravage demand from the property sector. Gambling operator Flutter… Source link
Read More »Apple, Google raise new concerns by yanking Russian app
BERKELEY, Calif. (AP) — Big Tech companies that operate around the globe have long promised to obey local laws and to protect civil rights while doing business. But when Apple and Google capitulated to Russian demands and removed a political-opposition app from their local app stores, it raised worries that two of the world’s most successful companies are more comfortable bowing to undemocratic edicts — and maintaining a steady flow of profits — than upholding the rights of their… Source link
Read More »Bitcoin Rallies Amid Risk-On Market Mood After Dip Below $40,000
(Bloomberg) — Bitcoin dropped briefly below $40,000 for the first time since August amid rising criticism from regulators, before rallying as the mood in global markets improved. Most Read from Bloomberg The largest cryptocurrency broke a three-day losing streak, rising 2.9% to $42,132 as of 6:34 a.m. London time on Wednesday. It earlier slid as much as 3.2% to $39,625. Tokens including Ether, Solana and Litecoin were slightly lower over the past 24 hours. Fears of contagion from the debt… Source link
Read More »Is Alibaba Group (BABA) A Good Stock To Buy Now?
Miller Value Partners recently released its Q2 2021 Investor Letter, a copy of which you can download here. The Miller Opportunity Trust Class I gained 4.18%, underperforming its benchmark, the S&P 500 Index which returned 8.55% in the same quarter. You should check out Miller Value Partners’ top 5 stock picks for investors to buy right now, which could be the biggest winners of this year. In the Q2 2021 Investor Letter, the fund highlighted a few stocks and Alibaba Group Holding Limited… Source link
Read More »United Nations, Haiti, Google: Your Tuesday Evening Briefing
(Want to get this newsletter in your inbox? Here’s the sign-up.) Good evening. Here’s the latest at the end of Tuesday. 1. “Government by and for the people is still the best way to deliver for all of our people.” President Biden delivered his first address to the annual gathering of world leaders at the U.N. in New York amid doubts about his ability to restore U.S. leadership in the world after the Trump administration’s isolationism. Biden called for unity among allies in… Source link
Read More »Stock futures edge lower ahead of Fed decision
Stock futures opened lower Tuesday evening as investors anxiously awaited the arrival of the Federal Reserve’s latest monetary policy decision after a volatile start to the week. Contracts on the S&P 500 ticked down ahead of the decision. FedEx (FDX) shares fell in late trading after the shipping giant posted weaker-than-expected quarterly earnings, with supply chain disruptions and labor scarcities weighing on results. Disney (DIS) shares extended earlier losses after CEO Bob Chapek,… Source link
Read More »Braddock-based MeterFeeder part of Google’s Black Founders Fund
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Read More »Banks ask for space to grow crypto as regulators ponder guardrails
The nation’s largest banks are asking an international body of regulators to give them the space to grow their crypto asset exposures, sparking debate over where guardrails should be placed on the emerging asset class. On Tuesday, an advocacy group representing the eight largest U.S.-based financial institutions wrote to the Bank of International Settlements (BIS) regarding its proposal for a global framework for bank exposure to crypto assets. “We find the proposals in the consultation to… Source link
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