- Though a precious few may be transacting in bitcoin, many big companies like Overstock, Microsoft, Dish, and Expedia., still offer to accept it.
- A spokesperson for Microsoft told Yahoo Finance that the company does not actually take possession of bitcoin directly but instead can use bitcoin via an exchange to add money (in U.S. dollars) to a customer’s Microsoft account.
- The company uses Coinbase’s instant exchange feature to convert all bitcoin transactions into U.S. dollars.
- Like Expedia, Dish (DISH) also uses Coinbase’s exchange feature to settle payments made in bitcoin into U.S. dollars for a “low, but steady” group of customers.
- With the exception of Overstock, these companies take a conservative angle with the cryptocurrency, which is unlikely to change unless bitcoin stabilizes and turns into a more usable and predictable currency.
Here’s how the biggest companies deal with bitcoin risk — avoid it for now. Except for one, which has doubled down.
Continue reading “Big bitcoin-friendly companies like Microsoft and Expedia hedge their bet”
- The main message is that Mr Xi is responsible for crafting a new approach to foreign policy that has won China global admiration: “great-power diplomacy with Chinese characteristics”.
- Mr Xi emphasised the need for this in November 2014 in a speech on foreign affairs (official translations of which often used the words “major country” instead).
- The programmes aim to show that, unlike other rising powers in history, China (thanks to Mr Xi) has managed to maintain stable relations with established powers.
- Time and again Mr Xi is shown standing still while foreign leaders walk towards him to shake his hand.
- Mr Xi’s great-power diplomacy had clearly failed to avert a grave international crisis—one that has developed not least as a result of China sitting on its hands.
IN RECENT days government employees across China, from postal officials in the north-east to tax auditors in the south-west, have been corralled into watching state television. The Communist Party often orders bureaucrats to study propaganda.
Continue reading “God’s giftChina declares itself a global power”
- The Dow hitting yet another record high as the Fed begins a crucial policy meeting.
- And – iPhone 8 reviews coming out now – what do mixed reviews mean for the stock?
- Stocks in the red today include Rite Aid after Walgreens won approval to buy fewer Rite Aid stores that had been proposed, Under Armour as Wells Fargo downgraded shares to underperform with a $13 price target, and Tesla – shares under pressure as Jefferies initiated coverage with an underperform rating, claiming Tesla faces problems building scale.
- Stocks in the green include Bob Evans Farms as Post Holdings will buy it $1.5 billion, Michael Kors on an Oppenheimer upgrade to ‘outperform’ citing margins that could improve, and Kohl’s – shares pulling higher as the department store chain revealed it is offering free Amazon returns in 82 stores beginning in the fall.
- All eyes are on the Fed tomorrow – and while a rate hike may not be in the cards, there will be a lot to watch.
The Dow hitting yet another record high as the Fed begins a crucial policy meeting. Plus – after hours earnings with Fedex and Bed Bath Beyond – we’ll have those for you. And – iPhone 8 reviews coming out now – what do mixed reviews mean for the stock? Catch The Final Round at 3:55 p.m. with Jen Rogers
Continue reading “Stocks pushing to record highs as the Fed meets [Video]”
- Blockchain technology is on the radar of a number of tech corporations – and IBM is leading the way, according to a study.
- Big Blue has been making considerable steps forward with research and development projects aimed at broadening the scope of distributed ledger technology to include industries other than the financial services.
- Last month it announced a partnership with Nestle, Unilever, Wal-Mart and other food giants to trace the movements of food and tackle contamination faster by using the technology.
- According to research firm Juniper Research, the corporation is better positioned than competitor Microsoft as far as its blockchain credentials are concerned.
- More than 40 percent of tech executives and leaders in the blockchain sector ranked IBM as top, with only 20 percent saying the same of Microsoft.
Blockchain technology is on the radar of a number of tech corporations – and IBM is leading the way, according to research.
Continue reading “IBM far outranks Microsoft as blockchain industry leader, research says”
- To discuss the other big stories of the day, Alexis Christoforous is joined by Yahoo Finance’s Rick Newman, Justine Underhill and TD Ameritrade’s Lule Demmissie.
- Yahoo Finance’s Nicole Sinclair also interviews ZAGG CEO, Randall Hales.
Yahoo Finance’s LIVE market market coverage and analysis of stocks and bonds begins each day at 11:45 am ET.
Continue reading “Midday Movers: Yahoo Finance’s business and market news and analysis”
- Mexico would regulate its fast-growing financial technology sector, including firms that use crypto-currencies like bitcoin, to protect consumers and spur competition, under a proposed bill seen by Reuters.
- The proposed legislation, which Mexican President Enrique Pena Nieto said this month would be unveiled in the Senate before Sept. 20, seeks to ensure financial stability and defend against money laundering and financing of extremists.
- The new measures will allow Mexico to join a small list of countries, including the United States and Britain, that have sought to regulate fintech firms.
- Financial services firms envisage massive potential growth in Latin America’s No. 2 economy by reaching the more than 50 percent of Mexico’s roughly 120 million citizens without bank accounts.
- “This (legislation) recognizes the need that a sector as dynamic as that of technological innovation needs a regulatory framework that allows authorities to mitigate risks and allow for growth in a competitive environment,” the bill draft says.
Mexico would regulate its fast-growing financial technology sector, including firms that use crypto-currencies like bitcoin, to protect consumers and spur competition, under a proposed bill seen by Reuters.
Continue reading “Bitcoin: Mexico readies bill to regulate fast-growing fintech industry”
- REUTERS/Brendan McDermid
NEW YORK (Reuters) – JPMorgan Chase & Co (JPM.N) has been routing customer orders for bitcoin-related instruments, a spokesman said on Monday, despite the bank’s chief executive’s calling the crypto currency “a fraud.”
- Like other Wall Street banks, JPMorgan acts as an agent for buyers and sellers of Bitcoin XBT, an exchange-traded note designed to track the value of the crypto currency.
- JPMorgan’s relationship with Bitcoin XBT came into question over the weekend when the financial blog Zerohedge asked why the bank was involved with the trading after Chief Executive Jamie Dimon called bitcoin a fraud and said he would fire anyone at the bank who trades it.
- Bitcoin prices fell last week to nearly $3,000 from $4,200 after Dimon spoke and China reportedly cracked down on crypto currency exchanges.
- Along with JPMorgan, more than a dozen banks, including Morgan Stanley (MS.N), Goldman Sachs Group Inc (GS.N) and Credit Suisse Group AG (CSGN.S), have acted as brokers for buying and selling Bitcoin XBT on Nasdaq’s Stockholm-based exchange, according to Swedish online bank Nordnet AB.
Like other Wall Street banks, JPMorgan acts as an agent for buyers and sellers of Bitcoin XBT, an exchange-traded note designed to track the value of the crypto currency. JPMorgan does not take positions in the instrument with its own capital and routes the orders electronically to exchanges, JPMorgan
Continue reading “JPMorgan handles bitcoin-related trades for clients despite CEO warning”