The SEC is planning to adopt a new rule mandating that foreign companies – mostly Chinese firms – open their books to US scrutiny, or risk being kicked off the New York Stock Exchange and Nasdaq within three years.
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According to a report from CoinDesk, Goldman Sachs, and a handful of other tier-one US banks, are figuring out how to use bitcoin as collateral for cash loans to institutions.
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Despite the White House stating that consumer spending has recovered, a look at the past three days shows just the opposite picture: spending was flat on thanksgiving compared to last year, down on Black Friday (as was everything else to be fair), and – according to Adobe’s digital economy index – was also down for the first time ever on Cyber Monday.
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The good news: Black Friday retail traffic was up 47.5% over last year. The bad news: It was still 28.3% lower vs. 2019 levels, according to CNBC, citing preliminary data from Sensormatic Solutions.
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What looked like a win for workers earlier in the year, as wages increased, has turned out to be another blow after accounting for inflation. Real wages are negative on the year, and that is impacting how consumers spend this holiday season.
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