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In Race for 5G, Alarm and Security Services Get Stuck in the Middle

Melissa Brinkman’s troubles are threatening to slow down AT&T’s multibillion-dollar rollout of ultrafast 5G wireless technology. Ms. Brinkman is the chief executive of Custom Alarm, a company that installs and monitors home and commercial security systems, fire detectors and personal emergency alert devices in and around Rochester, Minn. Those alarm devices were mostly designed to communicate using slower 3G wireless […]

Here Come the Crypto Rules

Making the case for stablecoins Financial regulators are racing to regulate stablecoins. These digital currencies pegged to a stable asset like the dollar are used in crypto trading, banking and decentralized finance, addressing the problem of price volatility that plagues Bitcoin and others. Stablecoins have become an important bridge between digital currencies and the traditional financial system. But despite their […]

Dollar hovers near one-week low as Evergrande questions persist

TOKYO (Reuters) – The dollar hovered above a one-week low versus major peers on Friday, taking a breather after its biggest drop in almost a month overnight, as questions lingered about the fate of embattled property giant China Evergrande Group.FILE PHOTO: U.S. dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration/File PhotoThe yen fell […]

China's southbound bond link opens amid Evergrande turmoil

HONG KONG (BLOOMBERG) – A new channel for Chinese investors to purchase debt overseas launched on Friday (Sept 24), with HSBC Holdings and Standard Chartered among the major banks completing early trades. The southbound link of the Bond Connect draws capital from the mainland to the southern city of Hong Kong to complete the loop with a northbound programme started […]

China's housing sector risks falling into bear market, Citi says

HONG KONG (BLOOMBERG) – China’s home prices are at risk of “meaningful downside” regardless of what happens to China Evergrande Group, according to Citigroup analysts, in what would be a further drag on the country’s economic growth. “It seems clear that even in an orderly restructuring, the property sector in China is likely to face downside pressures,” wrote analysts including […]

Dollar wallows near one-week low as haven demand ebbs

TOKYO (Reuters) – The dollar wallowed near its lowest level in a week versus major peers on Friday, as improved risk sentiment wiped out recent gains amid easing concerns about contagion from a potential China Evergrande Group default.FILE PHOTO: U.S. dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration/File PhotoRisk appetite returned, lifting oil […]

Ex-World Bank official defends Georgieva as magazine calls for her ouster at IMF

WASHINGTON (Reuters) – A former World Bank official who prepared reports at the center of a data-rigging scandal that aided China defended IMF chief Kristalina Georgieva on Thursday as the Economist magazine called for her to resign over her alleged role in the controversy.FILE PHOTO: International Monetary Fund (IMF) Managing Director Kristalina Georgieva makes remarks at an opening news conference […]

Ex-World Bank official defends Georgieva as magazine calls for her ouster at IMF

Nike misses estimates for quarterly revenue, shares fall

FILE PHOTO: Nike shoes are seen displayed at a sporting goods store in New York City, New York, U.S., May 14, 2019. REUTERS/Mike Segar/File Photo(Reuters) – Nike Inc missed estimates for quarterly revenue on Thursday, signaling demand for its sports shoes and apparel was slowing. Nike’s shares, which are down about 9% from their record high hit in August, fell […]

Biden’s Pick for Bank Regulator Worries Banks Are Getting Too Powerful

Saule Omarova, a Cornell law professor, has advocated a more equal share of power and success between taxpayers and big banks. By Emily Flitter President Biden has chosen Saule Omarova, a Cornell Law School professor, to lead the Office of the Comptroller of the Currency, the regulator overseeing the largest U.S. banks, the White House announced on Thursday. If confirmed, […]

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