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* Decision comes just weeks after Tesla began accepting bitcoin * Tesla will retain bitcoin holdings * Musk reiterates faith in cryptocurrencies * Bitcoin “mining” under environmental spotlight (Adds fresh analyst comments in paragraphs 11-17) By Hyunjoo Jin and Kanishka Singh May 12 (Reuters) – Tesla Inc will no longer accept bitcoin for car purchases, Chief Executive Elon Musk said on Wednesday, citing long-brewing environmental concerns for a swift reversal in the company’s position on the… Source link

Just weeks after Tesla started accepting Bitcoin as currency for cars, Elon Musk revealed in a tweet that it will “suspend” the effort. According to the release (Tesla does not appear to have a functioning press office), the company is “concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions.”  A study last year estimated bitcoin mining used 7.46 GW of electricity on average, and the same study puts the number right now at 16.71 GW. That would represent… Source link

Stock futures were mixed in Wednesday’s after-hours session, with investors awaiting the latest read on the jobs market, still unsettled by spiking prices that could throttle the recovery.  During Wednesday’s regular session, fears of rising inflation hammered Wall Street after grim consumer price data sparked a sell-off in blue chip and technology shares, amplifying new concerns about the rebound from COVID-19. The Dow Jones Industrial Index (^DJI), S&P 500 Index (^GSPC) and Nasdaq (^IXIC)… Source link

The Food and Drug Administration authorized Pfizer’s COVID-19 vaccine on Monday for use in children ages 12 to 15. The vaccine, which had been previously authorized for people 16 and older, is the first COVID vaccine to receive approval for use in younger teens and adolescents. The Centers for Disease Control and Prevention backed the plan in a unanimous vote on Wednesday. Yahoo News Medical Contributor Dr. Kavita Patel explains why parents should consider getting their children 12 and… Source link

The Daily Beast Mass Grave Dug on Banks of Ganges for 100 Possible COVID Victims Found Floating Down River Danish Siddiqui via ReutersIn a macabre twist to a situation that is already too dire to comprehend, authorities in the Indian states of Bihar and Uttar Pradesh have had to call in excavators to dig a mass grave after nearly 100 bloated and decomposing bodies were found floating in the Ganges River. Scammers Sell Fire Extinguishers as Oxygen Cylinders to Dying COVID Patients in… Source link

Yahoo Australia has launched a major marketing campaign for its search engine in an attempt to gain a greater share of the market which is heavily dominated by Google. The Yahoo Search for Change campaign, developed by CHE Proximity, plays into consumers’ privacy concerns and reminds them they have a choice with which search engine they can use. According to reports, Google more than 90% of the search engine market in Australia. The push comes a week after Verizon announced it is… Source link

Axios GOP senators hoping White House will counteroffer their infrastructure proposal Top Republican senators are hoping the White House will make some sort of counteroffer to their infrastructure proposal when they meet with President Biden on Thursday, lawmakers and their aides tell Axios.Why it matters: This is a sign of how serious the negotiations are, they say. In advance of the meeting, some of the senators are already publicly signaling the areas in which they have flexibility.Stay on… Source link

Bitcoin and ether seem to be more sensitive to a fickle global stock market. But that hasn’t affected aave and uniswap and other altcoins making huge upward swings, fueled by DeFi hype. Aave (AAVE) trading around $567 as of 21:00 UTC (4 p.m. ET). Gaining 27.7% over the previous 24 hours. Uniswap (UNI) trading around $40.69 as of 21:00 UTC (4 p.m. ET). Gaining 7.6% over the previous 24 hours. Ether (ETH) trading around $4,090 as of 21:00 UTC (4 p.m. ET). Gaining 0.33% over the previous 24… Source link

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) * U.S. consumer prices jump most since June 2009 * Megacap growth stocks weigh heaviest * Energy shares gain as crude climbs * Indexes down: Dow 1.99%, S&P 2.14%, Nasdaq 2.67% (Updates with closing prices) By Stephen Culp NEW YORK, May 12 (Reuters) – Wall Street closed lower on Wednesday with the S&P suffering its biggest one-day percentage drop since February, as inflation data fueled… Source link

The three-arrow Matter logo shown on this smart lightbulb signifies smart-home tech that will work well with other devices. Connectivity Standards Alliance;… Source link