Manufacturing Activity Eases to a 13th Consecutive Month of Growth in June
(Institute for Supply Management) US Manufacturing PMI fell by 0.6% in June from May to record a growth of 60.6%. The PMI is an expansion in activity for the 13th…
George Soros Ends Speculation on Crypto Entry to Begin Active Trading Via His Fund
(The Street) George Soros’s hedge fund is actively trading bitcoin, about three years since he developed an interest in cryptocurrencies. Soros Fund Management started trading bitcoin after chief investment officer…
Jobless Claims Fall by 51,000 to Hit Below-Estimate Level of 364,000
(Department of Labor) US jobless claims extended declines by 51,000 to reach a new low of 364,000 in the pandemic era. The jobless claims were lower than expected 390,000 as…
House Bidding Wars Push Annual Prices up by Double Digits – A Bubble Burst Likely?
(Bloomberg) Discussions of the housing bubble burst are back after the craze for home ownership saw global property prices jump at the fastest rate since 2006. Low-cost mortgage, desire for…
Relief for European Banks as ECB’s Lagarde Hints at Lifting Payout Cap in September
(Bloomberg) ECB President Christine Lagarde expects restrictions on dividend payouts and share buybacks imposed on European banks to end in September. Lagarde’s statement signals a return to normalcy that could…
Robinhood Approves Payment of $70 Million to Clear Regulatory Investigation
(WSJ) Online brokerage Robinhood Financial LLC has agreed to pay approximately $70 million to clean regulatory accusations over its trading practices and technology outages. Robinhood is accused of misleading customers,…
Google-Microsoft Tussle Set to Intensify as Five-Year Pact Expire
(Bloomberg) Antitrust battles between Google and Microsoft could increase following the expiry of a five-year non-aggression agreement in April. Under the previous pact, Google and Microsoft had agreed not to…
TPG Considers Public Listing that Could Value the Firm at about $10 Billion
(WSJ) Private-equity giant TPG is evaluating an IPO or SPAC listing that could value the company as much as $10 billion. The process of TPG listing is still in early…
UK GDP Contracted by 1.6% in First Quarter on Fresh Covid-19 Restrictions
(Office for National Statistics) UK’s national output is estimated to have declined by 1.6% in the first quarter, a higher revision from the prior projection of 1.5% contraction. UK GDP…
Coinbase CEO Armstrong Discloses Plans for Crypto App Store
(Coinbase blog) Coinbase CEO Brian Armstrong has revealed plans to launch a crypto app store that provides third-party apps created by outside software manufacturers. The crypto app store aims to…
China’s Manufacturing PMI Slows to 50.9 as Supply Bottlenecks Persist
(National Bureau of Statistics of China) China recorded a manufacturing PMI of 50.9 in June, down from 51.0 in May. The PMI was still higher than the expected 50.8. The…
Big Win for Recreational Cannabis in Mexico as Top Court Removes Prohibition
(BBC) Mexico’s Supreme Court has ruled in favor of recreational use of cannabis by adults, terming the current prohibition unlawful. The 8-3 court ruling means that adults in Mexico can…
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