How the Financial Industry Worked Before Computers
On this episode of Odd Lots, we take a stroll back in time to see how the Bank of England functioned before computers, telephones and even the telegraph.
Bloomberg Tech
Tech Stocks Slip as Traders Rein in Rate Cut Bets: Markets Wrap
US tech stocks slipped while an earlier advance in government bonds moderated as traders unwound bets the Federal Reserve will cut interest rates this year.
Russians Appeared to Seek Refuge in Crypto During Wagner Revolt
Russians appeared to have sought to exchange rubles for the crypto stablecoin Tether as a refuge during the short-lived mercenary rebellion that shook the nation over the weekend.
Cathie Wood’s ARK Says It’s First in Line for Spot-Bitcoin ETF
Cathie Wood’s ARK Investment Management says it’s first in line to get potential approval for a spot-Bitcoin ETF, despite industry reasoning positing that BlackRock Inc. might be ahead in the race should any product receive regulatory assent.
Meta Debuts New Subscription Service for Its Virtual Reality Headsets
Meta Platforms Inc. is launching a new subscription service for its virtual reality headsets.
Biden Touts Billions for Broadband in Economic Pitch to Voters
President Joe Biden unveiled plans for allocating nearly $42.5 billion to build out high-speed internet networks, touting it as a way his administration aimed to help all Americans — even those who did not vote for him — ahead of his 2024 reelection bid.
Crypto Exchange Huobi Delists Tokens Using Justin Sun’s Tron Stablecoin
Crypto exchange Huobi Global Ltd. said it will remove 10 “trading pairs,” primarily ones involving tokens used in transactions with the USDD stablecoin issued by the TRON DAO Reserve that is supported by digital-asset entrepreneur Justin Sun.
Harry Markowitz, Father of Modern Portfolio Theory, Dies at 95
Harry Markowitz, a Nobel Prize-winning economist who redefined money management by showing that diversification could reduce investment risk while maximizing returns, has died. He was 95.
Germany Eyes Critical Materials Fund of as Much as $1.1 Billion
Germany plans to set up a state fund worth between €500 million and €1 billion ($546 million to $1.1 billion) to support the mining of raw materials critical to accelerate the country’s green transition, Economy Minister Robert Habeck said.
Samsung Heirs Boost Borrowings to $3 Billion, Facing $10-Billion Inheritance Tax Bill
South Korea’s richest family upped its share-backed borrowing to about $3 billion, a move that may be a way to pay one of the world’s largest inheritance tax bills and maintain its grip on the Samsung empire.