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June 11, 2021

Financial

Virtu Financial CEO says meme stock frenzy not solely driven by ‘a band of retail traders’

CNBC
CNBC – For more and to sign up click here The frenzied activity involving so-called meme stocks is being driven by more than just retail investors, the CEO of market maker Virtu Financial told CNBC on Wednesday. “There’s a lot of institutions, professional traders, speculators, whatever you want to call......

China’s Shenzhen dangles financial incentives to spur satellite sector

Reuters
The central business area that lit up during a light show is seen ahead of the 40th anniversary of China’s reform and opening up in Shenzhen, Guangdong province, China December 4, 2018. REUTERS/Thomas Suen China’s southern tech city of Shenzhen said on Monday it would offer up to 300 million......

Financial advisors feel pull of cryptocurrency wave as more clients express interest

CNBC
CNBC – For more and to sign up click here When the market was crashing in March 2020, financial advisor Ivory Johnson, founder of Delancey Wealth Management, decided it was time to introduce cryptocurrencies to his clients. “I did it because I saw how active the Federal Reserve was and......

UN tribunal for Lebanon may close after July due to financial crisis

Reuters
A U.N. tribunal set up to prosecute those behind the 2005 assassination of Lebanese Prime Minister Rafik Hariri said on Wednesday it will have to close after July if it is unable to resolve an acute funding shortage. “The Special Tribunal for Lebanon (STL) regrets to announce that it is......

Digital currencies are the future for Russia’s financial system, central bank governor says

CNBC
CNBC – For more and to sign up click here A man on the phone walks past the Russian Central Bank headquarters as the Russian flag flies, in downtown Moscow, on March 19, 2021. KIRILL Kudryavtsev | AFP | Getty Images As the economy moves online, digital currencies will be......

With Midseason Manager Magic and Financial Might, Chelsea Reigns Again

Sports Illustrated
SI – For more and to sign up click here Jonathan Wilson It turns out the formula is simple. Sack your coach midway through the season when you’re so far behind the league leaders that the Champions League is the only realistic target, and, at least if you’re Chelsea, you......

Get Ready for Financial Shocks From Climate Change, Biden Tells Officials

@BreaknNews
Randal K. Quarles, the Fed’s vice chair for bank supervision and regulation, was asked about the critique while testifying before House lawmakers on Wednesday. Mr. Quarles defended the Fed’s attention to climate change as part of regulation, calling it a “potential risk” that finance companies and the governments that oversee......

Lawmakers introduce bill to authorize financial support for

CBS News
CBS News – For more and to sign up click here A bipartisan, bicameral group of lawmakers introduced legislation on Wednesday that would authorize added financial support for U.S. officials who have suffered brain injuries resulting from “Havana Syndrome,” a mysterious set of symptoms known to have afflicted scores of......

China bans financial, payment institutions from cryptocurrency business

Reuters
A small toy figurine is seen on representations of the Bitcoin virtual currency displayed in front of an image of China’s flag in this illustration picture, April 9, 2019. REUTERS/Dado Ruvic/Illustration China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against......

Tel Aviv, Israel’s Bustling Financial Hub, Shaken as Rockets Rain Down

New York Times
New York Times – For more and to sign up click here TEL AVIV — Tel Aviv’s city hall launched a playful social media campaign this month declaring itself a vaccinated city eager to welcome back international travelers on their first post-coronavirus trips abroad. That was before the rockets began......

‘Embrace the volatility’ of the markets and stay with your original investment plan, financial experts say

CNBC
CNBC – For more and to sign up click here Morsa Images | E+ | Getty Images The U.S. stock market is back in choppy waters. On Wednesday, all three major U.S. indices — the Dow, S&P 500 and Nasdaq — slid on fears that rising inflation will lead to......

Provident Financial withdraws from doorstep lending after 140 years

BBC
https://www.bbc.co.uk/news/business-57012254 Debt adviser Sara Williams, who runs the Debt Camel blog, said: “In August 2020 the Financial Conduct Authority said prolonged relending can be harmful to borrowers. And the Financial Ombudsman has been upholding 75% of affordability complaints against Provident – I estimate the average refund is about £5,000 and......

Covid Testing Has Turned Into a Financial Windfall for Hospitals and Other Providers

KHN
Pamela Valfer needed multiple covid tests after repeatedly visiting the hospital last fall to see her mother, who was being treated for cancer. Beds there were filling with covid patients. Valfer heard the tests would be free. So, she was surprised when the testing company billed her insurer $250 for......

Peloton’s sales surge 141% as delivery pressures ease; no word on recall’s financial hit

CNBC
CNBC – For more and to sign up click here A monitor displays Peloton Interactive Inc. signage during the company’s initial public offering (IPO) across from the Nasdaq MarketSite in New York, U.S., on Thursday, Sept. 26, 2019. Michael Nagle | Bloomberg | Getty Images Peloton on Thursday reported fiscal......

Dogecoin rally is a ‘middle finger’ to the financial system, says crypto bull Mike Novogratz

CNBC
CNBC – For more and to sign up click here Dogecoin’s massive rally this year can be seen as a kind of “middle finger” to the traditional financial system, longtime crypto bull Mike Novogratz told CNBC on Wednesday. Novogratz spoke after the price of dogecoin surged again early Wednesday. The......

As small businesses slowly recover, financial help becomes more targeted. Here’s what’s available

CNBC
CNBC – For more and to sign up click here Tobi Parks surveys drinks at her recently reopened arts and music venue, xBk, in Des Moines, Iowa. Lily DeTaeye Like many small business owners, Tobi Parks saw her business devastated by the Covid pandemic. Parks had to shut the doors......

Nasdaq’s arguments for diversity and effect on financial performance

USA Today
USA TODAY – For more and to sign up click here USA TODAY Nasdaq recently asked the Securities and Exchange Commission (SEC) to approve new diversity rules. To avoid forced delisting, a firm must “diversify or explain”: either have a certain number of “diverse” directors or say why it does......

Japan finmin says to boost regional financial ties at ASEAN+3 meeting

Reuters
Japan’s Deputy Prime Minister and Finance Minister Taro Aso, wearing a protective face mask, delivers his policy speech at the opening of an ordinary session of the parliament in Tokyo, Japan January 18, 2021. REUTERS/Issei Kato/File Photo Japan will aim to strengthen regional financial cooperation with China, South Korea and......

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