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Trump just made a big move that could deescalate the trade war with China
After fears that Trump would introduce harsh measures to curb Chinese investment in US-based technology companies, the US president instead decided to use less stringent methods to curb the practice, including the expanded use of the Committee on Foreign Investment in the United States.
In a statement Wednesday, Trump said his administration was banking on Congress’ passing the Foreign Investment Risk Review Modernisation Act, which would give more power to the committee.
Goldman’s CEO-in-waiting just released his first electronic dance single
Goldman Sachs’ resident DJ may just have the song of the summer.
The bank’s president and part-time electronic music mix-master released his first single in early June called “Don’t Stop,” Business Insider has learned. Available on Spotify and Apple Music under the name D-Sol, the tune is a dance remix of the popular song first released by Fleetwood Mac in 1977.
Spotify has already put the song into three of its mixes which include “happy summer beats” and “fresh electronic.” “Don’t Stop” was produced by Crowd Records, a New York-based electronic music label, whose other artists include Disco Killerz, Filthy Rich, and Solomon pal Liquid Todd.
HSBC deploying robot in NYC bank branch
On Tuesday, HSBC unveiled its newest branch banker. This time, it’s not another human with ambitions to be the next Jamie Dimon, but Pepper, a robot built by SoftBank Robotics to imitate human characteristics. The investment is intended to bring foot traffic and new business to the firm’s flagship New York location on Fifth Avenue, and improve the branch experience for customers.
The brainchild of HSBC’s US retail banking and wealth management chief, Pablo Sanchez, and his head of innovation, Jeremy Balkin, Pepper is the first robot to be used in a US bank branch.
The CEO behind the first prescription marijuana drug explains what the move means
Monday was both a milestone and a jumping off point for Justin Gover, CEO of a company that makes Epidiolex, a medicine that just became the first marijuana-derived drug to win federal approval.
Made by GW Pharmaceuticals, the drug treats two rare types of epilepsy using CBD, a therapeutic compound in cannabis that’s not linked with a high. Gover said the green light signifies that his company’s recent efforts in developing more drugs from marijuana’s compounds (also known as cannabinoids) finally have a concrete path forward.
Crypto exchange Uphold is the latest to use M&A to trade securities
Uphold, a cryptocurrency and global currency exchange, just made a major move toward becoming a licensed securities trader.
On Wednesday, Uphold announced its plans to acquire JNK Securities Corp., a registered broker-dealer that has the licenses necessary to trade any cryptocurrencies that may be regulated as securities by the US Securities and Exchange Commission.
Cryptocurrency exchanges in the US have historically gone unlicensed since US regulatory agencies haven’t taken an official stance on whether cryptocurrencies are considered securities.
In markets news
- The stocks Wall Street hates the most are on a tear, and Morgan Stanley has a strategy to continue profiting from their rise
- ‘His legacy is tarnished’: The big shake-up at GE is a direct challenge to former CEO Jeff Immelt’s most prized achievements
- A Goldman Sachs indicator closely watched by economists just flashed red – and it’s signalling tough times ahead for US growth
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