About $25bn was wiped off the market value of Kweichow Moutai, the high-flying Chinese spirit maker, after a state media unit devoted to promoting information on President Xi Jinping accused the company of reaping the benefits of corruption. Shares in Moutai, the favoured firewater of former Chinese leader Mao Zedong, had risen precipitously since February,
The European Central Bank has left its monetary policy on hold and committed to keep buying trillions of euros in bonds until it judges the economic crisis caused by the coronavirus pandemic to be over. The decision by the ECB governing council on Thursday means that the central bank has hit pause after four months
Wells Fargo’s chief has set his sights on the bank’s costs. Charlie Scharf, who took over as chief executive officer late last year, said he will start cutting expenses in the second half of this year and aims to eventually trim at least $10 billion of costs. The company has too many management layers, and
A new trojan attack using malware called GMERA is targeting cryptocurrency traders who use trading applications on Apple’s macOS. The internet security company ESET found that the malware comes integrated into legitimate-looking cryptocurrency trading applications and tries to steal users’ crypto funds from their wallets. Researchers at another cybersecurity firm Trend Micro first discovered GMERA
Aaron Galvin is the CEO & Founder of Luxury Living Chicago Realty, a multifamily consulting, marketing, branding and strategy brokerage. Getty Apartment hunting as we know it has changed. As the owner of a brokerage firm specializing in apartment leasing, I have seen the current pandemic dramatically shift how apartments are being marketed and leased. And
700,000 Expedia Hotels Can Now Be Paid With Cryptocurrencies via Travala More than 700,000 Expedia Group hotels and accommodations are now available via crypto-friendly travel booking platform Travala. Bookings can be paid with more than 30 cryptocurrencies, including bitcoin. Despite covid-19, Travala saw a 170% increase in booking revenue from its … read more. Bitcoin.com
By Cristina Rouvalis, Next Avenue Contributor Mary Ellen and Mark Meyer are drinking up strong sales at their Wigle Distillery Courtesy of Mark and Mary Ellen Meyer Running a small business can be daunting in the best of times. Throw in a pandemic and it can be devastating. But some older entrepreneurs are thriving during Covid-19
Gold price consolidates close to nine-year highs as investors waiting for a catalyst that will drive the price. Risk-on sentiment drove the stock markets close to monthly highs yesterday on news of positive results from the initial trial stage of the Moderna’s coronavirus vaccine but had little impact on the gold price as the new
All the criminal banks are preparing for the Mother of All Crashes in September!! What aren’t “THEY” telling us?! by Bix Weir of Road to Roota All the criminal banks are LOADING UP on their Loss Reserves preparing for the Mother of All Crashes in September!! What aren’t “THEY” telling us?! [embedded content]
HDR Global Trading, parent company of derivatives trading platform BitMEX, has undergone a perhaps controversial rebranding. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests
China will trial its digital yuan with a mega food retailer, U.S. bills are seriously threatening online privacy and an a16z alum is launching a venture firm focused on distributed tech. Here’s the story: Trial PlanChina wants to trial its digital yuan with online food seller Meituan-Dianping as well as another two Tencent-backed companies. The Beijing-based company has held
The Bahamas’ central bank said Sunday that it is “progressing” toward the full launch of a mobile phone-based digital currency (CBDC) that it’s betting can withstand the battering of a Category 5 hurricane. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
Hackers pumping a crypto giveaway scam appear to have compromised the Twitter accounts of leading exchanges, individuals and at least one news org. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating
Switzerland’s licensed crypto-first bank SEBA and Corda-based Digital Asset Shared Ledger (DASL) announced a new partnership on Wednesday letting the bank offer asset securitization services on Corda’s public network. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial
Twitter melted down Wednesday as the accounts of former President Barack Obama, presidential candidate and former Vice President Joe Biden, Kanye West, Elon Musk, prominent crypto Twitter figures, exchanges and others with verified accounts were hacked. Here’s a growing list of the victims: This is a developing story. Disclosure The leader in blockchain news, CoinDesk
Facebook Inc. (FB) has boosted production on its Oculus virtual reality (VR) headset to nearly double the production compared to last year. According to a July 15 report from Nikkei Asian Review, the social media site has reacted to the uptick in COVID-19 cases throughout the world by calling for a production increase in the
The Norwegian Cruise Line Norwegian Bliss cruise ship passes through John Hopkins Inlet in Glacier Bay, Alaska, July 11, 2019. Tim Rue | Bloomberg | Getty Images Check out the companies making headlines after the bell: Moderna — Shares of Moderna whipsawed in extended trading after rising nearly 7% earlier Wednesday. The stock has been on
Attractive low yields enticed issuers into the market on Wednesday as retail investor confidence remained elevated. Municipal bond funds saw inflows of $1.8 billion, according to the Investment Company Institute, the 10th straight week that investors ploughed cash into mutual funds. Municipals were steady Wednesday as several billion dollar deals hit the screens. “The level
The Standard and Poor’s 500 index (S&P 500) is an index of 500 companies and a leading indicator of the performance of large cap U.S. stocks. The index serves as a benchmark by which many investment professionals measure the success of their strategies. The S&P 500 also serves as a barometer of the health of
China’s economy returned to growth in the second quarter, in one of the world’s earliest signs of recovery from the fallout of the coronavirus pandemic. Gross domestic product grew 3.2 per cent in the three months to the end of June, compared with the same period last year, exceeding forecasts. The figures follow the first
India records more rural cases as total approaches 1m Amy Kazmin in New Delhi India detected a record 32,682 new coronavirus infections on Wednesday, bringing it ever closer to the grim milestone of 1m confirmed infections. The country also recorded an additional 614 coronavirus deaths, bringing the total number of fatalities from the pandemic in
A tag hangs from a Steelcase London Ltd. desk chair in the former offices of Duff Capital Advisors LP in Greenwich, Connecticut. Daniel Acker | Bloomberg | Getty Images With nearly half of the S&P 500 declining to provide earnings guidance, simple verbal commentary from a CEO or CFO —whether in a quarterly earnings press
As competing financial wealth management technology platforms expand their product offerings or get acquired by financial institutions, Riskalyze is adding a new board member to deepen connections with one of its closest partners. Brian McLaughlin, CEO of Redtail, a client relationship management software tailored to financial advisors, is joining the board of directors at Riskalyze,
Leading DeFi protocol Aave has raised $3 million from Framework Ventures and Three Arrows Capital. The investment firms purchased $3 million of Aave’s native token LEND at $0.10 per token, a stake which is now worth around $7 million. Both firms will take an active role in growing the Aave ecosystem via staking and governance
Economic uncertainty and lockdown measures have prompted 22 million Americans to delay buying a home … [+] during the pandemic. Getty Despite the housing market continuing to heat up as economies reopen, the recession driven by the coronavirus pandemic has upended the plans for many first-time buyers eager to invest in a new home. A
Nearly four months after banks and federal agencies started offering a number of assistance programs aimed at giving Americans a break on their mortgages, about 4.1 million homeowners remain in forbearance plans. But that number is starting to shrink as more workers are called back to work, says Mike Fratantoni, chief economist for the Mortgage
A massive attack hit crypto Twitter on Wednesday as many prominent accounts began tweeting about a bitcoin giveaway. Soon it was apparent that the breach was much more serious when major corporations and famous people tweeted that they will double your bitcoin, including Apple, Google, Joe Biden, Elon Musk, Bill Gates, Jeff Bezos, Kanye West,
By Ken Dychtwald and Robert Morison, Authors and Next Avenue Contributors Getty (In their new book, What Retirees Want: A Holistic View of Life’s Third Age, authors Ken Dychtwald — a Next Avenue Influencer in Aging — and Robert Morison explore marketers’ misconceptions and mistakes regarding older Americans. The book is based on surveys of
After Cardinal Resources started assessing a bid from Shandong Gold Mining, Nord Gold SE launched an unconditional on‐market takeover offer for Cardinal at $0.66 cash per share. Cardinal said Nord Gold’s bid “…will need to be considered in detail by the board, together with the special purpose committee and its financial and legal advisers. Cardinal
Or perhaps it would be more appropriate to describe his attitude as being one of chronic hypocrisy… by Brian Cloughley via Strategic Culture Foundation In the past year there have been protests in Hong Kong that were aimed locally and at the Beijing government. There were two deaths: one of a student who fell from a high-rise