News 

Israel’s Monday.com raises $50 million, brings total to $84 million

“In the last year, the company tripled revenue to tens of millions of dollars, tripled its customer base to more than 35,000, and more than doubled headcount to 130” writes Midwest Communications Inc for 95kqds.com. In addition, the company secured a strategic line of credit of tens of millions of dollars from LeumiTech, the technology arm of Israel’s Bank Leumi. Source: 95kqds.com Share This:

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Xiaomi shares surge 13 percent after lackluster first day of trade

“Shares of Chinese electronics-maker Xiaomi surged over 13 percent Tuesday on just its second day of trade following its initial public offering (IPO)” writes unknown author for cnbc.com. Xiaomi shares closed at 19 Hong Kong dollars ($2.17), above its IPO price of 17 Hong Kong dollars.The rise is a welcome boost for the world’s fourth-largest smartphone maker, which went public Monday and saw its shares fall.The share price surge came after the company behind the Hang Seng Index, which includes companies like Tencent and China Mobile, said Monday that it…

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Large global investor has record portfolio value, but it may slow down investments

“In the past year, the company made investments worth 29 billion Singapore dollars and divested 16 billion Singapore dollars” writes Yen Nee Lee for cnbc.com. The company said the size of its portfolio grew to 308 billion Singapore dollars ($235 billion) in the year ended March 31, representing a 12 percent increase year-over-year in local currency terms.Singapore’s state investment firm Temasek Holdings said Tuesday the value of its portfolio jumped above 300 billion Singapore dollars for the first time ever. Source: cnbc.com Share This:

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Futures Markets News 

Gold marks best settlement in nearly 2 weeks after the dollar’s recent retreat

“A weaker buck can make assets pegged to the currency, including gold, more attractive to buyers using other monetary units” writes Markets Commodities Reporter for marketwatch.com. Gold futures prices climbed Monday, with the recent retreat in the U.S. dollar helping to lift the metal to its strongest finish in nearly two weeks, as investors tested key chart territory for bruised bullion.China is one of the world’s biggest buyers in metals, including gold.The dollar index has posted gains in each of the last three months, while gold futures fell in April,…

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Mysterious airline fees are costing passengers hundreds of dollars and no one knows what they go to pay for

“Prominent travel industry analyst Henry Harteveldt went as far as calling these carrier-imposed fees an “indirect price hike.”” writes Benjamin Zhang for businessinsider.com. The other $544 is made up of various taxes and fees imposed by the US and UK governments as well as the airline.While most other taxes and surcharge end up in government coffers, the “carrier-imposed fees,” as the name would suggest, goes directly into the airlines’ bank accounts.”Without these fees, most airlines won’t be able to report gross profits, let alone net profits.”.  Source: businessinsider.com Share This:

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Malaysia’s former prime minister has been arrested in a corruption investigation after billions of dollars went missing on his watch

“As prime minister, Najib sacked Malaysia’s attorney general and anti-investigation commission chief when they attempted to investigation the scandal” writes Finanzen Net Gmbh for businessinsider.com. Malaysia’s new prime minister, 92-year-old Mahathir Mohamad, made the 1MDB investigation a priority upon entering office in May, the Nikkei Asian Review reported.Najib Razak, the former Prime Minister of Malaysia, has been arrested in a corruption investigation.The former leader lost a re-election bid earlier this year after billions of dollars went missing from 1MDB, a state investment fund that he set up.Police seized $273 million…

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News 

Who Really Stands To Win From Universal Basic Income?

“Guaranteed income, reconceived as basic income, is gaining support across the spectrum, from libertarians to labor leaders” writes Adrian Chen for newyorker.com. A universal basic income, or U.B.I., is a fixed income that every adult—rich or poor, working or idle—automatically receives from government.People generally have a visceral reaction to the idea of a universal basic income.A couple of years ago, the Dutch professional thought leader Rutger Bregman championed universal basic income in his popular book “Utopia for Realists”—a title that reflects the volume’s tone. Source: newyorker.com Share This:

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Crypto News 

Cryptocurrency’s Real Value More Than Bitcoin…

“In the world of Bitcoin and altcoins, the latter group often offers technical developments which make their way to Bitcoin eventually” writes Jp Buntinx for livebitcoinnews.com. The cryptocurrency industry is not just about Bitcoin.More competition in the cryptocurrency industry has never been a bad thing.Additionally, all alternative currencies derive most of their value from BTC due to it being the market leader. Source: livebitcoinnews.com Share This:

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Actually, trade deficits mean the U.S. is winning

“Nations are willing to accept U.S. dollars in exchange for their goods because they trust that the dollar will retain its value” writes Brad Schiller for latimes.com. Chinese manufacturers know they can use those dollars to buy pork from Australia or wheat from Argentina.They can also use those dollars to invest in American industry or U.S. securities.The long history of U.S. dollar stability gives the U.S. this unique trade advantage — a key reason we can import more goods than we export year after year. Again, this is not a…

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Crypto News Platforms 

Bittrex Opens Direct Purchase of Cryptocurrencies with Dollars

“Bittrex, a cryptocurrency exchange with its headquarters in the USA, has announced that they will offer direct dollar to crypto purchases in selected locations, according to an article published by Bloomberg” reports btcnn.com. The reason is that Bittrex is a crypto to crypto only exchange.This means that for people to exchange any kind of cryptocurrencies in its platform, they need to have another cryptocurrency already.Bittrex has partnered with New York-based Signature Bank, a full-fledged commercial bank that will work with them to provide the support necessary for customers to buy cryptocurrency with…

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