Aug 31, 2023

Grayscale Ruling Not Enough to Halt Bitcoin’s Two-Month Losing Streak One Ship in Panama Canal Paid $2.4 Million to Skip the Line Canada to Reveal Plan for Emissions Cap on Oil and Gas This Fall Investment rushes into industrial sector amid geopolitical tensions: Expert Hong Kong Braces as Super Typhoon Saola on Track to Hit City Bank Stocks Careen Toward Worst Month Since SVB Sparked Crisis European Copper Giant Says It Is Victim of Huge Metal Theft Bitwise Urges SEC to Greenlight All Bitcoin Spot ETFs as Deadline Looms ECB Officials Saw Inflation Outlook as Highly Uncertain: Account Broadcom’s Earnings Will Test Whether AI Euphoria Is Fading Sculptor Says Weinstein Raised Offer, But It Still Prefers Rithm Cash-Like ETFs Lure Billions as Traders Shelter From Volatility VIX Fear Gauge’s Only Competitor Set to Vanish From the Market Gabon Coup Tests Two-Week-Old $500 Million BofA Debt Swap A Single Dose of Magic Mushroom Psychedelic Can Ease Major Depression, Study Finds Virtu Sues to Block Tech Executive’s Move to Rival Clear Street China Lowers Down Payment, Mortgage Rate in Stimulus Push Hedge Fund Legacy Capital Hires From Rivals to Expand FX Desk in Brazil Gazprom Venture’s Claims Against European Banks Top $1 Billion Dale Jackson: Options could be the right option for your portfolio Canadian tech company uses AI to assess loan qualifications Don’t shy away from asking for a raise, even with recession fears: Experts Finding the right investments for a FHSA can be tricky Canadian spending habits showing early signs of slowing, RBC report finds Dale Jackson: Is your mutual fund really an overpriced ETF? Young Canadians flocking to First Home Savings Accounts, banks say Spending on fun isn’t impossible — it’s just hard, experts say Majority of parents worry about their kid's financial future: Survey Bank of Canada delivers growth and security to retirement portfolios What to consider before budgeting with the cash-stuffing method Northwest Territories to increase minimum wage by nearly 5.6 per cent WonderFi interim CEO on possible changes now that crypto merger is finalized Debt, savings worries up as higher interest rates and costs take a toll: surveys Set your investment portfolio for summer, but don’t forget it Canada Post, TD end MyMoney loan program after less than a year Bank stocks versus GICs: Battle of the income titans Government benefits helped lower-income households afford rising cost of living: PBO CPA Canada says provincial organizations severing ties over governance disagreements US Mortgage Rates See First Drop in Six Weeks, Falling to 7.18% CIBC Misses Estimates as Provisions for Souring Loans Increase China’s Home Sales Drop for a Third Month as Slowdown Deepens Australia Property Prices Accelerate as Supply Shortfall Bites China Evergrande Unable to Pay Wealth Products Due to Cash Crunch Trump Inflated Assets by $2.2 Billion, NY AG Says in Fraud Case Country Garden Enters Key Phase as Voting Ends on Bond Extension Turkey Bans ‘Fake’ Sellers to Stop Price Gouging Via Online Ads Country Garden Downgraded by Moody’s as Default Pressure Mounts M&S Takes Legal Action Against Government Over Marble Arch Row China Builder Sino-Ocean Wins Vote to Extend Yuan Bond Russians Top Emaar Buyers as Demand for Dubai Homes Stays Strong Biggest Indian Bank’s Unit Plans $2 Billion Private Credit Fund Sogo & Seibu Strike Shuts Tokyo Store Ahead of Seven & I Deal Asian Credit Spreads Widen Most in Five Months on China Fears UK Property Turmoil Reshapes Britain’s Benchmark FTSE 100 Index Country Garden Posts Record Half-Year Loss Amid Default Fears Two Chinese Mega Cities Relax Mortgage Rules to Shore Up Housing US Officials Weigh Pathway to Let More Firms Tap Federal Home Loan Banks NJ Transit Workers Vote to Strike, But Walk-Off Risk Likely Months Away Xi Might Skip G-20 Summit. Biden Says He ‘Hopes’ Otherwise Fake Spare Parts Were Supplied to Fix Top-Selling Jet Engines Grayscale Ruling Not Enough to Halt Bitcoin’s Two-Month Losing Streak One Ship in Panama Canal Paid $2.4 Million to Skip the Line Intel Rallies on CEO Gelsinger’s Optimistic Comments Canada to Reveal Plan for Emissions Cap on Oil and Gas This Fall Toronto-area Metro workers ratify second tentative agreement after month-long strike Hong Kong Braces as Super Typhoon Saola on Track to Hit City Kenya Inflation Eases for Third Month on Slower Food-Price Growth Bank Stocks Careen Toward Worst Month Since SVB Sparked Crisis Outgoing Stanford President Retracts Two Studies From Science After Review European Copper Giant Says It Is Victim of Huge Metal Theft Share of US Small Businesses With Job Openings Is Smallest Since 2021 GOP Presidential Hopefuls Are Poised to Shatter Ad Spending Records Microsoft’s Hotly Awaited ‘Starfield’ Game Scores With Critics Bitwise Urges SEC to Greenlight All Bitcoin Spot ETFs as Deadline Looms ECB Officials Saw Inflation Outlook as Highly Uncertain: Account Amazon’s One Medical CEO to Leave Later This Year One Ship in Panama Canal Paid $2.4 Million to Skip the Line Canada to Reveal Plan for Emissions Cap on Oil and Gas This Fall Kenya Inflation Eases for Third Month on Slower Food-Price Growth European Copper Giant Says It Is Victim of Huge Metal Theft VIX Fear Gauge’s Only Competitor Set to Vanish From the Market Gazprom Venture’s Claims Against European Banks Top $1 Billion US Providing Up to $12 Billion to Retrofit Auto Plants for EVs Venezuela Oil Bond Rallies 160% as Investors Eye Citgo Payout Cathay Expects to Suspend Hong Kong Flights as Typhoon Nears Ukraine Recap: Defense Minister May Exit; Germany Sends Tanks Xi Planning to Skip G-20 Summit While China-India Tensions Mount Russia Agrees on Further OPEC+ Oil-Export Cuts, Novak Says Gabon Junta Cements Grip as Deposed Leader Appeals for Help Sri Lanka August Inflation Moderates as Food Price Gains Slow Hurricane Idalia Exposes Florida’s Dangerous Flood Insurance Gap Iran Uranium Near Bomb-Grade Is Focus of Atomic Watchdog Report Micro Nuclear Plants Gain Traction With Alaska Military Base Win Sunak’s Limited UK Cabinet Changes Leave Tories Doubting Resolve Exxon’s Last Bearish Analyst Taps Out After Oil Rally Prompts Upgrade Intact Financial estimates Q3 catastrophe losses so far at $570 million Spending data suggests 'soft patch' is here to stay: TD report Bank of Canada’s next rate move depends on Friday economic data Rising housing costs push more Canadians to co-purchase properties: Survey Non-permanent residents in Canada undercounted by one million: CIBC ​The Daily Chase: National Bank misses; Tentative deal in Metro strike The Daily Chase: Misses from BMO, Scotiabank Canada will be affected by China's economic volatility: Expert ​The Daily Chase: Autoworkers approve strikes; Bank earnings week Canadian banks face squeeze between climate expectations, market pressures Unifor autoworkers overwhelmingly vote to authorize strikes at GM, Ford, Stellantis Grocery prices stayed high in June: StatsCan ​The Daily Chase: View from Jackson Hole; Teck coal bids Back-to-school: Parents offer tips on how they save during annual shopping spree Cap on foreign student visas 'sensible' way to quell rental demand: Expert ​The Daily Chase: RBC beats profit expectations; TD misses ​Canada likely sitting on the largest housing bubble of all time: Strategist ​The Daily Chase: Canadian retail sales up; Peloton in trouble Back-to-school shoppers expected to head back to stores but pull back on spending McConnell Had Lightheadedness, Cleared to Work After Freezing Trump Pleads Not Guilty in Georgia Election Conspiracy Case Kenya Inflation Eases for Third Month on Slower Food-Price Growth Biden Will Visit Florida Saturday to Survey Idalia’s Aftermath GOP Presidential Hopefuls Are Poised to Shatter Ad Spending Records US Providing Up to $12 Billion to Retrofit Auto Plants for EVs Ukraine Recap: Defense Minister May Exit; Germany Sends Tanks School Buildings in England Ordered to Shut Over Collapse Risks Xi Planning to Skip G-20 Summit While China-India Tensions Mount Justice Clarence Thomas Discloses Trips Paid for by GOP Donor Harlan Crow Gabon Junta Cements Grip as Deposed Leader Appeals for Help South Africa’s Ramaphosa Cancels Thursday Address to the Nation Iran Uranium Near Bomb-Grade Is Focus of Atomic Watchdog Report Biden Asks Congress for Short-Term Spending to Avert Shutdown Embattled Estonian Premier Says She’ll Win Bid to Stay in Power Sunak’s Limited UK Cabinet Changes Leave Tories Doubting Resolve Chile Hit by Raft of Weaker-Than-Expected Data Ahead of Rate Decision Vietnam Opposes New China Map Claiming South China Sea Islands Ramaphosa to Address Nation on BRICS, Alleged Russia Arms Deal Xi Might Skip G-20 Summit. Biden Says He ‘Hopes’ Otherwise Grayscale Ruling Not Enough to Halt Bitcoin’s Two-Month Losing Streak Intel Rallies on CEO Gelsinger’s Optimistic Comments Kenya Inflation Eases for Third Month on Slower Food-Price Growth Microsoft’s Hotly Awaited ‘Starfield’ Game Scores With Critics Bitwise Urges SEC to Greenlight All Bitcoin Spot ETFs as Deadline Looms Amazon’s One Medical CEO to Leave Later This Year Broadcom’s Earnings Will Test Whether AI Euphoria Is Fading Virtu Sues to Block Tech Executive’s Move to Rival Clear Street China Lowers Down Payment, Mortgage Rate in Stimulus Push Grayscale Faces ‘Instantaneous’ Fee War In US Spot-Bitcoin ETF Race Here Are Trump's 18 Co-Defendants in the Georgia 2020 Election Case Raimondo Revives China Business Talks But Delivers No Deals Bumble CEO Predicts AI Dating Coach Will Teach You How to Flirt China’s Home Sales Drop for a Third Month as Slowdown Deepens X Plans to Collect User Biometric Data, Job and School History ASML Says It Can Ship Restricted Chip-Making Gear Until Year End Palantir Downgraded as Morgan Stanley Doesn’t See AI Boost Yet Salesforce Projects Revenue Topping Estimates, Easing Fears The U.S. Fed is failing in four ways: Mohamed A. El-Erian Apple, JPMorgan turn to pay now grow later Remote Working Boom Is Huge for College Towns Like Knoxville Walmart flashes a warning sign to the entire consumer economy: Andrea Felsted Millennials are finally spending like grown-ups Dismal U.S. GDP report raises the odds of recession this year: Gary Shilling Musk is wrong for Twitter even if deal math works out Chocolate bunnies can teach us to save our food supply The Fed has made a U.S. recession inevitable America's oil reserve weapon risks misfiring Four-day workweeks can burn you out U.S. Fed expects a soft landing. Don't count on it Markets are pushing Fed into developing-economy territory Commodity traders go from bonanza to bailout plea Putin's war shows West must clean up dirty money Salary transparency is good for everyone Microsoft's US$69B Activision deal could be a blunder What if the oil market bulls are wrong and this lonely bear is right? Canada's trucker protest may spread from Ottawa to U.S. Bitwise Urges SEC to Greenlight All Bitcoin Spot ETFs as Deadline Looms Cash-Like ETFs Lure Billions as Traders Shelter From Volatility Grayscale Faces ‘Instantaneous’ Fee War In US Spot-Bitcoin ETF Race Active ETFs Cash In on Corporate Reform in Japan Tesla Internal Purchasing Probe Draws US Prosecutor Scrutiny Gutsy Tesla ETF Wants to Time Bets on Famously Volatile Shares Bitcoin ETF Euphoria Recedes While Weary Crypto Advocates Seek More Clarity Marks & Spencer Makes a Return to the FTSE 100 as Hiscox Loses Out in Reshuffle Grayscale CEO Unsure if Firm Has to Refile With SEC for Spot Bitcoin ETF The World’s Biggest Bitcoin Fund Posts Best Day in Two Years on Court Ruling Biggest China ETF Sees Record Inflow on Market Turnaround Bets US Court Paves Way for First Bitcoin ETF in Grayscale Ruling What Grayscale's Court Victory Means for Crypto and a US Spot-Bitcoin ETF Bitcoin, Crypto Stocks Jump After US Court Paves Way for ETF Crypto ETF Drags ESG Label Into Wildly Volatile World of Bitcoin Wall Street Reels From Painful August as Winning Trades Go Sour Five Key Charts to Watch in Global Commodity Markets This Week Bitcoin ETF Deadlines Loom Again for SEC Ahead of Labor Day Weekend JPMorgan Sees ‘Limited Downside’ for Crypto Near Term After Bitcoin’s Recent Rout BCE You are now being redirected to the BCE.ca website (Bell Canada Enterprises), where you can view our Accessibility plan, and submit your feedback using our Accessibility webform. Isabelle Lee, Bloomberg News , Source: Google Trends (Bloomberg) -- Blame it on seasonality, dwindling interest or traders away on holiday, but Bitcoin is ending on a down note for a second consecutive month even with one of the most potentially positive developments for cryptocurrencies in awhile. The world’s largest digital asset had been mired in a tight trading range for months until a steep drop in the middle of August dragged the price of Bitcoin below $26,000. Traders chalked it up in part to bond yields climbing to the highest in more than a decade at that time. Since then, Bitcoin has struggled to regain its footing. Not even the aftermath of a court ruling that appears to pave the way for a long-sought US exchange-traded fund that invests directly in Bitcoin. After jumping 6% on Tuesday on the ruling, Bitcoin is down for a second day at around $26,300, bringing the monthly drop to about 10%. Enthusiasm for crypto has dissipated after a scandal-ridden 2022 that led to the collapse of several major participants. The waning interest can be seen in areas such as perpetual futures, one of the most popular derivatives contracts in crypto markets. Open interest, or the total number of outstanding contracts it the lowest in more than a year. Even Google searches for Bitcoin, or cryptocurrency in general, have hit five-year lows. “Just about every metric you could imagine from a trading perspective is lower,” said Stephane Ouellette, chief executive of FRNT Financial Inc, an institutional platform focused on digital assets. Beyond a handful of larger players and miners, trading he said is at “incredibly depressed levels.” He added that this is especially pronounced in North America. On Tuesday, Grayscale Investments LLC won what some industry observers are calling a watershed victory when a US appeals panel overturned the SEC’s rejection of a plan to convert its Bitcoin trust to an ETF. Advocates have long said that an ETF could result in a gush of retail cash. “It has been a painfully quiet month for the cryptocurrency but this week has been the exception,” said Fiona Cincotta, senior market analyst at City Index. “The Grayscale news has provided a short-term boost but with regulators still keen to tame the wild west of the financial world, this story could be more drawn out.” After a first-half surge of around 80%, Bitcoin is down around 13% in July and August. It had tumbled 64% last year and still trades at less than half the all-time high of around $69,000 in late 2021. The grind higher in global yields comes as resilient economic data challenges the view that central banks rates are peaking. Higher interest rates generally lessen the appeal of alternative investments such as cryptocurrencies. Still, crypto advocates remain unbroken. “All bull runs are driven by new money coming into a market,” said Noelle Acheson, author of the “Crypto Is Macro Now” newsletter. “In the case of crypto, where is that new money going to come from? Not crypto investors, they’re already involved. It’ll come from macro funds, who for now have their hands full figuring out why stock valuations have been inhaling helium and just how much higher can bond yields go.” ©2023 Bloomberg L.P.