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December 19th - Following the conclusion of an investigation by Italian regulators into alleged unfair business practices, several automakers will begin displaying clearer and more comprehensive information about electric vehicle performance on their websites. Earlier this year, the Italian Competition Authority launched an investigation into companies such as Stellartis (STLA.N), Tesla (TSLA.O), and Volkswagen to review the information these companies provided to consumers regarding electric vehicle range, battery capacity degradation, and standard battery warranty limitations. The regulator noted that the range information displayed on these automakers websites was vague and sometimes contradictory, failing to clearly explain which factors influence the advertised maximum range and the extent to which these factors affect actual range. These websites also failed to provide consumers with clear and complete information about battery capacity degradation due to normal vehicle use and the terms and limitations of standard battery warranties.French Prime Minister: Parliament will be unable to vote on the French budget before the end of this year. Starting Monday, I will meet with key political leaders to discuss the next steps.ECB Governing Council member Rehn: The outlook for economic growth and inflation remains highly uncertain due to the nascent trade war and geopolitical tensions.December 19th - Japanese Economy and Fiscal Policy Minister Minoru Jonouchi stated on Friday that he respects the Bank of Japans decision to raise interest rates to 0.75%, but it is necessary to closely monitor the economic outlook. He said, "In formulating economic and fiscal policies, we believe it is necessary to pay close attention to several factors, such as the impact of US trade policy, the impact of continued price increases on private consumption, and volatility in financial and capital markets." Jonouchi emphasized the importance of continuing to implement appropriate monetary policy to achieve strong economic growth and stable inflation.Polish Prime Minister: We expect to receive more EU agricultural funding in the next budget.

Bitcoin falls below $19,000 as cryptos creak under rate hike risk

Skylar Shaw

Sep 20, 2022 14:27

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On Monday, cryptocurrency prices hit new lows as a result of regulatory worries and a general investor reluctance to engage in risky assets due to impending interest rate increases.


By market value, Bitcoin, the most valuable cryptocurrency, dropped almost 5% to a three-month low of $18,387.


The second-largest cryptocurrency, ethereum, lost 3% to a two-month low of $1,285 and had lost more than 10% in the previous day. The majority of the smaller tokens had larger losses.


Over the weekend, a significant update to the Ethereum blockchain—which supports the ether token—called the Merge changed how transactions are handled and reduced energy consumption.


The value of the token has decreased amid rumors that comments made last week by Gary Gensler, chairman of the U.S. Securities and Exchange Commission, suggested the new structure would draw further regulation. The upgrades' surrounding trades were likewise unwound.


The regulatory outlook is guesswork, according to Matthew Dibb, COO of Singapore's Stack Funds cryptocurrency platform.


Since the Merge, the markets have shed a lot of their excitement, he said. Given the uneasy global background, he said, "It's truly been a sell-the-news sort of event," and predicted that ether will test $950 in the near future.


"From a basic and technological standpoint, the current situation does not appear promising. There isn't a clear quick positive trigger that will support these markets and inject a ton of fresh cash and liquidity, in our opinion.

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