Wednesday, 21 Nov 2018
Category: Business

Bitcoin Daily: DOJ Probes Tether Cryptocurrency; Bitcoin Price Slides To Under $4.3K

The U.S. Department of Justice (DOJ) is reportedly looking to see if the atmospheric rise of bitcoin in 2017 was caused, in part, by alleged market manipulation through a particular cryptocurrency known as Tether, Bloomberg reported. According to the news outlet, unnamed sources are investigating a reported web that could encompass Tether and bitcoin, along […]

DOJ Investigates Bitcoin For Market Manipulation

The U.S. Justice Department is investigating whether bitcoin’s record-breaking performance last year was caused by market manipulation. Late last year, the value of a single bitcoin hit $9,143, climbing nearly six points in just 24 hours for a market cap north of $152 billion. According to a recent report from Bloomberg, the DoJ is looking into whether […]

Target Predicting Strong Finish After Bumpy Third Quarter

Target’s stock price slid sharply and suddenly when the firm announced its results for the third quarter, falling 9 percent as the retailer announced a somewhat mixed result for the quarter. Despite the largely so-so result, Target went into its call with investors looking to build enthusiasm for the holiday quarter by ensuring the retailer’s […]

Careem Aims To Raise As Much As $200M From Chinese Investors

Careem, the leading ride-sharing rival to Uber in the Middle East, is aiming to raise between $100 million and $200 million. According to a report in Reuters, citing a source with direct knowledge of the matter, Careem is aiming to raise the funding via Chinese investors, with investment bank China International Capital Corp. advising the […]

Bitcoin Fails To Take Off As Payment Method

Bitcoin’s use as a form of commercial payments has declined during the year, at the same time that the digital token appears to be stabilizing. According to a report in Reuters, citing Chainalysis, the blockchain research firm, the value of bitcoin handled by payment processors declined close to 80 percent this year ending in September, […]

Sub-Prime Lending’s Late-Year Bounce

According to the latest TransUnion Consumer Credit Forecast, the back half of 2018 has been a good year for sub-prime borrowers looking for access to credit. In the year between Q2 2017 and Q2 2018, sub-prime consumer loan originations grew 28 percent between Q2 2017 and Q2 2018 across the categories of auto loans, mortgage loans and credit cards. This reverses the previous […]

Department Of Justice Accuses Globvision CEO Raul Gorrin Of Bribery

The U.S. Justice Department has accused Raul Gorrin, the owner of Globvision, the Venezuelan television channel and Seguros La Vitalicia, the insurance firm, for bribing officials in the country. According to a report in Reuters, citing an unsealed indictment in federal court in West Palm Beach, Flordia, Gorrin was charged with violating anti-corruption laws in […]

Coupang Gets $2B Investment From SoftBank’s Vision Fund

Coupang, the South Korean eCommerce company, is getting a $2 billion investment from SoftBank’s Vision Fund, which will provide it with the money to speed up development of delivery and shopping services. According to a report in Bloomberg, citing people familiar with the matter, the eCommerce company has a post-money valuation of $9 billion. SoftBank […]

European Central Bank To Launch Network Of Watchdogs To Fight Money Laundering

The European Central Bank is gearing up to launch a network of watchdogs that share information on money laundering in an effort to increase scrutiny of banks. According to a report in Reuters, citing European Central Bank Supervisory Board Chair Daniele Nouy, the European Central Bank’s Single Supervisory Mechanism will create an anti-money laundering office […]