Oil Bullishness Pauses as OPEC+ Moves with Plan to Boost Output
(Bloomberg) Brent crude hit the ceiling near $72 as investors took time to digest OPEC+ plan to boost output by 400,000 barrels a day from October. The pause in oil…
SEC Sues BitConnect Founders over a Crypto Scheme Amounting to $2 Billion
(Bloomberg) US Securities and Exchange Commission has sued BitConnect founder Satish Kumbhani for raising more than $2 billion from investors without the regulator’s approval. Kumbhani is sued alongside BitConnect’s promoter…
Media Apps to Avoid the 30% Fees on Services as Apple Bows to Global Pressure
(Bloomberg) Apple Inc. has agreed to allow media app developers to link their App Store to other websites and avoid the current 30% fees on downloads and subscriptions. The change…
Chinese Regulators Go after Ride-Hailing Firms. Summons 11 Companies
(Reuters) Didi Global Inc., Meituan, and Geely’s Caocao are among 11 ride-sharing firms summoned by Chinese regulators over market practices. The regulators accuse the ride-hailing firms of hiring unqualified drivers…
DEA Seeks the Expansion of Marijuana and Psilocybin Production for Medical Research
(Marijuana Moment) The Drug Enforcement Administration is pushing for an expansion in Marijuana and Psilocybin production for the research and development of therapeutic drugs. The agency seeks to increase its…
Tesla on the Journey to Creating a Humanoid Bot Seeks to Fill New Positions
(Electrek) Tesla is recruiting to fill new positions relating to building a humanoid robot, dubbed the Tesla Bot. Some of Tesla’s advertised positions include an electrical engineer, a mechanical design…
DeFi and NFT Mania Boosts Altcoins. Eth Above $3,550 for the First Time Since May
(Markets Insider) The world’s second biggest cryptocurrency Ethereum led other altcoins in Wednesday’s surge, jumping by up to 7% to about $3,560, the highest since mid-May. The surge in Ether…
US Manufacturing Remains Robust, but PMI Eases to 61.1 in August
(IHS Markit) US Manufacturing PMI hit 61.1 in August, down from 63.4 in July, the lowest in four months, but one of the strongest in the series history. The robust…
Google Moves to an In-House CPU Development for PCs and Tablets
(Nikkei Asia) Tech giant Google is making its own central processors for laptops and tablets as it shifts to in-house development to become competitive. The move by Google is part…
Private Employment Misses Estimates after a Jump of 374,000 in August
(ADP National Employment) US private-sector employment rose by 374,000 in August from July, a lower gain compared to an expected increase of 600,000. Medium businesses added the most jobs at…
NIO Records a 48.3% Jump in Deliveries in August but Cuts Outlook on Chip Issues
(Nio Inc.) Nio Inc. delivered 5,880 vehicles in August this year, up 48.3% from the comparable month of 2020. The deliveries consisted of 1,738 ES8s, 2,342 ES6s, and 1,800 EC6s.…
Beijing-Backed Firms Courts Major Stakes in Ant’s JV that Revives IPO Hopes
(Reuters) Chinese government-backed firms are eyeing major stakes in Ant Group joint venture with Zhejiang Tourism Investment Group that could come as soon as October. Ant’s IPO with Zhejiang aims…
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