Governor Gavin Newsom this week touted California as being the first U.S. state to create a comprehensive regulatory framework for blockchain technologies and crypto digital assets, according to a press release. Newsom signed an executive order on May 4 on cryptocurrencies which he said will “create a transparent regulatory and business environment for Web 3 companies” in the golden…
Gov. Newsom Moves to Embrace, Regulate Crypto Industry in California via Executive Order
May 5, 2022
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Treasurers Rule Out Increase to NDIS Levy
May 5, 2022
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Australiaaustralian federal electionAustralian federal election 2022Business & Economyeconomic policiesInternationalJim Chalmersjosh frydenbergWorld
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Treasurers from both major parties have ruled out increasing the Medicare Levy to control the spiralling cost of Australia’s National Disability Insurance Scheme (NDIS), which will hit $60 billion-a-year (US$42.7 billion) by 2030 and has pipped the budget of universal healthcare program Medicare. During the Treasurers Debate on May 4, incumbent Coalition Treasurer Josh Frydenberg…
Netflix Shareholders Sue Over Subscription Slump Disclosures
Netflix Inc. has been hit with a shareholder lawsuit in a U.S. court in California accusing the streaming entertainment company of misleading the market about its ability to keep adding subscribers in recent months. The lawsuit filed in San Francisco federal court on Tuesday seeks damages for declines in Netflix’s share price this year after…
Nissan Says It Will Invest More Than $700 Million in Mexico
MEXICO CITY—Japanese automaker Nissan Motor Co said on Wednesday it will invest more than $700 million in Mexico during the next three years to boost its operations in the country. The investment is set to improve the facilities, equipment and automation procedures in Nissan’s facility located in the state of Aguascalientes, the company said in…
Here’s Why Tesla Could Make a Big Move After Fed Decision
Tesla, Inc was trading down about 2 percent on Wednesday, breaking bearishly from an inside bar pattern the stock had been developing. An inside bar pattern indicates a period of consolidation and is usually followed by a continuation move in the direction of the current trend. An inside bar pattern has more validity on larger time…
Microsoft Subject to Dutch Penalties In Russia-Linked Bank Bankruptcy
A Dutch Court ordered Microsoft Corporation to allow bankruptcy trustees appointed to the Russia-linked Amsterdam Trade Bank to access its data or face damages, Bloomberg reports. Netherlands declared ATB, a lender linked to Russia’s Alfa Group, bankrupt after U.S. and U.K. sanctions paralyzed its payment systems. ATB had 23,000 private account holders and 6,000 customers in Germany. ATB, in which sanctioned billionaire…
German Regulator Imposes Tougher Rules on Facebook Owner Meta
BERLIN—Germany’s cartel office said that Meta Platforms Inc., the owner of Facebook, has “paramount significance for competition across markets,” a classification which gives the regulator more leeway to curb digital companies’ market power. Under legislation introduced by German lawmakers in early 2021, the cartel office can ban what it deems to be anti-competitive activities. Meta,…
Elon Musk’s Brother Kimbal Met Ukraine Leaders To Discuss Rebuilding Projects ‘After The War’
Kimbal Musk, the billionaire brother of Tesla Inc and SpaceX CEO Elon Musk, held meetings with Ukraine’s Vice Prime Minister Mykhailo Fedorov and his team on Tuesday to discuss rebuilding projects once the war with Russia ends. What Happened Fedorov on Tuesday revealed he had an “inspiring meeting” to discuss the joint projects for the “after the…
Starbucks Q2 Earnings Highlights: Hits Record Q2 Revenue Despite China COVID-19 Setback, More Stores Openings Planned
Restaurant and coffee powerhouse Starbucks Corp. reported second-quarter financial results after market close Tuesday. Here are the key highlights for investors. What Happened Starbucks reported second-quarter revenue of $7.64 billion, which was up 15 percent year-over-year. The quarterly revenue was a second-quarter record for the company and came in ahead of a consensus estimate of…
AMD Reports Record Performances All Around in Beat-And-Raise Q1, Stock Rallies
Advanced Micro Devices, Inc. reported record first-quarter revenue and non-GAAP net income that comfortably beat estimates. The chipmaker’s results reflected across-the-board strength, led by higher Ryzen and EPYC processor sales and solid semi-custom revenue. The company raised its full-year revenue guidance, citing strong contributions from Xilinx and server and semi-custom segments. AMD’s Key Q1 Metrics…
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