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Trump media company, Bitcoin trial

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NEW YORK (AP) – Regulators are asking questions about the deal to take Donald Trump’s new social media company to the stock exchange, which has drawn both legions of fans of the former president and those seeking to make a quick profit. The company in partnership with Trump Media & Technology Group acknowledged the inquiries in a filing it filed with regulators on Monday. Digital World Acquisition, which is often referred to by its trade symbol of “DWAC,” said it is cooperating with “preliminary fact-finding investigations” by the Securities and Exchange Commission and the Financial Industry Regulatory Authority.

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Bitcoin lawsuit: defendant wins $ 50 billion Bitcoin dispute

NEW YORK (AP) – Craig Wright, a computer scientist who claims to be the inventor of Bitcoin, prevailed on Monday in a civil lawsuit against the family of a deceased business partner who claimed he was owed half of a cryptocurrency fortune worth tens of billions. . A Florida jury found that Wright did not owe half of 1.1 million Bitcoins to the family of David Kleiman, Wright’s former business partner. At the center of the highly technical trial was 1.1 million Bitcoins, worth around $ 50 billion based on Monday’s prices. These were among the first Bitcoins to be created through mining and could only be owned by one person or entity involved in digital currency from its inception.

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Treasury wants more oversight of all-cash real estate transactions

WASHINGTON (AP) – The Biden administration is seeking to expand reporting requirements on real estate cash transactions to help crack down on bad actors’ use of the U.S. market to launder money from illicit activity. The Treasury Department is seeking public comment on potential regulation that would address what it says is a vulnerability in the real estate market. Currently, title insurance companies in only 12 metropolitan areas are required to file reports identifying individuals who make all-cash purchases of residential real estate through shell companies if the transaction exceeds 300,000. $. The Treasury’s Financial Crimes Enforcement Network said the move could strengthen U.S. national security and help protect the U.S. financial system.

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China tries to reassure Evergrande as default fears rise

BEIJING (AP) – China’s central bank increased the supply of money for loans on Monday as Beijing tried to reassure its public and investors that the economy can be protected if the mountain of $ 310 billion debt dips. ‘a struggling developer collapses. Evergrande Group’s struggle to turn its assets into liquidity has raised fears that a default will chill Chinese credit markets and trigger global shockwaves. Economists say the ruling Communist Party can prevent a credit crunch, but wants to avoid sending the wrong signal by bailing out Evergrande amid a campaign to force companies to reduce their debt. Beijing’s concerns are dangerously high.

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Stocks rise broadly on Wall Street, travel agencies rebound

NEW YORK (AP) – Stocks closed sharply higher on Wall Street on Monday, helped by a broad rally that includes travel-related companies that are expected to benefit from a further reopening of the economy. The S&P 500 rose 1.2%, making up for most of the ground lost last week. Tech companies and banks accounted for a significant portion of the gains. The Dow Jones Industrial Average rose 1.9%. The Nasdaq rose 0.9%. Traders were encouraged to see White House chief medical adviser Dr Anthony Fauci said early indications suggested the new omicron variant of the COVID-19 virus may be less dangerous than the delta variant.

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German factory orders post a second significant drop in 3 months

BERLIN (AP) – Official statistics show German factory orders fell sharply in October, driven by much weaker demand from countries outside the euro area. The Economy Ministry said orders were down 6.9% from the previous month, the second significant drop in three months. But he said recent developments should not be overinterpreted as the index is volatile at the moment. Orders fell 8.8% in August and rose 1.8% in September. Factory orders are an important indicator for the German economy, the largest in Europe. The latest figures come as business confidence is weighed down by persistent supply chain bottlenecks and a resurgence of coronavirus infections.

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Exxon Mobil rolls out emissions reduction plan in the Permian Basin

ALBUQUERQUE, NM (AP) – Exxon Mobil has announced that it has a plan to reduce greenhouse gas emissions at one of the most prolific oil fields in the United States. indirect emissions associated with the electricity it purchases to power its well sites and other infrastructure. Exxon’s plan focuses on the Permian Basin, which spans parts of New Mexico and Texas. In New Mexico, regulators earlier this year passed rules to reduce methane emissions, with a goal of capturing 98% of all natural gas waste by the end of 2026.

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Toyota to build $ 1.3 billion battery plant near Greensboro, NC

RALEIGH, North Carolina (AP) – Toyota has announced plans to build a $ 1.3 billion electric vehicle battery plant near Greensboro, North Carolina that will employ at least 1,750 people. The Japanese auto giant joined Governor Roy Cooper and other officials in making the announcement Monday on a Randolph County site. Toyota says the US plant will manufacture batteries for hybrid and fully electric vehicles. The factory would begin manufacturing batteries in 2025. Initially, Toyota will receive or could receive well over $ 430 million in government incentives if it meets job creation and investment targets. Toyota plans to sell up to 1.8 million vehicles in the United States by 2030 that will be at least partially electrified.

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The S&P 500 gained 53.24 points, or 1.2%, to 4,591.67. The Dow Jones Industrial Average rose 646.95 points, or 1.9%, to 35,227.03. The Nasdaq added 139.68 points, or 0.9%, to 15,225.15. The Russell 2000 Small Business Index rose 44.17 points, or 2%, to 2,203.48.