Month: August 2021

Google, Apple Hit by First Law Threatening Dominance Over App-Store Payments

SEOUL—Google and Apple Inc. will have to open their app stores to alternative payment systems in South Korea, threatening their lucrative commissions on digital sales.

A bill passed Tuesday by South Korea’s National Assembly is the first in the world to dent the tech giants’ dominance over how apps on their platforms sell their digital goods. It will become law once signed by President Moon Jae-in, whose party strongly endorsed the legislation.

The law amends South Korea’s Telecommunications Business Act to prevent large app-market operators from requiring the use of their in-app purchasing systems. It also bans operators from unreasonably

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Investor Guru Says Crypto Is a ‘Worthless’ Bubble

Image for article titled Billionaire Investor Who Predicted the 2008 Housing Crash Says Crypto Is a 'Worthless' Bubble

Photo: Spencer Platt (Getty Images)

John Paulson, the billionaire investor who accurately predicted (and bet against) the subprime mortgage crisis in 2007, has some kind words for cryptocurrency: mainly, that it is a vacuous financial bubble bound to eventually collapse.

“I wouldn’t recommend anyone invest in cryptocurrencies,” Paulson told Bloomberg during a recent interview.

The financier, who is retired from the hedge fund business, made close to $4 billion in 2007 when he bet against the subprime mortgage lending market—a decision that reportedly made him “one of the biggest fortunes in Wall Street history.”

During his recent

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KONE announces Anthony Beckley leader of Americas Finance

Beckley brings more than 20 years of financial experience to KONE, including full profit & loss and general management responsibilities, and proven financial transformation leadership. He’s worked across complex industrial companies and brings extensive global experience, including working in China, Morocco and five years in Mexico.

Beckley holds a Bachelor of Science in Accounting from Hampton University, a Master of Business Administration from Ohio State University and is a Certified Public Accountant.

“I’m excited to welcome Anthony to our KONE family,” says Ken Schmid, Executive Vice President for KONE Americas. “His rich experience driving financial success

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Wall Street hits new highs after Fed extends stimulus package | US economy

Share prices hit fresh records on Wall Street on Friday after the head of the US central bank, Jerome Powell, expressed concern about rocketing Covid-19 infections and gave no new clues on when the Federal Reserve would start to ease back on its stimulus programme.

Speaking at the virtual gathering of central bankers at Jackson Hole in Wyoming, the Fed chairman said that, while the economy was recovering from the pandemic, he and his fellow policymakers were carefully monitoring the impact of the Delta variant of the coronavirus.

Powell’s remarks were far less hawkish than some Wall Street analysts had

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A stock market correction may be right around the corner

But September, historically the worst month for stocks, is looming. After that comes October, which is notorious for the scary market crashes in 1929, 1987, 2008 and, most recently, 2018. And in case you haven’t noticed, there are plenty of things for investors to be worried about.

That’s led to increased worries that stocks may soon experience a so-called correction, defines as a 10% pullback from recent highs. Stocks haven’t gone through one since the Covid lockdowns in March 2020, which created a brief bear market and led to a more than 20% slide from a prior peak.

US stocks … Read More

Sheesha Finance has Parted with Former COO Benjamin Leff as

UAE, Aug. 20, 2021 (GLOBE NEWSWIRE) — (via Blockchain Wire) – Sheesha Finance (https://sheeshafinance.io/), the first comprehensive DeFi solution for investors to easily access a variety of projects while solving issues surrounding locked crypto assets, today announced:
“Sheesha Finance regrets to announce that it has parted ways with former COO Benjamin Leff as of 8th August 2021.  We thank Mr. Leff for his efforts as Sheesha developed and grew into the thriving financial community it is today.  As part of Mr. Leff’s departure, Sheesha has transitioned to a new domain sheeshafinance.io and has rolled out new and improved platforms on

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Wall Street rises as Powell gives no signal on taper

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. REUTERS/Brendan McDermid/File Photo

Aug 27 (Reuters) – Wall Street’s main indexes extended gains on Friday as Federal Reserve Chair Jerome Powell signaled the U.S. central bank will remain patient as it tries to nurse the economy back to full employment.

In prepared remarks for a speech to the Jackson Hole economic conference, Powell said the U.S. economy continued to make progress towards the central bank’s benchmarks for reducing its pandemic-era emergency programs, but stopped short of signaling the timing

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Biden Administration Likely to Approve Covid-19 Boosters at Six Months

Federal regulators are likely to approve a Covid-19 booster shot for vaccinated adults starting at least six months after the previous dose rather than the eight-month gap they previously announced, a person familiar with the plans said, as the Biden administration steps up preparations for delivering boosters to the public.

Data from vaccine manufacturers and other countries under review by the Food and Drug Administration is based on boosters being given at six months, the person said. The person said approval for boosters for all three Covid-19 shots being administered in the U.S.—those manufactured by Pfizer Inc. and partner BioNTech

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Stock market holiday: Is the stock market closed today?

NEW DELHI: Equity, currency and derivatives markets will be closed for trading on Thursday, August 19 as the Street and the nation will observe Muharram. Commodity markets will be closed for the morning session but will open in the evening.

The bourses will reopen for trading on August 20, Friday.

On Wednesday, benchmark indices hit fresh record highs in the morning trade but lost momentum at the closing, eventually ending in the red. Bank, financial services along with metals saw some selling.

The 30-share pack Sensex declined 162.78 points or 0.29 per cent to close at 55,629.49. The index traded

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