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Business News

Location American Business News for 7 June 2023

Helicopter Parents Show Up in the Workplace

Wall Street Journal - 7 Jun 2023 11:30
Helicopter Parents Show Up in the Workplace Anxious parents are filling out job applications, appearing at interviews and mediating workplace conflicts; 'my mom doesn't think it's a good idea'
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China's EV Juggernaut Is a Warning for the West

Wall Street Journal - 7 Jun 2023 06:01
China's EV Juggernaut Is a Warning for the West It wasn't just a big hand from the state; competitive pressure and creativity have made Chinese-designed and -built electric cars formidable competitors.
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JPMorgan CEO Jamie Dimon says consumers are in 'great shape' but the economy will face headwinds down the road US consumers are in great shape but the economy will face headwinds down the road, the JPMorgan CEO said.
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Coinbase Was Dismissed by the US SEC After Months of Figuring Out How To Register, Chief Legal Officer Says Coinbase was dismissed by the US Securities and Exchange Commission with no response after months of discussing how to register with the agency, the crypto exchange's chief legal officer told lawmakers on Tuesday. Paul G...
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Salesforce CEO Marc Benioff and his fast-rising COO Brian Millham tell us where the software giant is headed after 'a difficult time' 'We obviously went through a difficult time, but I also think we're seeing some rebirth in a lot of ways in our culture," Millham said.
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Chinese Yuan, Euro, Digital Currencies Challenge US Dollar Dominance, TD Economist Says A senior economist at financial services firm TD says the Chinese yuan, the euro, and digital currencies could erode the U.S. dollar's dominance. "Several countries have shown frustration with the dominance of the dollar...
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Apple could be a $4 trillion company by the end of 2025 as the tech giant is 'playing chess while others play checkers,' Wedbush says Wedbush raised its 12-month price target on Apple stock to $220 from $205, implying 23% upside within the next year.
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Economics of Bitcoin ATM market could hinder wider adoption Bitcoin of America's shutdown in Connecticut highlights the obstacles for companies operating crypto ATMs.
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L.A. County residents struggling with more than $2.6 billion in medical debt One in 10 residents in Los Angeles County are burdened by medical debt. And the uninsured aren't the only ones vulnerable to debilitating health bills.
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The nation's trade deficit jumped 23% in April to a six-month high of $74.6 billion, reflecting an increase in imports such as cell phones and foreign autos.
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SEC Sues Biggest Names In Crypto, Binance And Coinbase, In Double Whammy For Sector The Securities and Exchange Commission (SEC) showed it isn't pulling punches by going after the two most prominent names in the business, Binance and Coinbase.
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Shock as FTSE 100 boss dies just weeks before retirement The long-time boss of FTSE 100 firm Diageo has died just weeks before he was due to retire.
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Real-estate billionaire Jeff Greene warns the US economy is headed for trouble - and house prices may tumble Jeff Greene, who made a fortune betting against the mid-2000s housing bubble, expects higher interest rates to hammer several parts of the economy.
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Research Shows Majority of Pepe Investors Caught in High-Stakes Game of Musical Chairs The majority of investors did not stand to gain from Pepecoin's herculean rise, indicating a limited window for potential gains.
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E-commerce Companies Should Care that the FTC is Targeting False AI Claims In the wake of OpenAI's explosion in popularity, every other ecommerce and marketing technology company appears to be hitting the market claiming to have an artificial intelligence solution. But the Federal Trade Commiss...
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The US government just declared war on crypto

Business Insider - 7 Jun 2023 13:00
The US government just declared war on crypto The SEC shook up the world of crypto by filing lawsuits against two of the biggest crypto exchanges in the world. It won't be pretty.
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Russian Prosecutors to Gain Crypto Confiscation Powers - But There's a Wrinkle The Russian Prosecutor-General is set to let investigators confiscate crypto and liquidate criminals' tokens, with the Treasury hoping to benefit. But legal experts say the plan could hit a roadblock when prosecutors try...
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Bitcoin Life Insurance Startup Raises $19M in Seed Rounds Led by Sam Altman and Gradient Ventures Meanwhile, a life insurance company that uses bitcoin, has accumulated $19 million through two seed funding rounds. The first round was led by Openai CEO Sam Altman and former Stripe executive Lachy Groom, while Google�...
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Who Is Brian Armstrong? Coinbase CEO Is Taking On the SEC

Wall Street Journal - 7 Jun 2023 06:01
The biggest U.S. cryptocurrency exchange's long-running clash with regulators is coming to a head.
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Binance Records Significant Outflows of BTC, ETH, and Stablecoins Exceeding $1.45 Billion Binance, the world’s largest cryptocurrency exchange by trade volume, saw significant outflows of bitcoin, ethereum, and stablecoins starting on June 3, 2023, according to data from cryptoquant.com. In the past 68 hour...
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Economist Discusses BRICS Currency's Prospect of Becoming Global Currency Economist Alexis Habiyaremye from the University of Johannesburg says that a proposed common BRICS currency, if used effectively and systematically for all trade transactions between BRICS nations, would "alleviate the b...
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Economists expect China's stimulus package to focus on the property sector amid continued weak economic data.
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