Marcus stated: We can then branch out and offer a variety of other financial services in partnership with respected and well-regulated partners, and expand from there. Facebook did not specify a launch date. It also did not give information on which coins the wallet would hold. David Marcus, who is the head of F2 or…
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What to watch US consumer sentiment data: On Friday, preliminary consumer sentiment data for December will be released by the University of Michigan. The index came in at 76.9 for November, and consensus expectations for December are a small decline to 76.5. The US economy is heavily dependent on consumer spending, which accounts for 70%…
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What to watch Adobe: Software firm Adobe has added almost 50% to its share price in 2020, and has held up over the past three months while some tech names have faltered. The firm delivers its latest set of quarterly earnings on Thursday, where analysts are anticipating an earnings per share figure of $2.66. Key…
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FTSE 100 back below 6,000 on struggling banks and US economic woes Financial firms led the FTSE 100 2.3% lower on Thursday amid profit warnings from Lloyds Bank, the UK’s largest retail bank, and jitters caused by dire GDP data from Germany and the US. The FTSE 250 meanwhile was down a more modest 1.3%.…
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PayPal CEO says ‘no going back’ from pandemic induced e-commerce surge Boeing’s earnings report appeared to take airline stocks down with it yesterday, as American Airlines and United Airlines both sank by around 3% on a day where the broader market soared. The Nasdaq Composite was up 1.4%, helped higher by names including AMD, PayPal…
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Overall, US markets enjoyed a significant rally on Wednesday, with the S&P 500 gaining 2.7%. Notably, the Nasdaq Composite is now less than one percentage point away from being back to where it started 2020. The Nasdaq was led higher by 8% plus gains from Micron, Marriott, Alphabet (Google’s parent) and Align Technology. S&P 500:…
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Initially, the Libra network will operate with four stablecoins, based upon the U.S. Dollar, the English Pound, the Euro, and the Singapore Dollar. The composite Libra Coin will be pegged to these four currencies by a formula endorsed by the IMF to conform to its structure of drawing rights. This major change will greatly enhance…
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Although Facebook is going forward with their cryptocurrency project Libra (although it was delayed several times), some of the project's key members have continued to leave. After Mastercard and PayPal withdrew as members of the Libra Association, Vodafone is the latest member to leave Facebook's cryptocurrency project. The news comes directly from The Libra Association…
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Libra is going full force with new roadmap for its 2020 launch. While regulatory concerns may have delayed the plans of Facebook to launch its cryptocurrency project, the company has designed a new plan for the upcoming start of Libra. The information about the second roadmap comes from a blog post from Libra's developers. They…
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It is often said that U.S. Congressmen live within a “Washington D.C. Bubble”, especially when it comes to understanding technology. The abrasive reaction toward both Mark Zuckerberg and David Marcus and their Libra initiative was defintely over the top. One Congressman was moved to say succinctly: This is the government putting the very concept of…
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