Fed’s July Meeting Hints at a Possible Bond Tapering This Year
(Fed) The Federal Reserve minutes for the July 27-28 meeting confirms that officials have the intention to pull back the pace of the $120 billion monthly purchases. The Federal Reserve…
El Salvador’s Central Bank Recognizes Bitcoin as a Legal Tender in Draft Guidelines
(Cointelegraph) The Central Bank of El Salvador published draft regulations on bitcoin-related services, classifying BTC as a legal tender. The Central Bank, in the two drafts released on August 17,…
Tencent Revenues Grow 20% in Q2 on Strong Advertising and Business Services Lines
(Tencent) Chinese tech giant Tencent posted a revenue of RMB138.3 billion or $21.4 billion in the second quarter, up 20% from the comparable quarter of 2020. Tencent’s revenues were boosted…
ATOM Surges as InterBTC Enters Cosmos Ecosystem. More BTC Liquidity Projected
(Medium.com) Cosmos, which dubs as, “The Internet of Blockchains,” is welcoming InterBTC to its ecosystem to bring deep BTC liquidity to users. InterBTC boosts interoperability, allowing transmission of value, as…
Baidu Defies Beijing Tech Sector Crackdown to Raise $1 Billion in ESG Bond
(Reuters) Internet giant Baidu Inc. has issued a two-tranche US dollar sustainability bond, generating $1 billion. The two-tranche bond comprised a 5.5-year and 10-year bond, which raised $300 million and…
EIA Downgrades Next Year’s Global Petroleum Production Forecast to 101.8M B/D
(EIA) The US Energy Information Administration has downgraded the energy outlook in 2022 by 20,000 b/d to a lower level of 101.8 million b/d. EIA revised the world average petroleum…
Lowe Upgrades FY21 Guidance after Earnings Rise by $0.2B in the Second Quarter
(Lowe) Lowe’s Company Inc. posted net earnings of $3.0 billion or $4.25 EPS in the second quarter, up from $2.8 billion or $3.74 EPS in the comparable quarter of 2020.…
Housing Starts Plummet 7% in July Amid an Uptick in Permits
(Census Bureau) The US recorded a monthly 7% plunge in housing starts in July, with the annual rate now at 1.534 million from 1.650 million in June. Despite the plunge,…
European Construction Activity Plunges in June but Remain Elevated from Prior Year
(Eurostat) Construction sector production fell by 1.7% in the euro area and by 1.2% in the EU in June from May. Construction production had shed 0.4% in the euro area…
Inflation Jump 2.5% in the EU, Exceeding 2.2% Increase in the Euro Area in July
(Eurostat) Annual inflation in the EU rose at a faster rate of 2.5% in July 2021, the gain from 2.2% posted in June. The Euro area’s annual inflation increased by…
Bitcoin Stock-To-Flow Model Predicts Another Cycle for Its Current Bull Market
(PlanB) Plan B’s Bitcoin stock-to-flow pricing model shows that the cryptocurrency’s bull market is far from over. Plan B, which is the architect of the model, pointed out that the…
Alibaba Is Working with Sichuan Government to Open an NFT Marketplace
(Beincrypto) Chinese e-commerce firm Alibaba Group Holdings is seeking the approval of a non-fungible token marketplace from the Sichuan provincial government. Dubbed “Blockchain Digital Copyright and Asset-Trade,” the service will…
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