Tag: wsj
86% of Stablecoin Issuer Tether Was Controlled By 4 People As of 2018: WSJ
Tether began from separate companies led by ex-plastic surgeon Giancarlo Devasini and former child actor Brock Pierce. Devasini, who helped develop crypto exchange Bitfinex and is now its chief financial officer, owned about 43% of Tether in 2018, according to the documents seen by the Journal. Two other executives of both Bitfinex and Tether, CEO Jean-Louis van Der Velde and Chief Counsel Stuart Hoegner, each owned roughly 15% of Tether in 2018, the documents revealed. The fourth major owner as of 2018 was a businessman with British and Thai citizenship known as Christopher Harborne in the U.K. and Chakrit Sakunkrit in Thailand. He controlled about 13% of Tether. Together, the four men owned approximately 86% of Tether through their own holdings and another related company.
Read more of this story at Slashdot.
Abbott under DOJ criminal probe over behavior at Michigan baby formula plant – WSJ
ConocoPhillips in talks to sell Venezuelan oil in U.S. to recover $10B owed – WSJ
Apple Card Offering Free One-Year WSJ Subscription as Sign-Up Bonus
Customers must subscribe to The Wall Street Journal Digital within 60 days of the Apple Card account being opened in order to qualify for the $55 Daily Cash, which will be reflected on their Apple Cash balance after the transaction has posted to the account. The subscription plan automatically renews for $38.99 per month after the first year’s promotional price until cancelled, so make sure to set a reminder to cancel if necessary.
Launched in 2019, the Apple Card remains available in the U.S. only. Apple’s credit card can be managed completely through the Wallet app on the iPhone, with a physical version available for use at stores that do not accept contactless payments. The card has no fees beyond interest and offers up to 3% cashback in the form of Daily Cash.
This article, “Apple Card Offering Free One-Year WSJ Subscription as Sign-Up Bonus” first appeared on MacRumors.com
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WSJ: Europe, US Need Grand Bargain on Chips and EVs to Counter China
The EU’s executive arm complains that newly-passed U.S. subsidies constitute “a market-distorting boost, tilting the global level playing field and turning a common global objective — fighting climate change — into a zero-sum game.”
There’s a grand bargain to be had here: the U.S. makes its allies eligible for its EV subsidies and those allies join its semiconductor controls. The politics and details of any such bargain are, of course, difficult, maybe insurmountable. Yet such an accommodation, if it happened, would entail almost no economic cost to the U.S. or its allies — and potentially large long-term gains….
The U.S. Treasury Department could use its administrative discretion to phase in the Inflation Reduction Act’s provisions or define content to allow more of these manufacturers’ products to qualify. It could also interpret “free-trade agreement” to include not just formal bilateral treaties but broader pacts such as the WTO Government Procurement Agreement or the Minerals Security Partnership, both of which include Japan, South Korea, and the European Union but not mainland China or Russia.
If the U.S. bends to its allies on electric vehicles, its allies should bend to the U.S. on semiconductors…. Meanwhile, business as usual entails its own — potentially significant — costs. China’s long-term goal is self sufficiency in all advanced technology, including semiconductors. It does business with Western companies until its own national champions can displace them first in China and then abroad. It has already followed the script in high-speed rail, power generation and telecommunications equipment. If China has its way, the market share that South Korean, Japanese and European semiconductor companies are trying to preserve will be gone a few decades from now.
Read more of this story at Slashdot.
Diesel hits record premium over gasoline, crude oil – WSJ
Facebook parent Meta planning major layoffs this week – WSJ
Jony Ive Featured on WSJ. Magazine Cover, Talks Work at Apple and Design Philosophy
The interview spans topics including Ive’s youth, first meeting with Steve Jobs and work at Apple, and recent work at his design company LoveFrom. Reflecting on his beginnings at Apple, Ive said:
“I wanted to be a part of this crazy California company,” Ive says now. Corporation is a word he reviles. “A group of people who are truly united in a shared sense of purpose” is what he prefers, and that’s initially what he hoped to find at Apple. Instead, soon after he joined, the company began to drift. The Newton tablet he designed in 1992 was praised by critics but largely ignored by consumers. Apple started to atrophy into an acquisition target. “The most important lessons you would never choose to learn because they are so painful,” Ive says. “The death of a company is so ugly.”
Ive on meeting Steve Jobs upon his return to Apple in 1997:
Ive, then 30, assumed Jobs would hire a more renowned designer to replace him, but something unexpected happened at their first meeting. “I clicked with Steve in a way that I had never before done with someone and never have since.”
On his purpose, Ive remarked:
“I love making things that are profoundly useful,” he adds. “I’m a very practical craftsperson.”
He also discussed the importance of language and creativity, the downside of disruption, and curiosity:
“Success is the enemy of curiosity,” “I am terrified and disgusted when people are absolutely without curiosity,” he says. “It’s at the root of so much social dysfunction and conflict…. Part of why I get so furious when people dismiss creativity is that [when] it’s an activity practiced in its most noble and collaborative form, it means a bunch of people who come together in an empathic and selfless way. What I have come to realize is that the process of creating with large groups of people is really hard and is also unbelievably powerful.”
Ive will be featured in November’s “Innovators Issue,” out on newsstands on Saturday, November 12. Ive is one of eight covers representing each of this year’s award recipients. See the full interview on The Wall Street Journal‘s website.
This article, “Jony Ive Featured on WSJ. Magazine Cover, Talks Work at Apple and Design Philosophy” first appeared on MacRumors.com
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