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China/US tech cold War on the brink of escalation.

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China’s economic battle with the US might be intensifying after the Chinese government passed another corporation bill into law, which spells that any massive change in the activities of Chinese owned organization would need authorization from the Chinese government.

This authorization process which would last for as long as 30 days is widely seen as a poison pill for the sale of TikTok. Meanwhile, The Donald Trump administration has given the Chinese owned videosharing app 90 days to be sold unless it would face sanctions in the United states.

Political analysts are saying the TikTok saga is just the first of many organizations that would be caught in the cross fire of retaliatory attacks between both countries.

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The GameStop vs Wallstreet saga explained.

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The GameStop vs Wallstreet saga explained.

GameStop was the current week’s another thing. All the more explicitly: the unrealistic and breathtaking convention of its stock cost — which, as of this composition, was generally $336 an offer. How it arrived is not really an account of incredible procedure or rousing individual exertion. Indeed, nothing major has changed in the course of the most recent year about GameStop, a Grapevine, Texas-settled computer game retailer with shops settled in shopping centers cross country.

Truth be told, GameStop has battled throughout the most recent year, as the pandemic has eased back actual business and, in the course of recent years, rivalry from downloadable game substance has pushed its productivity down and constrained it to recoil its actual impression. This carried GameStop to the consideration of two gatherings that wound up being critical to the stock value’s gigantic development throughout the most recent week. The main gathering included short-venders who all contributed intensely that GameStop’s offer cost would keep on falling. The second was a Reddit contributing subgroup, r/WallStreetBets.

The GameStop stock had been getting some certain input on the Reddit site for quite a while. Yet, beginning in January of 2021, that eagerness started blending with an abhorrence for the huge institutional speculators, for example, mutual funds, which were intensely short on GameStop.

Toward the beginning of January, r/WallStreetBets individuals started purchasing up GameStop stock, which thusly pushed up the cost. It rose from around $17 an offer toward the beginning of January to north of $330 today (Jan. 29). It was, as one r/WallStreetBets told Wired: “an image stock that truly exploded.”

Exploded being the usable idea, as the blaze set off wild protests by those institutional speculators whose short positions were gravely uncovered by the attack of retail financial specialists, who appeared to be sufficiently happy to uncover them. Robinhood, the day-exchanging application for retail merchants where a significant part of the GameStop purchasing occurred, is currently being sued by its clients for its choice to stop exchanging GameStop and other abruptly unstable image stocks. That get ignited the interest of officials. Also, the totally eccentric circumstance has set off a whirlwind of think pieces posing the normal arrangement of unanswerable inquiries:

Is this a triumph for retail financial specialists or the start of the end? Is this a David-and-Goliath tale about Redditors versus speculative stock investments? Is this the first crowdfunded short crush throughout the entire existence of the market? Is this actually a siphon and-dump plot gone ideal time? Will this obliterate the financial exchange as far as we might be concerned?

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Fin-Tech

CashApp updates feature.

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Users of cashapp can now get Bitcoins back after completing a transaction. Months ago, cashapp only allowed users to receive dollars back after their transactions but with the increase in the usage of Bitcoins on the app, and Square’s bitcoin holdings increasing, it had decided to add this new feature.

This move is part of the broader market plan to stay in competition with PayPal who has also incorporated cryptocurrencies into their portfolio.

The move is also possibly a way for Cash App to stay ahead of competitor PayPal, which has also recently entered the cryptocurrency arena. Other firms have made similar moves, with crypto lending firm BlockFi partnering with Visa to roll out a new bitcoin-backed credit card in 2021, CoinDesk reported.

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Fin-Tech

Quickteller to work with Smile.

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One of Nigeria’s most used payment gateway Quickteller have now announced that they will be working in conjunction with Smile, a LTE networking service to enable faster transactions across Quickteller designated Paypoints in the country.

This collaboration should help both brands who seek to increase the client base and deliver flawless services to customers. Smile will provide fast and quality networking services that will enable Quickteller deliver an optimal service in every Paypoint.

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