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☆ The SEC ruling on Ethereum ETFs could mark a historic shift in crypto investing
▼ + stars: | 2024-06-01 | by ( Emily Glass | ) www.cnbc.com time to read: +1 min

"This is really one of the most amazing things that I've seen in my career with respect to securities regulation," van Eck told CNBC's "ETF Edge" this week. VanEck was the first to apply to the SEC for permission to list its proposed Ethereum ETF. So the first reaction was to get the ETF, Ethereum ETF approval green lighted," he said. To van Eck, the buzz around Ethereum this May means clearer regulation on the horizon and an increased investor interest in crypto. Ether spiked on the SEC's approval of applications to list Ethereum ETFs on May 23, but is virtually flat since then.

Persons: Jan van Eck, van Eck, CNBC's, VanEck, Van Eck Organizations: U.S . Securities, Exchange, SEC, ETH, Innovation, Technology, Century

☆ What the polls can’t tell us about the Trump verdict’s effect on the election
▼ + stars: | 2024-06-01 | by ( Ariel Edwards-Levy | ) edition.cnn.com time to read: +5 min

CNN —The guilty verdict against Donald Trump in his New York hush money trial is a momentous news story in itself. What’s far less clear, and what no polling can predict, is the effect it will have on voters’ willingness to support Trump in the presidential election. Fifteen percent said they’d be more likely to vote for Trump and 17% that they’d be less likely to do so. Take the roughly one-quarter of Trump supporters in the NPR/PBS/Marist poll who said that a conviction would increase their chances of supporting him over President Joe Biden. The best gauge of any immediate, tangible effect on voters’ preferences might be polls of the presidential race.

Persons: Donald Trump, That’s, –, Trump’s staunchest, Joe Biden, Trump, aren’t, ”, They’ve Organizations: CNN, Trump, NPR, PBS, Marist, Reuters, Republicans, Biden Locations: New York, Quinnipiac

☆ Bitcoin investors see sideways trading in June as focus turns to Washington
▼ + stars: | 2024-06-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

That's thanks to last week's ether-led rally ahead of the SEC's approval of a rule change allowing ether ETFs in the U.S., when ether surged 20% in two days. Now, aspiring sponsors of ether ETFs need to file their S-1 registration forms for the individual funds. Until then, crypto is without a clear catalyst, with bitcoin ETFs and the halving in the rear view window. Bitcoin miners struggle after the halving Elsewhere, the bitcoin price could see some pressure from miner selling. Market watchers anticipated this would hppen after April's bitcoin halving, which slashed a key revenue source – the block reward – for bitcoin miners.

Persons: cryptocurrency, Antoni Trenchev, Bitcoin, Trenchev, Yuya Hasegawa, Hasegawa, Julio Moreno, there's Organizations: Metrics, SEC, Federal Locations: U.S, Washington

☆ Opinion | South Africa Is Not a Metaphor
▼ + stars: | 2024-06-01 | by ( Lydia Polgreen | ) www.nytimes.com time to read: 1 min

If you want to understand why the party that liberated South Africa from white rule lost its parliamentary majority in the election this week, you need to look no further than Beauty Mzingeli’s living room. The first time she cast a ballot, she could hardly sleep the night before. “We were queuing by 4 in the morning,” she told me at her home in Khayelitsha, a township in the flatlands outside Cape Town. “We couldn’t believe that we were free, that finally our voices were going to be heard.”That was 30 years ago, in the election in which she was one of millions of South Africans who voted the African National Congress and its leader, Nelson Mandela, into power, ushering in a new, multiracial democracy.

Persons: ”, Nelson Mandela Organizations: National Congress Locations: South Africa, Khayelitsha, Cape Town

☆ Early retirees and financially independent investors share 3 IRS rules they've used to avoid taxes and improve their finances
▼ + stars: | 2024-05-31 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

Business Insider has spoken to financially independent real estate investors and early retirees who have used IRS rules to improve their financial situation. AdvertisementThough there are a lot of restrictions, it made sense for Cooper, who was fully committed to early retirement. "The longer it's sitting in there, the more money it's going to generate, the more taxes you're going to pay down the road. Zeona McIntyre uses 1031 exchanges to sidestep capital-gains taxes indefinitelyBoulder-based real estate investor and author of "30-Day Stay," Zeona McIntyre. There are ways to reduce your capital-gains tax liability, like deducting your property's depreciation.

Persons: —, Mindy, Carl Jensen, Carl, Mindy Jensen, Mindy Jensen Colorado, they've, Eric Cooper, Eric Cooper Eric Cooper, Cooper, Zeona McIntyre, Zeona McIntyre Zeona McIntyre, you'll, McIntyre, There's Organizations: Service, Business, IRS, Independence Locations: Colorado, I'm, Boulder

But in closing arguments, one of Mr. Bragg’s prosecutors said that Mr. Cohen had told his lies for Mr. Trump. After the election, Mr. Pecker testified, Mr. Trump summoned him to Trump Tower. The ShowdownEven that did not prove that Mr. Trump had falsified records to disguise his reimbursement of Mr. Cohen. Mr. Trump washed his hands of Mr. Cohen, who turned on the man he had once idolized. Mr. Blanche also argued that Mr. Cohen had profited from his hatred for Mr. Trump with two books and a lucrative podcast deal.

Persons: Donald J, Trump, Juan M, Merchan, anoints, Alvin L, Bragg, Trump’s, Stormy Daniels, Michael D, Cohen, Eduardo Munoz, Daniels, Mr, Michael Cohen, ”, Joshua Steinglass, Cohen “, ” Mr, glowered, Mike Johnson, Biden, “, Donald Trump, Dave Sanders, Biden’s, Todd Blanche, Blanche, Todd Heisler, David Pecker, Pecker, nonchalantly, Hope Hicks, Hicks, Ms, The New York Times “, Justice Merchan, “ You’re, ” Ms, Allen H, Weisselberg, Susan Hoffinger, Cohen’s, Joe Piscopo, giddily, Hoffinger, Jean Carroll, Bragg’s, Wesley Parnell, Michael Rothfeld Organizations: White, Republican, Convention, Office, Reuters, Mr, Credit, The New York Times, Democratic, New York Times, National Enquirer, Trump, Playboy, Street Journal, New, Hells Angels Locations: American, Manhattan —, Lower Manhattan, —, Florida, Washington, Georgia, New York, Manhattan, Trump’s Midtown Manhattan, Tahoe, Nev, America

☆ ‘Buy Now, Pay Later’ Borrowers Get More Safeguards With New Rule
▼ + stars: | 2024-05-31 | by ( Ann Carrns | ) www.nytimes.com time to read: +1 min

Borrowers of the popular “buy now, pay later” installment loans should find it easier to dispute charges and get refunds under a new rule announced by the federal government last week. The Consumer Financial Protection Bureau, which has been scrutinizing the alternative loans for more than two years, ruled that “buy now, pay later” lenders were credit card providers and had to offer borrowers some of the same safeguards that conventional credit cards provided. The bureau issued its findings as an “interpretive” rule, meaning it stated its own interpretation of existing law. Shoppers can get a quick approval for the loan at checkout, often with a minimal credit check, and pay zero interest. Some lenders charge late fees for missed payments, while others simply cut off borrowers from new loans until they pay.

Persons: ” Rohit Chopra, they’re Organizations: Consumer Financial Protection Bureau

☆ Right-wing media figures vow revenge after Trump‘s conviction
▼ + stars: | 2024-05-31 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

CNN —Donald Trump’s media allies are demanding retribution in the wake of his conviction. Following weeks of attacks targeting the historic hush money case against the former president, prominent right-wing media figures immediately flooded the public discourse Thursday with extreme and disturbing rhetoric after Trump was found guilty on 34 felony counts. The toxic commentary is also enflaming desires of retribution held by Trump supporters, with popular right-wing media figures openly declaring their hope that the GOP candidate to nakedly seek revenge against his critics, should he emerge victorious in November and return to the Oval Office. Some of the right’s most popular talking heads are openly calling for the weaponization of government to seek retribution against Trump’s political opponents. But as the legal walls actually begin to close in on Trump, the commentary in right-wing media is getting angrier, more menacing, and taking a markedly darker tone.

Persons: CNN — Donald Trump’s, Trump, Juan Merchan, Attorney Alvin Bragg, Joe Biden, Matt Walsh, Sean Davis, ’ Jesse Watters, “ We’re, Robert Mueller, Tucker Carlson, he’s, Laura Ingraham, ” Sean Hannity, Biden Organizations: CNN, Fox News, Trump, Manhattan, Attorney, GOP, MAGA Media, Daily, YouTube, Federalist, Fox, United, He’ll Locations: United States, Russia, Trump, China, Cuba, North Korea

☆ Opinion | ‘Trump Is Now a Felon, and That Will Matter’: 7 Writers on the Guilty Verdict
▼ + stars: | 2024-05-31 | by ( New York Times Opinion | ) www.nytimes.com time to read: +2 min

Welcome to Opinion’s coverage of the guilty verdict in the Manhattan trial of Donald Trump. It is hard to imagine that he was helped, in any way, by his constant attacks on judge, jury and the trial itself. voters to Trump, helping him win a third consecutive Republican nomination. And when Trump concealed the nature of the payments, the prosecution could easily make the case — at least to a jury — that he must have known that the payments were legally problematic. Trial outcomes are often dictated by the side that can create the most coherent narrative, and the prosecution’s theory of the case was easy for the jury to grasp.

Persons: Donald Trump, Donald Trump —, Matthew Continetti, Alvin Bragg, Trump, G.O.P, Bragg, David French, Daniels Organizations: Trump, Republican, Trumpism Locations: Manhattan

☆ US defense chief hails security partnerships in Asia in face of Russia, China threats
▼ + stars: | 2024-05-31 | by ( Brad Lendon | Nectar Gan | ) edition.cnn.com time to read: +5 min

Singapore CNN —US Defense Secretary Lloyd Austin on Saturday hailed the arrival of a “new convergence” in the Indo-Pacific, as the United States fortifies strategic and security partnerships in the region amid rising threats from China and Russia. “Today, we are witnessing a new convergence around nearly all aspects of security in the Indo-Pacific,” Austin said at the Shangri-La Dialogue security forum in Singapore. Looming large in that regional vision is a more assertive China, which Austin alluded to without mentioning it by name. Austin’s emphasis of a “new convergence” in Asia Pacific appeared to have struck a raw nerve with the Chinese delegation in the audience. Austin also reaffirmed US commitment to the Asia Pacific region, saying peace and stability across the region are crucial for the whole world.

Persons: Lloyd Austin, ” Austin, Austin, Lai Ching, “ We’ve, We’ve, we’ve, ”, Joe Biden, Xi Jinping, Cao Yanzhong, “, Mr.Putin, Dong Jun, Dong, Ferdinand R, Marcos Jr Organizations: Singapore CNN — US, Saturday, “, South China Seas, Asia Pacific, NATO, Institute of War Studies, Academy of Military Sciences of, China’s, National Defense Locations: Singapore, United States, China, Russia, Taiwan, Beijing, South China, Asia Pacific, South, Washington, Asia, Ukraine, Philippines, Philippine

☆ The far-right is set to make huge gains in European election. It could define the next five years of European politics
▼ + stars: | 2024-05-31 | by ( Luke Mcgee | ) edition.cnn.com time to read: +8 min

EU politics has always relied on awkward alliances between countries and political ideologies that represent vastly different electorates. Francois Greuez/SIPA/APThe European Parliament is the place where this is most visible at an EU level. Most of the lawmakers (known as MEPs) belong to a political party in their own country. ECR and ID are typical of European Parliament parties in that they are home to a pretty broad group of conservatives. The European Parliament can often seem like looks like a boring, bureaucratic blob, tediously grinding its way through process.

Persons: Francois Greuez, Angela Merkel, Christoph Reichwein, David Cameron, Georgia Meloni, Viktor Orban, Orban, Ursula von der Leyen, Giorgia Meloni, Hungary's Viktor Orban, –, Geert Wilders Organizations: CNN, European Union, National Rally, European, European People’s Party, EPP, European Conservatives, Politico, British, Brexit, Georgia, Ukraine, Russia EU, EU, SS, Nazi, Dursun, ERC, European Commission, Kremlin Locations: United States, South Africa, Mexico, Taiwan, Ukraine, China, EU, France, Belgian, Brussels, Hungary, Russia, Italian, Anadolu, United Kingdom, Germany, Europe, Netherlands, Europe’s

☆ Voters’ reactions: Trump trial verdict isn’t doing much to shift these voters’ 2024 picks
▼ + stars: | 2024-05-31 | by ( John King | ) edition.cnn.com time to read: +9 min

But don’t expect committed Donald Trump voters to suddenly waver because their candidate is now a convicted felon. “This does not impact my plans to vote Republican. Linda Rooney is a Haley supporter from Media, Pennsylvania, wrestling with whether to cast a reluctant Trump vote or write in the former South Carolina governor or someone else. “I looked briefly at some of those things, and it just doesn’t hold water.”Former Trump voter Joan London had a mixed take on the convictions. Lots of Biden voters I talk to.”Pat Levin, another Biden voter in Northampton County, said of the verdict: “It supports and reinforces I believe in the rule of Law.

Persons: don’t, Donald Trump, “, Billy Pierce, “ Biden, Trump, ”, Joe Biden, Andrew Konchek, Bill Clinton’s, Cohen, Who’s, Michael Cohen, Debbie Katsanos, …, I’m, Chris Mudd, ” Mudd, Betsy Sarcone, Nikki Haley, Biden, “ I’ve, ” Pierce, Konchek, —, Matt Vrahiotes, ” Vrahiotes, you’ve, I’ll, ” Jan Gardner, ” Gardner, Hillary Clinton, Devin McIver, Linda Rooney, Haley, Rooney, Irma Fralic, it’s, ” Fralic, Joan London, Michael Cohen’s, Darrell Ann Murphy, Murphy, he’s, ” Pat Levin, ” David Moore, ” Moore, Jade Gray, Nanette Mees, Joanna Brooks Organizations: CNN, Trump, Democrats can’t, Iowa Trump, America, Biden, Republican, Republican National Convention, Media, South, White House, “, University of Michigan, College Democrats Locations: Hartsville , South Carolina, Manhattan, York, New Hampshire, Iowa, Hall County , Georgia, Dunwoody, an Atlanta, Media , Pennsylvania, South Carolina, New York, Montgomery, Pennsylvania, Trump . London, London, Northampton County , Pennsylvania, Northampton County, Nogales , Arizona, Loudon County , Virginia, Milwaukee

☆ The No. 1 conversation you should never have over text message, etiquette expert says
▼ + stars: | 2024-05-31 | by ( Aditi Shrikant | ) www.cnbc.com time to read: 1 min

The etiquette around what should be a text, a phone call, or an in-person conversation can seem unclear. So much is dependent on the relationship you have with the other person and what technological era they grew up in. There is one rule-of-thumb that transcends generations, though, says Daniel Post Senning, co-author of "Emily Post's Etiquette: The Centennial Edition." "Any conversation that is likely to be emotionally charged, you want to give yourself the best chance possible to bring all your emotional tools to it," he says. Tone, volume, and body language can all help alter how a message is received and can't be conveyed over text.

Persons: Daniel Post Senning, Emily Post's

☆ Foot Locker's new price target and why we're psyched about DuPont's breakup plan
▼ + stars: | 2024-05-31 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

That would likely be enough to take on DuPont's water business if they wanted it. Foot Locker's new price target: Shares of Foot Locker are up Friday, a day after gaining 14% in response to a better-than-expected quarter against very low expectations. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. The Foot Locker logo is displayed in a store in San Francisco, California, on May 19, 2023.

Persons: Jim Cramer, it's, Bullish, Ed Breen, you'd, Breen, We've, Locker, Mary Dillon's, Jim Cramer's, Jim, Justin Sullivan Organizations: CNBC, Dell Technologies, Marvell Technology, DuPont, Nike, Jim Cramer's Charitable Locations: San Francisco , California

☆ Analysis: Trump conviction heralds a somber and volatile moment in American history
▼ + stars: | 2024-05-31 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

“Today’s verdict does not change the fact that the American people face a simple reality,” said campaign communications director Michael Tyler. Convicted felon or not, Trump will be the Republican nominee for president,” Tyler said. Supporters hold placards and flags following the announcement of the verdict in Trump's criminal trial. Or, the guilty verdict could play into Biden’s campaign theme that his predecessor is too corrupt and extreme to serve as president again. In another age, a guilty verdict would have immediately ended Trump’s campaign.

Persons: Donald Trump’s, ” Trump, foreperson, Trump, “, Joe Biden’s, ”, Michael Tyler, Donald Trump, ” Tyler, he’s, he’ll, he’d, jubilation, He’s, Biden, Andrew Kelly, ignominy, Timothy Naftali, ” Naftali, Stormy Daniels, —, Attorney Alvin Bragg, Prosecutors, Michael Cohen, Todd Blanche, CNN’s Kaitlan Collins, Eric Trump, Justin Lane, Elise Stefanik, Joe Biden, ” Stefanik, Mike Johnson, South Carolina Sen, Lindsey Graham, ” Graham, Larry Hogan, who’s, ” Hogan, Chris LaCivita, hasn’t Organizations: CNN, Trump Tower, Republican, Republican National Convention, Reuters, Trump, Manhattan, Attorney, Manhattan Criminal, New York, GOP, ”, Louisiana Republican, Senate, “ Locations: United States, New York, York, America, South Carolina

☆ Cybertruck owner says he's stuck with a vehicle that's too big for his parking spot, and Tesla won't let him return or resell it
▼ + stars: | 2024-05-31 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Last week, he posted on X, formerly Twitter, that he wants to return it, but Tesla isn't willing to buy it back or let him resell it. Tesla has refused my request to sell my recently purchased Cybertruck. The manager cited the Motor Vehicle Order Agreement with Tesla's "no resellers" policy for the Cybertruck. The manager at Tesla's Salt Lake City dealership did not respond to BI's request for comment ahead of publication. Raddon told BI that he's a rule-follower and he doesn't plan to go against Tesla's verdict on the matter or hire a lawyer to dispute the decision.

Persons: —, Blaine Raddon, Raddon, Tesla, — Blaine Raddon, Blaine Raddon Raddon, Tesla's, he's Organizations: Service, Business Locations: Bali —, Salt Lake City, Tesla's Salt Lake City

☆ All the questions you have about Donald Trump's criminal conviction, answered
▼ + stars: | 2024-05-31 | by ( Erin Snodgrass | Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Read previewFormer President Donald Trump is officially a felon. Related stories This story is available exclusively to Business Insider subscribers. Legal experts told Business Insider that Trump will more likely receive probation at his sentencing, which is set for July 11. Can Donald Trump still run for president? And he's already doubled down on trying to use Thursday's guilty verdict to his advantage.

Persons: —, Donald Trump, Joe Biden, Trump, Stormy Daniels, Michael Cohen, Daniels, Cohen, baselessly, Michael Cohen's, Trump's, Biden, Kathy Griffin Organizations: Service, Trump, Business Locations: Manhattan, New York

☆ Biden, Democrats react to Trump's guilty verdict: 'No one is above the law'
▼ + stars: | 2024-05-30 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

The Biden campaign wasted no time slamming former President Donald Trump and making a plea for campaign donations, minutes after the guilty verdict in Trump's New York hush money trial. "In New York today, we saw that no one is above the law," Biden campaign spokesman Michael Tyler said in a statement on Thursday evening. The Biden campaign echoed that statement on social media with a link to the Democratic incumbent's donation page. "Despite his efforts to distract, delay, and deny — justice arrived for Donald Trump all the same," Rep. Adam Schiff, D-Ca., said in a post on X. After the verdict, Trump denounced the trial as "rigged" and a "witch hunt" that he falsely claimed had been ordered by President Joe Biden.

Persons: Donald Trump, Joe Biden, Giorgia Meloni, Biden, Michael Tyler, Tyler, Ian Sams, Trump, Joe Biden's, Adam Schiff Organizations: Trump Organization, Court, Italy's, White, Trump, Democratic, Counsel's, Capitol Locations: New York, Manhattan, New York City, U.S, Washington , U.S, Trump's New York

☆ Opinion: Trump verdict is a pyrrhic victory for Democrats
▼ + stars: | 2024-05-30 | by ( Opinion Cnn Contributors | ) edition.cnn.com time to read: +14 min

CNN —CNN Opinion asked our contributors to weigh in on Trump’s conviction on 34 counts of falsifying business records. Are there really that many voters whose view of Trump as a man, or politician, could be altered by bookkeeping irregularities? How many would-be Trump voters will be swayed against him because of miscategorized business expenses? Instead of validating Trump’s narcissism, Democrats should turn the camera away from Trump and toward the American people. Democrats should make the case that Trump’s policies would decimate the middle class and that ought to be a (metaphorical) crime.

Persons: Patrick Brown, Patrick T, Brown, —, Trump, Attorney Alvin Bragg, ”, Biden, Robert De Niro, Stacy Schneider, Rikers Stacy Schneider, Juan Merchan, Donald Trump, I’ve, Trump’s, There’s, ” Timothy C, Tim Parlatore Tim Parlatore, Michael Cohen’s, Karen McDougal, Daniels, today’s, Timothy C, Paul Begala, ’, Roe, Wade, kowtowing, Vladimir Putin, Bill Clinton’s, Clinton, Jennifer Rodgers, Judge Juan Merchan, Prosecutors, Donald Trump’s, Merchan, Will, it’s, they’d, he’d, “, Joey Jackson, Donald, Michael Cohen, Cohen, Cohen’s Organizations: CNN, Progressives, Trump, haven’t, Attorney, Republicans, Public Policy Center, Economic, Parlatore Law, LLP, Navy, Paul Begala CNN, Social Security, Democratic, Manhattan, NYU School of Law, Columbia Law School, Republican Party, GOP, Team Trump Locations: Manhattan, Washington , DC, New York, Trump, Russian

☆ Biden remains silent after Trump verdict, but his campaign underlined the brutal months ahead of the election
▼ + stars: | 2024-05-30 | by ( Brent D. Griffiths | Erin Snodgrass | ) www.businessinsider.com time to read: +5 min

"We respect the rule of law, and have no additional comment," White House Counsel's Office spokesperson Ian Sams said in a statement to the White House press pool. Politico reported that last year, Biden directed the White House, the Democratic National Committee, and his reelection campaign to largely avoid commenting on Trump's legal cases. Advertisement"We're not here today because of what's going on over there," Biden campaign communication director Michael Tyler told reporters, according to the Associated Press. AdvertisementThe verdict comes just weeks before Trump and Biden square off in history's earliest televised major presidential debate. It is almost certain that Trump's legal issues will come up again there.

Persons: —, Joe Biden, Biden, Donald Trump's, Ian Sams, Donald Trump, Michael Tyler, Trump, I've, Donald, Robert De Niro Organizations: Service, White, Business, Counsel's, White House, Republican, Trump, Politico, Democratic National Committee, Union, Capitol, Biden, Associated Press, Top Republicans, Trump . Polling, Voters Locations: Donald Trump's Manhattan, Manhattan, Fulton County , Georgia, mugshot, history's

☆ This global fund’s stock could rally by 35% if buyback limits are removed, fund manager says
▼ + stars: | 2024-05-30 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

Caledonia Investments could see its stock price soar by more than 35% if restrictions on share buybacks are lifted, according to fund manager Brian McCormick. McCormick, who runs the Jupiter Global Value fund at Jupiter Asset Management, said Caledonia's share buybacks are limited due to restrictions in share ownership as set out in the U.K.'s Takeover Code. In addition, when the fund performs a share buyback while its stock trades below its NAV, it is buying its own assets at a 37% discount. Caledonia's buyback limits When a company buys back shares, those shares are canceled, which can increase the percentage ownership of remaining shareholders. Analysts also agree that Caledonia's limits on share buybacks right now are holding back the share price.

Persons: Brian McCormick, Philip Morris, McCormick, Robert Memmott, Iain Scouller Organizations: Microsoft, Oracle, British American Tobacco, London Stock Exchange, Jupiter Asset, CNBC Pro, London Value Investor Conference Locations: Caledonia, United States

☆ China's quest to turn the yuan into a global currency isn't actually driven by domination. It's about sanctions.
▼ + stars: | 2024-05-30 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

"Expanding the use of the renminbi in trade is less challenging than increasing its status as an international reserve currency," Liu wrote. The yuan faces challenges in its globalizationWhile the US and China's strategic competition points to a possible race for currency supremacy, the Chinese yuan is far from ready — and even Beijing knows that. AdvertisementHowever, capital controls are not necessarily a dealbreaker for the broader adoption of the yuan in trade, wrote Liu. It also shows it's not so easy to displace the mighty US dollar as the world's top reserve and trading currency of choice. A recent global survey of 1,660 enterprises showed that there is just not enough interest in using the yuan to trade.

Persons: —, Zoe Liu, Liu, Russia —, Xi, it's Organizations: Service, China Studies, Council, Foreign Relations, Business, Monetary, Financial, China's Bank of Communications, Renmin University Locations: China, Taiwan, London, Russia, Beijing, East Asia, Southeast, Central Asia

☆ Opinion | Donald Trump, Felon
▼ + stars: | 2024-05-30 | by ( The Editorial Board | ) www.nytimes.com time to read: +1 min

In a humble courtroom in Lower Manhattan on Thursday, a former president and current Republican standard-bearer was convicted of 34 felony counts of falsifying business records. The jury’s decision, and the facts presented at the trial, offer yet another reminder — perhaps the starkest to date — of the many reasons Donald Trump is unfit for office. Yet the greatest good to come out of this sordid case is the proof that the rule of law binds everyone, even former presidents. Under extraordinary circumstances, the trial was conducted much like any other criminal trial in the city. That 12 Americans could sit in judgment of the former and potentially future president is a remarkable display of the democratic principles that Americans prize at work.

Persons: Donald Trump, Trump Organizations: Republican Locations: Lower Manhattan

☆ China wants to turn the yuan into a global currency out of fear of sanctions, not domination
▼ + stars: | 2024-05-30 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Beijing's goal now is to minimize any impact from potential sweeping sanctions from the West in "extreme geopolitical scenarios," such as a military conflict over Taiwan, which China claims as its territory, wrote Liu. "Expanding the use of the renminbi in trade is less challenging than increasing its status as an international reserve currency," Liu wrote. AdvertisementHowever, capital controls are not necessarily a dealbreaker for the broader adoption of the yuan in trade, wrote Liu. It also shows it's not so easy to displace the mighty US dollar as the world's top reserve and trading currency of choice. A recent global survey of 1,660 enterprises showed that there is just not enough interest in using the yuan to trade.

☆ Jeep reveals its first EV for America
▼ + stars: | 2024-05-30 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Jeep, widely known for making rugged off-road vehicles, has unveiled its first fully electric SUV for the North American market. The Wagoneer S will test the appetite of Jeep customers for a fully electric model. It comes at a time of waning interest in electric vehicles, even as regulatory requirements for them become more stringent. The new Wagoneer S has a sleeker, more aerodynamic shape than the Jeep Wagoneer models sold today. Jeep is working on putting the Wagoneer S Trailhawk into production, Filosa said in an interview with CNN.

Persons: Antonio Filosa, that’s, Stellantis, Peter Valdes, Filosa, ”, Gilles, “ Organizations: CNN, Jeep, North Locations: Europe, Canada, .

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