Markets News 

In swaps we trust? Disappearing dollars drive currency trading dependence

“It affected us in the FX swaps market a great deal” writes Midwest Communications Inc for 95kqds.com. LONDON (Reuters) – As dollars dry up, global finance is growing increasingly dependent on opaque currency trading to keep cash flowing.Reflecting the increased reliance on currency markets to borrow dollars, FX swap volumes have grown to represent 49% of total currency trading, from 42% in 2013, Bank for International Settlements (BIS) figures from August show.”We have dollar liquidity that partly depends on (the) forex swap market, as we don’t have dollar deposits.Unlike regular…

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Markets News 

Move over TikTok: Disney+ is #1 in the App Store

“Disney+ took the No. 1 spot from TikTok on Wednesday to become the top free app in Apple’s App Store in the U.S. and Canada” writes Haidee Chu for mashable.com. A new app sits atop the App Store throne just a day after its debut.”TikTok and Disney+ are also very different apps in terms of what they provide users.”. Within just 24 hours, Disney+ amassed 3.2 million total downloads and 1.3 million hours in user views on iOS and Android mobile devices (more hours than Amazon Prime or Roku), according…

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Markets News 

Canaan Creative Sets Terms, Plans to Rake in $100 Million in Upcoming US IPO

“Chinese cryptocurrency mining giant Canaan Creative has announced terms for its United States initial public offering (IPO) planned for later this month” writes Joeri Cant for cointelegraph.com. On Nov. 13, Renaissance Capital reported that Bitcoin (BTC) mining giant Canaan Creative announced its plans to raise $100 million by offering 10 million American depositary shares (ADS) at a price range from $9 to $11.An ADS is a U.S. dollar-denominated equity share of a foreign-based company available for purchase on an American stock exchange.This would potentially put the company’s overall market value…

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Markets News Regulators 

Fed Chief Powell Says “Sustained Expansion” Likely for Economy

“You tend to see negative rates in the larger economies at times when growth is quite low and inflation is quite low” writes Min Read for reuters.com. Powell’s opening statement, in fact, emphasized that even after a year in which many market analysts saw a rising risk of a U.S. recession, the Fed’s outlook is for continued growth.We have growth, we have a strong consumer sector, we have inflation …WASHINGTON (Reuters) – U.S. Federal Reserve Chair Jerome Powell on Wednesday pushed back against a favorite talking point of President Donald…

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Markets News 

Apple and Google are taking over the wearables market. Here’s why Boston’s Whoop thinks a small startup can win by giving away its fitness-tracking straps.

“We’re in a growing market, we’re a growing company, and we’ve built very unique tech.”” writes Bani Sapra for businessinsider.com. The Whoop Strap 3.0 is a screenless wristband that gathers data on your body, including your activity, exercise, and sleep, similar to Fitbit’s line of activity-tracking wearables. Source: businessinsider.com

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Markets News 

The bond market is raising red flags about a trade deal, while stocks largely ignore

“People are worried about this trade deal and what the substance of it is.”” writes Patti Domm for cnbc.com. By Wednesday morning, the 10-year yield had fallen to 1.86%, six basis points lower than Tuesday’s close of 1.92%.Goldman Sachs strategists see scope for a higher 10-year yield but how high depends on the type of trade deal.It does run the risk of a boy who cried wolf dynamic, if you consistently get indications a trade deal is soon and it doesn’t actually occur.There supposedly is a phase on trade deal…

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Markets News Platforms 

The CEO of Freshworks had an idea 10 years ago when his TV was damaged by movers. Now his startup is worth $3.5 billion and is threatening Salesforce.

“He realized he had to capitalize on this opportunity and started a customer support company called Freshdesk in 2010” writes Paayal Zaveri for businessinsider.com. In 2010, Freshwork’s CEO Girish Mathrubootham saw a massive opportunity to change the way companies do customer support.He added that he thinks there is a better solution where customers don’t need to integrate services on top of a “bare bones” CRM platform. Mathrubootham said the company plans to use the money raised in this round to continue growing before looking towards an IPO.During the move his…

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Markets News 

Are ESG mutual funds good for retirees?

“The ensuing debate over SRI and ESG investing is potentially an existential one for retirees and soon-to-be retirees, however” writes Mark Hulbert for marketwatch.com. The first conclusion I draw is not to place too much importance on various performance comparisons involving ESG/ SRI funds.Should retirees and soon-to-be-retirees invest in SRI and ESG mutual funds?. Consider the three major ESG indexes that index provider MSCI maintains for the U.S. market: The MSCI USA ESG Select Index SUSA, +0.01%, the MSCI USA ESG Leaders Index USSG, +0.22%, and the MSCI USA ESG…

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Markets News Oil 

4 of the world’s top oil and gas executives explain why they’re backing a landmark trading deal that could revolutionize the industry

“Many Asian refiners run Murban crude in their systems, and I’d like to welcome them to be on-board with us” writes Joe Ciolli for businessinsider.com. “The biggest change I’ve seen over the years is the huge influx of US-based crude oil.ABU DHABI — It’s not every day that you get the world’s top oil and gas executives in the same room.US crude oil has no destination restrictions.If the Murban contract is on par value with liquidity, down the road, some US companies might want to price their crude oil against…

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