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More auto chip shortage woes – Kia, Hyundai to stall production

May 17, 2021 at 04:08AM

More auto chip shortage woes – Kia, Hyundai to stall production
The global shortage of semiconductor chips is hitting automotive production particularly hard.
Hyundai and Kia says they’ll halt production of some lines on two days:

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ForexLive Asia FX news wrap: Crypto the focus again

May 17, 2021 at 03:56AM

ForexLive Asia FX news wrap: Crypto the focus again
CRYPTO news/headlines:

Forex news for Asia trading on
Monday
17
May 2021
Other:
– Re Coinbase to list DOGE – CEO expects "millions" of crypto assets to be created

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FLreports

ANZ forecast the RBNZ to start hiking the OCR in August 2022

May 17, 2021 at 03:23AM

ANZ forecast the RBNZ to start hiking the OCR in August 2022
ANZ post a preview of the Reserve Bank of New Zealand May policy meeting, due on the 26th (2pm local time, which is 0200 GMT)
We are now forecasting the RBNZ to begin raising the OCR in August 2022

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Dorsey Reaffirms Square's Commitment To Bitcoin In Tweet

Dorsey Reaffirms Square’s Commitment To Bitcoin In Tweet

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https://www.pymnts.com/blockchain/bitcoin/2021/dorsey-reaffirms-squares-commitment-to-bitcoin-in-tweet/
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Twitter and Square CEO Jack Dorsey has come out in favor of bitcoin, saying Square would always work to boost the cryptocurrency, Bloomberg says.

Dorsey said bitcoin “changes everything for the better.”

He made the tweet in what seemed to be a response to a tweet from Square Chief Financial Officer Amrita Ahuja, who said Square’s strategy had not changed.

Earlier, Financial News had quoted Ahuja as saying there would be a halting of bitcoin purchases by Square.

The company previously lost $20 million on bitcoin last quarter.

Dorsey, in a follow-up tweet, said he agreed with the idea that crypto needed to be free from any attempt to change things from one single person or institution.

To that end, bitcoin’s price fell sharply after comments from Elon Musk in which he said his company Tesla would no longer be accepting crypto payments for the company, due to environmental concerns – a reversal from a previous stance he took.

In that event, the entire crypto market lost over $365 billion.

Musk tweeted that the company was “concerned about rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” according to PYMNTS.

He added that crypto was a “good idea on many levels” but that there would have to be some reckoning with how it interacted with the economy.

The crypto market before Musk’s announcement had a value of $2.43 trillion. Three hours after his announcement, the value had dropped to $2.06 trillion, with bitcoin falling 12 percent, marking the first time that coin was valued below $50,000 since an early April rally.

That said, even with the drop, bitcoin was still up 400 percent in the last year.

Square has posted earnings which focused primarily on digital payments and bitcoin.

The trends will likely see a continuation of card-not-present transactions, which was up 24 percent year-over-year in GPV in the third quarter.

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May 17, 2021 at 03:56AM
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Atlanta Fed Forms New Committee To Advance Safe Efficient And Inclusive Payments

Atlanta Fed Forms New Committee To Advance Safe, Efficient And Inclusive Payments

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PYMNTS.com
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https://www.pymnts.com/news/financial-inclusion/2021/atlanta-fed-forms-new-committee-to-advance-safe-efficient-and-inclusive-payments/
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PYMNTS
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The Federal Reserve Bank of Atlanta has formed a new special committee to look into ways for those reliant on cash to become more integrated into a digital economy, a press release says.

“It is important to make sure that there is not just one path to financial inclusion. By focusing on payments inclusion, we hope to ensure that cash-based users and vulnerable populations are not further marginalized from innovative financial services,” said Raphael Bostic, president of the Atlanta Fed and chair of the new committee. “By bringing together people from a diverse set of backgrounds and focusing them specifically on the issue of inclusion, we expect conversations unlike others that have touched on this subject.”

The committee, according to the release, will be a collaboration between public and private sectors. It will be working to help along all-encompassing access to payments for everyone.

That will include a focus on things like digital wallets, mobile payments and person-to-person payment apps. Those types of services offer more convenience, although the release from the Atlanta Fed notes that there have been concerns raised in the past about how to include those who aren’t connected to banks or the larger economy.

The release says the Atlanta Fed’s committee will be conducting research into payments inclusion and will be collecting and analyzing data to help understand the issues better.

Then, the committee plans to make recommendations to policymakers. The committee will be active for two years and then will assess if there’s more work that needs to be done.

The issue of the unbanked and underbanked has been cropping up more, with those segments of the population seeing more difficulty than usual in the pandemic. That’s because the digital economy that has been rising up was not one that was friendly to those without ready access to a digital banking platform.

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May 17, 2021 at 03:40AM
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AT&T's Media Group Discovery In Merger Talks Report Says

AT&T’s Media Group, Discovery In Merger Talks, Report Says

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https://www.pymnts.com/news/partnerships-acquisitions/2021/atts-media-group-discovery-in-merger-talks-report-says/
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PYMNTS
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AT&T might spin off its media business to merge it with Discovery, according to Bloomberg.

This would be “surprising” for the company, Bloomberg noted, given that it just spent $85 million acquiring those assets a few years back, which include its Warner Media unit in which it owns CNN, HBO, Cartoon Network, TNT, TBS and the Warner Bros. studio.

Meanwhile, Discovery owns networks such as HGTV, Food Network and the Animal Planet.

According to the report, the companies’ idea is to combine the Discovery reality TV slate with AT&T’s large amount of media holdings.

A deal, according to sources Bloomberg spoke to, could be reached by the end of this week, though the companies have been negotiating the structure of the possible transaction.

AT&T CEO John Stankey has been selling off assets as well as cutting staff and underperforming assets. The company has been channeling funding toward its 5G developments, which will cost billions. It has also been working on its fiber-optic footprint. And the company needs money to pay off debt, which it acquired a lot of after an acquisition spree. While the company has been paying some of it off, it also has bills from a recent spectrum auction.

And with the Discovery deal, that company could gain enough of a foothold in the media to compete with Netflix and other streaming services, as the future of entertainment broadcasting begins to take shape. Discovery, along with WarnerMedia, have both made their ways into the streaming pool as of late, with Discovery putting out its Discovery+, which has a slate of unscripted reality shows.

And AT&T has put out HBOMax, which has continued adding content since debuting last year.

In regards to 5G, PYMNTS writes that AT&T has been looking toward the future of connectivity and how it will be used. AT&T Director of 5G Center of Excellence Jason Inskeep spoke with Karen Webster recently and said it would be good to look at the various brand new ways to apply it that may not have existed just a few years ago.

The 5G technology will offer new connectivity options for things like access to healthcare in remote areas.

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May 17, 2021 at 03:29AM
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FIAT GBP

[AC] 1 GBP equals 1.7074 CAD

THE RATE TODAY FOR GBP/ CAD IS 1.7074 May 16, 2021 at 04:16AM

View GBP/ CAD Chart

BY www.anycurrency.press gbp

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FIAT GBP

[AC] 1 GBP equals 1.7074 CAD

THE RATE TODAY FOR GBP/ CAD IS 1.7074 May 16, 2021 at 04:14AM

View GBP/ CAD Chart

BY www.anycurrency.press gbp

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MONEY News 經濟日報

疫情衝擊加速企業數位轉型 網軍世代成主要招募對象

疫情升溫,再更進一步加速企業數位轉型腳步,yes123求職網發言人楊宗斌表示,正值企業「數位轉型年」,積極培養接班梯隊,…
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News

ANZ forecast the RBNZ to start hiking the OCR in August 2022

May 17, 2021 at 03:23AM

ANZ post a preview of the Reserve Bank of New Zealand May policy meeting, due on the 26th (2pm local time, which is 0200 GMT)
We are now forecasting the RBNZ to begin raising the OCR in August 2022
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Author: https://www.forexlive.com/news/!/anz-forecast-the-rbnz-to-start-hiking-the-ocr-in-august-2022-20210517 Selected by SYFX+