Story of the Day

Alibaba Set to Raise Close to $14 Billion from Upcoming Hong Kong Listing

Alibaba Group Holding Ltd., has announced pricing for its soon-to-come share listing in Hong Kong. Estimated to have a target to raise $13.8 billion, the company will be selling 12.5 million shares exclusively to retail investors and has pegged it at HK$188 per share. Roughly $24, the sale will easily take its place as Hong...
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Bitcoin Price Slips below $8700 despite High Open Interest

After consolidating its position above $8700 levels for the past few days, the Bitcoin price crashed another 1% today. At press time, Bitcoin is trading at $8640 with a market cap of $155 billion. The latest price drop comes as Bitcoin has been a victim of sideways trading ever since it failed to sustain above...
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Google Partners with Citi Bank Offering Checking Accounts to Rival Big Techs in Banking Dominance

Technological advancements have shaken up every sector of the global economy in recent years. Now, the banking space is under siege from various tech giants. These big tech companies see financial services as a method of getting closer to users and collecting valuable data.  Interestingly, Apple Inc. introduced a credit card this summer in partnership...
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Despite Libra Hurdles, Facebook Announces Its All-App Payments Service Facebook Pay

The Facebook Pay will be a unified payment service available across all Facebook apps like Messenger, Instagram, and WhatsApp. This service will work independently from Facebook’s Calibra network and wallet. Social media giant Facebook Inc. has now decided to consolidate all of its payment services under a single umbrella. On Tuesday, November 12, Facebook announced...
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Apple Set to Debut a New MacBook Pro with Several Major Updates

Apple’s new MacBook Pro laptop will be available for purchase this week. It will cost about the same as the 15-inch model that starts at $2,399. An American multinational technology company Apple is on the threshold of presenting a new product. The company is going to introduce a new version of the MacBook Pro laptop....
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CME Group to Finalize the Launch of Its Bitcoin Options in January 2020

The CME Group has announced an official date for the launch of its Bitcoin options citing massive customer demand and growing interest for Bitcoin exposure. While the news about CME Group launching options for its Bitcoin futures contracts has been making rounds for the last few, it has now been confirmed officially. The derivatives platform...
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Google Collected Personal Health Data Through ‘Project Nightingale’

It is believed that Google secretly gathered millions of patient records in the framework of the initiative that is known under the name “Project Nightingale”. It seems Google has secretly gathered impressive volumes of patient records across 21 states on behalf of a health care provider. It is supposed to have been done via a...
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The Royal Bank of Canada to Launch Its Cryptocurrency Exchange

Photo: RBC The biggest Canadian bank, Royal Bank of Canada (RBC), might just possibly launch its own cryptocurrency trading platform. Media sources familiar with the situation said that RBC, that has more than $965 billion in total assets, has applied for four patents in Canada and the U.S. Those patents, according to the sources are...
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India’s Tata Group Seeks BMW and Geely Partnership to Share Development Costs

The Tata Group has approached both BMW AG and the Geely Group in its hunt for partnerships to share some of its financial burdens. According to a recent Bloomberg story citing people familiar with the situation, an unconfirmed partnership in the global automobile industry is in the offing. Current reports have it that the Jaguar...
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Tencent to Lose Billions and Significantly Fall behind Alibaba Following NBA Streaming Mishap

Photo: QuoteInspector Tencent Holdings Ltd, one of China’s biggest firms, generally has its hands in a little bit of every pie including gaming and sports. However, it would seem like there are dog days ahead for the giant firm, following a simple tweet in support of protests in Hong Kong. Back in 2018, Tencent successfully...
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China’s Bitcoin Mining Firm Canaan Creative to Launch Its IPO Next Week on Nasdaq

Failing to go public on the China and Hong Kong exchanges, Canaan now will make its public listing through the Nasdaq platform. Canaan Creative, the Chinese Bitcoin mining company is all set to go public by listing its shares on the Nasdaq trading platform next week on November 20. As we have already reported, Canaan filed...
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Bakkt Bitcoin Custody Warehouse Gets Ultra Secured and Available Worldwide

Bakkt announced that now they have all the needed papers from New York regulators to operate with institutional Bitcoin custody contracts. The venture hopes that with top guards surrounding the warehouse, security cameras, and iron doors, it will make the vault unbreakable. Bakkt is already setting the all-time highs with cryptocurrency trading. That’s why it...
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Is Bitcoin’s Current Weight Loss Related to Bakkt’s Volume Weight Gain?

Bakkt has set a new all-time high in traded volumes as it has done a few times recently, while BTC has lost some of its weight in pretty much the same period. Yesterday, Bakkt set a new record high just as the Bitcoin price fell as it’s wont to do. While the two events are...
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Crypto-Focused Silvergate Bank Goes Public on New York Stock Exchange

Silvergate is planning to sell more than 3.3 million shares of its Class A common stock, at $12 per share. Silvergate Bank, a crypto-forward bank, has officially gone public on the New York Stock Exchange (NYSE). The initial public offering (IPO) has been a long time coming as plans to launch officially began last year....
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China Won’t Be Banning Bitcoin Mining Activities in the Country

Great news for cryptocurrency miners as they can now leverage China’s abundant supply of cheap and affordable hydroelectric power for Bitcoin mining activities. It’s a great moment of cheer for all cryptocurrency miners carrying out operations based out of China. In the latest development, the China National Development and Reform Commission (NDRC) has decided to...
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Uber Stock Tumbles as Company Reports over $1 Billion in Losses

Uber has released reports for its third quarter which, unsurprisingly, still records significant losses. Apart from the popularity of its ride-hailing services, Uber is also very well-known as a market player all over the world and especially in the finance sphere for its continuous and rising loss over the years. Recently the company announced a...
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Microsoft Introduces Blockchain Platform for Minting Enterprise Tokens on Azure

Microsoft has announced the Azure Blockchain Tokens platform which will allow building blockchain tokens in the cloud. In a move that has seen Big Tech enter the crypto space on a whole new level, Microsoft has launched a platform on its Azure cloud infrastructure to make token deployment to become as easy as possible. Referred...
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Stellar Foundation Burns 55 Billion XLM Tokens, Half of the Total Supply

Lumens (XLM) token price jumped high as the Stellar Foundation decided to burn almost half of its total XLM supply. During the Stellar Meridian conference on Monday, November 4, the Stellar Development Foundation CEO Denelle Dixon disclosed that they have burned 55 billion Lumens (XLM) tokens which is half of the overall cryptocurrency supply. Earlier...
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Apple Partnering with Valve on Augmented Reality

The first Apple Glasses are supposed to drop at some point next year, and Apple is teaming up with Valve to make them. Apple has reportedly partnered with the U.S. game developer Valve in order to develop its long-awaited and thoroughly spoken off, AR headset, which is expected to be launched next year. DigiTimes reports:...
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World’s Largest Oil Producer Saudi Aramco Files for an Initial Public Offering

The shares of the world’s largest oil producer Saudi Aramco will be traded on the local exchange Tadawul starting December 2019. Saudi Aramco, the world’s largest and state-owned oil producer of Saudi Arabia, has announced its plans of Initial Public Offering (IPO) on Sunday, November 3. This is likely to be the largest ever initial...
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U.S. Stock Market Showing the Possibility of a Big Rally before the Year-End

Several indicators and historical chart patterns show that the U.S. Stock market can see a Santa-Claus rally in the coming two months. Over the last few months, the rising tensions due to the escalating U.S.-China trade war has left global investors in worry. Several analysts have also raised fears of possible recession by the next...
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After a Row of Leaks Diablo 4 Is Finally Officially Announced

Diablo 4 has been unveiled at the ongoing Blizzconn 2019. However, the stocks of Activision Blizzard haven’t reacted. After years of so much speculation, the Diablo 4 video game has been announced by Blizzard Entertainment. And yes, it happened after so much speculation on whether it would ever be created. As it was expected, this...
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Google Set to Buy Smartwatch Maker Fitbit for $2.1 Billion

It has now been confirmed that Google’s parent Alphabet and Fitbit would be closing a deal at a valuation of $2.1 billion. About a week ago, rumors regarding Google’s parent Alphabet’s decision to acquire American wearable maker Fitbit, surfaced online. Now, Google has officially confirmed that it will buy the Fitbit company in a new...
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Deribit to Compensate Users for Its Error Resulting in Bitcoin Price Crash

Photo: Deribit On Thursday, October 31, Bitcoin witnessed a major flash crash to $9000 levels on two exchanges – Coinbase Pro and Deribit. On Thursday, at 19:55 UTC, BTC spot price crashed from $9260 to $9055 in a short span of time. Just within an hour later, futures and options exchange, Deribit saw BTC futures...
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Launched Today Apple TV Plus Is to Compete with Disney+ In Streaming Wars

Apple TV Plus launched on Friday for $4.99 per month with only four original shows and no library of licensed content. Long-awaited Apple’s TV streaming service Apple TV Plus is finally live and you can start watching it on any platform that offers the Apple TV app, including iPhone, iPad, Apple TV and support non-Apple...
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Bitcoin Price Stays Stable despite Federal Reserve Cuts Rates

For the third time this year, the U.S. Federal Reserve has cut interest rates amid a global economic slowdown. However, BTC price stays stable. The U.S. Federal Reserve has lowered interest rates by a quarter of a percentage, exactly rate by 25 basis points to a range of 1.5% to 1.75%, as it was expected....
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Pavel Durov’s Telegram Reaches 1 Billion Users

At the beginning of 2018, Telegram had 200 million users, which means that the popularity of the messenger has incredibly increased.   Good news for Pavel Durov and the Telegram community: the number of users of the messenger has exceeded one billion. “The number of Telegram users has exceeded one billion. This is easy to see...
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Deutsche Bank Suffers a 832 Million Euro Setback amid Ongoing Restructuring

If compared with the previous year, shares of Deutsche Bank have lost over 16%. Earlier this year, the bank announced a wide restructuring plan. Deutsche Bank has embarked on a comprehensive restructuring plan, in a move to revive its failing business, according to reports from earlier this year, but recent events show that its program...
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Bitmain Files Secret IPO Application with Deutsche Bank as Sponsor

Bitmain has reportedly filed with the SEC as it intends to go public in the U.S. At the moment, there aren’t specific details about the filing. Even though there’s currently no official word from the company, it has been reported that China’s Bitmain Technologies – one of the largest crypto mining manufactures in the world...
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Google Owner Alphabet Keen to Buy Fitbit as Both Stocks Rise Exponentially

Google’s parent company Alphabet Inc. is keen on acquiring wearable fitness device maker Fitbit though the figures aren’t known yet. In what has been seen by many as a move into the fitness sector, Alphabet Inc. parent company of Google has been in talks with fitness device manufacturer Fitbit for the prospects of acquisition. Alphabet...
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