Day: September 25, 2020

Square CEO Jack Dorsey says Bitcoin holds the keys to security
Crypto News

Square CEO Jack Dorsey says Bitcoin holds the keys to security

The Oslo Freedom Forum, an event-based entity under the wing of the Human Rights Foundation, or HRF, digitally hosted Square CEO Jack Dorsey for a quick interview on YouTube. During the engagement, the CEO spoke positively of crypto's largest asset, Bitcoin (BTC).  "The whole spirit of Bitcoin, for instance, is to provide a trusted system in a distrusted environment, which is the internet," Dorsey told host and HRF president Thor Halvorssen in an interview, published on Sept. 25.  Dorsey's comment came in the midst of a discussion on security and methods for protection against nefarious parties. "I fundamentally believe that security is not something that can ever be perfected," he said. "It's a constant push to be 10 steps ahead of your attackers." With regard to Twitter, a...
Consumers and COVID: Spending patterns adjust to the new normal
Investing

Consumers and COVID: Spending patterns adjust to the new normal

Since the start of 2020, we have witnessed the most volatile period of consumer spending in US history. The primary catalyst has been the COVID-19 pandemic, which has taken almost 1 million lives globally.1 It has been the worst pandemic since the Asian flu in 1957, which resulted in 1.1 million lives lost, including 100,000 in the US.2 To minimize the chance of contracting the virus, millions of consumers have disrupted their lives to avoid contact with others. Businesses and local governments have also restricted commerce to enforce social distancing guidelines. These changes have caused consumer spending to plunge, driven by sharp declines in spending on services and consumer durables. While some obvious consumer trends have emerged from the COVID-19 crisis — such as the boon to online ...
These companies are returning more money to shareholders after cutting jobs
Business news

These companies are returning more money to shareholders after cutting jobs

Shoppers stand in line to enter a Foot Locker Inc. store at the Queens Center shopping mall in the Queens borough of New York, U.S., on Wednesday, Sept. 9, 2020. Peter Foley | Bloomberg | Getty Images Dividends and stock buyback programs are slowly returning, but for some companies, the reinstatement of these plans follows layoffs and permanent job cuts.   In March and April, the coronavirus pandemic spurred many companies to put their share buyback programs on pause and suspend or slash their dividend payments. In the case of some companies, like airlines and restaurant chains, the measure was part of a scramble for cash as the crisis threw their businesses into turmoil and demand collapsed. In the second quarter of 2020, dividend payments fell to their lowest level...
Long Call Option Strategy for Beginners
Online Trading

Long Call Option Strategy for Beginners

There are many ways to make profit from a stock’s movement beyond putting your money in the actual stock itself with a popular one being the long call option strategy. Options provide a seemingly endless array of strategies because of the countless ways traders can combine buying and selling call options and put options at different expirations and strike prices. An option is a financial contract that allows (but doesn’t require) an individual to buy or sell an underlying security like a stock, index or exchange-traded fund (ETF) at a specified price (strike price) within a given period, usually a few weeks or months. Buying an option that gives you the right to buy shares at a later time is called a “call option,” whereas buying an option that gives you the right to sell shares at a la...
Fed’s George: Bank strains could still materialize
Forex

Fed’s George: Bank strains could still materialize

The Federal Reserve's monetary policy and changing capital rules may hasten the ongoing consolidation in the banking industry, Kansas City Federal Reserve Bank President Esther George said on Friday, as reported by Reuters. In her prepared remarks for delivery to the Independent Bankers of Colorado, George warned that bank strains could still materialize and noted that community banks need to be vigilant given stress in their core markets, particularly commercial real estate. Market reaction These comments don't seem to be having a significant impact on market sentiment. As of writing, the S&P 500 Index was up 0.4% on the day at 3,260. Credit: FX Street
Twelve individuals settle fraudulent trading case with Sebi, pays Rs 3.22 cr
Stock News

Twelve individuals settle fraudulent trading case with Sebi, pays Rs 3.22 cr

New Delhi: As many as 12 individuals have settled with Sebi a case of alleged fraudulent trading in the shares of Mishka Finance and Trading Ltd by paying Rs 3.22 crore in total towards settlement charges. As per the settlement order, individuals (applicants) paid Rs 26.77 lakh each for settlement. Additionally, Rs 90,000 was paid on joint and several basis by them as legal costs. The settlement order comes after the individuals filed an application with the regulator seeking a settlement of the matter without admitting and denying the alleged violation of PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) norms. In a settlement order passed on Thursday, Sebi said that "enforcement proceedings for the alleged defaults ...settled qua the applicants". It was alleged that the ap...
Why centralized exchanges will lead crypto to the future
Crypto News, Trading

Why centralized exchanges will lead crypto to the future

Decentralized exchanges are undoubtedly an exciting development in crypto. DEXs facilitate the trading of cryptocurrencies directly between users, without the need for a trusted intermediary. This, in turn, allows users to keep custody of their funds. However, while DEXs have their advantages, they still lack in terms of regulations and scalability, which are key considerations that could determine the future trajectory of the crypto industry. Centralized exchanges will continue to play a pivotal role in this ecosystem, providing the depth of liquidity needed to grow the wider crypto community. The benefits of centralized exchanges’ KYC for their users DEXs tend to not be regulated and not require their users to undergo Know Your Customer verification. DEXs may be peer-to-peer marketp...
EUR/JPY Price Analysis: Further rangebound on the cards
Forex

EUR/JPY Price Analysis: Further rangebound on the cards

EUR/JPY appears to be stabilizing above the 100-day SMA (122.42). The resumption of the selling bias could see the 200-day SMA retested. EUR/JPY still navigates within a side-lined mood around the key 122.90 region so far on Friday. This area of contention coincides with January’s peak. The recent selling pressure seems to have met decent contention in the mid-122.00s for the time being. If cleared, there is a minor support at the 100-day SMA near 122.40 ahead of the critical 200-day SMA, today at 120.87. Below the 200-day SMA the outlook on the cross is expected to shift to bearish. EUR/JPY daily chart Credit: FX Street
Dow futures turn lower as market struggles to avoid losses for the week
Business news

Dow futures turn lower as market struggles to avoid losses for the week

A woman rides past the New York Stock Exchange (NYSE) on July 13, 2020 at Wall Street in New York City. Johannes Eisele | Getty Images U.S. stock futures were lower early Friday as the market indexes tried to avoid a fourth consecutive week of losses. Futures for the Dow Jones Industrial Average implied an opening loss of more than 50 points. Contracts tied to the S&P 500 and the Nasdaq Composite also traded in positive territory. The drop in futures comes after the three major U.S. indexes held on to slight gains during a choppy session Thursday but were still negative for the week. The Nasdaq Composite slightly outperformed, gaining about 0.4%, and has also been the best performing index this week. That outperformance for the tech-heavy index is a reversal from earlier d...
Russia’s telecom regulator blacklists Binance website
Crypto News

Russia’s telecom regulator blacklists Binance website

Authorities in Russia appear to be going after Binance — the world’s largest cryptocurrency exchange — as its domain is now in the list of prohibited websites in the country. On Sept. 24, Binance officially announced on its Russian Telegram channel that Russian telecom regulator Roskomnadzor has added the website to the register of platforms disseminating prohibited information. According to the announcement, Binance has been placed in the list due to distribution of data related to the acquisition of digital currencies like Bitcoin (BTC). Gleb Kostarev, Binance’s head of operations for Russia and the CIS, told Cointelegraph that the exchange announced the news immediately after the exchange received a notification from Roskomnadzor. Despite the domain being placed on the list of ...