For years, China has toyed with the idea of a property tax, but at least one developer doesn’t think now’s the right time. Zhang Xin, chief executive of real estate developer Soho China, said on Saturday that the country’s economy is too “soft” for such a tax. “In today’s market, when the economy is so
Month: March 2019
View Bitcoin created a doji candle yesterday, signaling buyer exhaustion near the crucial 21-week moving average (MA) resistance at $4,073. As a result, a price pullback could be in the offing in the next 24 hours. A break below $3,930 (flag support on 4-hour chart) would further strengthen the case for a pullback and expose
It’s feast after famine as municipal bond buyers will see a hefty new issue slate head their way next week. Next week’s deals will be pricing into an uncertain market environment, albeit one that may benefit issuers more than investors. On Friday, the Treasury yield curve inverted for the first time since 2007, triggering the
People don’t necessarily give to charity because of tax benefits, but it doesn’t hurt. However, the new tax law, among other things, has eliminated or sharply reduced the benefits of charitable giving for many would-be donors. Even though the deduction for donations is unchanged, you still need to itemize to claim it, and that’s a
Chicago-based cryptocurrency exchange Seed CX, which Bain Capital backed last year, is expanding to Asia. The institution-focused exchange announced Thursday that it has teamed up with Singapore-based trading infrastructure technology provider Hydra X for the effort. The partnership will allow Seed CX to integrate its platform with Hydra X’s trading platform Sigma, which is currently
So much for the rally. On Thursday, the S&P 500 got within 2.4 percent of its historic high only to tumble on Friday. We got mugged by slower global growth again. Remember the bull narrative: The Fed and the central banks have our back, the tariffs are going to go away, the Chinese are going
Check out the companies making headlines midday Friday: Tiffany — Shares of Tiffany rose 3.41 percent after the jewelry retailer reported mixed fourth-quarter results. The retailer reported earnings of $1.67, 7 cents higher than expected, and revenues of $1.321 billion, missing estimates by $11 million. Tiffany also reported a 1 percent drop in worldwide sales,
Cryptocurrency received an endorsement from Chicago Mayor Rahm Emanuel when he stated that wide-scale crypto adoption is “inevitable” at a FinTech meeting in his city earlier this week. The chief of staff for former US President Barack Obama said that while he is no expert in crypto technology, he believes digital assets could help financially unstable countries with
The Kin technology will first roll out in the Jackson Park rental complex in Long Island City. Jackson Park Relief could be on the way for urban families struggling with the high cost of childcare. Kin, a residential brand formed through a new partnership between real estate developer Tishman Speyer and the co-living company Common,
The average rate on the 30-year fixed mortgage is falling again today, as investors rush into the bond market. Mortgage rates loosely follow the yield on the 10-year Treasury. The average lender is offering a rate between 4.125 and 4.25 percent, with more aggressive lenders going to 3.875 percent for borrowers with pristine applications, according
View Bitcoin failed to capitalize on a bull breakout above $4,040 yesterday, but the short-term outlook remains bullish as the higher-lows pattern is still intact. A convincing break above the three-day chart resistance of $4,040 still looks likely and could be followed by a rally toward the recent high of $4,190. The immediate outlook would
California State Controller Betty Yee warned legislative budget committees that her office may miss the April 1 deadline for releasing its comprehensive annual financial report. Yee cited problems the controller’s office has encountered in moving her office’s financial systems onto the state’s electronic Financial Information System for California, commonly referred to as FI$CAL. The March
The bond market is edging closer to signaling a recession, but don’t panic yet, stocks could have a lot more to run even if the feared “yield curve” inverts, history shows. The yield on the 3-month Treasury bill and the 10-year note went into negative territory on Friday, the first time since 2007. The more
Overstock’s security token platform tZERO is going full crypto. Until now, security tokens had been the startup’s priority, but this summer, tZERO plans to launch its own mobile trading app for buying and selling bitcoin and, possibly, ether, CEO Saum Noursalehi told CoinDesk Thursday. The app for IOS and Android devices is scheduled to launch
After months of waiting, the 2019 IPO pipeline will finally open on Thursday with Levi Strauss. It is a perfect moment for the long-stalled IPO market. Investors are salivating at the ocean of well-known names seeking to go public: The IPO market has continued to rebound since February, and the Renaissance Capital IPO ETF (IPO)
Check out the companies making headlines after the bell: Shares of Nike dropped more than 3 percent in extending trading Thursday following the release of the retailers better-than-expected third-quarter earnings results. Nike posted earnings per share of 68 cents, beating estimates of 65 cents, according to Refinitiv. Revenue came in-line with Wall Street’s expectations at
Coinbase has released two large announcements regarding features on some of its platforms in the last 24 hours. The San Fransico-based cryptocurrency exchange made a large upgrade to its Coinbase wallet, and it also announced that Coinbase Custody is directly integrated with its OTC trading desk. The new Coinbase upgrades should have crypto enthusiasts thrilled.
Filipinos are beginning to see the ugly side of the Chinese investments: a large influx of Chinese workers, rising property values, and fears that Philippines could turn into another Sri Lanka. That’s according to several stories that circulated the Asian media since President Duterte opened up the Philippines economy to China. These stories come at
Mortgage rates fell quickly after the Fed’s announcement Wednesday that it would be getting back into the bond-buying business, big time – which could take rates even lower. The average rate on the popular 30-year fixed, which had been sitting for days at 4.40 percent, fell sharply to 4.34 percent, according to Mortgage News Daily.
Twitter and Square founder Jack Dorsey has always been bullish in his Bitcoin views. So it’s no surprise that his payments startup Square is now offering new employees the chance to be paid in Bitcoin. According to tweets from the CEO, the company is on the hunt for skilled labor to add to the team.
View Bitcoin’s drop from a record high of $20,000 clocked in December 2017 has ended up creating a falling channel similar to the one created in the 18 months leading up to the long-term bullish reversal seen in October 2015. If the same sequence of events unfolds, BTC could see a channel breakout later this
Good timing and strong retail participation set the stage for a strong reception of Indianapolis and Marion County’s $623 million of tax-exempt bonds. The consolidated city-county government priced the deal Thursday after a retail order period Wednesday. It consists of $610 million of bonds for the long-anticipated justice center project, plus roughly $13 million of
Federal Reserve Chairman Jerome Powell changed course and finally made the correct policy decision by indicating the Fed is stalling interest rate increases for the year, CNBC’s Jim Cramer said Thursday. “I thought that Jay was great [Wednesday],” Cramer told “Squawk Box,” referring to Powell’s news conference at the conclusion of the central bank’s two-day
Cryptopia, the cryptocurrency exchange hit by a major hack in mid-January, has just announced that it’s restarted trading services. The New Zealand-based exchange posted a notice on Twitter Wednesday, saying: “We have resumed trading on 40 trade pairs that we have quantified as secure. We will continue to expand this list as we clear more
CEOs are again warning about slower global growth, particularly in Europe and China, and the question is whether this means the stock market is headed for another December-like tumble. Not so fast. Earnings may not be as bad as many fear. Sure, it seems bad now that executives from several big companies — Federal Express,
Check out the companies making headlines after the bell: Shares of Micron rose slightly in extended trading Wednesday following the release of the company’s better-than-expected second-quarter earnings. Beating on the top and bottom line, the chipmaker reported earnings per share of $1.71 on revenue of $5.84 billion. Wall Street had estimated earnings per share of
Security token platform, Polymath, has reportedly partnered with digital securities fundraising platform, seriesOne, to give customers “end-to-end” solution for security token issuance. Polymath and SeriesOne Partnership The news was first announced by seriesOne yesterday via a press release. The company said the new product will allow issuers to create and manage security tokens that are
Deposit Photos Introduction The machine workforce is on the rise. While technological innovation has always happened, existing and emerging technology is not only changing the pace of technological innovation exponentially, it is giving rise to an entirely new competitive workforce that is intelligent. As a result, it is not only the current models of business,
Hong Kong will spend around $80 billion to build one of the world’s biggest artificial islands. Secretary for Development Michael Wong said in a speech Tuesday that around 1,000 hectares of land would be constructed to deal with Hong Kong’s “serious shortage of land supply.” The project’s total cost will be around 624 billion Hong
View Bitcoin could rise to recent highs near $4,200 in the short-term if prices validate the bullish outside reversal or “engulfing” candle created in the three days to March 16 with a convincing break above $4,040 (high of the engulfing candle). Any spike to $4,200, however, would likely be short-lived as long as the 21-week
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