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Franklin Templeton India's trustee and CEO fined for violating rules
  + stars: | 2021-06-14 | by ( Abhirup Roy | Aditya Kalra | ) www.reuters.com sentiment -1.00   time to read: +2 min
FILE PHOTO: The logo of the Securities and Exchange Board of India (SEBI), India's market regulator, is seen on the facade of its head office building in Mumbai, India, July 13, 2015. REUTERS/Shailesh Andrade/File PhotoMUMBAI (Reuters) - India’s market regulator fined Franklin Templeton India’s trustee, chief executive and officials, including fund mangers, on Monday for violating rules while overseeing credit funds that unexpectedly shut down last year. The trustee - Franklin Templeton Trustee Services - said in a statement to Reuters that it disagreed with SEBI’s findings and intended to appeal. In a separate statement, Franklin Templeton said its employees acted “in compliance with regulations and in the best interest of unitholders”. Commenting on the trustee, SEBI said in its 151-page order that it “failed to render at all times high standards of service, exercise due diligence, ensure proper care and exercise independent professional judgment”.
Persons: Shailesh Andrade, Franklin Templeton India’s, Sanjay Sapre, Franklin Templeton, unitholders ”, Franklin, SEBI Organizations: Securities and Exchange Board of India, REUTERS, Securities, Exchange Board of India, Franklin India, Franklin, Franklin Templeton Trustee Services Locations: Mumbai, India, MUMBAI
PRECIOUS-Gold slides as much 1.7% on fears of U.S. Fed taper hints
  + stars: | 2021-06-14 | by ( Nakul Iyer | ) www.reuters.com sentiment -1.00   time to read: +2 min
Spot gold fell 0.7% to $1,864.36 per ounce by 10:18 a.m. EDT (1418 GMT) after hitting its lowest since May 17 at $1,848.49. “There’s the possibility that the Fed may indicate that they’re going to start tapering, which should weigh in on gold,” Streible said. “We see risks for further weakness in prices as (Fed) taper talk saps interest in the yellow metal at a time when flows are not particularly supportive,” TD Securities analysts said in a note. Speculators reduced their net long positions in COMEX gold in the week ended June 8 and raised their net long positions in silver. Palladium dropped 0.2% to $2,769.93, while platinum rose 1.7% to $1,169.00.
Persons: Phillip Streible, , ” Streible, ” Heraeus, Nakul Iyer, Steve Orlofsky Organizations: U.S . Federal, Blue, TD Securities Locations: Chicago, Bengaluru
PRECIOUS-Gold slips as investors fear U.S. Fed taper hints
  + stars: | 2021-06-14 | by ( Nakul Iyer | ) www.reuters.com + 0.00   time to read: +2 min
Spot gold fell 0.7% to $1,864.04 per ounce by 12:29 p.m. EDT (1629 GMT) after hitting its lowest level since May 17 at $1,848.49. “There’s the possibility that the Fed may indicate that they’re going to start tapering, which should weigh on gold,” Streible said. “We see risks for further weakness in prices as (Fed) taper talk saps interest in the yellow metal at a time when flows are not particularly supportive,” TD Securities analysts said in a note. Speculators reduced their net long positions in COMEX gold in the week ended June 8. Elsewhere, silver was up 0.2% at $27.94 per ounce, while palladium fell 0.7% to $2,755.89 and platinum rose 1.2% to $1,164.15.
Persons: Phillip Streible, , ” Streible, Nakul Iyer, Steve Orlofsky, Matthew Lewis Organizations: U.S . Federal, Blue, TD Securities Locations: Chicago, Bengaluru
Software startup Sprinklr targets $5 billion valuation in U.S. IPO
  + stars: | 2021-06-14 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
(Reuters) - Software startup Sprinklr said on Monday it was looking to raise as much as $380 million through a U.S. initial public offering (IPO), targeting a valuation of about $5 billion. The company, whose customers include Microsoft Corp and McDonald’s Corp, said in a regulatory filing it planned to sell 19 million shares priced between $18 and $20 per share. The company’s revenue rose 19% to $111 million in the three months ended April 30, 2021. Its net loss, however, widened to $14.7 million from $11.2 million in the period. Morgan Stanley, J.P. Morgan, Citigroup, Barclays and Wells Fargo Securities are the lead underwriters for the offering.
Persons: Ragy, Morgan Stanley, J.P Organizations: Reuters, U.S, Microsoft Corp, McDonald’s, New York Stock Exchange, Citigroup, Barclays, Wells, Wells Fargo Securities, underwriters Locations: New Jersey, Morgan, Wells Fargo
SEC Hires Boston College Professor as Top Corporate Regulator
  + stars: | 2021-06-14 | by ( Dave Michaels | ) www.wsj.com + 0.67   time to read: +1 min
WASHINGTON—The Securities and Exchange Commission said it had hired Renee Jones, a Boston College law professor, as its top staff regulator of public companies. The division has a leading role in drafting a planned rule proposal that would require public companies to reveal more about the risks and impacts of climate change on their business. Ms. Jones, 56 years old, will replace the division’s acting director, John Coates, also 56, who will take over as the agency’s general counsel, the SEC said in a news release. Ms. Jones, a graduate of Harvard Law School, has taught classes on securities regulation, corporate governance and financial regulation. Ms. Jones wrote in a law review article in 2010 that while the financial crisis had damaged the SEC’s credibility, the regulator was likely to emerge “as a stronger and more capable regulator.”Write to Dave Michaels at dave.michaels@wsj.com
Persons: WASHINGTON, Renee Jones, Jones, John Coates, Dave Michaels Organizations: The Securities, Exchange Commission, Boston College, SEC, Harvard Law School
Online grocery retailer Boxed to go public via $900 million SPAC deal
  + stars: | 2021-06-14 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
(Reuters) - Online bulk grocery retailer Boxed Inc said on Monday it would go public through a merger with blank-check firm Seven Oaks Acquisition Corp, in a deal valuing the equity of the combined firm at around $900 million. The deal is expected to provide Boxed with about $334 million in net cash proceeds, including a $120 million private investment from investors such as Brigade Capital Management, Avanda Investment Management and Onex Credit. Seven Oaks, a so-called special purpose acquisition company, or SPAC, raised nearly $260 million through an initial public offering (IPO) last year. SPACs are shell companies that raise funds through an IPO to take a private company public through a merger at a later date. Citi and PJ Solomon are serving as financial advisors to Boxed, while Wells Fargo Securities, Nomura and JonesTrading Institutional Services are acting as capital markets and financial advisors to Seven Oaks.
Persons: PJ Solomon Organizations: Reuters, Oaks, Corp, Brigade Capital Management, Avanda Investment Management, Onex, Seven, Citi, Wells, Wells Fargo Securities, Nomura, JonesTrading Institutional Services, Seven Oaks Locations: Wells Fargo
Triller owner prepares direct listing amid social media pivot - sources
  + stars: | 2021-06-14 | by ( Echo Wang | ) www.reuters.com sentiment -1.00   time to read: +2 min
Unlike with a traditional initial public offering, TrillerNet would not sell any shares in its direct listing, which could come as early as September, the sources said. The company plans to register its direct listing confidentially with the U.S. Securities and Exchange Commission next month, hoping stock market investors will value it at more than $5 billion, according to that source. Launched in 2015, Triller has been diversifying beyond short video apps to live events, mobile gaming and pay-per-view streaming. In a sign it no longer views itself as a direct competitor to TikTok, Triller stopped reporting daily or monthly active users for its short video app. TrillerNet also owns Triller Fight Club, a live-event platform in partnership with rapper Snoop Dogg and operates TrillerTV, a long-form content streaming platform with more than 65 original shows.
Persons: TrillerNet, Triller, Amplify.ai’s, Mahi de Silva, Snoop, Paul Kahn Organizations: Reuters, U.S . Securities, Exchange Commission Locations: Ukraine
Energy stocks boost British shares ahead of reopening decision
  + stars: | 2021-06-14 | by ( Devik Jain | Amal S | ) www.reuters.com sentiment -1.00   time to read: +2 min
(Reuters) - British shares ended higher on Monday, helped by gains in heavyweight energy stocks, while investors awaited the government’s decision on whether it would delay England’s complete reopening from a third national lockdown. FILE PHOTO: A man shelters under an umbrella as he walks past the London Stock Exchange in London, Britain, August 24, 2015. Health minister Matt Hancock will update parliament at around 1930 GMT after Johnson addresses the public at a news conference. Travel-related stocks fell 1.4%, with International Consolidated Airlines, Compass Group, Just Eat Takeaway.com and InterContinental Hotels Group among the top decliners. Among stocks, outsourcer Serco Group jumped 4.6% after it raised its 2021 profit outlook.
Persons: Suzanne Plunkett, Boris Johnson, Matt Hancock, Johnson, , Keith Temperton, Russ Mould, AJ Bell Organizations: Reuters, London Stock Exchange, REUTERS, BP, Royal Dutch Shell, Forte Securities . Travel, International Consolidated Airlines, Compass Group, InterContinental Hotels Group, , Serco, ITV Locations: London, Britain, England, British
S.Korean stocks edge up to end at record high, Fed meeting in focus
  + stars: | 2021-06-14 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
** Both the Korean won and the benchmark bond yield fell. ** Foreigners were net sellers of 24.8 billion won ($22.21 million) worth of shares on the main board. ** In money and debt markets, June futures on three-year treasury bonds fell 0.03 point to 110.87. ** The most liquid 3-year Korean treasury bond yield fell by 0.8 basis point to 1.268%. ($1 = 1,116.6500 won) (Reporting by Joori Roh, additional reporting by Jihoon Lee; editing by Uttaresh.V)
Persons: , Seo Sang, 1,116.6500, Joori Roh, Jihoon Lee Organizations: U.S, Korean, Samsung Electronics, SK Hynix, LG Chem, Federal, Market, Mirae Asset Securities Locations: Korea, SEOUL, Korean, U.S, Federal, United States, China
Indian shares fall as Adani stocks weigh; CPI data eyed
  + stars: | 2021-06-14 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, December 11, 2018. REUTERS/Francis Mascarenhas/File PhotoBENGALURU (Reuters) - Indian shares on Monday retreated from record highs hit in the previous session, weighed down by Adani Group stocks, with investors awaiting consumer price inflation data (CPI) for May due later in the day. All Adani Group stocks, including Adani Enterprises Ltd and Adani Ports and Special Economic Zone Ltd, opened sharply lower after the Economic Times reported here that the National Securities Depository Ltd had frozen the accounts of three foreign funds that have a total investment of 435 billion rupees in Adani group companies. Investors now eye the CPI data, with a Reuters poll showing that the country’s retail inflation likely rose last month after a three-month low in April on higher food and energy prices. The central bank has assured that rising inflation will not last long enough to warrant a sooner-than-expected end to easy-money policies.
Persons: Francis Mascarenhas Organizations: REUTERS, Adani Group, BSE Sensex, Adani, Adani Enterprises, Economic, Ltd, Economic Times, National Securities Depository Ltd, Coal India, U.S Locations: Mumbai, India, BENGALURU, COVID, U.S . Federal
Indian shares end higher as Reliance gains; inflation data in focus
  + stars: | 2021-06-14 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
REUTERS/Francis Mascarenhas/File PhotoBENGALURU (Reuters) - Indian shares closed higher on Monday, boosted by conglomerate Reliance Industries Ltd and software major Infosys Ltd, while investors eyed more inflation data due later in the day. The blue-chip NSE Nifty 50 index ended 0.08% higher at 15,811.85, while the benchmark S&P BSE Sensex rose 0.15% to 52,551.53 at close. In Mumbai trading, Reliance Industries and Infosys were among the top performers on the Nifty 50, gaining 1.4% and 0.9%, respectively. Reliance shares have gained in five of the last eight sessions. Limiting gains was top Nifty 50 loser Adani Ports and Special Economic Zone Ltd, which slumped 8.5%.
Persons: Francis Mascarenhas, Lupin Organizations: REUTERS, Reliance Industries Ltd, Infosys Ltd, BSE, Reliance Industries, Infosys, Reliance, Economic, Ltd, National Securities Depository Ltd, Economic Times, Adani Enterprises, U.S . Food, Drug Administration, U.S Locations: Mumbai, India, BENGALURU, U.S, New Jersey, U.S . Federal
S.Korea stocks flat as investors await cues from Fed meeting
  + stars: | 2021-06-14 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +2 min
The Korean won and the benchmark bond yield weakened. ** The benchmark KOSPI was flat at 3,248.14, as of 0214 GMT. ** The won was quoted at 1,116.0 per dollar on the onshore settlement platform , 0.47% lower than its previous close at 1,110.8. ** In offshore trading, the won was quoted at 1,115.9 per dollar, unchanged from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,115.3. ** The most liquid three-year Korean treasury bond yield fell by 1.5 basis points to 1.261%, while the benchmark 10-year yield fell by 0.6 basis points to 2.095%.
Persons: jitters, Han Ji, 1,115.8100, Joori Roh, Sherry Jacob, Phillips Organizations: U.S, Federal, Korean, Samsung Electronics, SK Hynix, LG Chem, Federal Open Market, Kiwoom Securities Locations: Korea, SEOUL, Korean, U.S, United States
World stocks near record high as investors await dovish Fed act
  + stars: | 2021-06-14 | by ( Hideyuki Sano | ) www.reuters.com + 0.00   time to read: +4 min
REUTERS/Kim Kyung-HoonGlobal shares held firm near record highs on Monday while U.S. bond yields flirted with three-month lows as investors expect the Federal Reserve to stick to its dovish mantra later this week. The MSCI all-country world equity index (.MIWD00000PUS), the U.S. S&P 500 (.SPX) and the pan-regional STOXX Europe 600 index (.STOXX) all closed at record highs on Friday. Many investors expect the Fed to repeat its dovish view at its two-day meeting from Tuesday. "There will probably be no surprise from the Fed this week," said Mitsubishi UFJ's Fujito. U.S. West Texas Intermediate (WTI) crude futures added 0.2% to $71.05 per barrel, near their highest since October 2018.
Persons: Kim Kyung, Norihiro Fujito, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Treasuries, Akira Takei, Boris Johnson's, Johnson Organizations: Nikkei, REUTERS, Hoon Global, Federal Reserve, Japan's Nikkei, U.S . Federal Reserve, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, Asset Management, European Central Bank, British, Brent, . West Texas, Thomson Locations: Tokyo, Japan, Asia, Pacific, China, Hong Kong, Australia, U.S, Europe, India
Stocks wait at record peaks for Fed; oil marches higher
  + stars: | 2021-06-14 | by ( Hideyuki Sano | ) www.reuters.com + 0.00   time to read: +4 min
Japan's Nikkei (.N225) rose 0.7% while MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.2%. The MSCI world equity index (.MIWD00000PUS), the U.S. S&P 500 (.SPX) and the pan-regional STOXX Europe 600 index (.STOXX) all closed at record highs on Friday. "Yes, PPIs are racing higher, but will that be reflected in higher consumer goods prices from China? Certainly, that's what the U.S. bond market is saying to us." Speculators are also building up long positions in U.S. debt, with their net long positions in U.S. bond futures hitting the highest level since October 2017 , U.S. financial watchdog data showed.
Persons: Athit, Jeffrey Halley, Treasuries, Akira Takei, Norihiro Fujito, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Boris Johnson's, Johnson, Bitcoin Organizations: REUTERS, Federal Reserve, Japan's Nikkei, U.S . Federal Reserve, Oil, Asset Management, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, European Central Bank, British, Brent, Elon Musk, Thomson Locations: Tokyo, Japan, Asia, Pacific, China, Hong Kong, Australia, U.S, Europe
India's Adani shares slump after freeze placed on foreign funds
  + stars: | 2021-06-14 | by ( Sudarshan Varadhan | ) www.reuters.com sentiment -1.00   time to read: +2 min
The logo of the Adani Group is seen on the facade of one of its buildings on the outskirts of Ahmedabad, India, April 13, 2021. The NSDL has frozen the accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund, its website shows without citing a reason for the freeze. A rally in the shares of Adani Group companies had made its Chairman Gautam Adani the second richest Asian, behind only Mukesh Ambani, chairman of oil-to-telecom conglomerate Reliance Industries. Shares of Adani Enterprises (ADEL.NS) have risen more than 10-fold over the past year ending Friday, while Adani Transmission (ADAI.NS) shares have gained more than eight-fold and Adani Total Gas Ltd shares are up 1,114% over the same period. The funds have an investment of 435 billion Indian rupees ($6 billion) in Adani group companies, according to the report.
Persons: Amit Dave, Gautam Adani, Mukesh Ambani, Adani, NSDL Organizations: Adani, REUTERS, National Securities Depository Ltd, Adani Enterprises, Albula Investment, Cresta, APMS Investment Fund, Adani Group, Reliance Industries, Total Gas Ltd, Adani Ports, Economic Times, Thomson Locations: Ahmedabad, India
Electric truck maker Lordstown Motors shares slide after CEO and CFO resign
  + stars: | 2021-06-14 | by ( Michael Wayland | ) www.cnbc.com sentiment -0.99   time to read: +2 min
Lordstown Motors Corp Chief Executive Steve Burns poses with a prototype of the electric vehicle start-up's Endurance pickup truck, which it will begin building in the second half of 2021, at the company's plant in Lordstown, Ohio, U.S. June 25, 2020. Lordstown said its lead independent director, Angela Strand, has been appointed executive chairwoman and would oversee the firm's transition until a permanent CEO is identified. Shares of Lordstown, which went public through a special purpose acquisition company, or SPAC, in October, slid by about 13% during premarket trading. Lordstown Motors said Monday that CEO Steve Burns and CFO Julio Rodriguez have resigned, days after the electric truck maker warned that it had "substantial doubt" about its ability to continue as a going concern in the next year. Hindenburg accused Lordstown in a March report of using "fake" orders to raise capital for its Endurance electric pickup.
Persons: Steve Burns, Lordstown, Angela Strand, Becky Roof, Lordstown Motors, Julio Rodriguez, Hindenburg, Strand, Organizations: Lordstown Motors Corp, Lordstown, Hindenburg, U.S . Securities, Exchange Commission, SPAC DiamondPeak Holdings, SPACs, General Motors, – Reuters Locations: Lordstown , Ohio, U.S, Ohio
The resignations were announced after the struggling carmaker released the results of an investigation into an investor’s report on the company’s viability. The resignations are effective immediately, and Lordstown has hired an executive search firm to find their replacements. Mr. Burns was the driving force behind Lordstown — founding the company just months after he stepped down as chief executive at Workhorse, another electric vehicle company. The company said on Monday that it had appointed its lead independent director, Angela Strand, as executive chairwoman while it looks for a permanent chief executive. Lordstown, in announcing last week it may not have enough money to survive, also said it had found material weaknesses in it financial reporting system.
Persons: carmaker, Tony Dejak, Steve Burns, Julio Rodriguez, Lordstown, Sullivan, Cromwell, ” Lordstown, Burns, Angela Strand, Becky, David T, Lauren Hirsch, Read Organizations: Lordstown Motors, Credit, Press, Motors, Hindenburg Research, Securities and Exchange Commission, Sullivan, General Motors, Diamond Peak Holdings Locations: Lordstown, Ohio
Google, Facebook, Amazon and more urge SEC to mandate regular climate reports
  + stars: | 2021-06-14 | by ( Lauren Feiner | ) www.cnbc.com sentiment -0.96   time to read: +1 min
Amazon CEO Jeff Bezos announces the co-founding of The Climate Pledge at the National Press Club on September 19, 2019, in Washington. A group of seven tech companies urged the Securities and Exchange Commission to require businesses to regularly disclose climate-related matters to their shareholders. In a letter to SEC Chair Gary Gensler on Friday, Google parent Alphabet, Amazon, Autodesk, eBay, Facebook, Intel and Salesforce shared their view in response to a request for public input on such disclosures. The tech industry has been vocal on climate issues in the past, even as employees have pressed the companies themselves to do better. In the letter, the group outlined several principles they believe the SEC should incorporate into rules around climate disclosures.
Persons: Jeff Bezos, Gary Gensler, Salesforce, it's Organizations: Amazon, National Press Club, Securities and Exchange Commission, SEC, Autodesk, eBay, Facebook, Intel, CNBC, YouTube Locations: Washington
GameStop outgoing CEO George Sherman cashed in $36.7 million of company shares, an SEC filing shows. He sold the shares at the stock's four-month high closing price of $302.56. Sherman, who announced his departure in April, still holds 1.3 million shares, the filing showed. Sherman sold the shares amid renewed meme-stock interest that has powered the video-game retailer close to its January highs. The video-game retailer also announced it may sell as many as 5 million more shares, further pressuring the stock.
Persons: George Sherman, Sherman, Matt Furlong, Ryan Cohen Organizations: GameStop, SEC, Amazon, Securities and Exchange Commission, AMC Entertainment, Energy Fuels, AMC, Gamestop Locations: Amazon
87% of respondents in a survey by cryptocurrency-asset broker Voyager Digital plan to buy more digital currencies in upcoming months. Voyager said the survey indicates crypto buyers will take advantage of the recent market selloff led by bitcoin. The survey also showed an average of 7 out of 10 investors holding bullish sentiment for bitcoin price over the next three months. "It's encouraging that investors remain bullish following the recent market correction," said Steve Ehrlich, Voyager's CEO, in a statement. Looking at so-called altcoins, Voyager said investors are most bullish on cardano, at 55%, followed by dogecoin at 11%.
Persons: bitcoin, Steve Ehrlich, Bitcoin, Elon Musk, Tesla, dogecoin Organizations: Voyager, cryptocurrency, Securities and Exchange Commission Locations: China
UPDATE 1-Egyptian bourse chief expects four IPOs in second half of year
  + stars: | 2021-06-13 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
(Adds details)CAIRO, June 13 (Reuters) - The head of the Egyptian stock exchange said on Sunday he expects four companies in the IT, agriculture and chemicals industries to conduct initial public offerings (IPOs) in the second half of 2021. Bourse chairman Mohamed Farid did not name any of the companies. Reuters reported on Thursday that Egypt’s financial regulator had given state-owned Banque du Caire and three other listed companies until the end of the year to complete their IPOs. The other three listed companies given notice by the regulator were Sky Light for Touristic Development, New Castle for Investment Sports, and City Trade Securities and Brokerage, Reuters reported on Thursday. In Egypt, companies are allowed to list on the exchange before actually offering shares to be traded.
Persons: Mohamed Farid, ” Farid, Ehab Farouk, Nafisa, David Goodman, Andrew Heavens Organizations: Reuters, Banque du Caire, Sky, New, Investment Sports, City Trade Securities Locations: CAIRO, , Egypt
High-Speed Trader Virtu Fires Back at Critics Amid Meme-Stock Frenzy
  + stars: | 2021-06-13 | by ( Alexander Osipovich | ) www.wsj.com sentiment -0.99   time to read: +1 min
High-speed trader Virtu Financial Inc. is pushing back against critics in Washington who say the stock market is rigged against small investors. The review will include a practice known as payment for order flow, in which brokerages send many of their customers’ orders to trading firms in exchange for cash payments. Payment for order flow has existed for decades and has come under scrutiny before. They say small investors benefit from the practice because it results in better prices than they would get at public exchanges like the New York Stock Exchange and the Nasdaq Stock Market . Collectively, that saves investors billions of dollars a year, industry data show.
Persons: Gary Gensler, brokerages, Gensler’s, Sean Casten Organizations: Virtu Financial, AMC Entertainment Holdings Inc, GameStop Corp, Securities and Exchange Commission, SEC, GameStop, Markets, New York Stock Exchange, Nasdaq Locations: Washington
Musk says Tesla will accept bitcoin again as crypto miners use more clean energy
  + stars: | 2021-06-13 | by ( Emma Newburger | ) www.cnbc.com sentiment -1.00   time to read: +1 min
Tesla CEO Elon Musk on Sunday said the company will resume bitcoin transactions once it confirms there is reasonable clean energy usage by miners. "When there's confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing bitcoin transactions." Tesla revealed in an SEC filing in February that it purchased $1.5 billion worth of bitcoin and said it would begin accepting bitcoin as a payment method for its products. On Sunday, Musk disputed Wierzycka's allegations of market manipulation, explaining, "Tesla sold roughly 10% of its bitcoin holdings "to confirm BTC could be liquidated easily without moving market," he said. Bitcoin was trading around $37,442, according to Coindesk, at around 2:30 pm ET, up more than 4% on the day.
Persons: Elon Musk, Tesla, Magda Wierzycka, Sygnia, Musk, Bitcoin Organizations: U.S . Securities, Exchange Commission, SEC, bitcoin, BTC
Pershing Square served as cosponsor of Justice Holdings, with Nicolas Berggruen and Martin Franklin. Pershing Square remains the second-largest investor in Restaurant Brands International. Pershing Square has had its best success when it has invested in high quality businesses with simple, predictable, cash flow and durable and growing business lines. One transferable five-year right per share of Pershing Square SPARC Holdings, Ltd. ("SPARC"), which is expected to trade on the New York Stock Exchange. Pershing Square Tontine Holdings is owned in the fund.
Persons: Nicolas Berggruen, Martin Franklin, Tim Hortons, PSTH, Bill Ackman, Ken Squire Organizations: Pershing, Justice Holdings, Martin Franklin . Justice Holdings, 3G Capital, Burger King Worldwide Holdings Inc, Restaurant, Restaurant Brands, Warner Brothers, Spotify, Charter Communications, Disney, Amsterdam, Securities and Exchange Commission, Pershing Square SPARC Holdings, Ltd, New York Stock Exchange, SPARC, Bloomberg, 13D, Tontine Locations: UMG, effectuate, PSTH
REUTERS/Brendan McDermidWASHINGTON (Reuters) -U.S. financial regulators urged market participants on Friday to accelerate their efforts to detach financial products from Libor interest rate benchmarks, while casting doubt on new benchmarks built to compete with their preferred replacement. “The deniers and laggards are engaging in magical thinking,” Quarles said during a meeting of the Financial Stability Oversight Council, a regulatory panel. At the same time, regulators had harsh words for competing benchmarks, like the Bloomberg Short-Term Bank Yield Index (BSBY). They warned that, like Libor, those benchmarks are built on relatively few transactions, which could make them unreliable or subject to manipulation. “When a benchmark is mismatched like that, there’s a heck of an economic incentive to manipulate it,” he warned.
Persons: Randal Quarles, Brendan McDermid WASHINGTON, ” Quarles, Janet Yellen, Jerome Powell, Yellen, Gary Gensler, Organizations: Federal Reserve, Economic, of New, REUTERS, Federal, Regulators, Bloomberg, Securities, Exchange Locations: of New York, New York City, U.S
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