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Robinhood Shares Jump 14%, Trading Halted After Report That Crypto Exchange FTX Could Buy The Company

June 27, 2022 by www.forbes.com

Share to Twitter Share to Linkedin Topline Shares of popular stock trading app Robinhood surged higher on Monday after reports that billionaire Sam Bankman-Fried’s cryptocurrency exchange, FTX, is considering a deal to buy the company just over a month after he first disclosed a stake. Key Facts One of the largest crypto trading exchanges in the world, rivaling the likes of Coinbase and Binance, FTX is internally debating how to pursue a full acquisition of Robinhood, Bloomberg first reported on Monday, citing people familiar with the matter. Shares of Robinhood spiked on the news, rising as much as 18% before getting halted for trading shortly at approximately 3:10 p.m. EDT. The stock held on to most of its gains after trading resumed at 3:15 p.m., still rising by 14% on Monday. Robinhood has yet to receive a formal takeover offer, while FTX has not made a final decision on whether to pursue the deal and could still opt out, … [Read more...] about Robinhood Shares Jump 14%, Trading Halted After Report That Crypto Exchange FTX Could Buy The Company

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Welcome to Thailand’s Post Pandemic Day – July 1. What will change?

June 28, 2022 by thethaiger.com

Between the start of this year and last Sunday, June 26, just over 2 million foreign travellers were stamped into Thailand at immigration points, mostly at 2 airports – Suvarnabhumi and Phuket. During this time the impediments to arrival in Thailand also became less restrictive. This Friday, July 1, there will be an official declaration that Thailand is now in “post pandemic” mode. The word endemic is being avoided as Thai officials believe it will be up to the World Health Organisation to make that call. Arrivals from overseas have seen some newer demographics taking up the slack since the Russian and Chinese tourists are currently in short supply. It should be noted that these numbers are TOTAL travellers arrivals, not a list of tourist numbers. • India – 220,962 There has been a renewed push for tourists out of India, a country of nearly 1.4 billion and the fastest growing middle class in the world. And only 3.5 – 5 hours flight time from Thailand airports. With the … [Read more...] about Welcome to Thailand’s Post Pandemic Day – July 1. What will change?

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Billion Dollar NFT Marketplace Magic Eden Raises $130 Million Despite Signs Of Crypto Winter

June 21, 2022 by www.forbes.com

Share to Twitter Share to Linkedin Crypto may be down, but Jack Lu and Zhouxun Yin are continuing to build. The cofounders of Magic Eden, the top Solana SOL -based NFT marketplace by market share, announced today the close of a $130 million Series B venture round. The added capital brings the company’s valuation up to $1.6 billion and is one of the first major investments to be announced since the recent crypto plunge that saw bitcoin fall below $20,000 and ether drop under $1,000. Magic Eden now becomes the third NFT marketplace to achieve unicorn status alongside $13 billion OpenSea and $7 billion LooksRare. The funding was co-led by Electric Capital and Greylock and it comes three months after the company announced its $27 million Series A in March 2022. “Magic Eden’s ability to keep pace and drive innovation in a rapidly evolving NFT market is extremely impressive,” said Avichal Garg, cofounder and managing partner at Electric Capital. “They … [Read more...] about Billion Dollar NFT Marketplace Magic Eden Raises $130 Million Despite Signs Of Crypto Winter

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Bursa ends higher in line with improved market sentiment

June 28, 2022 by www.theedgemarkets.com

- A + A KUALA LUMPUR (June 28): Bursa Malaysia closed higher on Tuesday (June 28), lifted by buying interest in most heavyweights and in line with improving market sentiment across the region, said an analyst. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.16% or 16.62 points to 1,454.74 from Monday's close of 1,438.12. The benchmark index, which opened 0.86 of-a-point firmer at 1,438.98, moved between 1,431.35 and 1,455.46 throughout the day. On the broader market, gainers led losers 470 to 410, while 420 counters were unchanged, 1,042 untraded, and 79 others suspended. Total turnover narrowed to 2.28 billion units valued at RM1.61 billion from 2.65 billion units worth RM1.43 billion on Monday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said regionally, key indices ended mostly higher as foreign funds returned to the region amid economic concerns in the United States and European Union. On the local front, he said the … [Read more...] about Bursa ends higher in line with improved market sentiment

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At an almost two-year low, DRB-Hicom is still demonstrating upside uncertainty

June 28, 2022 by www.theedgemarkets.com

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A THE share price of DRB-Hicom Bhd has been on a downward trend since December 2020, when the shortage of semiconductors became apparent the world over. Last Friday, DRB-Hicom was trading at RM1.16 — its lowest since March 23, 2020. This means DRB-Hicom is now trading at the level when stocks tumbled in reaction to the first Movement Control Order (MCO), which was implemented in March 2020 to contain the spread of Covid-19. This is in contrast to other automotive or automotive-based groups listed on Bursa Malaysia. For example, Bermaz Auto Bhd is trading at more than double the level on March 23, 2020, and MBM Resources Bhd is 38% higher than at the start of the pandemic. Shares in Sime Darby Bhd, which is also a conglomerate like DRB-Hicom, were up 43.5% last Friday compared with March 23, 2020. UMW Holdings Bhd, another conglomerate with a huge automotive … [Read more...] about At an almost two-year low, DRB-Hicom is still demonstrating upside uncertainty

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G7 agrees to explore cap on Russian oil price — communique

June 28, 2022 by www.theedgemarkets.com

G7 leaders gathering for lunch at the Schloss Elmau hotel in Elmau, Germany on Monday (June 27). The G7 leaders have also agreed to take a more coordinated approach to challenging China's 'market-distorting' practices in global trade. (Photo by Susan Walsh/Pool via Reuters) - A + A SCHLOSS ELMAU (June 28): The Group of Seven (G7) economic powers have agreed to explore imposing a ban on transporting Russian oil that has been sold above a certain price, they said on Tuesday. "We invite all like-minded countries to consider joining us in our actions," the G7 leaders said in the communique. The war in Ukraine and its dramatic economic fallout, in particular soaring food and energy inflation, has dominated this year's summit of the group of rich democracies at a castle resort in the Bavarian Alps. The G7 is looking at price caps as a way to prevent Moscow profiting from its invasion of Ukraine, which has sharply raised energy prices, taking the sting out of Western … [Read more...] about G7 agrees to explore cap on Russian oil price — communique

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Anti-hoarding campaign shows positive impact in Kapit, says KPDNHEP

June 28, 2022 by www.theedgemarkets.com

- A + A KAPIT (June 28): The anti-hoarding campaign has shown a positive impact, as no hoarding activities of controlled items have been detected since its enforcement early this year. Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) branch head Englebert Inggath Desmond Japar said in a statement on Tuesday (June 28) that a total of 2,210 premises have been inspected, adding that they have not received any complaints of hoarding activities and no cases involving the offence have been reported. He said inspections and monitoring would be carried out at every level daily involving a total of 11 KPDNHEP personnel. He warned that stern actions would be taken against suppliers, wholesalers and retailers under the Control of Supplies Act 1961, if they were found to be involved in hoarding controlled goods. He said violators can be prosecuted under the Act which carries a fine of up to RM1 million for the first offence and not exceeding RM3 million for a … [Read more...] about Anti-hoarding campaign shows positive impact in Kapit, says KPDNHEP

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Airline Flight Delays Have An Underpublicized Cause: Covid-Related Absenteeism

June 27, 2022 by www.forbes.com

Share to Twitter Share to Linkedin Looking ahead to the July 4 holiday weekend, travelers will face daunting flight cancelations and delays. How do we know? During the Juneteenth and Father’s Day holiday weekend, more than 14,000 US domestic flights were canceled due to staffing shortages. And it’s not an isolated incident: Over Memorial Day weekend, airlines canceled over 7,000 flights. The turmoil will continue. Delta announced that it will downsize its schedule by 100 flights a day between July and August. The culprit? A mix of weather, air traffic control staffing, and COVID-related absenteeism : “Increased COVID case rates contributing to higher-than-planned unscheduled absences in some work groups.” Other parts of the airline ecosystem have suffered, too; just two weeks after the end of mask mandates, the number of TSA employees contracting COVID increased by 50% . In effect, airlines face both indirect and direct staffing shortages from … [Read more...] about Airline Flight Delays Have An Underpublicized Cause: Covid-Related Absenteeism

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Aiming at jobs law, unions challenge legal basis for omnibus legislation

June 29, 2022 by www.thejakartapost.com

(The Jakarta Post) PREMIUM Jakarta   ● Wed, June 29 2022 Organized workers have registered a petition for a judicial review of the 2011 Law on the drafting of laws and regulations, which serves as the legal framework for the controversial and previously “procedurally unconstitutional” Job Creation Law. Dozens of labor organizations, including the Confederation of Indonesian Trade Unions (KSPI) and Indonesian Workers Union Association (Aspek), are backing the petition, which was registered with the Constitutional Court on Monday. The unions say the omnibus method can only be used for the combined revision of several regulations if those regulations pertain to similar matters. to Read Full Story SUBSCRIBE NOW Starting from IDR 55,500/month Unlimited access to our web and app content e-Post daily digital newspaper No advertisements, no interruptions Privileged access to our events and programs Subscription to our newsletters We accept … [Read more...] about Aiming at jobs law, unions challenge legal basis for omnibus legislation

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