Puerto Rico’s legislature may prove to be a roadblock to the debt restructuring deal for the island’s electric utility. Since early September about 90% of bondholders and insurers have signed on to support the Puerto Rico Electric Power Authority restructuring, according to the Puerto Rico Oversight Board. “At least the base case understanding of PREPA’s
Month: January 2020
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Ukraine’s financial watchdog intends to track crypto transactions exceeding $1,200, according to the head of the country’s Ministry of Finance, Oksana Makarova. For the first time, Ukrainian anti-money laundering law includes crypto as an asset to be monitored, among others. The threshold for triggering the scrutiny process is 30,000 Urkainian hryvnia (UAH), or $1,200. “If
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 10, 2020. Brendan McDermid | Reuters The Inside ETF conference is underway in Hollywood, Florida. 2,000 investment professionals have gathered to talk what’s hot, and what’s not, in investing in 2020. At a dinner last night with ETF
The Intel logo is displayed outside of the Intel headquarters in Santa Clara, Calif. Justin Sullivan | Getty Images Check out the companies making headlines in midday trading. Boeing — Boeing’s stock turned negative on the day after CNBC confirmed the aerospace giant is considering an added cut to the production of its 787 Dreamliner
Miami’s Hard Rock Stadium will host about 65,000 fans on Super Bowl Sunday. While the biggest battle in football will last just one evening, the fight that stadium faces from the effects of climate change will go on indefinitely. It is not alone. Teams and stadiums across country are dealing with flooding, extreme storms, excessive
Shannon Stapleton | Reuters Peloton Wedbush recently initiated coverage of the exercise equipment maker with an outperform rating and believes the sky’s the limit for the company. The firm called Peloton’s business an “enduring force” and is bullish on the company’s ability to hold and retain customers in its subscription business. “Today, this business is
VANCOUVER , Jan. 23, 2020 /CNW/ – LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(OTC:LLNKF)(FRA:C0B), a key player in digital freight and logistics platforms as well as payment solutions, is pleased to announce the full software-as-a-service (SaaS) Subscription Model of its 1SHIFT Logistics platform. This new SaaS model allows shippers, carriers, and fleets to seamlessly self-register and self-onboard
Four fiscally strained hospitals on Chicago’s South Side would join forces to form a new system under a proposal that calls for $1.1 billion in capital spending on new facilities before any existing facilities close. The announcement marks a twist in the ongoing consolidation of the not-for-profit healthcare sector. Big systems have swallowed up struggling
The World Economic Forum has created an international consortium to design a governance framework for cryptocurrencies, including stablecoins. Announced Friday, the consortium seeks to bring together financial institutions, government representatives, developers and other members of the global community to determine what sort of governance around cryptocurrencies can best further the goal of financial inclusion. Digital
The best Sundays are for long reads and deep conversations. Earlier this week, the Let’s Talk Bitcoin! Show gathered to discuss Lightning Network technology and two innovative approaches at the wallet level which simplify the new-user experience at a tangible, but seemingly minimal cost. Subscribe to the new CoinDesk Podcast Network for fresh, insightful episodes
On the surface, the growth story for exchange traded funds continues: The U.S. ETF business ended 2019 with $4.4 trillion in assets under management, a 30% increase from 2018, according to etf.com. The number of ETFs also increased 8%, to 2,302. Thanks to the continuing growth of two hot trends — environmental, social and governance,
A key interest rate is moving to levels last seen in the fall when markets were worried about the trade war, and that falling yield may be a warning signal. Investors have been buying bonds big time this week amid fears the coronavirus could spread and impact the global economy. Yields move opposite price, so
Changes are coming to credit scores. That may make it harder for some people to get a loan. FICO, developer of one of the most widely used scores by lenders, announced an update to its scoring algorithm, which will change how consumers’ debt levels are weighed. This latest iteration of the FICO score, available this
Mike Rasnic sits on the front porch of his home which is surrounded by floodwater on March 22, 2019 in Craig, Missouri. Scott Olson | Getty Images The risks of climate change are already impacting investors, with increasingly frequent climate disasters like wildfires, drought, flooding and heatwaves threatening business operations and properties across the world.
When the crypto market was still at its infancy around half a decade ago, derivative trading in crypto seemed like a distant dream. However, crypto exchanges like BitMEX have made it possible, and in a new development, the exchange announced significant changes to its crypto derivative offerings. The company announced that it is going to
With demand for municipal securities at an all-time high and cash continuing to flow into the market, one would think there would be more issuance. IHS Ipreo is estimating supply will come in at $5.53 billion, in a calendar composed of $4.41 billion of negotiated deals and $1.12 billion of competitive sales. There are 17
Independent Reserve, one of the largest cryptocurrency exchanges in Australia, is expanding to Singapore after an “overwhelmingly positive” response from the regulator. Adrian Przelozny, CEO and founder of the Sydney-based exchange, announced Friday it had expanded its trading services to users in Singapore, saying in a statement that his team “felt the time was right
Max Boonen is the founder and CEO of crypto trading firm B2C2. This post is the third in a series of three that looks at the structure of crypto markets. Opinions expressed within are his own and do not reflect those of CoinDesk. In the two previous articles, I summarized the evolution of speed in
Traders work after the opening bell at the New York Stock Exchange (NYSE) on August 5, 2019 in New York City. JOHANNES EISELE / AFP / Getty Images With stocks coming off their first losing week of the year, investors will be looking for the Federal Reserve to soothe markets by reaffirming its position that
Richard Sharrocks A case before the Supreme Court has the power dramatically reshape how the U.S. government polices financial fraud and other misdeeds against consumers — which many experts fear would weaken existing protections and expose the public to more harm. The case, which concerns the Consumer Financial Protection Bureau, could ultimately lead to the
American Express reported fourth-quarter results that beat analyst expectations, sending the stock higher as card fee revenues grew more than expected. The shares rose 2% in premarket trading Friday. Here’s how the payments company’s results compared to what Wall Street analysts expected: Earnings: $2.03 per share vs $2.01 per share forecast by Refinitiv Revenue: $11.365
Sales of Ripple’s XRP token fell a huge 80% to a record low in the fourth quarter of 2019, according to the latest market report published by the crypto firm earlier this week. The blockchain payments company sold a total of US$13.08 million of XRP tokens between October 1 and December 31 of last year,
Indiana plans to use $300 million in surplus money to pay for capital projects at its public universities instead of issuing debt as originally planned. Six colleges and universities will get money for building projects that were already in the state budget but had been earmarked for bond funding. Indiana Gov. Eric Holcomb asked lawmakers
In addition to our news roundup, for the next few episodes we’ll also be highlighting select interviews from the CoinDesk crew reporting inside the World Economic Forum in Davos, Switzerland. Today, we’ll hear from former Monero head “Fluffypony” and more from cypherpunk Harry Halpin. Listen or subscribe with your preferred service: Disclosure Read More The
DAVOS, Switzerland – Most Middle Eastern elites at the World Economic Forum are highly skeptical of bitcoin, but there are whispers about its potential for cross-border settlements in the energy sector. According to Egyptian businessman M. Shafik Gabr, chairman of the ARTOC Group for Investment & Development, some Middle Eastern nations are already exploring the
Pedestrians cover their faces with sanitary masks after the first cases of coronavirus have been confirmed in Hong Kong, China on January 23, 2020. Miguel Candela Poblacion | Anadolu Agency | Getty Images As China’s Wuhan virus spreads, it is expected to continue slamming Chinese and other financial markets, but economists say it may ultimately
Alex Reading, 29, and Abhi Sanka, 25 were complete strangers when they each toured a 5 bedroom home in Arlington, VA a little over a year ago. But they decided to move in together, along with three other complete strangers. All of them had answered ads to rent one room in the home and share
David Solomon, Goldman Sachs Adam Galica | CNBC Goldman Sachs CEO David Solomon told CNBC on Thursday that starting this year, his investment bank wouldn’t help companies go public without at least one “diverse” board member. “Starting on July 1st in the US and Europe, we’re not going to take a company public unless there’s
It seems like the banking industry is slowly adopting cryptocurrencies. A group of central banks has come together to assess the potential pitfalls of relying on digital currency, and one of them is the Bank of England. Central Banks Considering Idea of a Central Bank Digital Currency The Bank of England is examining how it
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