JPMorgan Targets Up to 75% Ownership in Volkswagen’s Payment Business
(CNBC) US top bank JPMorgan is aiming for a majority stake in Volkswagen’s payments unit, with up to 75% ownership being considered. The deal is expected to close in the…
Ukraine’s Parliament Recognizes Cryptocurrencies in Draft Law
(Verkhovna Rada) Ukraine parliament has adopted in its second reading a draft on regulations governing cryptocurrencies in the country. The law, which received support from 276 deputies, will come into…
Tesla’s August Car Sales Jumps to 44,264 in August as Chinese Demand Booms
(Reuters) Electric car maker Tesla sold about 44,264 China-made vehicles in August, as local sales rose to 12,885 cars from July’s 8,621. Out of the sales of China-made vehicles, a…
Coinbase Faces an SEC Lawsuit Over Its Lend Product. Top Chiefs Fight Back
(Coinbase) US Securities and Exchange Commission is threatening to sue Coinbase over its new product known as Lend that promises stablecoin owners a 4% interest on their savings. Coinbase Chief…
Japan Banks on Covid-19 Recoveries to Upgrade Q2 Growth to 1.9%
(Cabinet Office) Japan’s gross domestic product grew at an annual rate of 1.9% in the second quarter, a higher estimate than the previous 1.3% increase. The revised growth estimate is…
PayPal Seeks to Expand Booming BNPL Sector With $2.7B Target of Japan’s Paidy
(Reuters) Payments giant PayPal Holdings Inc. is seeking to acquire Paidy, a Japanese buy now, pay later firm for $2.7 billion. The deal is expected to close in the fourth…
Bitcoin Projected to Maintain Surge Amid Massive Withdrawals by Miners
Analysts are least worried of massive Bitcoin sell-offs by miners, saying that the miner’s net position change has entered the neutral zone. Fig: Miner Revenue per ExaHash Panic gripped Bitcoin…
Goldman Downgrades US Growth to 5.7% Amid Tough Situation
(Bloomberg) Goldman expects the overall economic expansion in the US to be 5.7% this year, a drop from the expected 6% at the close of last month. Economists at Goldman…
Panama Joins El Salvador in Crypto Regulation to Enhance Widespread Use
(Cointelegraph) Panama is the latest Central American nation seeking crypto regulation after Congressman Gabriel Silva introduced a bill in the country’s legislature. Panama’s bill seeks to encourage freedom of use…
Berkshire Reaps $2B Year to Date in BYD Stock to Take Total Gains to 3,400%
(Business Insider) Berkshire Hathaway has gained almost $2 billion in BYD stock this year to close at $7.9 billion compared to $5.9 billion at the close of 2020. The conglomerate’s…
Xu Ming, a Former Regulator, will Head the Newly Formed Beijing Stock Exchange
(SCMP) Xu Ming has been appointed to head the Beijing Stock Exchange, which was created to cater to small and medium-sized enterprises. Xu has worked at the China Securities Regulatory…
Chip Prices Projected to Surge 2022 as TSMC Follows Rivals in Raising Fees
(Nikkei Asia) Markets are warming for higher prices of electronic chips and devices in 2022 after the biggest producer TSMC moved to raise its production fees. TSMC, which has a…
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