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| April 21, 2018

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China Fends Off Trade Trouble With 6.8% Growth

April 17, 2018 |

The first quarter’s faster-than-expected surge was fueled by robust sales at home and abroad and increased industrial production. It bucked expectations that a slowdown would take hold amid a government debt cleanup that’s crimping investment in property, infrastructure and factories.
WSJ.com: What’s News Asia

U.S. job growth slows sharply; unemployment rate stays at 4.1%

April 8, 2018 |

Job growth slowed sharply in March from the pace of recent months as employers in most sectors took a breather in hiring.

Wage gains went up only slightly last month even though businesses are finding it increasingly harder to attract qualified workers and more people are leaving their jobs voluntarily.


L.A. Times – Business

Fed increases key interest rate and signals faster pace of rate hikes next year amid stronger economic growth

March 22, 2018 |

Federal Reserve officials see a stronger U.S. economy and signaled Wednesday that would mean a slightly faster pace of interest rate hikes in coming years.

For the moment, they’re sticking with plans for three small hikes in their benchmark interest rate this year while adding one more hike in…


L.A. Times – Business

Warren pushes new Fed chief to be tough on lifting Wells Fargo growth cap

March 1, 2018 |

Sen. Elizabeth Warren on Thursday pushed the new head of the Federal Reserve to be tough on lifting a cap it placed on the growth of Wells Fargo & Co. last month in response to the bank’s unauthorized accounts scandal and other questionable practices.

The sanction “sent a powerful message to big…


L.A. Times – Business

Powell says Fed will try to balance growth and the potential for ‘an overheated economy’

February 27, 2018 |

New Federal Reserve Chairman Jerome H. Powell said Tuesday that the central bank will try to balance economic growth with the potential for “an overheated economy” now that “fiscal policy is becoming more stimulative” with tax cuts and increased federal spending.

In his first extensive public comments…


L.A. Times – Business

Airbnb Adds Hotels and Luxury Listings to Bolster Growth

February 23, 2018 |

Airbnb Inc., looking to solidify sales ahead of an expected IPO, is adding more hotels to its site, along with a loyalty program and new tiers of listings that include luxury and more budget-friendly offerings.
WSJ.com: US Business

Islamic Republic of Iran to “Control and Prevent” Growth of Cryptocurrencies

February 22, 2018 |

Islamic Republic of Iran to “Control and Prevent” Growth of Cryptocurrencies

جمهوری اسلامی ایران‎ The Islamic Republic of Iran has apparently changed course on cryptocurrency, or perhaps it has clarified its real position previously mischaracterized by the press. It’s increasingly difficult to get a real handle on the official status of crypto in the Persian homeland.  

Also read: How To Regain Control From Nanny Zuck

Iran to Control and Prevent Cryptocurrency

Hamed Jafari reported as soon as two weeks ago, Iran was considering issuing “a local cryptocurrency, a cryptocurrency consortium with specific countries and regulating the already established cryptocurrencies such as bitcoin.” Not more than last week, International Business Times insisted “a half dozen contenders” in Iran were vying to bring the country its first set of initial coin offerings (ICOs).

Indeed, Iran under the weight of international sanctions seems to be a perfect breeding ground for cryptocurrency. Paypal, Mastercard, Visa are all forbidden. Its fiat currency continues to fall against the dollar to all-time lows even as its regime struggled recently to reform interest rates and forgive loans. Crypto might be a way around pretty brutal financial conditions. Reports last year seemed to suggest the country was considering as much.

Islamic Republic of Iran to “Control and Prevent” Growth of Cryptocurrencies
Mohammad-Javad Azari Jahromi

Iran Front Page, however, an independent news aggregation site, is throwing cold water on region some by insisting the Iranian central bank never recognized bitcoin as legal tender. The banker also said it had no intention of “actively facilitating Bitcoin transactions.”

Local Crypto?

Indeed the bank is reported to have explained how “wild fluctuations of the digital currencies along with competitive business activities underway via network marketing and pyramid scheme [tactics] have made the market of these currencies highly unreliable and risky.” Additionally, Iran’s central bank is said to be looking at a way to “control and prevent digital currencies in Iran.”

This doesn’t necessarily mean ICOs can’t take place, and there is plenty of anecdotal evidence Iranians are interested in cryptocurrency even if their government is not. Enthusiasts’ hopes were not entirely dashed as reports also explained the country’s technology minister confirmed rumors about a local cryptocurrency, state backed. Islamic Republic of Iran to “Control and Prevent” Growth of CryptocurrenciesAfter further warning about the “high risks of making investment in” cryptos such as bitcoin, saying Iranians might lose “their financial assets” as a result, “Iran’s [Ministry of Information and Communications Technology (ICT)] Minister Mohammad-Javad Azari Jahromi also declared on Wednesday that Iran’s Post Bank is working on a locally-developed cryptocurrency, which needs to be tested by the ICT ministry.”

What do you think about Iran’s plans? Are they viable? Let us know in the comments section.


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The post Islamic Republic of Iran to “Control and Prevent” Growth of Cryptocurrencies appeared first on Bitcoin News.

Bitcoin News

Nestlé Sales Growth Weakens to Slowest in Decades

February 15, 2018 |

Sluggish U.S. demand limited Nestlé’s sales growth to its slowest pace in decades last year, underscoring the challenge facing the consumer goods giant as it tries to reposition itself as a nimble provider of healthy food and drinks.
WSJ.com: US Business

Digital media is driving job growth in L.A region, report finds

February 9, 2018 |

The rise of digital media is powering job growth in the entertainment industry throughout Los Angeles and Orange counties, according to a new report.

The digital media industry accounted for 206,880 jobs in the two counties in 2016, a 12% increase since 2006, according to the report by a coalition…


L.A. Times – Business

China’s January auto sales growth rebounds to 10.7 percent

February 9, 2018 |

China’s auto sales growth in January rebounded from the previous month’s contraction, boosted by strong demand for SUVs.
FOX News