3 Senate Democrats draft plan to end federal ban on marijuana

BY JACK TURMAN

Three top Senate Democrats have a draft plan to end the federal ban on cannabis and implement a series of programs to help communities that have been harmed by the war on drugs, which have disproportionately tended to be communities of color.  

Senators Chuck Schumer, the majority leader, Ron Wyden of Oregon and Cory Booker of New Jersey announced the reforms early Wednesday. The reforms come as the public has increasingly supported marijuana legalization over the past few years. 

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Virgin Galactic, Didi, Lionheart Acquisition: What to Watch When the Stock Market Opens Today

By James Willhite

Earnings season is set to kick off this week, starting with big banks, and investors will be watching to see if they can deliver on high expectations. Here’s what we’re watching ahead of Monday’s open.

Futures tied to the S&P 500 were flat after the broad-market index reached a record high on Friday. Futures linked to the Nasdaq-100 ticked up 0.5%, suggesting further gains in technology stocks after the Nasdaq Composite ended last week at a record. Dow Jones Industrial Average futures slipped 0.3%. Read our full market wrap.

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Mining industry seeks policy changes

By bworldonline

THE MINING INDUSTRY is pushing for key policy changes that will boost the sector’s growth and help the economy recover faster from the coronavirus disease 2019 (COVID-19) pandemic.

Eulalio B. Austin, Jr., Philex Mining Corp. president and chief executive officer, said the government should harmonize all national laws and local government units’ (LGU) ordinances on mining.

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Bitcoin Swings as China Regulators Punish Company Over Crypto

By Joanna Ossinger

Bitcoin fluctuated Tuesday after China’s central bank and a regulator in the capital city took action against a company that was allegedly providing cryptocurrency-related services.

The largest cryptocurrency had risen as much as 3.7% to $35,094 before dropping back after the People’s Bank of China and Beijing’s local financial regulator ordered a company in the city to cancel its business registration. As of 7:55 a.m. in New York it was trading 1% higher at $34,194.

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Telstra ramps up 5G in regional Australia despite Covid conspiracy theories and protests

By Josh Taylor

Covid-19 conspiracy theories and protests did not prevent Telstra from ramping up its 5G network construction over the past year, with 75% of the population now able to access the new technology.

In the past year, despite lockdowns and restrictions, Telstra was able to keep up construction of its new 5G network. The telecommunications company now has 5G in more than 200 cities and towns, and at least 50% coverage in more than 2,700 suburbs.

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German cannabis company raises EUR 35 million

By Sandy Bhadare

German medical cannabis company Sanity Group has completed the biggest ever European Series A funding round for cannabis-based products.

Magic Circle law firm Clifford Chance acted for Sanity Group on the financing round which raised approximately EUR 35 million.

Sanity plans to use the capital raised to grow its medical arm in Europe and its consumer goods division, and for research and development. This will include the establishment of a facility dedicated to cannabis extract research and production which is compliant with European Union good manufacturing practice. The facility will be located nearby to Frankfurt.

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Bitcoin Enters Wait-and-See Phase Ahead of Fed Statement

By Omkar Godbole

Bitcoin is holding in a tight range as investors’ focus turns to the U.S. Federal Reserve’s monetary policy statement on Wednesday, which could offer clues on the central bank’s course of action and inject volatility into financial markets.

The cryptocurrency has been trading in a narrow range of $39,400 to $41,300 since Monday’s European trading hours, CoinDesk 20 data show.

“The market is completely neutral ahead of the Fed with only a little spot buying,” Brian Tehako, chief investment officer at Warwick Capital Management, said. “Traders are waiting for the Fed announcement.”

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Ma’aden awards $880m gold mining contract

By arabnews.com

RIYADH: The Saudi Arabian Mining Company (Ma’aden) has awarded a new $880 million contract at its Mansourah-Massarah gold mines, marking the company’s largest-ever investment in the gold sector.

The agreement was signed for Jac Rijk Al-Rushaid Contracting and Services Company to provide operational mining services at the gold mines. The range of services will include drilling, scaling, loading, hauling, re-handling, ore control, dewatering, crusher feed, and all related production activities at the mines.

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