Tuesday☕️

Mar 7, 2023 • 3 min read

Trending:

Markets:

Jerome Powell:

Fed Chair Jerome Powell will testify before Congress today and tomorrow, discussing inflation, monetary policy, and the general state of the economy.
This two-day event will help set expectations for the upcoming policy meeting later this month, where officials must decide how to respond to recent economic data.

Microsoft:

Microsoft announced its plan to acquire Activision Blizzard for $68.7 billion (in Jan. 2022), which would be the company's largest-ever acquisition.
However, the obstacle is the FTC is blocking the deal over concerns over a potential gaming monopoly.
The FTC argues that if Microsoft buys Activision Blizzard, it would break antitrust laws and harm competition in the gaming market.
In August, court proceedings between Microsoft and the FTC will determine the deal's outcome.

Business:

Meta has announced a price reduction for its Quest Pro and 256GB Quest 2, now priced at $999 and $429.
Ericsson has admitted to violating US foreign corruption laws and has agreed to pay a fine of over $206 million for engaging in bribery and falsifying records.
The construction of certain portions of Amazon's HQ2 in Arlington, Virginia, has been suspended.
In 2022, Ford secured 1,342 patents.

Statistic:

In 2010, Bitcoin was $0.008. In 2010, 125 Bitcoins cost $1.
Yesterday, Bitcoin was $22,482. 125 Bitcoins are now worth $2.81 million.
Therefore, the percentage gain of bitcoin (since 2010) is 2,810,249%.
Despite volatility, Bitcoin has been the fastest-growing asset on Earth since its creation in January 2009.

Article Link: