Timeline
Monday
Twitter (TWTR)- The social media platform has announced a new, very significant feature. Soon it will be possible for users of the platform to send each other “tips” in the form of cryptocurrencies. For this purpose, the Twitter profile will be linked to the corresponding crypto wallet. Payment works via common payment platforms, such as Cash App, Patreon or Venom.
Tuesday
Commodities- The price of European Brent oil has risen above $80 for the first time in 3 years. The share prices of Oil companies such as Royal Dutch Shell (RDS) and Total (TOT) subsequently increased for that reason. Gas shortages in the UK and parts of Europe are the catalyst of this, according to analysts, as diesel and gasoline are substitutes for gas in many cases. Therefore, if gas shortages continue, prices can be expected to continue to rise as winter is still ahead. In addition, there is a shortage of supply due to the hurricane season in the United States. Since Hurricane Ida at the end of August, the region has produced a total of 74.4 million barrels (1 barrel = ~159 liters) less than planned.
Ford (F)- The U.S. automaker plans to invest about $11 billion in the electric pick-up truck division together with South Korean battery maker SK Innovation. Ford plans to shoulder the bulk of the investment and hire about 11,000 new employees at plants in Kentucky and Tennessee. SK, on the other hand, has announced plans to build three more plants to meet demand.
Wednesday
Netflix (NFLX)- The streaming provider has concretized its plans to enter the video game market. The US group has therefore expanded its portfolio. Netflix bought the indie video game company “Night School Studio” for an undisclosed price. In addition, Netflix has already positioned itself in the mobile video game market in Italy. For Android users, five games are now made available in the subscription function — i.e. no extra charge has to be paid.
Thursday
United Airlines (UAL) — The U.S. airline has laid off nearly 600 employees after an ultimatum expired. The ultimatum was set to allow employees to get vaccinated against Covid-19 by last Monday. The terminated employees could not show a health or religious exemption. Company CEO Scott Kirby commented, “this was an incredibly difficult decision, but the safety of our team has always been our top priority.” As a result of the mandatory vaccination program, which other major U.S. companies have also implemented, approximately 97% of United Airlines’ 67,00 employees have been vaccinated.
Friday
Allianz (ALV)- The Munich-based company was able to transfer a legacy portfolio of Swiss life insurance policies to reinsurer Resolution Re. This will provide Allianz with a financial boost worth billions of euros, which should help protect it against upcoming penalty payments.
In addition, Jacqueline Hunt, Member of the Board of Management for Asset Management and U.S. Life Insurance, has stepped down from her post early.
Crypto
Coinbase (COIN) — After Tom Brady stated that he wants to receive part of his salary in cryptocurrencies, the trading platform Coinbase is now following suit. In the future, employees will have the option of receiving their own salary directly via their private Coinbase account. This approach circumvents waiting times and transaction fees.
El Salvador- The first state in the world, which recognized bitcoin as an official currency last June, is now commissioning its first Bitcoin mining facility. The 40-year-old president, Nayib Bukele, made the announcement via Twitter by sharing a video of the facility. The mining facility is powered by volcanic energy, which means that the bitcoin mined in El Salvador is considered carbon neutral.
The mentioned companies and firms have no association with getquin. The above references an opinion and is for information purposes only. It is not intended to be investment advice.
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