MicroStrategy (NASDAQ:MSTR) executive chairman Michael Saylor humorously reached out to Microsoft (NASDAQ:MSFT) CEO Satya Nadella, suggesting he can help with the company’s Bitcoin (CRYPTO: BTC) strategy. What Happened: In a post on X on Friday, Saylor advised Nadella that if he’s interested in creating the next trillion-dollar opportunity, he should reach out. This comes as Microsoft, per an SEC filing, prepares to discuss a possible Bitcoin investment at its December shareholder meeting. MicroStrategy, despite being much smaller, has outperformed Microsoft by 313% largely due to its Bitcoin holdings. The company’s total bitcoin holdings as of Oct. 20 stand at 252,220,…
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(Bloomberg) — Indonesia has blocked Apple Inc. from selling its latest iPhone 16 devices in Southeast Asia’s largest economy, saying the company has yet to meet domestic investment requirements.Most Read from BloombergThe iPhone 16, launched in September, cannot be marketed domestically as local unit PT Apple Indonesia has not fulfilled the country’s 40% local content requirements for smart phones, the Ministry of Industry said in a statement on Oct. 25.That’s a road bump for Apple which has otherwise enjoyed healthy sales of its flagship product, especially as demand firms up in China. Indonesia is a $1-trillion economy, where the number…
Poman Lo, Founding Managing Partner at impact venture fund AlphaTrio Capital, discusses Hong Kong’s ambitions as a green finance hub and investing in climate tech. She speaks with Annabelle Droulers on “Bloomberg: The China Show” from the sidlines of the “Hong Kong FinTech Week”. (Source: Bloomberg) Source link
This article is sponsored by BeZero Carbon. Carbon markets have faced a challenging few years of intense media scrutiny. But in this time, the market has shown an immense capacity for self-reflection and improvement in how it has responded to concerns around integrity and incentives. This feedback loop means carbon markets today are almost unrecognizable compared to the landscape a few years ago. However, persistent media attention has spooked some businesses away from offsetting due to the prospect of reputational risk, despite the strides the market has made to resolve crucial issues around the effectiveness of carbon credits as climate…
TOKYO (AP) — Asian shares rose Monday, as the yen dipped in the midst of political uncertainty after Japan’s ruling party lost its majority in Parliament’s lower house in weekend elections. In currency trading, the U.S. dollar rose to 153.76 Japanese yen from 152.24 yen. It was trading at 140-yen levels last month. The euro cost $1.0796, down form $1.0803. The weak yen is a boon for Japan’s giant exporters like Toyota Motor Corp., whose stock gained 3.7% in Tokyo trading. Nintendo Co. gained 2.6%, while Sony Corp. rose nearly 2.0%. Japan’s ruling Liberal Democratic Party is still the top…
The United States is a consumption-driven economy. But over the last half century, the US consumer has been weakening in the face of social and economic pressures. In recent years, the US Federal Reserve’s easy money policies along with fiscal stimulus have boosted consumption, but with inflation’s resurgence post-pandemic, such measures have run their course and consumer spending has resumed its long-term trend of declining growth. This will likely lead to recession. What’s the alternative? A US iteration of Japanification in which the Fed, the federal government, or some combination thereof artificially keep the US consumer afloat. A Consumer-Driven Economy…
View of Iran’s oil industry installations in Mahshahr, Khuzestan province, southern Iran.Kaveh Kazemi | Getty ImagesOil prices will remain under pressure for the rest of this year, it may be difficult to see Brent crude oil prices reaching $80 in the foreseeable future.Andy Lipowpresident at Lipow Oil Associates”The recent Israel military action is unlikely to be seen by the market as leading to an escalation that impacts oil supply,” Citi analysts wrote in a note on Monday, cutting the bank’s Brent oil forecast by $4 to $70 per barrel over the next three months.Oil markets are also staring at an…
October 2024 has brought back memories of the market chaos triggered by the coronavirus pandemic. The Indian stock market benchmark, Nifty 50, has seen the sharpest drop since the crash of March 2020. The Nifty 50 index has slipped 6.32 per cent in October so far. It has lost 8 per cent from its all-time high of 26,277.35, recorded on September 27, over just 19 trading sessions.This recent sell-off has resulted in 35 constituents of the index to trade between 10% and 39% below their recent one-year peaks as per the Trendlyne data.The reasons behind the crash are clear. A…
Zilch Expands Securitisation to £150M with Investment from Major Global Credit Funds with Deutsche Bank (Graphic: Business Wire)Zilch Secures Investment from Major Global Investment Funds allowing Annual Sales to grow to £10bn (Photo: Business Wire)LONDON, October 28, 2024–(BUSINESS WIRE)–Zilch, the fintech payments innovator of the world’s first ad-subsidised payments network (ASPN), today announces the successful expansion of its securitisation facility by an additional £50 million, bringing the total to £150 million. This latest round includes participation from two of the world’s largest credit funds, alongside lead arranger Deutsche Bank.The total deal will allow Zilch to support £10 billion in annual…
(Bloomberg) — The yen fell after Japan’s ruling coalition failed to win a majority in parliament, stoking speculation the political uncertainty would impact the central bank’s rate-hike policy. Crude slumps after Israeli strikes on Iran avoided oil facilities. Most Read from Bloomberg The Japanese currency fell as much as 1% to 153.88 per dollar Monday, the weakest level in about three months, after a gamble by Prime Minister Shigeru Ishiba to call a snap election backfired. The weaker yen, which benefits the nation’s export-oriented economy, helped push the Topix index up by as much as 1.6%. Much of the yen’s…