Bitcoin acceptance by mainstream institutions continues to gather momentum as Morgan Stanley became the first banking institution to accept digital currency as an emerging asset class. The move by the financial institution positions it in a tight spot with other banking institutions expected to follow. Morgan Stanley to launch three crypto funds In a statement,
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The US SEC moved to strike Ripple’s defenses following its suit in December, accusing the blockchain giant and its executives of selling unregistered securities. However, Ripple has responded to the motion to strike its pivotal “fair notice” defenses, labeling it as “meritless.” Ripple says SEC’s motion to strike is meritless In a letter to Federal
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Judging by the capital flow into US Exchange-traded funds (ETFs), there is an indication that investors favor emerging-market stocks compared to other assets including, US equities. In the last five days through Thursday, the largest ETF acquiring emerging-market shares saw more cash inflows relative to any of the over 2,400 other funds in exchanges. This
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After a sell-off last week that pushed borrowing costs higher, US bonds have steadied as European markets ticked up. Investors are now looking forward to the important Federal Reserve meeting expected later this week. Federal meeting to define where yield will trade Interestingly, the benchmark ten-year Treasury yield, which is moving in the opposite direction
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Transaction volume in the South Korean cryptocurrency markets exceeded the stock market’s daily average transaction volume, as BTC rose to a new all-time high of $61,000. Crypto market volume surges on BTC price rise to $61,000 CoinMarketCap data showed that the combined 24-hour volume to top south Korea-based digital currency exchanges Bithumb, UPbit, Korbit, and
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According to sources, a $630 million deal that would have reshaped the American newspaper industry has experienced complications barely a month after reaching an agreement. Following the complications, New York hedge fund Alden Global Capital could have a deal with a new player for the Tribune Publishing business. Agreement between Alden and Tribune publishing falls
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In recent weeks global equity markets have wobbled as bond yields increases driven by consumption spending resumption and optimism of the COVID-19 vaccination rollout. With the business cycle improving, JPMorgan bank is expecting cyclical stocks to lead the market higher in the near- and long-term. Investors considering cyclical stocks currently The bank’s Asia ex-Japan equity
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Verizon Communications Inc. (NYSE:VZ) has paid $8.2 billion to the US Treasury, and it plans to go to the debt market to get the remaining $36 billion finances due this month for 5G airwaves that the company needs to expedite growth. Verizon looking for finances to expedite 5G deployment Math Ellis, the company’s CFO, said
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Recently India indicated that it will ban crypto in the country, but that could change following Finance Minister Nirmala Sitharaman’s comments that the government is considering a calibrated approach towards crypto regulation. Crypto players represented by the Internet and Mobile Association of India (IAMAI) have welcomed the Minister’s comments. IAMAI says the crypto sector employs
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With demand for consumer goods, logistics spaces, and e-commerce increasing in recent months, Forney in Kaufman County has been attracting distribution and warehouse projects. The latest company making a move in Forney is VanTrust Real Estate LLC which is planning a major industrial development project in the community. VanTrust building a distribution center in Forney
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On Monday, US markets and stock ETFs diverged as economically sensitive sectors left the once high-flying tech stocks in the dust. SPDR Dow Jones Industrial Average ETF (NYSEAMERICAN:DIA) was up 2%, Invesco QQQ Trust (NASDAQ:QQQ) dropped 1%, while iShares Core S&P 500 ETF (NYSEAMERICAN:IVV) jumped 0.9%. High-growth tech stocks pull back amid inflation fears The
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There have been growing concerns gripping markets as Treasury yields keep rising, but, for US companies, it is clear that the right time to borrow is now. This comes as inflation fears continue to increase despite the economy seemingly stabilizing. Companies fear they might miss on borrowing window The rise in long-end rates to the
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Last week Elon Musk saw his net worth plunge after stock markets took a hammering, with Tesla Inc. (NASDAQ:TSLA) stock’s recent surge quickly unraveling. Rising bond yield leading to massive selloffs Currently, there is growing concern among Wall Street investors regarding the rising bond yields that could potentially make borrowing expensive. This could potentially affect
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Apollo Global Management Inc.–owned Shutterfly Inc. is in discussions to go public via a merger with a Special-purpose acquisition company (SPAC), according to sources familiar with the matter. The move comes two years after Apollo took the Redwood City-based online photo products company private. Shutterfly plans to go public through SPAC Shutterfly joins a list
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On Thursday, Bitcoin maintained gains above $50,000 putting the digital currency on track following steep losses witnessed last week. The largest cryptocurrency is returning to the bullish momentum it has witnessed in recent weeks as mainstream interest continues to grow. Bitcoin on the path to recovery after last week’s losses BTC rose as much as
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The US SEC is working on the first regulation guidelines for crypto after President Joe Biden’s nominee to lead the agency said that they will offer guidelines to provide clarity and guidance to the evolving market. The Crypto sector needs regulation Gary Gensler shared his thoughts about handling cryptocurrencies with the Senate Banking Committee during
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Mall values in the US have dropped by almost 60% following appraisals in 2020, which is a sign of more struggles for retail properties despite the economy emerging from COVID-19 enforced lockdowns. Retail property values depressed In 2020 around 118 retail properties anchored with commercial mortgage securities debt erased $4 billion in value following reappraisals.
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Although active managers might have been busy polishing their environmental, social, and government (ESG) credentials in the past year, investing in the space is not a stock picker’s preserve. It is important to note that passive funds play a vital role in the ESG space, with most of them have considerable following ranging from iShares
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In the last two weeks, stocks had a touch-go as the increasing ten-year yields impact market sentiment. However, despite this pullback, the closely watched “Buffet Indicator” suggests that the wider market is still pricey. The current stock market overvalued Usually, the “Buffet Indicator,” as it is known in Wall Street circles, takes the Wilshire 5000
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Anglo-Swedish drugmaker AstraZeneca (NASDAQ:AZN) has sold its entire 7.7% equity stake in COVID-19 vaccine producer Moderna Inc. (NASDAQ:MRNA) for over $1 billion. The company sold the entire stake over the course of 2020, cashing in the meteoric rise of the US biotechnology firm’s shares following its success in the production of a COVID-19 vaccine candidate.
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ByteDance Ltd agreed to settle a class-action suit by paying $92 million over allegations that its video-sharing app, TikTok illegally harvested personal user data. According to the lawsuits, the app is said to have collected users’ data without consent and shared the information with china-based third parties. Tiktok to settle a class-action suit in the
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