Thursday, January 20

Business

Business

Market bull Tom Lee predicts a record September, but warns that a 10% correction could come in October – CNBC
Business

Market bull Tom Lee predicts a record September, but warns that a 10% correction could come in October – CNBC

Longtime market bull Tom Lee is predicting a profitable period for investors in September.According to Lee, the S&P 500 is positioned to surge more than 100 points this month. However, he warns the positive momentum has an expiration date."We could have a really strong rally in September," the Fundstrat Global Advisors' co-founder and head of research told CNBC's "Trading Nation" on Friday. "We didn't think there was a window for a 10% correction for most of 2021. The window where we think you could start to have potentially a 10% pullback is October."Lee attributes the vulnerability to growing fiscal and monetary policy risks — as well as uncertainty surrounding the pandemic and flu season."We get that much closer to tapering," the CNBC contributor said. "That's really when the debt c...
ProtonMail court order leads to the arrest of French climate activist – The Verge
Business

ProtonMail court order leads to the arrest of French climate activist – The Verge

The private email service Protonmail is drawing harsh criticism from its users after providing IP information linked to a French activist who used the service, as first reported by TechCrunch. The data was requested as part of a broader investigation into a group of climate activists who have occupied a number of apartments and commercial spaces in Paris. While the members of the group are anonymous, one had used the address “jmm18@protonmail.com” in online postings. As a result, French police sought to identify any persons linked to the account. “The prosecution in this particular case was very aggressive” Because ProtonMail is based in Switzerland, it is not subject to French or EU requests. But the company is still subject to requests from Swiss courts, where French police where able...
El Salvador Starts Mass Buying Bitcoin Ahead of BTC Becoming Legal Tender Tomorrow – News Bitcoin News – Bitcoin News
Business

El Salvador Starts Mass Buying Bitcoin Ahead of BTC Becoming Legal Tender Tomorrow – News Bitcoin News – Bitcoin News

Bitcoin will become legal tender in El Salvador on Tuesday, Sept. 7. The Salvadoran government has started buying bitcoin ahead of the law taking effect. The first 200 coins have been purchased and “a lot more” are coming, said President Nayib Bukele. El Salvador Begins Mass Buying Bitcoin Ahead of Bitcoin Becoming Legal Tender El Salvador’s President, Nayib Bukele, announced Monday: “El Salvador has just bought its first 200 coins. Our brokers will be buying a lot more as the deadline approaches.” At the current BTC price of $51,691, the 200 bitcoins are worth about $10.34 million. Bukele also tweeted, “Tomorrow, for the first time in history, all the eyes of the world will be on El Salvador.” The country’s Bitcoin Law, passed in June, will enter into force on Tuesday, Sept. 7. It will...
Elizabeth Warren says crypto services are spinning straw into gold – Markets Insider
Business

Elizabeth Warren says crypto services are spinning straw into gold – Markets Insider

Graeme Jennings-Pool/Getty Images Cryptocurrency services are "spinning straw into gold," Sen. Elizabeth Warren told the New York Times. They provide many of the same services as shadow banks, but without consumer protections, the Massachusetts Democrat said. Warren raised the idea of banning US banks from holding cash deposits backing up stablecoins. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Sen. Elizabeth Warren told the New York Times that cryptocurrency services are "spinning straw into gold," as she criticized the way they operate outside financial industry rules."Crypto is the new shadow bank," she said, cited in a report published Sunday. "It provides many of the same services, but without the consumer protections or financial stability that ba...
China to push on with opening capital markets to foreign investors – Reuters
Business

China to push on with opening capital markets to foreign investors – Reuters

A Chinese national flag flutters outside the China Securities Regulatory Commission (CSRC) building on the Financial Street in Beijing, China July 9, 2021. REUTERS/Tingshu Wang/File PhotoBEIJING, Sept 6 (Reuters) - China will further open its capital markets to foreign investors, the country's top securities regulator said on Monday, adding that it will pursue pragmatic cross-border cooperation to regulate overseas-listed Chinese companies.Global investors have been spooked in recent months by a flurry of Chinese regulations targeting sectors ranging from technology to private tutoring. U.S. plans to kick non-compliant Chinese firms off American exchanges has fuelled concern."Opening-up and cooperation is the inevitable trend in the integrated development of global capital markets," China ...
All the best Labor Day sales to shop this weekend – CNN
Business

All the best Labor Day sales to shop this weekend – CNN

CNN —   The unofficial end of summer is upon us. Labor Day has arrived, and hundreds of retailers are celebrating with sales and deals on products across categories. And because you probably don’t want to spend your extra weekend day scouring the internet for savings, CNN Underscored has done the heavy lifting for you. See below for a roundup of the best Labor Day sales to shop right now. Look out for plenty of solid discounts on items for the home, including mattresses, furniture and appliances. And even though the winter holidays tend to be the best time to buy new electronics, we’re still seeing plenty of deals on TVs and laptops, not to mention lots of markdowns on clothing to update your closet, including end-of...
How El Salvador Will Benefit From Adopting Bitcoin – Bitcoin Magazine
Business

How El Salvador Will Benefit From Adopting Bitcoin – Bitcoin Magazine

Tomorrow, history will be made as El Salvador becomes the first country in the world to adopt bitcoin as legal tender. In a move of empowerment, the small Central American government will take a leap of courage to strengthen its economy and democratize financial sovereignty to its people.Access to the traditional banking system is limited in El Salvador as over 70% of the population doesn't have a bank account. But starting tomorrow, millions of Salvadorans will be able to legally use bitcoin for storing and transacting value, cutting down some hurdles and increasing access to financial services.Unlike the permissioned banking system, which determines who can join and under what terms, Bitcoin is government-agnostic and permissionless. Anyone on Earth can use a mobile device with an intern...
Great Wall Motors to launch compact BEV and PHEV SUV in Europe in 2022 – Electrek.co
Business

Great Wall Motors to launch compact BEV and PHEV SUV in Europe in 2022 – Electrek.co

Great Wall Motors has announced it will be next Chinese automaker to test out the market in Europe by launching an all-electric compact and plug-in hybrid EV (PHEV) SUV in 2022. The company shared the news at IAA Mobility in Munich today alongside plans to debut the EVs under its WEY brand and existing ORA marque, both under the Great Wall Umbrella. Great Wall Motors is a Chinese automaker with nearly 40 years of automotive experience in its home country, in addition to other markets like India and Russia. As you may have guessed, the brand gets its name from the Great Wall of China and remains one of the largest manufacturers of SUVs and pickups in the country. As part of its global presence, Great Wall Motors already has entered certain markets of Europe, including Romani...
States with the highest Labor Day gas prices – Fox Business
Business

States with the highest Labor Day gas prices – Fox Business

Check out what's clicking on FoxBusiness.com. The national average price for a gallon of gasoline has hovered around $3.18 for the last four days, according to AAA. This marks the most expensive Labor Day weekend for gas prices since 2014, although some areas will hit consumers' wallets harder than others.  CLICK HERE TO READ MORE ON FOX BUSINESSCalifornia is home to the most expensive gas at about $4.39 per gallon. Hawaii and Nevada are also among the most expensive in the nation, with prices in each state totaling more than $4 per gallon, a AAA spokesperson told FOX Business, referring to regular-grade gasoline. Gasoline prices are displayed at a Chevron station in Sacramento, Calif., in 2017.  (AP Photo/Rich Pedroncelli, File / AP Newsroom)Even before the holiday kicked off, AAA...
Woman Claims She Got Kicked Off Flight for Her Outfit, Alleges Weight Discrimination – TMZ
Business

Woman Claims She Got Kicked Off Flight for Her Outfit, Alleges Weight Discrimination – TMZ

A woman who seemingly got kicked off a flight for wearing a revealing outfit believes she was also harassed and discriminated against because of her weight ... and possibly other aspects of her appearance. Ray Lin Howard shared a video on TikTok of the apparent aftermath of getting booted from her Alaska Airlines flight Friday, in which police are questioning her about what went down. Waiting for your permission to load TikTok Post. She tells the cops she was wearing a sports bra -- she shows them too -- and was told by the flight attendants to cover up ... so she says she did with a pink leopard print shirt. According...