EU States Approve First-Ever Global Comprehensive Crypto Rules
Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
EU States Approve First-Ever Global Comprehensive Crypto Rules
EU States Approve First-Ever , Global Comprehensive Crypto Rules.
The rules were approved at an EU finance minister meeting on May 16, CNBC reports.
Crypto regulation has been at the forefront of discussion since the collapse of FTX.
Recent events have confirmed the
urgent need for imposing rules which will better protect Europeans who have invested in these assets, and prevent the misuse of crypto industry for the purposes of money
laundering and financing of terrorism, Elisabeth Svantesson, finance minister for Sweden, via statement.
Now, any firm within the 27-country bloc
that wants "to issue, trade and safeguard" cryptocurrency must obtain a license, CNBC reports.
The new rules have undoubtedly put pressure on Britain, the U.S. and other countries to approve similar regulations, CNBC reports.
Britain has suggested a phased approach beginning with stablecoins and branching out to unbacked crypto assets, but the country hasn't established a timetable.
.
The U.S. has been using existing securities rules and is still deciding if new rules are needed and who would enforce them.
Hester Peirce, a U.S. derivatives regulator commissioner, recently said that federal and state authorities remain uncertain about any oversight role they may offer in the crypto sector.
We are wandering
in the desert a bit, Hester Peirce, a U.S. derivatives
regulator commissioner, via statement
The preliminary agreement reached on Wednesday paves the way for establishing common rules to manage an unexpected mass arrival of asylum seekers, a crucial element of the European Union's migration reform.
Credit: euronews (in English) Duration: 01:52Published
Euronews sits down with the President of the European Council Charles Michel to discuss the challenges facing the EU, future enlargement, support for Ukraine and the situation in Nagorno-Karabakh.
Credit: euronews (in English) Duration: 20:00Published
The European Commission has unveiled a preliminary list of four technology areas that have the highest risk of being misused to prop up autocratic regimes and violate human rights.
Credit: euronews (in English) Duration: 02:20Published
Coinbase Secures , Payment License in Singapore.
On Oct. 2, Coinbase announced that the
Monetary Authority of Singapore (MAS) has granted it the Major Payment Institution (MPI) license. .
The license will allow the crypto exchange to provide digital payment token services in the country. .
32% of Singaporeans own or have previously owned crypto, Coinbase reports.
Because of this, the company considers Singapore a "vital market.".
On its website, the MAS says that licenses are only granted to crypto firms if they have adequate anti-money laundering protocols in place.
"Most applicants have
not been successful," the MAS said.
So far, 14 companies have received a crypto payments license in the country, Reuters reports.
Among them are the Singapore arms of Revolut,
a British fintech company, and Blockchain.com.
Following the collapse of several crypto firms last year,
state investment firm Temasek cut staff compensation
for recommending a $275 million investment in FTX, .
which went bankrupt in
November 2022, Reuters reports
Credit: Wibbitz Top Stories Duration: 01:30Published
UAW Announces , New Strikes.
On Sept. 29, United Auto Workers (UAW) President Shawn Fain announced that two more GM and Ford assembly plants will go on strike in the U.S.
They are the GM Lansing Delta Township plant in Michigan and the Ford assembly plant in Chicago, CNBC reports. .
Approximately 6,900 autoworkers will join over 18,000 who are already on strike.
At this time, the UAW
will not launch additional
strikes against Stellantis
due to negotiation progress. .
Moments before this broadcast, Stellantis made significant progress on the 2009 cost of living allowance, the right not to cross a picket line, as well as the right to strike over product commitments and plant closures and outsourcing moratoriums, UAW President Shawn Fain, via statement.
We are excited about this momentum
at Stellantis and hope it continues, UAW President Shawn Fain, via statement.
GM claims that it has not yet received a "comprehensive counteroffer" to a
contract proposal it previously made.
Calling more strikes is just for the
headlines, not real progress. The number
of people negatively impacted by these strikes is growing and includes our customers who
buy and love the products we build, Gerald Johnson, GM’s head of
global manufacturing, via statement.
We’re here to reach an agreement so we can all get back to work,
and that remains our 100% focus, Gerald Johnson, GM’s head of
global manufacturing, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
McDonald’s to Raise Franchise Royalty Fees , for First Time in 30 Years.
Starting Jan. 1, new McDonald's franchisees will have to pay 5% in royalty fees, as opposed to the current requirement of 4%.
The increase is the fast food chain's
first in nearly three decades.
While we created the industry we now lead, we must continue to redefine what success looks like and position ourselves for long-term success to ensure the value of our brand remains as strong as ever, McDonald’s U.S. President Joe Erlinger, via CNBC.
We’re not changing services, but we
are trying to change the mindset by getting people to see and understand the power of what you buy into when you buy the McDonald’s brand, the McDonald’s system, McDonald’s U.S. President Joe Erlinger, via CNBC.
Existing franchisees or those who purchase franchised locations from another entity will not have to pay the higher percentage, CNBC reports. .
Current locations that
are rebuilt or transferred
between family members
will not be subjected
to the increase either.
Franchisees operate approximately 95% of the
fast food chain's U.S. restaurants, CNBC reports. .
While McDonald's franchisees have clashed with
the company over a variety of issues in the past.
average cash flows for
American operators have increased
35% over the past five years, CNBC reports.
Credit: Wibbitz Top Stories Duration: 01:30Published
Amazon to Hire 250,000 Workers , and Increase Pay Amid Holidays.
On Sept. 19, Amazon announced that it will hire 250,000 people to keep up with the holiday rush, CNBC reports.
That number is significantly
more than the 150,000 workers the
company said it would hire last year. .
This year, seasonal, part-time and full-time warehouse and delivery positions will be available. .
Hourly wages will be between $17 and $28.
Some locations will offer
sign-on bonuses up to $3,000.
Current warehouse and delivery
workers will receive $20.50 an hour.
Amazon announced the increase in wages last week at a conference for "its contracted delivery partner program," CNBC reports. .
The increase in driver wages will
stem from a $440 million investment
into the third-party delivery program.
This is going directly to DSPs, so that they
can offer competitive pay to their employees,
and build and retain great teams, Beryl Tomay, Amazon’s vice president of
last mile delivery and technology, via CNBC.
After Walmart, Amazon is the
second-largest employer in America.
After Walmart, Amazon is the
second-largest employer in America
Credit: Wibbitz Top Stories Duration: 01:31Published
House Republicans Release Short-Term Bill , to Avoid Government Shutdown.
The bill was released after House Republicans reached a tentative agreement on Sept. 17.
The deal would keep the government
funded until Oct. 31.
It would also reduce
domestic spending by 8%.
However, the bill also includes
immigration provisions and leaves out
aid for Ukraine or other disasters.
However, the bill also includes
immigration provisions and leaves out
aid for Ukraine or other disasters.
Because of this, it's not expected to pass the Senate if it is approved by the House, CNBC reports. .
Rep. Rosa DeLauro called the bill "extreme." .
Rather than "working on bipartisan solution[s]
that could be enacted,".
DeLauro accused House Republicans of attempting to
"cut funding to the National Institutes of Health including funding for cancer research, defund the police, and decrease resources to important allies like Ukraine and Israel.".
Speaker Kevin McCarthy
stands behind the bill.
A shutdown would only give strength to the Democrats. It would give the power to Biden.
It wouldn’t pay our troops. It wouldn’t pay our border agents. More people would be coming across. I actually want to achieve something, Kevin McCarthy, Speaker of the House, via interview on Fox News
Credit: Wibbitz Top Stories Duration: 01:30Published
Delta Changing Rules , to Make It Harder , to Earn Elite Status.
Delta Air Lines has announced changes
to how customers earn rewards and gain
access to the carrier's airport lounges.
CNBC reports that the changes come
as the latest sign that air travel's era of
mass luxury may be coming to an end. .
Beginning on January 1, customers can only earn Delta
Medallion status based on their spending, similar to
a model recently adopted by American Airlines.
Many major airlines have been raising the requirements to
earn elite status amid a surge in customer spending, which
has increased the ranks of elite airline status members.
Elite status typically comes with a number
of perks, including early boarding, free
upgrades and access to an airline's airport lounge.
Elite status typically comes with a number
of perks, including early boarding, free
upgrades and access to an airline's airport lounge.
We want customers to be
able to receive status with
activity beyond just air travel, Dwight James, Delta’s senior vice president
of customer engagement and loyalty, via CNBC.
In 2024, Delta customers can earn one Medallion Qualifying
Dollar for every actual dollar they spend on flights,
car rentals and hotels booked through the airline.
CNBC reports that the airline has also raised
requirements for dollars spent through
co-branded American Express cards. .
For every $10 spent on the card, Delta SkyMiles
Reserve and Reserve Business American Express card
members will now earn one Medallion Qualifying Dollar.
For every $10 spent on the card, Delta SkyMiles
Reserve and Reserve Business American Express card
members will now earn one Medallion Qualifying Dollar.
Meanwhile, Delta SkyMiles Platinum and Platinum
Business American Express Card Members earn
one Medallion Qualifying Dollar for every $20 spent
Credit: Wibbitz Top Stories Duration: 01:31Published
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