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Elon Musk may be rewarded with an additional $ 36 billion this year

 Elon Musk may be rewarded with an additional $ 36 billion this year Forecasters predict that Tesla will publish upbeat financial reports this year, helping Musk to add tens of billions of dollars in bonus shares. The richest person in the world is having a rough start to the year. Tesla shares fell 12% at the beginning of the week and continued to drop 1.2% yesterday. In total, over the past year, Musk's stake in Tesla has evaporated by about $30 billion. However, the next 12 months could be a great time for Musk. If the forecasters are right, Tesla will publish optimistic financial reports this year, helping Musk to add tens of billions of dollars in bonus shares. Forbes currently records Musk owns $241 billion. Musk does not receive a base salary or cash bonus from Tesla. Instead, he will receive stock options each time the company hits its capitalization and financial goals. The 2018 approval payment package for Musk includes the option to buy 101 million shares, divided into 1...
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Cross-border stock trading in Asia will use blockchain

 Cross-border stock trading in Asia will use blockchain ADB has just launched a project to use blockchain technology for cross-border securities trading in the Asia-Pacific. Cross-border securities transactions within ASEAN+3 (10 ASEAN countries and 3 Northeast Asian countries including Japan, Korea, and China) are now handled through a global network. This network consists of custodian and correspondent banks, through global centers in the US or Europe. Therefore, the processing of intra-regional transactions within ASEAN+3 takes at least two days, due to time differences as well as different working hours of markets in the same time zone. According to ADB, directly connecting institutions in a blockchain network can reduce transaction costs. Besides, this activity also reduces settlement risk which is the possibility of securities not being traded within an agreed time frame. The bank plans to work with leading blockchain companies to find ways to develop a way to directly connec...
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Gold prices, US stocks plunge because of the Fed

 Gold prices, US stocks plunge because of the Fed The possibility that the Fed will raise interest rates in March causes the DJIA, S&P 500 indexes to go down, and the price of gold to drop by nearly $30 an ounce. Closing the session on January 26, the world spot gold price lost 28.5 USD to 1,819 USD an ounce. Prices fell as the US dollar and US government bond yields rose after US Federal Reserve Chairman Jerome Powell said it was "possible" to raise interest rates at a mid-March meeting. The world gold price dropped yesterday. The world gold price dropped yesterday. During the session, the precious metal fell to $1,815 at one point – the lowest in a week. High interest rates increase the opportunity cost of holding a non-yielding instrument, like gold. "Powell's tightening statements about the possibility of a March rate hike, the strength of the economy and remarks about the size of the balance sheet have sparked a wave of bond selling and dragged down The US d...
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WTO: China is taxed on 645 million USD of US goods

 WTO: China is taxed on 645 million USD of US goods The World Trade Organization (WTO) on January 26 issued a ruling allowing China to impose import duties on US goods in a 10-year lawsuit. In 2012, China sued the WTO over the US's imposition of anti-subsidy duties from 2008 to 2012, mainly during the tenure of former President Barack Obama, on 22 Chinese products, from solar cells to fiber steel. The decade-long lawsuit has focused on whether the United States has the right to treat large government-owned Chinese companies as government-controlled companies. Chinese steel is one of the items subject to anti-subsidy tariffs by the US. Photo: Reuters Chinese steel is one of the items subject to anti-subsidy tariffs by the US. Photo: Reuters On January 26, the World Trade Organization (WTO) issued a ruling allowing China to impose a clearing tax on US$645 million worth of US goods. Adam Hodge, a spokesman for the Office of the US Trade Representative, said that the WTO had made a ...
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Tesla records profit

 Tesla records profit The electric-car company has tripled its profit in the fourth quarter of 2021 compared to the same period a year earlier, easily beating Wall Street's forecast. Tesla yesterday announced its financial results for the fourth quarter of 2021 showing a profit of $ 2.9 billion, up sharply from $ 903 million in the same period a year ago. This figure also exceeded the $2.6 billion forecast by analysts in a Refinitiv survey. Revenue reached $17.7 billion, up 65%. The above results pulled full-year profit to $ 7.6 billion. Revenue also increased to 53.8 billion USD. A Tesla Model S at the showroom. Photo: Reuters A Tesla Model S at the showroom. Photo: Reuters CEO Elon Musk yesterday said Tesla is suspending plans for new products, due to supply chain problems. "We're not going to launch a new car this year," Musk said. "We're still ready for production, hopefully next year." Tesla previously mentioned a variety of vehicles that are about ...
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EU sues China to WTO

 EU sues China to WTO The European Union (EU) today filed an application with the World Trade Organization (WTO), accusing China of discriminating against Lithuania. The EU says tensions between China and Lithuania are affecting other European exports. The European Commission (EC) confirmed that it has collected evidence of China's actions. These include refusing customs clearance for Lithuanian goods, refusing applications to import goods from Lithuania and pressuring other European companies to remove Lithuania from their supply chains when exporting to China. The AP said the diplomatic tension between the two countries appeared after Lithuania in November 2021 approved the representative office of Taiwan (China) in the capital Vilnius to be named Taiwan instead of the traditional Taipei. The building where the representative office of Taiwan island is located in the capital Vilnius, Lithuania on November 18. Photo: AFP The building where the representative office of Taiwan islan...
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Apple hits record quarterly revenue

 Apple hits record quarterly revenue Apple's revenue beat Wall Street expectations, marking the tech company's victory over chip shortages and the pandemic. Apple on January 27 announced that revenue for the last quarter of last year increased 11% compared to the same period a year earlier, to a record of $ 123.9 billion. Previously, analysts had expected this figure to be about 119.1 billion USD. Profits of the US technology company also beat forecasts. Apple expects sales to continue to double-digit growth this quarter. Following the news, Apple shares jumped 5.8% to more than $168.3. These positive results suggest that concerns about supply volatility have been overstated. Apple CEO Tim Cook warned late last year that component shortages could cost the company more than $6 billion in revenue during the important holiday season. However, the tech giant has weathered the crisis and benefited from a host of new products, including the iPhone 13, Apple Watch Series 7, and new Ma...
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