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A slap in the Facebook: Paypal exits Libra

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PayPal will exit Libra Association, the entity managing the Facebook-led effort to build global digital currency Libra . It's a huge blow to the social media company amid mounting scrutiny of its plan to build an alternative payments system. The digital payments company said on Friday it would forgo any further participation in the Libra group and would instead focus on its own core businesses. “We remain supportive of Libra’s aspirations and look forward to continued dialogue on ways to work together in the future,” PayPal said in a statement. In response, Geneva-based Libra Association said it was aware of the challenges lying ahead in its attempts to “reconfigure” the financial system. “The type of change that will reconfigure the financial system to be tilted towards people, not the institutions serving them, will be hard. Commitment to that mission is more important to us than anything else. We’re better off knowing about this lack of commitme...
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Strike against GM enters 8th day

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The battle goes on. The United Auto Workers (UAW) strike against General Motors (GM) enters its second week, as Monday marks the eighth day since 49,000 auto workers have been off the job. The two sides are at a stalemate over new contract negotiations. Workers are pushing for a larger slice of profit from GM after their four-year contract with the company expired last week. UAW spokesman Brian Rothenberg told The Associated Press that the two sides are “still talking.” The high-profile strike has political leaders from both sides of the aisle weighing in, with President Trump pressuring GM to get a deal with the union completed. Several leading 2020 Democratic candidates , including Sen. Elizabeth Warren (Mass.) and former Vice President Joe Biden, have sided with striking workers. “GM is demonstrating that it has no loyalty to workers in America .... Their only loyalty is to their bottom line, and if they can sav...
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Saudi stock market dips after drone attack

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Entirely expected: Saudi Arabia’s stock market fell by 2.3% at Sunday’s open as the country grappled with weekend drone attacks on the heart of its oil production facilities in Abqaiq and Khurais claimed by Yemen’s Houthi rebels. Reports that the country may take weeks to return to full oil supply capacity is set to send crude futures up by as much as $10 per barrel, analysts say, depending on the scale of the damage. Half the country’s oil production was halted due to fire damage and an assessment of the situation is due on Monday, Saudi energy ministry officials said. They have not yet offered a timeline on full production restoration. “A small $2-$3 premium would emerge if the damage appears to be an issue that can be resolved quickly, and $10 if the damage to Aramco’s facilities is significant leasing to prolonged supply outages,” Ayham Kamel, practice head for the Middle East and North Africa at Eurasia group, said in a research note Sunday. That’s up to 25 cents higher ...
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Nicole Junkermann business mentor

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Nicole Junkermann is a London-based investor,  entrepreneur  and business mentor .  Her investment career began in the sports sector.  In 1998, she co-founded  Winamax,  a football gaming portal. From 2002 to 2011, she was a strategic investor and Vice-Chairman of the sports and media company,  Infront . In 2007, she founded  United in Sports , the world’s first private equity fund focusing on  sports .  From sports to experimental technology Since 2011, however, she has returned to her roots in digital innovation and  experimental technology  – areas like robotics, genomics, virtual reality and artificial intelligence – and media rights, generally.  Her principal investment vehicle is today  NJF Capital Ltd , which currently has over 30 companies in its portfolio. In addition, she has interests in  real estate and private equity . Nicole Junkermann business mentor Nicole Junkermann is a long...
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