Catch up on what led Viola Davis to be nominated for the 2021 Oscars
Catch up on what led Viola Davis to be nominated for the 2021 Oscars
(Bloomberg) -- Tesla Inc.’s Chief Executive Officer Elon Musk said the electric-vehicle manufacturer is suspending purchases using Bitcoin, triggering a slide in the digital currency.In a post on Twitter Wednesday, Musk cited concerns about “rapidly increasing use of fossil fuels for Bitcoin mining and transactions,” while signaling that Tesla might accept other cryptocurrencies if they are much less energy intensive. He also said the company won’t be selling any of the Bitcoin it holds.The largest cryptocurrency dropped as much as 15% to just above $46,000, before paring some of the retreat. It was down about 6% to $50,980 as of 1:09 p.m. in Tokyo on Thursday. The rush to sell briefly caused outages at some digital-token exchanges. Bitcoin is still up more than fivefold in the past year.Musk’s move comes after Tesla disclosed in February that it had purchased $1.5 billion in Bitcoin and planned to accept it as a payment. That announcement added legitimacy to the cryptocurrency as an increasingly acceptable form of payment and an investment, especially coming from a large member of the S&P 500 with a high-profile CEO who commands a big following among retail investors and the general public.Tesla’s website, which had a support page dedicated to Bitcoin, noted that the token was the only cryptocurrency that Tesla accepts in the continental U.S. Musk has also tweeted frequently about Dogecoin, a cryptocurrency started as a joke in 2013 -- and he quipped about being the “Dogefather” before and during his stint hosting the “Saturday Night Live” show on May 8. He tweeted on Tuesday, “Do you want Tesla to accept Doge?”Tesla’s addition of Bitcoin to its balance sheet was the most visible catalyst during this year’s rally in the digital currency. Bitcoin jumped 16% that day, the biggest one-day gain since the Covid-19 inspired financial markets volatility in March 2020.Optimism grew after Mastercard Inc., Bank of New York Mellon Corp. and other firms moved to make it easier for customers to use cryptocurrencies, fueling the mainstream resurgence that took Bitcoin from about $29,000 at the end of last year to as high as almost $65,000 in April.Bitcoin mining is consuming 66 times more electricity than it did back in late 2015, and the carbon emissions associated with it will likely face increasing scrutiny, according to a recent Citigroup Inc. report.Musk is no stranger to considering the issue of crypto’s environmental impact.Cathie Wood’s Ark Investment Management LLC published a report last month saying cryptocurrency mining can drive investment in solar power and make more renewable energy available to the grid. Twitter Inc.’s Jack Dorsey retweeted a post on the white paper with the comment that Bitcoin “incentivizes renewable energy.” Musk replied to Dorsey’s tweet, saying simply, “True.”Musk’s tweet on Wednesday took many in the cryptocurrency community by surprise, including Nic Carter, founding partner at Castle Island Ventures, and a leading voice among defenders of Bitcoin’s energy use.“Surely he would have done his diligence prior to accepting Bitcoin?’ Carter said. “Very odd and confusing to see this quick reversal.”It’s unclear what prompted the decision and Musk and Zachary Kirkhorn, Tesla’s chief financial officer, didn’t immediately respond to an email inquiry for comment. Kirkhorn in March added the tongue-in-cheek title “Master of Coin,” according to a regulatory filing.Tesla’s first-quarter earnings were bolstered by the sale of 10% of its Bitcoin holdings. Musk said last month the disposal was intended to demonstrate the token’s liquidity, and added that he’s retained his personal investment in the cryptocurrency. Kirkhorn said on an earnings call that the company believes in Bitcoin’s long-term value.(Updates markets in the third paragraph. An earlier version of this story corrected the company name in the 11th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Boeing gained approval from the Federal Aviation Administration for a "fix" to a 737 MAX planes electrical issue affecting roughly 100 aircraft worldwide, Reuters first reported Wednesday night. Why it matters: Wednesday's approval paves the way for a swift return of the flights that were removed from service early last month. Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for freeThe aircraft manufacturer has been hit by production and design problems over the 737 MAX jets, most notably two fatal plane crashes that prompted the grounding of all MAXs for more than a year.What they're saying: "After gaining final approvals from the FAA, we have issued service bulletins for the affected fleet," Boeing said in an emailed statement."We'll continue to stay close to our customers as they complete the work to return their airplanes to service. We are also completing the work as we prepare to resume deliveries."The FAA did not immediately respond to Axios' request for comment. But FAA Administrator Steve Dickson told the U.S. House Appropriations subcommittee overseeing transportation earlier Wednesday the issue was a "pretty straightforward fix," according to Reuters."It is performing as well or better overall than any other airplane out there in the aviation system right now."DicksonLike this article? Get more from Axios and subscribe to Axios Markets for free.
Asian stock markets followed Wall Street lower for a second day Thursday after unexpectedly strong U.S. consumer price increases fueled worries inflation might drag on an economic recovery.
The rules only apply to all communist party members, civil servants and village organisation leaders.
Coercive policies in China's far western region of Xinjiang have led to a sharp decline in birth rates for Uyghurs and other minorities, which could add to evidence of genocide, an Australian think tank said in a report released on Wednesday. The Australian Strategic Policy Institute (ASPI) report, citing official Chinese data, said that there has been an "unprecedented and precipitous drop in official birth-rates in Xinjiang since 2017," when China began a campaign to control birth rates in the region. Xinjiang's birth rate dropped by nearly half from 2017 to 2019, and counties where the population was predominately Uyghur or another minority group saw much sharper declines than other counties, the government-funded institute said in the report.
The Biden administration swung aggressively into action after a primary gasoline pipeline fell prey to a cyberattack — understanding that the situation posed a possible series of political and economic risks. The pipeline shutdown was an all-hands-on-deck situation for a young presidency that has also had to deal with a pandemic, a recession, an influx of unaccompanied children at the southern border, a troop withdrawal from Afghanistan and high-stakes showdowns globally that carry the specter of war. The administration devoted the first half of the week to showcasing all the steps it was taking to get gas back to service stations in affected areas.
Bjørn Johnsen scored two first-half goals and Montreal beat Inter Miami 2-0 on Wednesday night in a game delayed by lightning for more than two hours. Johnsen raced past the defense in the 14th minute for Djordje Mihailovic's through ball and slotted it inside the near post. Eleven minutes later, following a Miami giveaway, Johnsen redirected Romell Quioto's pass off the post and in.
Prior to the start of Season 2 of this year's DPC, DreamLeague and ESL changed their league's rules to allow coaches to communicate with their teams during games, not just during the draft.
The board went into executive session after the vote for a new board president was tied.
Robert Collier says that during the seven years he worked as an operating room aide at Parkland Memorial Hospital in Dallas, white nurses called him and other Black employees “boy." Now, however, at a private conference Thursday, the Supreme Court will consider for the first time whether to hear his case. Focusing on the elevator graffiti, Collier is asking the justices to decide whether a single use of the N-word in the workplace can create a hostile work environment, giving an employee the ability to pursue a case under Title VII of the landmark Civil Rights Act of 1964.
Damian Lillard scored 30 points and CJ McCollum added 26 to lead the Portland Trail Blazers to a 105-98 victory over the Utah Jazz on Wednesday night. Carmelo Anthony added 18 points for Portland. Jusuf Nurkic chipped in 11 points and 15 rebounds.
For pro-Trump Republicans, removing Rep. Liz Cheney from House GOP leadership was relatively easy. The rush to punish Cheney for her criticism of former President Donald Trump and his loyalists is drawing a cast of Wyoming primary challengers so big it could ultimately help her win again next year. Another boost for Cheney is a pile of campaign money and a family legacy that has helped her before.
Rookie Andrew Vaughn hit his first career home run, Yasmani Grandal connected for the second straight day and the Chicago White Sox beat the Minnesota Twins 13-8 Wednesday night for their fifth win in a row. José Abreu drove in three runs and Billy Hamilton matched his career high with four hits and also scored three times. The White Sox have won six of seven, boosting the best record in the majors to 21-13.
Staunch supporters of bitcoin on Wednesday night were questioning Elon Musk's crypto bona fides after the CEO of Tesla Inc. said that the company would halt its experiment of selling its electric vehicles using bitcoin due to "rapidly increasing use of fossil fuels" mining the digital asset.
Rudy Gobert (Utah Jazz) with a dunk vs the Portland Trail Blazers, 05/12/2021
Jordan Clarkson (Utah Jazz) with a buzzer beater vs the Portland Trail Blazers, 05/12/2021
Top buzzer beaters from Utah Jazz vs. Portland Trail Blazers, 05/12/2021
Bojan Bogdanovic (Utah Jazz) with a 2-pointer vs the Portland Trail Blazers, 05/12/2021
Reports of sexual assaults across the U.S. military increased by a very small amount in 2020, a year when troops were largely locked down for months as bases around the world grappled with the COVID-19 pandemic, according to U.S. officials. Officials familiar with the data said sexual assault reports went up by about 1%, compared with the 2019 totals. In 2019, there were more than 7,800 reported sexual assaults, up from more than 6,000 the previous year.
Royce O'Neale (Utah Jazz) with an assist vs the Portland Trail Blazers, 05/12/2021