Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Good day,
The transition to electric vehicles is good for the planet, but not so good for labor. That's the thesis of a recent article in Wired warning that electric vehicle manufacturing will lead to more layoffs. The author cites a study by Germany's Fraunhofer Institute for Industrial Engineering IAO showing that by 2030, a moderate shift to electric vehicles could leave 75,000 Germans out of work. The upshot: Expect more pushback from labor like the General Motors Company (NYSE:GM)- UAW strike, where retooling a closed plant as an electric truck facility was part of GM's offer to the union. Other industry trends are reducing the need for workers, Wired acknowledges, as auto manufacturing becomes more efficient overall. "EVs are just another step," says Kelley Blue Book analyst Karl Brauer, quoted in the Wired story.
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Did you know?
New Orleans-based Dip Shipping is the first company to be charged and to plead guilty in the U.S. Justice Department's ongoing investigation into the forwarding industry. The local freight forwarder has agreed to plead guilty to an antitrust violation charge for its role in a price-fixing scheme and pay a $488,250 criminal fine.
Quotable
"They have an app my cat could have written."
–Oracle founder and executive chairman Larry Ellison, on why he doesn't see the investment case for Uber. (Barrons)
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In other news
Walmart likely discriminated against female workers in stores
A report finds Walmart has been discriminating against more than 150 female employees in its stores. (CNBC)
New York City's transit authority has a $54B plan for subway
Highlights of the plan include modern subway signals and elevators in 70 stations. (NYTimes)
Truck driver arrested after border patrol agents discover 31 people hidden in trailer
The driver was arrested for human trafficking. (IdahoStatesman)
Half-scooter, half bike product heading to market
Electric bike startup Karmic is launching its new vehicle, called the Oslo. (FastCompany)
Final thoughts,
Amazon.com, Inc. (NASDAQ:AMZN) made waves yesterday with its ambitious pledge to go carbon neutral by 2040. That was good but not good enough for Amazon Employees for Climate Justice (AECJ), a group of more than 1,500 employees that wants the e-giant to sign on to even bigger environmental commitments. "Amazon's newly-announced ‘Climate Pledge' is a huge win," the group said in a statement, "but…as long as Amazon uses its power to help oil and gas companies discover and extract more fossil fuel, donates to climate-denying politicians and think tanks, and enables the oppression of climate refugees, employees will keep raising our voices." AECJ members, the statement said, are participating in a Global Climate Change strike on September 20.
Hammer down, everyone!
Image sourced from Google
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.