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Bitcoin fell to seven weeks

Bitcoin fell to its lowest level in seven weeks on Monday morning and nearly fell to $47000.

Bitcoin fell to seven weeks

The world’s largest cryptocurrency fell to $47079 in early Asian trading before rebounding. Bitcoin was at $51973.80 as of 9:59 a.m. Beijing time, according to coinbase.

Later last week, bitcoin fell below its 100 day moving average for the first time since early October, after JPMorgan (150.19, 2.82, 1.91%) warned of possible risks to its upward momentum.

Bitcoin hit a record $64870 on April 14, driven by the frenzy triggered by the listing of coinbase, and has been volatile ever since. Last weekend, the collapse of two Turkey’s encrypted currency exchanges could also lead to sentiment in the debate over whether bubbles exist in encrypted currencies.

Although Tesla (729.4, 9.71, 1.35%) CEO musk mentioned cryptocurrency again on twitter (67.02, 2.71, 4.21%) on Saturday, the momentum over the weekend was still sluggish. Musk tweeted: “what should the future hold( What does the future hodl?), Many netizens responded to “dogcoin” and “bitcoin” in the comment area( Note: hodl is the slang of bitcoin community, which refers to the long-term possession of some cryptocurrency.)

Nevertheless, bitcoin’s performance in the medium term is still good, and it has maintained a growth rate of about 70% so far this year. This is due to the recognition of well-known investors and the launch of cryptocurrency products by Goldman Sachs (339.35,8.50,2.57%) and Bank of New York Mellon (47.6,1.05,2.26%). Morgan John, John Normand, reiterated in a report last Friday that bitcoin rose faster than any other financial innovation or bubble in the past 50 years.

Xiaomi considers participating in AI chip

Xiaomi (14.7, 0.00, 0.00%) is one of the investors considering participating in a round of at least 1.5 billion yuan (about $231million) of black sesame Intelligent Technology Co., Ltd., according to people familiar with the matter.

Xiaomi considers participating in AI chip

The financing valued the Shanghai based AI and autopilot chip manufacturer at a maximum of $1.5 billion, with one person familiar with the financing saying that the investors in the last round of black sesame financing included Tencent holdings.

According to people familiar with the matter, black sesame is considering listing on the science and technology board as early as next year. They say the company plans to raise at least one round of financing before any possible IPO.

The details of the scale and valuation of the round of financing may change, the people familiar with the matter said, while the discussion on IPO is still in an early stage, and black sesame may eventually decide not to seek listing.

Softbank’s net profit in fy2020

According to people familiar with the matter, soft bank (46.75, 2.02, 4.52%) group’s net profit in 2020 as of the end of March was around 4.5 trillion yen, which set a record high for Japanese enterprises, and benefited from the huge profits from the listing of multiple investment targets of Softbank vision fund.

Softbank's net profit in fy2020

Previously, Japanese companies had a record high of 2.4939 trillion yen in fy2017 (as of march2018). In the previous fy19, Softbank group had a record loss of y96.5 billion, and its performance is recovering significantly.


What drives the performance of Softbank group is the vision fund business. The fund has never invested in the IPO phase for IT companies with global potential. If the invested enterprise achieves growth and valuation increase, the added part will be included in the earnings of soft bank group’s financial report.


In fy2020, Softbank’s investment target companies have launched IPO successively. Coupang, the South Korean e-commerce giant, which was listed in March, has recently reached $73.1 billion. These enterprises brought hundreds of trillion yen book income to Softbank group, which greatly boosted the earnings on the financial statements.


Softbank group will officially release its fy2020 performance on May 12.

India’s richest man: 57 million

India’s richest man, Mukesh Ambani’s Reliance Industries Group, said in a regulatory filing on Thursday that it had acquired London Hotel and golf course operator stoke Park Ltd. for 57 million pounds (79 million US dollars).


Reliance said the acquisition would increase its consumption and hotel assets.

Ambani, also Asia’s richest man, is trying to shift his oil dependent business to consumer products. In recent years, he has acquired Hamleys, the UK’s iconic toy store. His Telecom subsidiary, jio, has rapidly become the operator with the most users in India since it began providing services in 2016. Facebook (296.52, – 4.95, – 1.64%), Google (2267.92, – 25.37, – 1.11%) and some private equity and sovereign wealth funds have invested more than $25 billion in his enterprises to bet on their success.

Daimler raises profit margin forecast for Mercedes Benz

German auto giant Daimler (21.94, – 0.24, – 1.08%) on Friday raised its operating return forecast for its high-end brand Mercedes Benz this year as surging demand from China boosted the recovery after the new crown pandemic.

The company said it now expects Mercedes Benz’s operating rate of return this year to reach 10-12%, higher than its previous target of 8-10%.

Harald Wilhelm, Daimler’s chief financial officer, said: “after this promising start, we are very confident that we can maintain the pace of growth, improve profit margins in a sustainable way and expand the electric vehicle product line.” The company also said plans to break up the truck division were “well under way.”.

Daimler said on Friday that its adjusted earnings before interest and tax (EBIT) rose to 5 billion euros in the first quarter from 719 million euros in the same period last year, far better than market expectations.

“The strong sales momentum of Mercedes Benz, driven by all major regions, especially China, strongly supported the product mix and pricing in the first quarter of 2021,” the company said at the time.

The first hydrogen powered passenger train in Europe

The first hydrogen powered passenger train made by Alstom will be unveiled in Germany in March next year and build a foothold in Europe.

The first hydrogen powered passenger train in Europe

Carmen Schwabl, managing director of German railway operator lnvg, said commercial operation of the train will start in March next year after a long trial run on a 123 km track in Lower Saxony, Germany. The 14 coradia ilint passenger trains produced by Alstom will run on the branch line between Buxtehude outside Hamburg and Cuxhaven, a coastal town.

For five years, Alstom has been promoting fuel cell trains as an alternative to carbon emission diesel engines. In addition to the German project, the world’s second-largest railway equipment supplier won an order for a hydrogen electric double power train from French National Railway earlier this month, as well as other contracts in Germany and Italy.

Its competitor Siemens (85.01, – 0.24, – 0.28%) is also developing hydrogen powered trains. As emission regulations become more stringent, the European market is expected to grow to tens of billions of dollars in the next few years.

Ant group will buy Brazilian loyalty

Ant group has clinched a deal to buy a 5% stake in Dotz, a Brazilian loyalty points platform.

Ant group will buy Brazilian loyalty

Dotz and ant group also signed a business cooperation agreement, including exploring new opportunities for digital financial services in Brazil.


Dotz has just launched an initial public offering of about R $815 million (US $146.35 million) and plans to start trading on the Sao Paulo Stock Exchange on May 13.


Dotz’s per share pricing ranges from R 16.2 to R 21.4. If the IPO price is at the top of the range, Dotz’s valuation could be as high as R $3 billion.


Dotz said the deal would depend on the completion of the IPO.


Under the terms of the deal, ant will appoint a senior executive to the Dotz board and co head the company’s strategy committee.


Within 24 months of Dotz’s IPO, ant group also has the option to buy an additional 10% stake in the company.


Dotz was founded nearly 20 years ago and has 20 million active users. In addition to having a loyalty platform, Dotz is also a market and financial start-up.

Tokyo auto show cancelled due to epidemic

Akio Toyoda, President of the Japan Association of automobile manufacturers and President of Toyota Motor (155.14, 1.04, 0.67%), said on Thursday that he had decided to cancel this year’s Tokyo auto show.

Tokyo auto show cancelled due to epidemic

Toyoda told reporters at a news conference that it is difficult to hold a biennial auto show in Tokyo to ensure the safety of participants during the epidemic.


The last Tokyo Motor Show was held in 2019.

Jeep plant in Detroit due to lack of core

Stellantis, the world’s fourth largest auto company, which is formed by the merger of Fiat Chrysler (15.23, 0.00, 0.00%) and Peugeot Citroen, announced that it plans to lay off temporary staff at a jeep factory in Detroit this month and next month due to global chip shortage.

Jeep plant in Detroit due to lack of core

The company said it would lay off employees on two shifts for three weeks from April 26, then recall them, and lay off employees on the third shift for two weeks from May 17 to May 31. The plant usually operates in three shifts, 20 hours a day, six days a week.


The jnap plant, with about 4800 hourly workers, makes last year’s best-selling Jeep Grand Cherokee and dodge Durango SUVs.

Take it from the dog and use it for the dog

On Saturday, an anonymous female donor paid for the adoption of all dogs at a shelter in Daytona Beach, Florida.

Take it from the dog and use it for the dog

The donor, pseudonymous dog community, claimed to have made a lot of money investing in dog money and used part of it to pay for the adoption of dogs currently being adopted from the Halifax human society.


The shelter shared some photos of the dogs on Sunday, saying that “as a generous donor, the dog community has paid for all the dogs in the shelter that have yet to be adopted. Special thanks to the dog community for its kindness and generosity. ”


A director of the association explained that the donor “made a very smart investment in some cryptocurrency and made a windfall, saying it changed her life and that she wanted to do something good.”


He said the donation came at the right time because the Halifax humane society had just received 42 dogs from a suspected dogfighting field, and the shelter had not enough space to receive more animals.


The association also made it clear that dogs taken to its shelter after Saturday will still be charged for adoption.