While governments ponder legalization or continue to reaffirm existing bans on the use of bitcoin, larger e-commerce giants may not care. Speculation built over the weekend that Amazon.com Inc. was considering introducing support for bitcoin payments as soon as October.
Ratings agency Moody's downgraded Britain's credit rating by a further notch, saying the government's plans to fix the public finances had been knocked off course and Brexit would weigh on the economy. Moody’s brought the UK’s credit rating down from an Aa1 rating to an Aa2 rating over the weekend amid fears its public finances were not going to do well as a result of Brexit.
Air France formally launched on Monday its new “Joon” lower-cost airline, which the company hopes will attract a younger clientele and restore some routes to profitability. Air France said on Monday that Joon would start off by flying to six destinations. Joon is “especially aimed at a young working clientele, the millennials (18- to 35-year-olds), whose lifestyles revolve around digital technology,” Air France said in a statement, without elaborating on what new technology would be deployed.
Best global brands of 2017 list was released on Monday by Interbrand, a brand consultancy based in the US. Technology companies dominated the top 20 spaces on the list with Apple Inc once again emerging as the number one brand. The report shows technology is the dominant sector, with tech giant Apple securing the highest rank as the world’s most valuable brand for the fifth year running, while Google retains its second place for the fourth year in a row. The top 100 brands have a combined total value of $1,872bn, an increase of 4.2% from 2016.
Swiss voters have thrown out plans to reform the creaking state pension system, highlighting the difficulties even prosperous western European countries face adapting welfare regimes to cope with ageing populations. Authorities pushing the first serious reform of the pension system in two decades had warned that old-age benefits were increasingly at risk as life expectancy rises and interest rates remain exceptionally low, cutting investment yields.
In January, I wrote an article about the situation of the Stoxx 600 Index, indicating that it had a good strength and that some pattern studies suggested that the Index could lead to a probable formation of a higher low before to start a new uptrend leg (1). In reality the retracement begun later: the bullish short term trend easily crossed the down trend line (b), the resistance level of the previous 2015 high, situated at Fibonacci level of 23,6% (a), and topped in May with an higher high (H1). Then we had a retracement that apparently stopped at the 38.2% Fibonacci level, forming the aforementioned higher low (L1). The oscillator also turned upward after touching the zero line (c).
The BBC reported Friday banks and building societies in the UK will carry out checks from January to see if account holders are in the UK legally or not. The BBC quoted The Guardian as saying 70 million accounts will be looked at quarterly. The BBC said financial institutions will be provided with a list from anti-fraud organisation Cifas on people who are liable for removal or deportation from the UK or who have absconded from immigration control, and these organisations will then have to report anyone they discover and freeze or close the accounts.
Uber is to be sensationally stripped of its licence to operate in London in a huge blow to the ride-hailing firm. The firm, which is used by 3.5 million people and 40,000 drivers in London, said the licence decision "would show the world that, far from being open, London is closed to innovative companies". A Transport for London (TfL) spokesman said: "Uber's approach and conduct demonstrate a lack of corporate responsibility in relation to a number of issues which have potential public safety and security implications."
In result of combination of technical factors and fundamental events, the currency pair made a turn around and broke though the bottom boundary of a previously dominant ascending channel. From technical point of view, the rate encountered a resistance level formed by the monthly R2 at 112.54 and the upper boundary of a long-term falling wedge.
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