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As Bitcoin soared to above $28,000 over the weekend, talk resumed about the promising and dramatic future of cryptocurrency. The chief global strategist of Morgan Stanley Investment Management even suggested that Bitcoin could replace the dollar as a global reserve currency. Cryptocurrency serves some useful purposes. But there are some pretty wild speculations going around. One of the more fundamental ...

As long as Wall Street has been in existence, it has been a tradition around this time of year for market participants to make predictions about what might happen to stock prices, interest rates, commodities and exchange rates in the following 12 months. These predictions garner a lot of attention, as they are made by very smart people with access ...

Russian prime ministers are often swiftly forgotten. Few, like Vladimir Putin himself, have gone on to greater things. Since taking over as prime minister in January, Mikhail Mishustin has promoted himself out of the first group. The tech-savvy former tax chief became the face of the government’s coronavirus response after Putin, early on, faded from view. He’s pushing through an ...

Bloomberg Southwest Airlines Co. said it would rescind plans to cut jobs and wages next year, now that new federal payroll support has been approved, averting what would have been the first worker layoffs in the carrier’s history. US airlines will receive $15 billion to pay workers as part of the package President Donald Trump signed into law on Sunday. ...

Bloomberg Smaller Chinese companies and those in the retail industry are struggling to access credit amid a weak recovery in consumer spending, according to China Beige Book International (CBBI), a provider of independent economic data. Loan rejection rates for retail businesses increased to 38% in the final quarter of 2020 from 14% in the previous quarter, according to the latest ...

Bloomberg Commercial drone use for deliveries and services is set to clear a major hurdle in the US as soon as this week with new requirements that most of the devices transmit a radio beacon with a digital license plate to help ensure safety and prevent misuse. All but the smallest drones will have to broadcast a radio signal identifying ...

Bloomberg Ryanair Holdings Plc and Wizz Air Holdings Plc will take away the voting rights of shareholders outside of the European Union to ensure they comply with the bloc’s airline ownership rules after the Brexit transition. All non-EU nationals will lose their voting rights from January 1, Irish discounter Ryanair said on Tuesday in a statement. Hungarian rival Wizz said ...

Bloomberg French retailers called for government support after sales failed to rebound fully from a second lockdown, suggesting measures to fight the coronavirus pandemic are changing consumer patterns. Despite a good pick-up in spending thanks to Black Friday discounts and year-end purchases, many clothing, shoe, jewelry, beauty-product and perfume retailers face a drop in revenue of more than 20% in ...

Bloomberg Burundi will relaunch a state-owned airline next year, more than a decade after the failure of its erstwhile carrier, Air Burundi. The state will hold a 92% stake in Burundi Airlines, which will be the latest carrier to enter East African skies after the introduction of Uganda Airlines and the revamping of Air Tanzania Co. A Belgian company will ...

Bloomberg President-elect Joe Biden accused Trump loyalists at national security agencies of throwing up roadblocks to a smooth presidential transition and warned that adversaries could take advantage of the situation without better cooperation from the outgoing administration. “We need to make sure nothing is lost in the hand-off between administrations,” he said after a meeting with his national security advisers ...