The president of the European Central Bank (ECB), Christine Lagarde, says cryptos are not currencies, adding that they are “highly speculative, suspicious occasionally, and high intensity in terms of energy consumption.” She also discussed the need for stablecoin regulation and central bank digital currencies (CBDCs). Lagarde: ‘Cryptos Are Not Currencies. Full Stop’ ECB President Christine
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Puerto Rico’s local government revoked a law the Oversight Board has been considering using to issue restructured bonds without the local government’s support. Puerto Rico Gov. Pedro Pierluisi signed Project 959 on Thursday, revoking the 1942 law, which had been used over the years to justify bond refundings. Puerto Rico Gov. Pedro Pierluisi and the
Recent Proposal The House Democrats are proposing a $3.5 trillion spending plan. To support that package the Democrats have proposed tax increases to fund a large portion of that plan. The House Ways and Means Committee just issued statutory language for the tax increase proposal. While the tax legislative process will no doubt evolve with
Wall Street fell on Thursday after getting a fleeting boost from a stronger-than-expected report on retail sales that suggested consumer spending held up despite concerns over the Delta variant. John Lynch, Comerica Wealth Management CIO and Mark Luschini, Janney Montgomery Scott Chief Investment Strategist joined Yahoo Finance Live to discuss. Video Transcript SEANA SMITH: Got
They’re about to do bail-in regimes and they’re draining people of their savings. Regulations are piling up and so are… by Josh Sigurdson via World Alternative Media Josh Sigurdson reports on the crazy news regarding the mass subsidization of restaurants and businesses in New York as bankruptcy runs rampant due to lockdowns, mandates and loss
As COVID-19 testing markedly expands under President Biden’s recently announced six-point national strategy, people who use at-home tests may be able to have their out-of-pocket costs covered in full. Key Takeaways The costs of home COVID-19 tests are eligible medical expenses, the IRS says, making them reimbursable under FSAs or HSAs and tax-deductible for some
Thailand aims to lure up to 1m wealthy residents and cash in on remote-working professionals uprooted by Covid-19 by offering long-term visas to foreigners who invest $250,000-$500,000 in property or government bonds. The visa scheme, unveiled by Prayuth Chan-ocha’s cabinet this week and subject to legal changes, will target “affluent global citizens”, wealthy pensioners, digital
The contest to replace Yoshihide Suga as Japan’s prime minister kicks off on Friday with a four-way battle between a US-educated champion of deregulation, a sceptic of neoliberal policies and two outspoken female politicians seeking to become the first woman to take the top job. With the Covid-19 crisis leaving the ruling Liberal Democratic party
Fidelity Investments urged the SEC to approve its Bitcoin ETF in a private meeting, listing the virtues of an idea that the regulator has been slow to embrace. Executives including Tom Jessop, president of Fidelity Digital Assets, met with SEC officials in a Sept. 8 video call, filings show. They laid out reasons why the
Every investor wants a sure return – that’s the way to make money in the markets, after all. With the main indexes all showing strong gains for the year (19% on the S&P 500, and 18% on the NASDAQ), those returns are clearly on the table. But there are some shorter-term downward moves, and plenty
Interoperability has become one of the driving themes within the crypto market and as the blockchain ecosystem evolves into an interconnected web of layer-one protocols, the importance of communication and efficiency among decentralized applications (dApps) will also increase. Ren (REN), a blockchain protocol designed to provide interoperability and liquidity between different blockchain platforms, has started
Having left their hearts in San Francisco during the depths of Covid, people are returning to the City by the Bay. Lots of them have been drawn by the rebounding sense of normalcy afforded by the city’s comparatively high rates of inoculation. Many have also been lured by a renewed focus on what might be
Christy Gentry and her husband have been dealing with California’s wildfires for the past four years. In 2017, the couple evacuated their Santa Rosa home for three weeks. In 2019, they were forced to cut a trip to Hawaii short and get their animals and stuff out of their house as a fire approached. “It
Cryptocurrency exchange Coinbase has filed an application with the National Futures Association (NFA) to offer futures and derivatives trading on its platform. The exchange says its new offerings aim to “Further grow the cryptoeconomy.” Coinbase Registers to Offer Crypto Futures and Derivatives Trading Coinbase Global Inc. (Nasdaq: COIN) announced Wednesday via Twitter that it has
Work has changed. Not just for workers on factory floors and warehouses finding their new colleague may be a robot, but also for those working in downtown glass high rises. Ethan, a senior partner in his firm, shakes his head in disbelief. He says, “When I graduated nearly 40 years ago and began interviewing for
A battle between the haves and the have-mores may split up a well-off California school district. The 70-year-old district that serves Santa Monica and Malibu is contemplating breaking up along city borders. Or more precisely, the even-richer city of Malibu wants to split its schools from those in its more urban neighbor. If they continue
Silver price continues to fluctuate around the broken neckline of the head and shoulders’ pattern, and the EMA50 forms continuous negative pressure against the price, to continue suggesting the bearish trend that depends on the price stability below 23.95, reminding you that we are waiting to visit 22.90 as a next main target. The expected
A monetary metal does not work like a heavily-shorted stock… by Keith Weiner of Monetary-Metals This time, we start with the gold-silver ratio. Let’s revisit something we said on 23 August: “…the supply and demand fundamentals of silver are stronger here than they have been since the Covid crisis. … physical silver is scarcer than gold.”
Microsoft Corporation’s (MSFT) board has approved a $60 billion stock repurchase program, according to reports. The company also raised its quarterly dividend to 62 cents from the earlier 56 cents. The dividend will be paid out on Dec. 9 to persons who held Microsoft shares as of Nov. 18. The share repurchase program does not
The Federal Reserve said on Thursday it was reviewing its ethics guidelines for how senior officials can participate in financial markets, after conflict-of-interest questions were raised over the investment activities of two regional presidents. Fed chair Jay Powell ordered the review late last week following reports that Robert Kaplan, president of the Dallas Fed, and
This month the thorny topic of debt is creeping back, belatedly, on to the political radar in Washington. Last week Janet Yellen, Treasury secretary, warned that the US government will run out of money in October unless Congress raises the debt ceiling (or borrowing limit). Meanwhile the Biden administration is facing opposition as it seeks
Traders on the floor of the New York Stock Exchange. Source: NYSE The land mines for the markets are becoming more numerous. Seasonal weakness is combining with continuing uncertainty over the impact of the delta variant on consumer behavior, high labor and material costs affecting pricing and delivery of goods, and poor data out of
MML Investor Services, the broker-dealer and RIA owned by insurer MassMutual, will pay $4 million and overhaul its social media practices after allegedly failing to supervise the online activities of Keith Gill, a former agent who, under the names “Roaring Kitty” and “DeepF***ingValue,” was a prominent leader of the so-called meme stock frenzy earlier this
Investment banking company Piper Sandler (PIPR) recently reiterated its Overweight rating on cryptocurrency exchange platform Coinbase (COIN) Piper Sandler also suggested that now was a good time to buy the recent dip on the company. I’m only slightly less bullish on Coinbase than Piper Sandler is. Coinbase stock is well off its high of $429.54,
In this article LVS WYNN BYND FSR DASH CSCO Check out the companies making headlines before the bell: Beyond Meat (BYND) — Shares of the alternative-meat maker dipped 2.4% in premarket trading after Piper Sandler downgraded the company to an underweight rating. “Beyond is an early leader in plant-based meat, but we believe its current
Sharing is Caring! Yesterday I explained how the official inflation statistic used by policymakers, the Consumer Price Index or CPI, is practically useless. I realize this is quite controversial. After all, everyone on the planet from hedge fund managers to social security administrators uses this data point as THE inflation measure. Unfortunately for them, CPI is
The European Securities and Markets Authority (ESMA) has published its report on trends, risks and vulnerabilities in the European Union markets during the first half of 2021 (1H21). Its takeaways included the argument that crypto markets’ extraordinary volatility and growth make a compelling case for the need for a targeted regulatory regime, as sketched out
A modernist masterpiece designed by Studio William Hefner is coming to market in Beverly Hills for $38 million. The property is located on Chalette Drive, one of the most exclusive streets in the Trousdale section of Beverly Hills, and is surrounded by expansive views extending from the city to the ocean. Hedges and gates conceal
While Africa is seen as one of the smallest cryptocurrency markets, according to a preview of Chainalysis’ Geography of Cryptocurrency annual report, this region has “some of the highest grassroots adoptions in the world.” African Volumes Mainly Composed of Retail Transfers The crypto adoption observation for Africa is corroborated by the blockchain analysis firm’s latest
Potential homebuyers exit an open house in Redondo Beach, California. Patrick T. Fallon | Bloomberg | Getty Images Fall is usually the start of the slower season for the housing market, but nothing is usual in today’s pandemic-driven housing market. Potential homebuyers are seeing a slight rise in inventory and consequently rushing back into the