Day: July 30, 2020

Strive Masiyiwa struggling to sell Liquid Telecom stake
Stock News

Strive Masiyiwa struggling to sell Liquid Telecom stake

The coronavirus pandemic is hampering efforts by Zimbabwean billionaire Strive Masiyiwa to sell a stake in Africa’s largest fibre company. Masiyiwa is seeking buyers for 20-34% of Liquid Telecommunications Holdings for as much as $600 million (R10 billion), according to four people with direct knowledge of the matter. He needs the money to repay a $375 million (R6.3 billion) loan that was backed by the Public Investment Corporation (PIC), they said. The PIC, which oversees the equivalent of $135 billion (R2.3 trillion), mainly on behalf of South African government workers, is demanding the issue be resolved by the end of August after granting an extension on the payment earlier this year, the people said. The loan it backed was used to fund a pay-TV venture, which failed last year bec...
Hackers Have Been Using Dogecoin to Deploy Malware for 6 Months & No One Noticed
Crypto News

Hackers Have Been Using Dogecoin to Deploy Malware for 6 Months & No One Noticed

A new study indicates that hackers are actively relying on the Dogecoin (DOGE) blockchain to expand a malware payload named “Doki.” According to cybersecurity researchers at Intezer, Doki is a fully undetected backdoor that abuses the Dogecoin blockchain “in a unique way” in order to generate its C2 domain address and breach cloud servers. It is deployed through a botnet called Ngrok. These domain addresses are used by the malware to search for additional vulnerable cloud servers within the network of the victim. Intezer’s study explains further about the deployment of the attack: “The attacker controls which address the malware will contact by transferring a specific amount of Dogecoin from his or her wallet. Since only the attacker has control over the wallet, only he can control ...
Big tech crushes Q2 earnings expectations – TechCrunch
Stock News

Big tech crushes Q2 earnings expectations – TechCrunch

TechCrunch ist Teil von Verizon Media. Klicken Sie auf 'Ich stimme zu.', um Verizon Media und dessen Partnern Ihre Einwilligung zu geben, Cookies und ähnliche Technik zu nutzen, um auf Ihr Gerät zuzugreifen und Ihre Daten (einschließlich Standort) zu nutzen, um mehr über Ihre Interessen zu erfahren, personalisierte Anzeigen bereitzustellen und deren Effektivität zu messen. Wir stellen außerdem personalisierte Anzeigen für Partnerprodukte bereit. Weitere Informationen, wie wir Ihre Daten nutzen, finden Sie in unserem Datenschutzcenter. Nach der Festlegung der Datenschutzeinstellungen sind Änderungen jederzeit möglich. Dazu bitte einfach das Datenschutz-Dashboard aufsuchen. Klicken Sie auf 'Weitere Informationen', um zu erfahren, wie Verizon Media und dessen Partner Daten erfassen und verwe...
Loss of $22 Billion in Foreign Exchange a ‘Minor’ Issue in Iran – Iran Focus
Forex News

Loss of $22 Billion in Foreign Exchange a ‘Minor’ Issue in Iran – Iran Focus

By Jubin Katiraie A powerful system of political patronage, nepotism, and cronyism pervade all sectors of Iran's economy. Bribes are often given to obtain services, permits, or public contracts. Nearly all of Iran's economy is in control of key state institutions, including the Islamic Revolutionary Guards Corps (IRGC) and the judiciary. There is an old Persian proverb that is said, a thief who steals stolen property is the king of thieves. Today, the question which is standing in front of us is, when Iran’s government is busy by looting, stealing the people's wealth and the country's precious resources and money on a daily basis, which thieves have stolen $22 billion of government currency? Jamal Razaghi, head of the chamber of commerce in Fars province, told the state-run ILNA news...
Tata Communications’ profit after tax jumps over 3-fold to Rs 258 cr in June quarter
Stock News

Tata Communications’ profit after tax jumps over 3-fold to Rs 258 cr in June quarter

Tata Communications on Thursday posted over threefold jump in its consolidated profit after tax to Rs 258 crore in the first quarter ended June 30, on the back of jump in data business. The company had registered a profit of Rs 77 crore in the corresponding period of the previous year."Due to lockdown and remote working, we are witnessing increased bandwidth usage and higher collaboration traffic. Enterprises have upgraded their capacities and are consuming more data to support this work model," Tata Communications said in a statement. Tata Communications Chief Financial Officer Pratibha K Advani said the company's data portfolio recorded a double-digit growth of 10 per cent y-o-y with a robust margin expansion of 460 basis points. Its India enterprise business grew 6.7 per cent year-o...
eBay Drops Despite a Decent Q2: How About Taking ETF Route?
ETFs

eBay Drops Despite a Decent Q2: How About Taking ETF Route?

Shares of eBay Inc. EBAY dropped about 3.2% on Jul 29, despite beating estimates in the second quarter. The coronavirus outbreak worked wonders for this online retail giant. The pandemic and the resultant need for social distancing has boosted online shopping activities. However, eBay’s “new outlook disappointed investors who hoped the digital marketplace would take greater advantage of the surge in consumer spending during the pandemic,” per Bloomberg. Inside Q2 Results The company reported second-quarter 2020 non-GAAP earnings of $1.08 per share, beating the Zacks Consensus Estimate by 2.8%. The bottom line also improved 63.6% year over year and 40.2% sequentially. Net revenues of $2.9 billion surpassed the Zacks Consensus Estimate of $2.8 billion. The top line was up 18%...
Thursday’s ETF Movers: SOXX, GDXJ
ETFs

Thursday’s ETF Movers: SOXX, GDXJ

In trading on Thursday, the iShares PHLX Semiconductor ETF is outperforming other ETFs, up about 1% on the day. Components of that ETF showing particular strength include shares of Qualcomm, up about 12.5% and shares of Qorvo, up about 9.6% on the day. And underperforming other ETFs today is the Junior Gold Miners ETF, down about 4.8% in Thursday afternoon trading. Among components of that ETF with the weakest showing on Thursday were shares of Alamos Gold, lower by about 8.1%, and shares of Oceanagold, lower by about 7.6% on the day. VIDEO: Thursday's ETF Movers: SOXX, GDXJ The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Soure: Nasdaq
WEEKAHEAD-AFRICA-FX-Zambia’s kwacha under pressure, East Africa currencies steady – Yahoo Finance
Currencies

WEEKAHEAD-AFRICA-FX-Zambia’s kwacha under pressure, East Africa currencies steady – Yahoo Finance

JOHANNESBURG, July 30 (Reuters) - The Zambian kwacha is likely to come under pressure in the coming week as month-end rebalancing sees some selling by corporate investors. In East Africa, currencies are set to remain range-bound. ZAMBIA The kwacha could weaken as companies complete hard currency sales to make month-end payments. On Thursday, commercial banks quoted the currency of Africa's second largest copper producer at 18.2140 from a close of 18.0810 a week ago. "We expect the local unit to face some headwinds in its quest to remain range-bound as big month-end corporate conversions have already been priced in," Zambia National Commercial Bank (ZANACO) said in a note. KENYA The Kenyan shilling is also expected to be under pressure from increased dollar demand from the energy sector ...
Gold – The Currency Of Last Resort
Stock News

Gold – The Currency Of Last Resort

Source: hedgeye.com Indeed it has been said that democracy is the worst form of Government except for all those other forms that have been tried from time to time.… Winston Churchill Gold is not a form of currency that we are likely to ever use. The world's reserve currency, whichever it is in the future, would not be pegged to the precious metal once again, nor are we likely to ever use gold for transactions or savings in a meaningful way. However, the way I see gold is as a special form of currency. A currency that becomes relevant only at times when the risk for the global financial system runs very high. Not the risk of recession nor the equity risk, but rather the risk of the stability of the monetary regime. This is my reason to holding gold as part of my portfolio - as a for...
A guide to forex trading instruments – The Boca Raton Tribune
Forex News

A guide to forex trading instruments – The Boca Raton Tribune

Online trading involves buying and selling financial instruments via an online platform. The online platform is a service offered by a broker or a registered financial institution; for instance, a bank. To benefit from online trading, you need to know your way around the platform. The various terms and their meanings.  This article walks you through the main trading instruments; explaining what they are and why they matter in your online trade.  What are trading instruments? Trading instruments is a phrase used to refer to the different markets available for online traders. There are several trading instruments in a market. They may include securities, stocks, currencies, and CFDs.  Currencies are the main instruments of a foreign exchange market: that is, the currency...