Newsletter Jan 11, 2024

Quick Six

US regulators authorize first bitcoin funds on public markets
US securities regulators gave the green light Wednesday to a group of bitcoin exchange-traded funds, a decision expected to boost the cryptocurrency. Regulators approved proposals for 11 ETFs to list on leading exchanges including the New York Stock Exchange "on an accelerated basis," the Securities and Exchange Commission said in a 22-page order. ETFs are traded on public markets, granting investors exposure to price movements in asset prices without taking direct ownership of the underlying assets. The funds themselves, however, do invest in the digital currency.
SEE HOW THE DECISION IS EXPECTED TO IMPACT BITCOIN

Amazon cuts hundreds of jobs at Twitch, Prime Video, MGM
Amazon's gamer streaming unit Twitch announced Wednesday that it was laying off 500 staff, reportedly one-third of the company, as it struggles financially despite strong popularity among players. The online shopping giant also said it was slashing hundreds of staff in its entertainment division, targeting both Prime Video and Amazon MGM Studio. The cull comes as part of Amazon's biggest ever job cutting plan launched last year, which it said will reach 27,000 positions across the company.
WHY AMAZON IS FORCED TO DOWNSIZE ENTERTAINMENT

Global employment rate expected to decline in 2024: UN
The global unemployment rate will increase slightly in 2024, the UN said Wednesday, raising concerns about stagnant productivity, worsening inequalities and inflation biting into disposable income. The UN's labor agency said the economic recovery from the Covid-19 pandemic has slowed, with geopolitical tensions and persistent inflation triggering aggressive moves by central banks.
HOW GLOBAL ECONOMIC GROWTH INCREASED IN 2023

You Might Like

Markets

DJIA	37,695.73	0.45%
S&P 500	4,783.45	0.57%
Nasdaq Composite	14,969.65	0.75%
Japan: Nikkei 225	34,441.72	2.01%
UK: FTSE 100	7,651.76	-0.42%
Crude Oil Futures	71.25	-0.17%
Gold Futures	2,030.90	0.15%
Yen	145.71	-0.03%
Euro	1.10	0.00%
* As of market close

UN demands Houthis end Red Sea attacks

The UN raised the alarm on Wednesday over attacks on shipping in the Red Sea, blamed by Western countries on Houthi rebels, and the risk of escalation in the region. Intensifying attacks by Yemen's Houthi rebels in the Red Sea have caused shipping companies to divert around Africa's Cape of Good Hope, significantly adding to journey times and cost. The UN Security Council voted on a resolution calling for an "immediate" end to stop targeting maritime traffic in the Red Sea.

US AND UK MAKE BIGGEST STANDS YET AGAINST THE HOUTHIS

Boeing probing cause of 'quality escape'

Boeing is still on a fact-finding mission following Friday's near-catastrophic aviation incident, searching for "what broke down" in its processes, Chief Executive Dave Calhoun said Wednesday. Calhoun, in his first media appearance since the Alaska Airlines panel blowout on a Boeing 737 MAX described the problem as a "quality escape" as the fleet is grounded pending mandatory inspections of the aircraft.

BOEING TAKING MORE HEAT FOR PERFORMANCE OF MAX 9s

Musk admits X cut over 1,000 'safety' staff

Elon Musk's X has shed more than 1,000 staff globally from teams responsible for stopping abusive content online, according to figures released Thursday. Australia's eSafety Commission said these "deep cuts" and the reinstatement of thousands of banned accounts created a "perfect storm" for the spread of harmful content, adding that Musk's takeover of X coincided with a spike in "toxicity and hate" on the platform.

SEE HOW MUSK IS DEFENDING HIS DECISION TO DOWNSIZE X

Extra point

Who were the co-founders of Tesla before Elon Musk took it over?

Wednesday's answer: China consumes more dogs (10 million) annually than any other nation. China also eats the most cats (4 million) per year.

IBTimes will always protect your security and privacy. Please read our detailed Privacy Policy. Please do not reply to this email. Click here to adjust your notification preferences or unsubscribe.