Funds

Flow, one of the leading blockchains in the Web3 arena, has announced the launch of a new fund designed to spur innovation among those building apps, games, and digital assets in the Web3 space. advertisement Flow was originally developed by Dapper Labs, a Fast Company 2022 Most Innovative Company , and the company behind blockchain game hits like CryptoKitties and NBA Top Shot . Flow is currently the leading blockchain for NFT transactions. Flow’s new fund is called the Flow Ecosystem Fund and, with $725 million, is the largest ever joint endeavor aimed at expanding the blockchain ecosystem of any kind. The fund’s investors include Web3-investing heavyweights like a16z, Coatue, Union Square Ventures, Greenfield One, Coinfund, Digital Currency Group, and more. Flow says it will dole out the fund’s coffers to new and existing devs building products for the Flow blockchains, specifically focusing on those in the infrastructure, decentralized finance, gaming, … [Read more...] about Leading NFT blockchain Flow announces $725 million Ecosystem Fund to drive Web3 innovation

NAPERVILLE, Ill., : Speculators have been easing massively bullish bets in Chicago-traded grain and oilseed futures in recent weeks, though they have been hesitant to add too many shorts due to unprecedented price levels and continuing uncertainties over global supplies. That sentiment may have been confirmed late last week with the U.S. government’s first supply and demand outlooks for the upcoming year, which showed stocks remaining relatively narrow through mid-2023, especially for wheat. CBOT corn and soybean futures have softened so far this month, falling a little more than 2% in the week ended May 10. In that period, money managers cut their net long position in CBOT soybean futures and options to 130,661 contracts from 153,253 a week earlier. That capped off their largest two-week soybean selling streak since June 2021 and their net long fell to the lowest levels since January, according to data from the U.S. Commodity Futures Trading Commission. Read full story That … [Read more...] about Funds stage sizable soy, soymeal selloff ahead of USDA data

U.S. stock futures are moving higher, led by technology shares on the Nasdaq exchange, after another volatile day of trading ahead of an announcement from Federal Reserve policymakers about the future of monetary policy . Key Takeaways U.S. stock futures are moving sharply higher, led by technology shares on the Nasdaq exchange. Traders are awaiting a 2 p.m. Eastern time announcement from Federal Reserve policymakers about the future of monetary policy. Cryptocurrencies' rally continued. Oil again marched higher, and the dollar strengthened against the euro. Bond yields fell. Microsoft Corporation ( MSFT ) helped lead tech shares higher after reporting fiscal second quarter results that beat expectations while forecasting better-than-expected quarterly sales for the current quarter. Tesla, Inc. ( TSLA ), scheduled to report earnings after markets close today, is also gaining. The Dow Jones Industrial Average (DJIA) was down more than 800 points … [Read more...] about Stocks Gain as Tech Rallies and Investors Await Fed Rate Decision

U.S. equity markets are falling, with the Nasdaq sinking deeper into correction territory as shares of streaming service providers drop. Key Takeaways U.S. equity markets are falling, on their way to further weekly declines, as the Nasdaq sinks deeper into correction territory. Shares of streaming service providers are dropping after Netflix reported slowing subscriber growth. Crude oil futures are falling for a second day. The yield on the 10-year Treasury note is sinking, now at 1.76%. Netflix, Inc. ( NFLX ) is the worst-performing stock in the S&P 500, with shares plunging on its slowing subscriber growth. The news is dragging down shares of The Walt Disney Company ( DIS ) and others in the online entertainment sector. Shares of smaller banks are continuing their week-long decline, led by Huntington Bancshares Incorporated ( HBAN ) following its earnings report. Shares of Intel Corporation ( INTC ) and other semiconductor companies are higher on … [Read more...] about Nasdaq Correction Deepens as Stocks Slide on Rate Concerns

- A + A (May 16): The rupiah risks weakening to its lowest level in almost two years as Indonesia’s ban on palm oil exports adds to headwinds from interest rate hikes in the US. The currency fell to a one-year low last week, despite an assurance from the central bank that it would stabilize the currency. Technical support at its April 2021 low is now in danger and a breach of this level would pave the way for a decline to its September 2020 low. Investors are watching for further export restrictions and rising demand for the dollar, said Divya Devesh, head of Asean and South-Asia FX research at Standard Chartered Bank in Singapore. He sees the rupiah depreciating to 14,800 to the greenback by the end of June, from 14,613 on Friday. Palm oil accounted for 1.5% of Indonesia’s gross domestic product in 2021 and the prohibition on shipments could cut US$2 billion from the nation’s exports for each month it stays in place, according to estimates from Goldman Sachs … [Read more...] about Rupiah nears breach of support with palm oil ban hurting trade

- A + A (May 16): As spiraling inflation spreads across the globe, emerging-market bonds from Turkey to Thailand are feeling the brunt. Local-currency debt from developing nations -- which is far more sensitive to a country’s domestic inflationary pressures than dollar denominated equivalents — has slumped almost 9% this year, the most since at least 2008, according to a Bloomberg index. There’s unlikely to be any relief soon as central bankers around the world attempt to control surging prices by raising interest rates even more aggressively — potentially risking growth in doing so. That certainly wasn’t the plan. Many developing economies led the charge in rate hikes last year, getting ahead of policy makers in the US and hoping to avoid a redux of the 2013 taper tantrum. But with inflation raging in the US and the strong dollar pressuring currencies elsewhere, these countries are now making a new rulebook. Policy makers across emerging nations are either … [Read more...] about Bond traders reel as inflation hits world’s emerging local debt

- A + A BENGALURU/MUMBAI/ZURICH (May 16): Indian conglomerate Adani Group plans to buy Holcim AG's cement businesses in India for US$10.5 billion, its largest-ever acquisition, to become the country's No. 2 cement manufacturer. Adani Group, owned by billionaire Gautam Adani, currently has no cement-making operations but said the firms were a good fit given its ports and logistics, energy and real estate businesses. Under the deal, Adani Group will pay US$6.4 billion in cash to acquire Switzerland-based Holcim's 63.1% stake in Ambuja Cements Ltd and 54.5% holding in ACC Ltd, Holcim said in a statement announcing the deal late on Sunday (May 15). The rest of the companies' shares will be bought via an open offer, Adani said in a separate statement. "(We) will be able to build a uniquely integrated and differentiated business model and set ourselves up for significant capacity expansion," Adani said. The deal, which was clinched after a fierce bidding war with the … [Read more...] about Adani to become India’s No. 2 cement maker with US$10.5 bil Holcim deal

Perak Menteri Besar Datuk Seri Saarani Mohamad - A + A IPOH (May 16): The Perak state government has received the proposal for the construction of a highway from Gopeng to Kuala Kangsar to bypass Menora Tunnel on the North-South Expressway to reduce the rate of accidents in the state. Perak Menteri Besar Datuk Seri Saarani Mohamad said the state government supports the project of the private sector involving a route through Gopeng exit to Siputeh linked to Kuala Kangsar over a distance of 64 kilometres, has also received the green light of the Cabinet. "The distance through this road is slightly longer but it would take less time without going through the hill. The state government supports the proposal as it is under private finance initiative (PFI) and would not be using government funds. “In one year, the company has succeeded in meeting the Public Works Department and the Public Private Partnership Unit (UKAS) for further discussions. “The company has … [Read more...] about New route bypassing Menora Tunnel to reduce risk of accidents

When the Federal Communications Commission voted to institute strong net neutrality rules in 2015, it was because millions of people from across the political spectrum spoke out. If there’s one thing everyone can agree on, it’s that cable and phone companies shouldn’t be able to screw us over more than they already do, or dictate which websites and apps we can use. advertisement advertisement When the Trump administration’s notorious FCC chairman Ajit Pai repealed those Obama-era protections in 2017, the move sparked some of the largest online protests in human history. Net neutrality supporters crowdfunded billboards, protested in the streets, and drove millions of phone calls, comments, and emails to regulators and lawmakers. To this day, the FCC’s repeal of net neutrality remains the government action that received the most filed opposition comments by individual people in history. Democrats seized on this outpouring of … [Read more...] about When will Democrats deliver on their promise to restore net neutrality?

Christie Pitney is a certified nurse midwife who was working at a federally funded health center in California’s Central Valley when the pandemic struck. In those early months, several of her patients struggled to get abortions. Under normal circumstances, the closest abortion clinic is 45 minutes away, but during the pandemic, clinics around the country suffered staff shortages and canceled services. Patients were having trouble getting to clinics even when they were open. advertisement advertisement This is part of a series of articles on the business case for abortion access. See the full package here. “My patients and the population in that area, they don’t have reliable transportation. They are working six to seven days a week,” she says. “They have childcare needs and don’t have reliable income. Most of them are either working in a packing house or in the fields.” And that’s in California, one of the most accessible states to get an … [Read more...] about In a post-‘Roe’ world, abortion pills won’t be enough