In the crypto world, Bitcoin continues to reign supreme. The largest digital asset is outperforming the next three biggest alternatives this year. It’s managed to hold above the key $10,000 level in the face of increasing headwinds. In times of recent market turbulence, it’s even taken on somewhat of a safe-haven accreditation. But technical indicators show the price action between Bitcoin and alternative tokens is nearing its highest correlation this year, indicating that a so-called…"Bitcoin is surging. Could smaller rivals be due for rallies, too?"
THE PESO edged lower on Wednesday as the Bangko Sentral ng Pilipinas (BSP) chief hinted on another rate cut this year. The local unit ended at P52.321 against the greenback on Wednesday, shedding 6.1 centavos from its P52.26-to-a-dollar close on Tuesday. The peso opened at P52.28 versus the dollar. It traded in a tight range, with its weakest point recorded at P52.33, while its intraday best was at P52.22 against the greenback. Dollars traded on…"Peso down on BSP easing bets"
Canadian condominiums may be the “future of our communities” but per square foot, they are hardly a bargain. According to a Royal LePage report released today, aside from Vancouver and Calgary, every major city’s condo price per square foot has increased. With the exception of Vancouver, the median price per square foot of a condo is now higher than that of a single family detached home nationwide. “While condo units are smaller, they are the…"Condos, the ‘future of our communities’, now cost more per square foot than a detached home"
Restrictions on MacBook Pro laptops on flights spread, with Qantas Airways Ltd. barring some models from checked-in luggage on concern that batteries could catch fire. All 15-inch versions of Apple Inc.’s MacBook Pro must be carried in the cabin and switched off, Qantas said in a statement Wednesday. The rule went into effect Tuesday morning. Rival Virgin Australia Holdings Ltd. went further on Aug. 26, banning all Apple laptops from checked-in luggage. Australia’s two biggest airlines join…"More Airlines Are Banning Some Apple Laptops from Checked Luggage"
Look out, world—WeWork is showing no signs of slowing their plans for industry-wide domination. The We Company announced Tuesday that they will acquire on-demand workspace company Spacious—a rival that transforms empty space in restaurants during the day into co-working spaces. The acquisition, while relatively small (Spacious has raised around $9 million in private funding) would add to WeWork’s ever-growing number of acquisitions. WeWork declined to comment on the price of the acquisition. “WeWork is still…"WeWork Continues Consolidation Spree with Acquisition of Spacious"
Warner Brothers might be more familiar for its shows and movies, but the company also turns out some big game hits with its Interactive Entertainment division. Now Warner Bros. Interactive Entertainment is expanding with a new games studio in San Diego. The new studio, WB Games San Diego, doesn’t just mark a growing gaming empire. It’s a stake in the growing free-to-play mobile games market as the new studio will focus specifically on the genre.…"Warner Bros. Interactive Expands, Opening New Free-to-Play Video Game Studio in San Diego"
Litigate, or settle? On the heels of a $572 million verdict handed down in Oklahoma yesterday to pharmaceuticals giant Johnson & Johnson, came reports Wednesday that Purdue Pharma, the maker of OxyContin, and the Sackler Family who own it are ready to make a deal. According to NBC News, an offer of $10 billion to $12 billion to cover some 2,000 lawsuits against the company is on the table. And, experts say, more defendants may…"What the Sackler Offer and the J&J Opioid Verdict Tell Us About the Next Big Test for Drugmakers—an Ohio Trial in October"
Peloton Interactive, the home exercise startup, has filed an initial public offering. The New York-based company listed its offering size as $500 million in a filing Wednesday with the U.S. Securities and Exchange Commission. That amount is a placeholder and may change. Founded in 2012, Peloton describes itself as the “largest interactive fitness platform in the world” with more than 1.4 million members, according to the filing. The company sells exercise bikes and treadmills that…"Fitness Space Disrupter Peloton Interactive Filed for an IPO on Nasdaq"
When it comes to print-at-home guns, it’s a question of who’s violating the Constitution—the federal agency accused of recklessly deregulating the weapons or the states that claim they’re a threat to public safety. A U.S. judge could provide an answer any day now—and address the balance of power between states and the federal government—in a ruling on digital blueprints that a small gun-technology company, Defense Distributed, wants to publish online for anyone with a 3-D…"Are Blueprints for 3D-Printed Guns Protected by the Constitution? A U.S. Judge Is Considering the Question"
Contrary to a New York Post story, luxury e-commerce site Farfetch isn’t negotiating to buy Barneys New York. “The story is incorrect—Farfetch is not acquiring Barneys New York,” the online retailer said in a statement issued today. The Post story, headlined “Barneys in talks for sale to online luxury retailer Farfetch: sources,” suggests that Farfetch convinced the department store’s landlord to slash the rent for its Madison Avenue flagship and release several thousand square feet…"Farfetch Refutes Report of Plans to Buy Barneys New York"