Crypto News 

Better Than Corporations: Layoffs in Crypto Are On the Rise, Still Lower Than in Other Industries

“Over the past three years, jobs relating to blockchain, Bitcoin and cryptocurrency have been on the rise on LinkedIn” writes Gareth Jenkinson for cointelegraph.com. Citigroup, Sears, Roebuck & Co, and the U.S. Army each cut over 50,000 jobs at different stages, but these job cuts put most others in perspective.As previously mentioned, one can draw similar parallels between the rise of internet companies in the 1990s and the rise of cryptocurrency- and blockchain-focused companies from 2010 onward. However, those that survived ended up laying the foundation for the cryptocurrency and…

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Mercedes-Benz cuts China prices after tariff on U.S.-made cars suspended

“BEIJING (Reuters) – German luxury carmaker Mercedes-Benz on Monday said it would offer discounts on cars imported into China from the United States until March 31 after Beijing suspended additional tariffs on U.S.-made cars” reports businessinsider.com. Prices of four models were cut by between 36,000 yuan ($5,219.96) and 135,000 yuan, the Daimler AG-owned company said on its microblog.China will temporarily suspend additional 25 percent tariffs on U.S.-made vehicles and auto parts starting January 1, the finance ministry said on Friday, following a truce in a trade war between China and…

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Jaguar Land Rover to ‘axe up to 5,000 jobs’

“However, according to a report in the Financial Times, several people close to the carmaker said JLR will outline in January the short-term element of its plan, including the loss of up to 5,000 jobs” writes Angela Monaghan for theguardian.com. Jaguar Land Rover is planning to announce thousands of job cuts in the new year as part of a £2.5bn savings plan to ward off the threat from Brexit, falling sales in China and a drop in demand for diesel cars. Source: theguardian.com Share This:

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Yet another analyst cuts their price target on Apple, citing iPhone weakness overseas

“Yet another Wall Street analyst has cut share price expectations for Apple as Piper Jaffray joined the growing chorus of brokerages to readjust iPhone expectations” writes Zhang Peng for cnbc.com. Olson maintained his overweight rating on Apple stock, but trimmed his 12-month price target to $222 from $250.The 11 percent reduction to his price target implies 31 percent upside over the next year.Despite the cut to Piper Jaffray’s price target, shares of Apple rose 0.4 percent in premarket trading Thursday. Source: cnbc.com Share This:

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News Oil 

OPEC output jumped last month, even as production cuts loom: IEA

“And, the agency kept its oil demand growth forecasts for this year and next unchanged, at 1.3 million barrels a day and 1.4 million barrels a day, respectively” writes Rachel Koning Beals for marketwatch.com. OPEC is slated to curb production by 800,000 barrels a day, while Russia and nine allied producers will shoulder the remainder of the cuts.Both reports come less than a week after OPEC agreed with its nonmember partner producers — led by Russia — to collectively cut crude output by 1.2 million barrels a day starting in…

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Facing big loss, Swiss asset manager GAM cuts staff, dividend 

“The group revised its dividend policy for 2019 and beyond to target a minimum payout of half of underlying net profits” writes Didier Marti for cnbc.com. Swiss asset manager GAM Holding AG will cut staff by a tenth and omit a 2018 dividend, it said on Thursday, forecasting a 2018 net loss of around 925 million Swiss francs ($931 million) as it shakes up its embattled business.GAM assets had suffered a 17.7 billion franc hit in the third quarter due to slumping markets. Source: cnbc.com Share This:

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Is Team Trump ready for Pelosi’s ‘death by a thousand cuts’?

“But now that the House is changing hands, the president’s allies will have less power to stop Democrats, which signals trouble for the Trump administration” reports washingtonexaminer.com. “I think they are certainly not prepared for the death by a thousand cuts that is almost undoubtedly coming from Nancy Pelosi and House Democrats,” one source close to the administration told the Washington Examiner. Source: washingtonexaminer.com Share This:

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The Senate on Monday advanced the nomination of Justin Muzinich, a key designer of the administration’s tax overhaul, to be deputy secretary of the Treasury.

“He has been serving in the Treasury Department since February 2017 as counselor to the Treasury secretary, a position that doesn’t require Senate confirmation” reports washingtonexaminer.com. The deputy secretary position has been empty since Mnuchin was confirmed last year.The Senate on Monday advanced the nomination of Justin Muzinich, a key designer of the administration’s tax overhaul, to be deputy secretary of the Treasury.Democrats angered over Trump’s tax policy held up Muzinich’s nomination for months, following a party-line 14-13 Senate Finance Committee vote in July. Source: washingtonexaminer.com Share This:

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U.S. top court spurns Louisiana, Kansas on Planned Parenthood cuts

“Louisiana and Kansas announced Republican-backed plans to terminate funding for Planned Parenthood through Medicaid after an anti-abortion group released videos in 2015 purporting to show Planned Parenthood executives negotiating the for-profit sale of fetal tissue and body parts” writes Midwest Communications Inc for 95kqds.com. The justices left intact lower court rulings that prevented the two states from stripping government healthcare funding from local Planned Parenthood affiliates. Source: 95kqds.com Share This:

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