Author: MNK News
CLNKraneShares Key News Asian equities were mixed overnight as Singapore, Hong Kong, and Mainland China outperformed while India, the Philippines, and Indonesia underperformed. Hong Kong and Mainland China opened lower but went from lower left to upper right/grinding higher all day on strong volumes, and strong breadth/advancers beat decliners handily. Several key catalysts are at play: Chatter that NPC fiscal stimulus could be more significant than anticipated on the low end of between RMB 2 trillion to RMB 6 trillion while the high end of the range of RMB 10 trillion to address local governments’ hidden debts, real estate support,…
FILE – Houston Astros’ Kyle Tucker tosses his bat after hitting a home run against the Minnesota … [+] Twins during the third inning of a baseball game Saturday, June 1, 2024, in Houston. (AP Photo/David J. Phillip, File)Copyright 2024 The Associated Press. All rights reserved. The Cubs addressed a significant area of need on Friday, completing a four-player deal for Astros outfielder Kyle Tucker. In return, the Cubs are sending Isaac Paredes, Hayden Wesneski, and prospect Cam Smith to Houston. The trade, according to multiple reports, will bring Chicago a much-needed left-handed power bat. The Cubs ranked 21st in…
Dan Morehead, founder and managing partner of Pantera Capital, made it clear that he thinks crypto is a better reserve investment than gold. Speaking with CNBC on Thursday, Morehead compared the development of blockchain technology to historical financial innovations and expressed some serious optimism about the crypto and blockchain space — especially as more and more institutions expose themselves to it. “Presently, most institutions really have almost zero exposure to blockchain, so once they start engaging in the space, it should do well,” he said. Morehead cited regulatory uncertainty as a key hurdle for institutional adoption, pointing to ongoing legal…
Joe Biden and Kamala Harris are leaving office in a little more than a month, but their disastrous economic policies that have led to sky-high consumer prices are still being felt by ordinary Americans — especially in the streaming entertainment field. YouTube TV is hiking prices by 13.7 percent, with a subscription now costing $82.99 a month, up $10 from $72.99. The price hike has enraged many longtime subscribers, some of whom remember when the live TV streaming service cost just $35 a month ten years ago. On Thursday, YouTube TV, which is owned by Google, said the increase is effective…
These high-energy young entrepreneurs are innovating new methods to unlock a cleaner, greener future. By Hank Tucker, Chris Helman and Igor Bosilkovski Solar energy capacity has grown exponentially in the last decade as one of the leading catalysts of the green revolution away from fossil fuels, but a drawback of solar farms is that they can only generate energy in daylight. Ben Nowack is challenging this basic law of nature by selling “sunlight as a service” at all hours. Nowack, 28, and his Reflect Orbital cofounder Tristan Semmelhack, 23, have raised $8.7 million from prestigious investors including Sequoia Capital to…
Topline Financial markets’ strong reaction to Donald Trump’s projected return to the oval office included a spike in the value of the dollar and a sharp selloff in fixed income, hinting at both investor optimism at strong economic growth and concerns about inflation. Trump appears at a Michigan rally earlier this year.Getty Images Key Facts The U.S. dollar index (DXY), which tracks the American currency’s exchange rate against a basket of six other developed market currencies including the euro and the Japanese yen, rose 1.8% to about $105.30 by around 8 a.m. EST, registering its highest level since early July.…
Critics call gambling “the devil’s playground.” Losses to online gambling in the U.S. now look set to live down to that estimation by surpassing the $1 trillion mark in coming years at the expense of American bettors. U.S. lawmakers and government regulators “cannot continue to rely on the theory of responsible gambling, which shifts the burden of harm prevention onto individuals,” Derek Webb, founder and chief funder of the California-based Campaign for Fairer Gambling, said Wednesday in a release forecasting the impending losses. A UPI report notes gambling is legal in some form in more than 80 percent of the nearly 200…
Maybern cofounders Ashwin Raghu and Ross Mechanic started the company in 2021 to automate the highly complex accounting calculations that plague investment firms.Maybern Sitting beneath the $15 trillion that global investors have sunk into private capital, a burgeoning pool of investments that covers everything from private equity and private credit to venture capital and real estate funds, is a mind-numbing accounting problem. Investment firms make countless bespoke deals with their deep-pocketed clients, creating the need for highly complex, custom calculations to figure out the investment firms’ management fees and who will reap what share of the profits. “It doesn’t matter…
The Bank of England’s Prudential Regulation Authority has issued a data request asking firms to disclose their current and planned exposures to “cryptoassets.” The statement requested firms to disclose their current and expected future “cryptoasset exposures” and to explain their use of the crypto-regulating Basel framework. These assets encompass tokenized assets and stablecoins. Firms have until March 24, 2025, to submit their responses. The PRA emphasized that the information will inform its policymaking, including calibrating prudential frameworks for managing ‘cryptoasset’ exposures. This initiative aligns with the global Basel framework, which guides the prudential treatment of cryptoassets. Use of tokenized assets…
Topline President-Elect Donald Trump has named billionaires Elon Musk, one of his biggest campaign supporters, and Vivek Ramaswamy, his one-time primary opponent, to lead a new “Department of Government Efficiency”—giving Musk a role in his administration after Trump and the world’s richest person spoke on the campaign trail about working together. SpaceX and Tesla founder Elon Musk speaks during a town hall for Donald Trump on Oct. 18, 2024. Getty Images Key Facts The announcement comes months after Musk and Trump first started publicly floating the idea of a government efficiency position for the billionaire and more than a week…