Huawei should get a limited 5G role – the US trade deal can wait

By Nils Pratley

Should Chinese firm Huawei’s kit be banned from the UK’s 5G network? As with HS2, Boris Johnson is guaranteed to end up infuriating one side of the argument. The stakes, though, are substantially higher here, whatever the prime minister says about his hopes for compromise. One route could lead to trade conflict with the US. The other could pile costs on to the UK’s 5G network, with a knock-on impact on UK competitiveness.

Those extra technology costs are almost the only element in this quarrel that is not disputed. Even non-techie outsiders can understand how the expense would arise. The 5G technology is intended to build on the existing 4G infrastructure, where Huawei’s gadgetry is used in UK masts and antennas. An outright ban would amount to a time-consuming “rip and repair” job, say the companies. One way or another, consumers and businesses would pay the bill.

The same issue does not arise in the US because its networks are largely built with equipment from the only other big firms left in the market – Nokia and Ericsson. Blocking Huawei would narrow choice further, at least until Samsung or somebody else fills the gap in the market.

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Health scares historically ‘buying opportunities’ for stocks, says JPMorgan

By SUNNY OH

Even as fears about the spread of the coronavirus have sent global stocks tumbling, one of Wall Street’s biggest banks is urging investors to stay the course.

Analysts at JPMorgan have yet to budge from their positive view on global equities, in part because they say similar health scares historically have failed to derail even local stock markets, which can be the most vulnerable to the economic consequences of a virus pandemic. Instead, a team led by Mislav Matejka underscored that past outbreaks served as “buying opportunities, rather than the reasons for sustained selling,” in a Monday client note.

Even though the coronavirus remains in its early stages and “is likely to worsen before getting better,” JPMorgan analysts stressed that prior global health scares failed to unsettle equities for an extended period.

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Mining mica: can the industry overturn its legacy of exploitation?

By Heidi Vella

Eight-year-old Frederic works morning or afternoon shifts, depending on his school schedule, sorting mica alongside his elder brother. His hands are marked by traces, wounds and scars caused by the repetitive task of removing the calcite.

Thirteen-year-old Felicia, who has never attended school, works Monday to Sunday for a sorting company. The money she earns helps support her mother and eight siblings, but is having a negative impact on her health.

These are just two stories of child labour in the illegal mica mining sector of Madagascar detailed by a new report by NGOs Terre des Hommes and SOMO.

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Bitcoin Is a ‘Super Commodity’ That Should Be Worth $1-10 Million, Says Kraken Executive Dan Held

By BITCOIN

In a new blog post published on Medium, Kraken’s director of business development, Dan Held, lays out a thesis for Bitcoin as a “super commodity”.

The crypto exchange exec debunks the notion that Bitcoin’s use of energy is “wasteful” and argues that the cryptocurrency’s energy intensive proof-of-work (PoW) mechanism, which relies on cheap electricity to power its network of transactions, is part of a global cycle that has linked everything to energy and the consumption of energy.

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Tech Giants’ New Appeal to Governments: Please Regulate Us

By Sebastian Herrera

Top executives of big technology companies are presenting global policy makers with an unusual message from an industry once antagonistic to government intervention: Regulate us.

Facing antitrust investigations and a growing backlash over privacy, encryption, artificial intelligence and content monitoring, leaders at tech giants including Alphabet Inc., Microsoft Corp., Facebook Inc. and Apple Inc. are now calling for new laws on a range of issues—even though some have worked to torpedo others designed to restrict their activities.

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Senate President Stivers says he sees ‘a narrow path’ forward for medical marijuana in Kentucky

By Melissa Patrick, Kentucky Health News

FRANKFORT, Ky. — The most important legislative opponent of legalizing medical marijuana in Kentucky said Friday that there is a “narrow path forward” for it. Senate President Robert Stivers said that the day after a medical-cannabis bill was filed in his chamber.

Senate Bill 107 has bipartisan sponsorship from 11 of the Senate’s 38 members. It is a companion bill to House Bill 136, with 44 co-sponsors, including House Speaker David Osborne.

The House bill’s prime sponsor, Rep. Jason Nemes, R-Louisville, told Tom Latek of Kentucky Today that most House Republicans support it and he is optimistic it will pass this year.

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5G and blockchain: technologies that will mark the next decade in banking

By TECHNOLOGY

Today, any user can carry out multiple financial transactions over the Internet: from opening an account, to investing in stock, to paying bills or making a transfer. In fact, the number of users who use online banking services in Spain has not stopped growing, according to Statista. While in 2008 only 18% of clients made use of this type of banking, that figure rose to 49% in 2018. In the case of BBVA, more than half of its customers worldwide already use banking services on their mobile devices.

Ignacio Boixo, member of the Consejo General de Colegios Profesionales de Ingeniería Informática (General Council of Professional Engineering and Computing Schools), highlights that savings and investment models are becoming increasingly diversified. “Banks have begun to offer a whole range of fintech services supported by secure communication models that have been deployed in a wide range of areas, such as payments, financial statements, portfolio management, or algorithmic trading,” he says. While the number of services offered is predicted to increase even further in the coming years, different technologies are expected to mark the future of the banking sector.

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Dow Rallies Aggressively After WHO Calms Stock Market’s Virus Panic

By Francois Aure

  • The Dow Jones rallied off its lows as the World Health Organization calmed fears about the Wuhan coronavirus in China.
  • It was still a tough day for the Dow, which declined amid risk-off trading conditions.
  • Further weighing on the stock market, Trump appears committed to starting a trade war with the European Union.

It was another weak day for the Dow Jones, though the index rallied off its lows after the World Health Organization (WHO) calmed fears about a global coronavirus pandemic.

But with the death toll rising in Wuhan and the virus spreading, the stock market kept its eyes locked on China and ignored Stephen Mnuchin’s efforts to sell “tax cuts 2.0.”

Dow Jones Dips As Trump Pushes More Trade Wars & China Locks Down Cities

The three major U.S. stock market indices were all quiet on Thursday afternoon after recovering from steep morning losses.

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Increased shipping costs hit Metro Mining profit margin

By Matthew Farmer

Bauxite mining company Metro Mining has published its quarterly activities report, showing increased shipping costs led to a fall in profit margins.

Profit margin per wet metric tonne (wmt) fell by 36% in Q4 due to an increase in site and freight costs. The company put the increase in site costs down to depleted stockpiles.

Metro Mining says in its report that shipping costs were higher due to a strengthening ocean freight market. The report reads: “There was increased demand and vessels started transitioning towards the use of higher cost, low sulphur fuel as part of new regulations.”

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‘Elon Musk says Bitcoin is good for illegal payments — and that’s about it’

By Satoshi Nakaboto

Our robot colleague Satoshi Nakaboto writes about Bitcoin $BTC▲1.68% every fucking day.

Welcome to another edition of Bitcoin Today, where I, Satoshi Nakaboto, tell you what’s been going on with Bitcoin in the past 24 hours. As Schopenhauer used to say: Prepare to open the imaginary money chest…

Bitcoin price

We closed the day, January 23 2020, at a price of $8,406. That’s a notable 3.15 percent decline in 24 hours, or -$274.12. It was the lowest closing price in nine days.

We’re still 58 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin’s market cap ended the day at $152,813,329,633. It now commands 67 percent of the total crypto market.

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