China has become the first major economy to roll out a digital currency. The e-yuan will bypass the global financial system. Economists, however, warn it could endanger the US dollar long-term. See more stories on Insider’s business page. The People’s Republic of China (PBOC) introduced its first blockchain-powered digital currency controlled by its central bank,…
Apr 8th 2021HONG KONGFacebookTwitterLinkedInWhatsAppEditor’s update: on April 10th Chinese authorities fined Alibaba 18.2bn yuan ($2.8bn) following an antitrust investigation. The firm is accused of pressuring retailers into offering their goods exclusively on its online store. It is the largest penalty ever handed down by the country’s regulators.CHINA’S TECH tycoons have not been themselves lately. In…
Goldman Sachs plans to hire 200 to 300 engineers in its consumer business this year. It signed a contract this month to bring on 14 cloud engineers, a spokesman told Insider. The plans come after a year when a surge in staff exits and senior manager turnover hit the consumer unit. See more stories on…
Summary List Placement Bill Miller’s fund sold almost all of its GameStop shares before their price rocketed in January. Miller Value Partners’ 1.7 million shares would have been worth over $800 million. The veteran investor’s team dumped 97% of its stake because it hadn’t paid off for years. See more stories on Insider’s business page.…
Playboy is launching an NFT art gallery and auction hub via Nifty Gateway. Playboy’s chief brand officer Rachel Webber said NFTs present ‘an enormous business opportunity’. Playboy plans to use the partnership to showcase its art archive and to release original works. See more stories on Insider’s business page. Playboy is set to join the…
Trump’s plan to start a new social media network is highly unlikely to succeed, experts have told Insider. The former president is reportedly planning a new platform to recover the audience he lost after being kicked off Twitter. But Trump will struggle, experts believe, with any new platform likely to struggle financially. See more stories…
“StudyTube” has become a popular trend on YouTube, and major advertisers are taking notice. Some study influencers have seen a lift in brand interest since the pandemic took learning online. Popular study influencers are earning thousands of dollars through AdSense and brand partnerships. See more stories on Insider’s business page. In 2019, the YouTuber Elliot…
Apr 10th 2021SAN FRANCISCOFacebookTwitterLinkedInWhatsAppONE OF SILICON VALLEY’S most successful inventions is hype. It usually disappoints. In 2015 live-streaming from smartphones became all the rage. But Meerkat, an app which pioneered it, shut down the following year. On April 1st Periscope, its more successful rival, did too (no joke). Will Clubhouse, a buzzy app that hosts…
Apr 8th 2021FacebookTwitterLinkedInWhatsAppFACED WITH recalcitrant sovereign counterparties, foreign investors and companies occasionally take drastic action. A picaresque example of the genre occurred in 2012, when Elliott Management, a buccaneering American hedge fund which held distressed Argentine bonds, seized a handsome tall ship belonging to Argentina’s navy. Elliott’s aggressive tactics ultimately paid off, and others have…
Good morning and welcome to 10 Things in Tech. If this was forwarded to you, sign up here. Let’s get started.1. Hackers scraped data from 500 million LinkedIn users and posted it for sale online. In the wake of Facebook’s major data leak, LinkedIn is investigating a leak that affected two-thirds of its users. Here’s…
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