Crypto News 

Crypto prices drift lower, but holding inside short-term ranges

“Global crypto organizations will still be waiting to see how the U.S. moves to regulate crypto going forward” writes Aaron Hankin for marketwatch.com. Major digital currency prices drifted lower on Wednesday, erasing the small gains made on Tuesday, but holding inside recent tight ranges.Bitcoin, BTCUSD, -0.06%  the best-known cryptocurrency, was changing hands at $3,850.60, down 0.4% since Tuesday’s level at 5 p.m.The digital currency has yet to trade outside the $3,400 – $4,400 range this year. Source: marketwatch.com

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GBP Markets News 

Sterling holds steady ahead of European markets open

“Despite May’s defeat in the second meaningful vote yesterday, the pound is holding steady with cable lurking near the 1.3100 handle as we start to prepare for a vote on a no-deal Brexit later this evening” reports forexlive.com. As it stands, markets are anticipating that we’re headed towards a Brexit extension in the coming days/weeks, so that is still helping to support the quid ahead of the London open today. Looking ahead, Brexit headlines are likely to occupy much of the European morning but they shouldn’t be as impactful as…

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News 

Ireland’s Varadkar: Instrument agreed does not reopen deal or undermine backstop

“Whatever that is agreed in the May-Juncker meeting basically just adds to the withdrawal agreement, it doesn’t change the core of what was agreed upon beforehand” reports forexlive.com. The pound is still holding steady though with cable at 1.3230 currently and EUR/GBP sitting lower at 0.8520, off the lows a little as the euro is also holding firm on the day. Source: forexlive.com

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News 

Austria’s Signa partners with RFR to buy New York’s Chrysler Building: sources

“Led by its founder Rend Benkoe, Signa has a sprawling real estate and retail portfolio in Europe” writes Midwest Communications Inc for 95kqds.com. (Reuters) – Signa Holding GmbH, Austria’s largest privately owned real estate company, will buy the iconic Chrysler Building in New York City in partnership with property firm RFR Holding LLC for about $150 million, people familiar with the matter said. Source: 95kqds.com

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Markets News 

Japanese yen leads gains ahead of European markets open

“Chinese equities are extending losses to 4% on the day ahead of the close now and that will continue to fuel further negativity in European assets later today” reports forexlive.com. That said, trading ranges remain relatively narrow and the dollar is also holding rather steady on the day ahead of US non-farm payrolls data later.The yen is the strongest performing major currency as equity markets are slumping due to fresh concerns about the health of global economic growth. That will be the next key event for markets to react upon…

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News 

Xerox to reorganize its corporate structure to form holding company

“XRX, -0.77% said Thursday it is planning to reorganize its corporate structure into a holding company, of which it will become a wholly owned subsidiary” writes Ciara Linnane for marketwatch.com. The holding company will trade on the New York Stock Exchange under the ticker symbol “XRX.” The change must be approved by shareholders and is expected to be implemented in mid-2019.In a filing with the Securities and Exchange Commission, the company said the purpose of the move is to provide it with greater strategic, operational and financial flexibility.The company’s business…

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News 

Company holding migrant children ditches plan to go public over outcry

“A private company holding more than a thousand migrant children at a detention camp in Florida scrapped plans to go public amid an outcry by critics who accused the corporation of profiting off children” reports nypost.com. Caliburn’s facility in Homestead, in the Miami suburbs, is one of the nation’s largest and the only one run by a for-profit company.In a press release issued Tuesday, the company blamed “variability in the equity markets” but said it continues to grow and may return to the offer in the future. Source: nypost.com

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Markets News 

Egypt’s microfinance market grows by over 100% y-o-y: EFG Finance Holding CEO

“Similarly, Khalid Elgibaly, MENA division president at Mastercard, said that financial inclusion is a fundamental engine of economic growth across the Middle East, North Africa, and other emerging economies” writes Mohamed Samir for dailynewsegypt.com. Egyptian authorities have been planning to achieve financial inclusion and migrate towards a cashless society for years.Some large banks are slowly moving away from traditional services but, in general, most are still not successful at bringing banking to a large part of the population.The company’s valU app, which allows customers to shop and pay in installments…

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News 

Elizabeth Warren’s Small-Dollar Pledge Isn’t Just Symbolic

“But now Elizabeth Warren is upping the ante, rejecting an entirely new pool of donors on top of corporate PACs” writes Elaine Godfrey for theatlantic.com. Rejecting donations from corporate political-action committees has become a trend among Democrats.The Massachusetts senator recently announced she would no longer participate in the high-dollar fundraisers and phone calls with wealthy donors that typically permeate a presidential campaign, and on Monday she challenged other candidates to do the same. Source: theatlantic.com

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News 

Egyptian Arab Land Bank signs cooperation protocol with Nile Capital Holding

“Amr Kamal, chairperson of the board of directors of the Egyptian Arab Land Bank, and Basel Hussein Roushdy, chairperson and managing director of Nile Capital Holding Company for Financial Investments, signed a cooperation protocol covering the fields of microfinance, private education, urban development, contracting, healthcare and renewable energy” writes Daily News Egypt for dailynewsegypt.com. According to Kamal, such a partnership represents one of the objectives and strategies set by the bank’s board of directors, in support of the economic and community development framework.It is also a continuation of the bank’s…

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