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Get the latest information as we analyze the first phase of our new global economy and discuss what we think is to come.

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Mark Cuban prefers BTC investment over Bitcoin Futures ETF

• The businessman thinks that Bitcoin is the new digital gold.
• Mark Cuban could adopt several cryptocurrencies in the next few days.

The cryptocurrency market marked a new milestone during the week, considering that Bitcoin led to a new historical maximum in its price, trading at $65000. BTC had a rise in its price due to the ETFs.

Even though this new record caught entrepreneurs’ attention, Mark Cuban prefers not to invest in Bitcoin Futures ETF this time. According to Cuban, the ETFs ended successfully, but it is much better to invest in BTC directly.

Bitcoin Exchange Traded Funds: What are they?Mark Cuban

The funds traded on BITO would correspond to the first of many Bitcoin ETFs linked to the US stock market under the order of the Securities and Exchange Commission. This fund opens the possibility for enthusiasts to buy Bitcoin without the need to have a crypto wallet. It differs greatly from buying Bitcoin futures than buying Bitcoin directly from a crypto wallet.

These futures would be a form of financial proceeds summarized as agreements with their price from another token. BTC Futures are agreements for purchasing Bitcoin in an eventually fixed section and not tokens stored with the risk of making or losing money due to their volatility in prices.

Among these fans who get the BTC Futures deals is Mark Cuban, the Dallas Mavericks NBA team owner. After getting in and out of this latest BTC futures trading fund, Cuban said he prefers to buy the token and have it in his crypto wallet.

Mark Cuban, who by May said his crypto wallet was filled to over 60 percent in Bitcoin, thinks these ETF offerings are tempting, but there’s nothing better than investing.

Mark Cuban believes that Bitcoin has a great trading future

Mark Cuban does not stop admiring cryptocurrencies, especially Bitcoin, which is his preferred token. According to the businessman, Bitcoin has an advantage over other cryptos because of its current price and investment opportunities.

Cuban clarifies that Bitcoin has no competition as storage crypto; according to his opinions, the token has an algorithmic limit. This causes Bitcoin to have a low supply per pattern. Based on this, Cuban believes that the more demand for crypto increases, the greater its commercial value.

Mark Cuban has also repeatedly said that Bitcoin is the new gold, even better than storing gold for the profits it offers. However, the entrepreneur is not limited to appreciating the purchasing value of other cryptos such as Ethereum, which trades today at $3,987. Cuban hopes that people who do not like cryptocurrencies understand that regulations cannot stop this new financial model.

Source: cryptopolitan.com

These futures would be a form of financial proceeds summarized as agreements with their price from another token. BTC Futures are agreements for purchasing Bitcoin in an eventually fixed section and not tokens stored with the risk of making or losing money due to their volatility in prices.

Source: https://coindesk-news.com/2021/10/25/mark-cuban-prefers-btc-investment-over-bitcoin-futures-etf/

Love them or hate them: Cryptocurrencies are here to stay

Bitcoin has come a long way since someone or a group of someones under the name Satoshi Nakamoto wrote a paper in 2008 about how to harness computing power around the world to create a digital currency that can’t be double-spent.

Love cryptocurrencies or hate the very idea of them, they’re becoming more mainstream by the day.

Cryptocurrencies have surged so much that their total value has reached nearly $2.5 trillion, rivalling the world’s most valuable company, Apple, and have amassed more than 200 million users. At this size, it’s simply too big for the financial establishment to ignore.

Firms that cater to the world’s wealthiest families are increasingly putting some of their fortunes into crypto. Hedge funds are trading Bitcoin, which has big-name banks starting to offer them services around it. PayPal lets users buy crypto on its app, while Twitter helps people show appreciation for tweets by tipping their creators with Bitcoin.

And in the latest milestone for the industry, an easy-to-trade fund tied to Bitcoin began trading on Tuesday. Investors can buy the exchange-traded fund from ProShares through an old-school brokerage account — without having to learn what a hot or cold wallet is.

It’s all part of a movement across big businesses that see a chance to profit on the fervour around the world of crypto as a new ecosystem further builds up around it, whether they believe in it or not.

“The one thing you can say for certain is that the advent of the era of the Bitcoin ETF opens up the opportunity for Wall Street to make money on Bitcoin in a way that it hadn’t been able to previously,” said Ben Johnson, director of global ETF research at Morningstar. “The winners in all of this are the exchanges and the asset managers and the custodians. Whether investors win or not is a big, bold question mark.”

Bitcoin has come a long way since someone or a group of someones under the name Satoshi Nakamoto wrote a paper in 2008 about how to harness computing power around the world to create a digital currency that can’t be double-spent. The price has more than doubled this year alone to roughly $62,000. It was at only $635 five years ago.

Supporters of cryptocurrencies say they offer an important benefit for any investor: a price that moves independently of the economy, rather than changing with it like so many other investments. More high-minded fans say digital assets are simply the future of finance, allowing transactions to sidestep middlemen, with fees tied to a currency that’s not beholden to any government.

Critics, meanwhile, question whether crypto is just a fad. They say it uses too much energy and point to all the stiff regulatory scrutiny around it. Last month, China declared Bitcoin transactions illegal, for example. The Chair of the United States Securities and Exchange Commission Gary Gensler said in August that the world of crypto doesn’t have enough investor protection and that “it’s more like the Wild West.”

That hasn’t been enough to halt the immense momentum for crypto, as it’s gone from an online curiosity to a bigger part of the cultural and corporate landscape.

In a survey by Citi Private Bank, which manages money for wealthy people at offices around the world, roughly 23 percent said they have made some investments in crypto. Another 25 percent said they are researching it.

The growing acceptance of crypto on Wall Street has created a new crop of darlings that help people buy it. Crypto trading platform Coinbase has a market value of roughly $64bn, for example, putting it on par with such established companies as Colgate-Palmolive, FedEx and Ford Motor.

In the end though, what many on Wall Street see sticking around may not be so much Bitcoin and other cryptocurrencies, but the technology that underlies them.

Called the blockchain, it allows for a public ledger that everyone can check and trust — and many expect it to lead to a wealth of innovations. It’s akin to today’s Netflix, Facebook and other services that sprung out of the infrastructure built during the boom and bust of the dot-com bubble.

JPMorgan Chase, for example, is already using blockchain technology to improve fund transfers between global banks. That’s the same JPMorgan Chase run by CEO Jamie Dimon, who said in an interview with Axios this month that Bitcoin has “got no intrinsic value”.

Source: https://newsdaylight.com/2021/10/20/love-them-or-hate-them-cryptocurrencies-are-here-to-stay/

Merck-Rivaling Covid Pill Flops; Where Does Maker Atea Go Now?

Atea Pharmaceuticals (AVIR) said Tuesday its Merck (MRK)-rivaling antiviral Covid pill flopped in a midstage test, leading AVIR stock to crash.

X

The antiviral pill failed to significantly lower the viral loads of patients with mild to moderate Covid. But in patients with a high risk of severe Covid and underlying health conditions, the results were more promising, Atea said in a news release.

Now, Atea and its partner, Roche (RHHBY), are scrambling to assess whether they can modify the patient population and ultimate goal of the upcoming Phase 3 study.

“We remain committed to our goal of developing and delivering (the drug called) AT-527 as an oral antiviral that will address treatment needs as Covid-19 continues to evolve,” Atea Chief Executive Jean-Pierre Sommadossi said in a written statement.

But on today’s stock market, AVIR stock plummeted 66% to 13.82. Merck stock, on the other hand, rose 3% to 79.49.

AVIR Stock Crashes On Antiviral Miss

Atea and Merck are both working on antiviral treatments for Covid. These drugs are oral medicines that look to stop the virus’ replication in the body. Merck has already asked the Food and Drug Administration to grant its Ridgeback Biotherapeutics-partnered drug emergency authorization.

So, investors in AVIR stock had high hopes for a second potential oral antiviral.

In the midstage test, Atea’s drug failed to “show a clear reduction” of viral load in mild-to-moderate Covid patients compared to a placebo. Overall, two-thirds of patients had mild symptoms with no underlying health conditions. On average, patients were 37 years old. The test also enrolled people who were vaccinated against Covid. Merck’s study focused on unvaccinated people.

Promisingly, high-risk patients showed a stronger viral load reduction, Atea said. Atea also said the presence of variants and greater vaccination numbers could have impacted the results.

Still, the news sent AVIR stock to its lowest-ever point. Shares went public in October 2020. AVIR stock enjoyed some gains recently on Merck’s antiviral momentum. But Atea stock’s downfall on Tuesday put it below its 200-day line, according to MarketSmith.com.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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“We remain committed to our goal of developing and delivering (the drug called) AT-527 as an oral antiviral that will address treatment needs as Covid-19 continues to evolve,” Atea Chief Executive Jean-Pierre Sommadossi said in a written statement.

Source: https://www.investors.com/news/technology/avir-stock-crashes-after-merck-rivaling-covid-pill-misses-in-midstage-test/

Elon Musk teased Warren Buffett for being so much poorer than him – and suggested the investor buy Tesla stock to catch up

Warren Buffett and Elon MuskWarren Buffett (left) and Elon Musk (right).

Alex Wong/Getty, REUTERS/Rebecca Cook

  • Elon Musk joked that Warren Buffett should buy Tesla stock if he wants to get richer.
  • The Tesla and SpaceX chief’s net worth is more than double the size of the investor’s fortune.
  • Musk and Buffett have clashed before, on issues such as the importance of brands.

Elon Musk teased Warren Buffett for being poorer than him in a recent tweet, suggesting the investor should buy a stake in his electric-vehicle company if he wants to catch up.

“Maybe Buffett should invest in Tesla haha,” Musk said. The Tesla and SpaceX CEO commands a net worth of $236 billion, or more than double the Berkshire Hathaway CEO’s $103 billion fortune, according to the Bloomberg Billionaires Index.

Musk tweeted in response to a Twitter thread highlighting that he was worth more than Buffett and Microsoft cofounder Bill Gates combined. He probably doesn’t expect Buffett to become a Tesla shareholder, as the 91-year-old famously looks for bargains and sticks to businesses he understands. Tesla’s market capitalization has ballooned almost 10-fold since the start of 2020, and the company has made big bets on artificial intelligence and bitcoin.

The Tesla chief has butted heads with the investor before, most recently when he dismissed Berkshire’s proposal to build 10 natural-gas power plants across Texas in preparation for the state’s next power crisis.

While Musk has quoted Buffett in the past, he’s admitted that he’s not the investor’s “biggest fan.” He’s described allocating capital across Berkshire as “kind of a boring job,” and questioned Buffett’s “kindly grandfather” persona.

Notably, the Tesla chief labeled Buffett’s idea of economic moats – or enduring competitive advantages such as a beloved brand or patented technology – as “lame” on an earnings call in 2018. He argued that a company’s pace of innovation is the key determinant of its competitiveness instead.

Buffett defended the concept at Berkshire’s annual shareholder meeting that year. He pointed to Geico’s low costs, and customers’ loyalty to brands such as Coca-Cola and Snickers, as examples of powerful moats that keep rivals at bay.

“Elon may turn things upside down in some areas,” the investor said. “I don’t think he’d want to take us on in candy,” he quipped, referring to Berkshire-owned See’s Candies.

“I’m starting a candy company, and it’s going to be amazing,” Musk jokingly tweeted in response. In contrast, Buffett signaled that he won’t be competing with Musk in the car business.

“I don’t really have the same urge to produce automobiles that he apparently has to produce candy,” he said in a CNBC interview in 2018.

Buffett has previously praised Musk as a “remarkable guy,” but suggested he has “room for improvement” and should be more selective about what he tweets.

Read more: Warren Buffett expert Robert Hagstrom breaks down the 3 key elements of the investor’s ‘ultimate money mind’ – and explains why he won’t rush to make another elephant-sized acquisition

Source: https://markets.businessinsider.com/news/stocks/elon-musk-warren-buffett-net-worth-wealth-tesla-stock-billionaires-2021-10?op=1

Investment Opportunity with New Cryptocurrency Miners, Business News

Sunnyvale, California – Newsfile Corp. – 9 October 2021 – AsicWay( www.ASICWay.com ) is quickly emerging as a promising investment opportunity for crypto enthusiasts around the world. The company’s three power packed ASIC miners AW1, AW2, and AW PRO have already gained a lot of attention because of their ability to generate 100% return on investment within just one month. Many common people without any technological expertise or mining experience are now considering these miners as a profitable investment option.

The exceptional profit making potential of the miners from AsicWay can be attributed to their extremely high hash rates that are unprecedented in the world of crypto mining. To further enhance the profitability of the products, they also have very low power consumption. The three miners can be used for mining bitcoin, litecoin, ethereum, and monero with the hash rates and power consumptions as mentioned below.

AW 1 Miner: Bitcoin 380 TH/s, Litecoin 40 GH/s, Ethereum 2,5 GH/s, and Monero 3 MH/s, and 650 W power consumption.

AW 2 Miner: Bitcoin 610 TH/s, Litecoin 64 GH/s, Ethereum 4 GH/s, and Monero 5 MH/s, and 850 W power consumption.

AW Pro Miner : Bitcoin 1950 TH/s, Litecoin 200 GH/s, Ethereum 13 GH/s, and Monero 16 MH/s, and 2200 W power consumption.

The projected profits using AW Pro for bitcoin, litecoin, ethereum, and monero are summarized below.

Bitcoin: $678.35/day, $4748.42/week, $20.35k/month, $247.60k/year

Litecoin: $805.91/day, $5641.35/week, $24.18k/month, $294.16k/year

Ethereum: $899.75/day, $6298.24/week, $26.99k/month, $328.41k/year

Monero: $1099.59/day, $7697.11/week, $32.99k/month, $401.35k/year

AsicWay has also done its bit to deliver higher ROI to its customers by covering the delivery and custom fees for them. The company also offers comprehensive product warranty covering all types of software or hardware issues.

“In these tough times, crypto mining can be a lucrative and steady investment opportunity, provided the right kind of hardware is available. This is exactly we have tried to deliver. Most importantly, you don’t have to be a technology expert to enjoy these benefits,” said Aydan Brown Chief Financial Officer of AsicWay.

To find out more, please visit https://asicway.com/

About AsicWay: AsicWay is an innovative technology company created and managed by an experienced team of engineers and enlightened minds inspired by the idea of bringing the best technology to the crypto mining market. The company operates with the vision of bringing unprecedented crypto mining opportunities for all types of investors.

Media Contact

Aydan Brown
[email protected]
+1 650 741 1299

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99139

AW 1 Miner: Bitcoin 380 TH/s, Litecoin 40 GH/s, Ethereum 2,5 GH/s, and Monero 3 MH/s, and 650 W power consumption.

Source: https://cryptolifetoday.com/2021/10/investment-opportunity-with-new-cryptocurrency-miners-business-news/

US and Europe will strengthen their trade and tech partnership

By Swann Collins, investor and consultant in global affairs – Eurasia Business News, October 17, 2021

View on the Manatthan’s skyline, New York city. Photo credits : Swann Collins.

Semiconductors and investments in innovation are priority issues for the Trade and Technology Council, which was set up by the United States and Europe on September 29. The two great powers are committed to coordinate their strategies to reduce their dependence on Asia and promote Western trade and technologies. Indeed, Beijing has been using its industrial influence to promote its geopolitical agenda, infringing human rights and freedom. In addition, the supply chains disruptions in Asia because of coronavirus pandemics have revealed the fragility of technology dependence for Western democracies.

The Trade and Technology Council opened on September 29, 2021 in Pittsburgh, Pennsylvania (United States). The European Union (EU) was represented by Valdis Dombrovskis, vice-president of the European Commission in charge of the economy, and Margrethe Vestager, vice-president in charge of digital and competition.

On the North American side, Antony Blinken, US Secretary of State, Gina Raimondo, US Secretary of Commerce and Katherine Tai, Advisor to US President Joe Biden on trade issues international, attended the meeting.

Discussions began on the issue of semiconductors, an area seen on both sides of the Atlantic as strategic for the economic future and security of both regions. Washington and Brussels share the same concerns about their dependence on Asia and mainly on China. The USA and Europe seek to rebalance the global logistics chain by strengthening production on their soils. The TTC meeting also focused on future U.S. and EU action to spur economic growth that benefits workers and small and medium-sized businesses on both sides of the Atlantic.

During President Joe Biden’s visit to Brussels last June, the two sides agreed to create a US-European Trade and Technology Council (TTC). Its objective is to deepen the trade ties and strengthen the transatlantic cooperation in technology.

The goal of the TTC is “to create a compelling vision for global trade and technology that serves our people, protects our interests, and fosters a spirit of innovation,” said U.S. Secretary of State Antony Blinken on September 29 after meeting with representatives from the EU.

This two-days meeting also provided an opportunity to track the progress to date of the 10 working groups established by US President Biden and European Commission President Ursula von der Leyen at the U.S.-EU Summit in June.

In the Inaugural joint statement published by parties, Washington and Brussels said that :

“We intend to collaborate to promote shared economic growth that benefits workers on both sides of the Atlantic, grow the transatlantic trade and investment relationship, fight the climate crisis, protect the environment, promote workers’ rights, combat child and forced labor, expand resilient and sustainable supply chains, and expand cooperation on critical and emerging technologies. We stand together in continuing to protect our businesses, consumers, and workers from unfair trade practices, in particular those posed by non-market economies, that are undermining the world trading system.”

Improving transatlantic trade

However, Washington and Brussels need to move forward on their conflict over steel and aluminium imports. The tariffs were imposed by the President Donald J. Trump. U.S. Trade Representative Katherine Tai met on October 14 with EU trade chief Valdis Dombrovskis on that issue.

Tai and Dombrovskis agreed in May to not escalate the dispute over steel and aluminum tariffs for six months in order to negotiate a settlement in a truce that expires in late November.

In June, the US and the EU agreed to halt a 17-year trade battle over aircraft subsidies with Boeing and Airbus, in order to work together against a common threat : communist China’s efforts to develop its own commercial aircraft industry, with the help of economic espionage.

Trade is an important issue in the transatlantic relationships, and is also linked to the monetary policies of the US Federal Reserve and the European Central Bank. A big goal would be to improve the coordination between the US and EU central banks, to better control inflation and purchasing power and deliver prosperity to US and European people.

Some challenges to the partnership

The White House has taken two major steps in the past three months, that have taken some of its European allies by surprise – the withdrawal of American troops without warning from Kabul at the end of August and the surprise creation of an alliance with the United Kingdom and Australia (AUKUS) fifteen days later – which cast doubt on the Mr. Biden’s real commitment to cooperate with its European partners.

France, which, along with the AUKUS, saw Canberra cancel the contract signed in 2016 over an order for French submarines for the benefit of the Americans and the British, sought to convince its European partners to postpone the Trade and Technology Council meeting. Hopefully, this attempt has not made success: the defenders of the transatlantic partnership (the Baltic countries, Poland and Romania) or the defenders of free trade (Denmark, Ireland) refused to do so. France finally reached a compromise with the US, after a telephone interview between Emmanuel Macron and Joe Biden on September 22.

Why the US and Europe must be together ?

Joint work on semiconductors with the United States is an opportunity for Europe to succeed in the 21st century economy, which will increasingly depend on IT technology and artificial intelligence. The US and Europe share the same liberal values of democracy, human rights, freedom and liberty of economic opportunities. Amid growing challenges on the world stage with authoritarian regime or renewal of socialism, America and Europe have no choice but grow their partnership in leadership and innovation, to protect and serve the free world.

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© Copyright 2021 – Swann Collins, investor and consultant in global affairs.

Discussions began on the issue of semiconductors, an area seen on both sides of the Atlantic as strategic for the economic future and security of both regions. Washington and Brussels share the same concerns about their dependence on Asia and mainly on China. The USA and Europe seek to rebalance the global logistics chain by strengthening production on their soils. The TTC meeting also focused on future U.S. and EU action to spur economic growth that benefits workers and small and medium-sized businesses on both sides of the Atlantic.

Source: https://eurasiabusinessnews.com/2021/10/17/the-united-states-and-europe-will-strengthen-their-trade-and-tech-partnership/

Roche Family Shareholders Will Maintain Stability – Vice Chairman

ZURICH (Reuters) – The head of Roche’s controlling group of shareholders is “very confident” stability can be maintained at the pharmaceuticals company after the next generation of heirs joined the family pool of investors, he told NZZ am Sonntag.

“The new generation has the same values ​​as the older family members,” Andre Hoffmann, the great grandson of the company’s founder, told the newspaper in an article published on Sunday.

“Our role as the owner family is to enable Roche to focus on creating sustainable values ​​over the long term. We are convinced of that,” said the 63-year-old, who is spokesman for the pool of family members that controls 45.01% of the Basel company.

A pooling agreement between the descendants of company founder Fritz Hoffmann-La Roche has existed since 1948, and was extended for an indefinite period in 2009. A fifth generation was admitted to the pool in 2019.

Hoffmann, who is also a vice chairman of Roche, said family ownership of large companies did not always work.

“If it works, it is a great strength for the company. If not, it can be diabolical,” he said.

(Reporting by John Revill; Editing by Jan Harvey)

Copyright 2021 Thomson Reuters.

“If it works, it is a great strength for the company. If not, it can be diabolical,” he said.

Source: https://money.usnews.com/investing/news/articles/2021-10-17/roche-family-shareholders-will-maintain-stability-vice-chairman

Cryptocurrencies Price Prediction: Cardano, Dogecoin & Shiba Inu — Asian Wrap 12 Oct

Cardano must close above $2.60 before testing new all-time highs

Cardano price action suggests that some near-term selling pressure is likely to come in unless buyers step in and provide support. It is effortless to find a bias for leaning bearish as well as bullish at present. Currently, the conviction of the buyers is being tested – and they don’t have much time to respond before a breakdown occurs.

Dogecoin bulls envy Shiba Inu’s rally as $0.275 resistance holds strong

Dogecoin price may have triggered some fears of a resumption of some intense selling pressure after closing nearly -8% lower on Sunday. Those fears were easily justified given that the Sunday close was below the last primary support levels on the daily Ichimoku chart.

Dogecoin killer Shiba Inu breaks out, targets $0.000045

Shiba Inu price action has been a textbook model of technical analysis theory – the more extended consolidation, the more impactful any breakout. However, evidence of another leg higher exists and continues to develop. The market can remain irrational longer than you can remain solvent.

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Source: https://www.fxstreet.com/cryptocurrencies/news/cryptocurrencies-price-prediction-cardano-dogecoin-shiba-inu-asian-wrap-12-oct-202110120416

Crypto SWOT: Bank of America believes more regulation could be positive for cryptocurrencies


Strengths

  • Of the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was Nano Dogecoin INTC, rising 50,429,343,990%.
  • According to Bloomberg, Bank of America (BofA) has now launched research coverage of cryptocurrencies due to growing institutional interest in the sector and massive appetite among retail clients. On Bloomberg Surveillance this week, head of global research from BofA Candance Browning said, “This isn’t just Bitcoin anymore, this is digital assets.”
  • US Bancorp, the fifth-biggest retail bank in the nation, is joining rivals State Street and Bank of New York Mellon in offering crypto custody services. The bank is offering crypto custody services to institutional investment managers with funds in the U.S. or the Cayman Islands, according to Bloomberg.

Weaknesses

  • Of the cryptocurrencies tracked by CoinMarketCap, the worst performing for the week was Big Digital Shares BDC, down 81.47%.
  • Central banks are becoming more concerned about cryptocurrencies, but particularly regarding stablecoins. The Bank of International Settlements, the organization that represents most of the world’s central banks, published guidance on how regulators can oversee them, writes CoinDesk.
  • According to CEO of Galaxy Digital Mike Novogratz, “a central bank-issued currency would be a disaster,” reports CoinDesk. “Governments are not good at innovating, and I don’t think anyone in the West wants to give up as much privacy as the Chinese are willing to give up.” The article goes on to highlight the perceived risk if governments start meddling in cryptos.

Opportunities

  • Federal Reserve Chairman Jerome Powell said that he has no intentions of banning cryptocurrencies. While testifying before Congress, Powell was asked by lawmakers if it was the Fed’s intention to ban or limit the use of digital assets, and Powell simply responded “no,” according to Decrypt.
  • An article published by Bloomberg states that, in the eyes of Bank of America
    (BofA), more regulation could be positive for cryptocurrencies. Once rules are established, the uncertainty over how to invest in crypto will be lifted, a strategist at the bank wrote.
  • According to an article published by Decrypt, The U.S Department of Justice has announced a new cryptocurrency enforcement team. Attorney General Lisa Monaco stated that, “We have already made great stride in combating misuse of cryptocurrency platforms, and we’ve shown we won’t hesitate to go after those platforms that help criminals launder or hide their criminal proceeds.”

Threats

  • Stablecoin backer Circle is under investigation by the SEC. In an article published by Bloomberg, Circle received an investigative subpoena from the SEC requesting “documents and information regarding certain of holdings, customers, programs, and operations.”
  • Brian Armstrong, CEO of the largest crypto exchange in the U.S., Coinbase, is concerned that U.S. business leaders will start quitting due to the intense scrutiny that they face. “America could be losing some of its best talent from this, and it has some parallels to what is happening to successful CEOs in China” said Brian Armstrong in article published by Bloomberg.
  • Gary Gensler confirms that the SEC won’t ban crypto, but Congress could. During his hearing at the House Committee on Financial Services, Gensler emphasized that prohibiting cryptocurrency does not fall within the SEC’s mandate, stating “that would be up to Congress,” reports CoinTelegraph.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

  • US Bancorp, the fifth-biggest retail bank in the nation, is joining rivals State Street and Bank of New York Mellon in offering crypto custody services. The bank is offering crypto custody services to institutional investment managers with funds in the U.S. or the Cayman Islands, according to Bloomberg.
  • Source: https://www.kitco.com/commentaries/2021-10-11/Crypto-SWOT-Bank-of-America-believes-more-regulation-could-be-positive-for-cryptocurrencies.html