China's Bitcoin Crackdown
China's central bank has called for the shutdown of a company that, "was suspected of providing software services for virtual currency transactions". The People's Bank of China also warned institutions not to provide other services related to virtual currency.
Go Deeper (2 min read)Wise, formerly known as TransferWise, is going public. The money transfer company has decided to list directly on the London Stock Exchange.
Go Deeper (1 min read)Shortages Cool Down Growth
The Institute for Supply Management said on Tuesday that its non-manufacturing activity index has fallen to 60.1 while it stood at 64.0 in May. A reading above 50 indicates growth in the services sector, which accounts for two-thirds of U.S. economic activity.
Go Deeper (2 min read)Didi Gets Slammed
The shares of Didi Global last traded at about $12, well below their initial price of $16.65 on June 30 - a fall in market capitalisation of about $19 billion.
Go Deeper (2 min read)Zipline Raises $ 250m At A $ 2.75B Valuation
Zipline is vertically integrated, which means it designs and manufactures the unmanned drones, logistics software and the accompanying launch and landing system.
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Pinterest Earnings Review
Pinterest is a fast-growing company that managed to take advantage of the pandemic and saw its sales increase dramatically. However, a large share of Pinterest’s stock price growth was driven by expanding multiples
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Peloton Goes Corporate
Peloton announced the launch of a corporate wellness program on Tuesday. Businesses that sign up will be able to offer subsidized access to the Peloton digital fitness membership and its high-end cycles and treadmills for employees.
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When Is A Stock Overvalued?
How can we see if a stock is overvalued? It doesn’t need to be complex and investors can do a great job by tracking the evolution of a stock’s Price To Earnings ratio (for profitable companies) or Enterprise Value To Sales ratio (for growing companies).
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A Warm Summer For The Fed
Excess savings and the approach of the summer could lead consumers to direct their “revenge buying” on categories long shunned: alcohol, cosmetics and perfumes.
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Tapering Talks?
The Fed took a hawkish turn on Wednesday as they pencilled two potential rate hikes in 2023, sooner than previous estimates.
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Volatility Is Gone... According To Big Banks
Jamie Dimon, the CEO of JPMorgan Chase, said that trading revenue will drop to around $ 6B as the market volatility prompted by the pandemic fades away
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