I am closing this year with a piece dedicated to a promiseful but sneaky Supersector about which I have already discussed in two previous articles (see note 1). Let’s start with the promiseful side: in mid May, I wrote about the STOXX Supersector Europe 600 Basic Resources Index, and the possibility for this Index to continue an intermediate uptrend after the end of a retracement period that started in late February (1).
Bitcoin resumed its tumble on Thursday after South Korea said it was eyeing options including a potential shutdown of at least some cryptocurrency exchanges to stamp out a frenzy of speculation. The price of bitcoin on Thursday afternoon in Seoul fell about 8.5 per cent to Won19.93m ($18.534) on Bithumb, one of the world’s busiest virtual currency exchanges, as traders reacted to the measures. Bitcoin, the world’s biggest and best-known cryptocurrency, has fallen about 28 per cent from its record high reached last week.
On the morning of December 27, 2017, bitcoin was worth slightly more than $15,400. But Morgan Stanley analyst James Faucette said the real price of bitcoin might be $0. Business Insider reported that Morgan Stanley executive director James Faucette has reportedly sent a memo to his group’s clients that suggested the true value of Bitcoin was $0.00. Faucette’s team of analysts argue that not only is Bitcoin hard to equate to real world money, less online retailers are accepting the cryptocurrency as payment. “If nobody accepts the technology for payment then the value would be 0,” Faucette said in his analysis.
The world’s 500 richest people have increased their wealth by $1tn so far this year due to a huge increase in the value of global stock markets, which are likely to finish 2017 at record highs. The big increase in the fortunes of the ultra-wealthy comes as billions of poorer people across the world have seen their wealth standstill or decline. The gap between the very rich and everyone else has widened to the biggest it has been in a century and advisers to the super-rich are warning them of a “strike back” from the squeezed majority.
Nine lawsuits have been filed against United States multinational technology company Apple for fraud, after the company said it slowed down older iPhones to compensate for poor battery performance, Reuters reported on Wednesday. Eight of the nine lawsuits have been filed in the US District Courts in California, New York and Illinois. They seek class action against Apple to represent potentially crores of iPhone users around the United States. A similar case was lodged in an Israeli court on Monday, the newspaper Haaretz reported. Apple did not respond to an email seeking comment on the filings.
China has dominated global issuance of "green" bonds for two straight years — a trend that will likely continue as the world's top carbon-emitter tries to play a larger role to contain climate change. The Asian economic giant burst onto the scene in 2016 to take the crown as the world's largest issuer of green bonds — a debt instrument with proceeds that are used to finance activities that benefit the environment. China is set to retain its top spot in 2017.
Swiss President Doris Leuthard has said a referendum would help clarify the country’s position on its relationship with the European Union. Tensions between Switzerland and the EU have increased in recent days after the EU granted Swiss stock exchanges access to EU markets for only one year. The Markets in Financial Instruments Directive and Regulation (called MiFID II/MiFIR), will come into force on January 3. Swiss officials slammed the decision to allow access for only a year, calling it discriminatory, and threatened to retaliate.
India and Switzerland have signed a deal that would allow both to automatically share tax-related data from 2019. The Automatic Exchange of Information (AEOI) will be implemented on January 1, 2018; the first year will involve collection of data in accordance with global standards.
The U.S. Securities and Exchange Commission is expected to clear the way for music-streaming service Spotify to go public using the unusual method of a direct listing. The successful music-streaming service Spotify will release its stocks to the public in 2018 through a direct offering instead of the traditional IPO. Before Spotify can directly list its shares, the New York Stock Exchange must win approval from the SEC to change its rules. “The NYSE has applied for such a change and the SEC has indicated to Spotify it’s likely to approve,” The Wall Street Journal reported.
The caspian week conference is a meeting point of visionaries, market leaders and experts with the f
The climate transition creates opportunities and risks, and financial institutions and corporations
Seit über 30 Jahren ist die ZfU International Business School Gastgeber für die angesehensten Inve
Over 150 Fintechs CEOs from all over the world will be in both panels & interviews and on this stage
From 2018 onwards, Switzerland’s financial fair will only be open to professional investors. This
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