Mark Zuckerberg says he ‘regrets’ bowing to COVID-19 censorship pressure
“I believe the government pressure was wrong, and I regret that we were not more outspoken about it,” said the Meta CEO in a letter.
“I believe the government pressure was wrong, and I regret that we were not more outspoken about it,” said the Meta CEO in a letter.
According to BlockBeats, on August 27, San Francisco Federal Reserve President Mary Daly stated that she believes it is appropriate for the Federal Reserve to begin cutting interest rates. In an interview on Monday, Daly mentioned, 'The labor market has achieved full balance. The time to adjust policy has arrived.'This perspective aligns with Federal Reserve Chairman Jerome Powell's remarks last week. During the Jackson Hole symposium, Powell expressed confidence that the inflation rate is on its way back to 2%, similarly noting that 'the time to adjust policy has arrived.' Daly emphasized that the Federal Reserve must bring the inflation rate down to the 2% target, but she and her colleagues will also strive to prevent restrictive policies from harming the labor market.
According to Cointelegraph, the United States Securities and Exchange Commission (SEC) announced that cryptocurrency platform Abra has agreed to a settlement over allegations that the firm did not register the offers and sales of its lending product.In an August 26 notice, the regulator stated that Abra, “without admitting or denying the SEC’s allegations,” has agreed to pay civil penalties to be determined by a court and an injunction prohibiting the firm from violating securities laws. The SEC filed charges against the lending platform for failing to register the offers and sales of Abra Earn and operating as an unregistered investment company.The SEC alleged that Abra marketed its Earn service as a way for investors to earn interest “auto-magically” but instead generated income for itself. The platform began offering Abra Earn to US investors in July 2020, facilitating roughly $600 million in assets globally at its peak.“Abra allegedly sold its own securities while skirting applicable Investment Company Act provisions that provide a number of important protections to investors, including minimizing conflicts of interest,” said SEC enforcement associate director Stacy Bogert. “This matter reflects yet again, that in conducting enforcement investigations, we are governed by economic realities, not cosmetic labels.”This is a developing story, and further information will be added as it becomes available.
With the prospect of the Federal Reserve cutting current interest rates becoming more real, new opportunities could begin to arise for commercial retail estate in an easing rate environment. Hines Global CIO David Steinbach joins Market Domination Overtime to give insight into why now may be the time for investors to get into retail real estate. "When you look on the private side of where to invest right now, again, we think the market is well poised for a recovery. A lot of capital is focused on a lot of other sectors... so there's a dearth of capital for deals. It is going to be mostly grocery-anchored, open-air spaces that activate, they're experience-based," Steinbach tells Yahoo Finance. "Also spaces that have taken advantage of the omnichannel presence that a lot of online retailers have really used and still look at Whole Foods-Amazon (AMZN), that dynamic has driven footfall." Steinbach suggests avoiding investing in projects requiring "massive renovation," such as closing mall spaces. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Nicholas Jacobino
– Morocco stocks were lower after the close on Monday, as losses in the Forestry&Paper, Pharmaceutical Industry and Utilities sectors led shares lower.
According to Odaily, Federal Reserve's Barkin has announced a 'test and learn' approach to handling interest rate cuts. The decline in inflation, which initially began in the goods sector, has now spread to other parts of the economy. This development has bolstered confidence that the downward trend in inflation will continue.
– Saudi Arabia stocks were lower after the close on Monday, as losses in the Agriculture&Food, Retail and Transport sectors led shares lower.
The US dollar continues to see a lot of noisy behavior, as we are trying to stabilize overall against the Japanese yen.
Sector Update: Financial Stocks Advance Premarket Monday
The Aussie continues to see a lot of noisy behavior, but on Monday is already starting to see a bit of resistance and downward pressure, but at this point, its obviously a market that is going to be choppy.