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On June 7th, it was learned from the Hainan Provincial Housing Provident Fund Management Bureau that, in order to standardize the management of individual housing provident fund accounts and improve data quality, the bureau will conduct a cleanup of "one person, multiple accounts" among contributors. According to reports, during a special investigation, the bureau discovered that some contributors had "one person, multiple accounts" (multiple accounts under different names using the same ID number). According to the "Housing Provident Fund Management Regulations," each employee can only have one housing provident fund account. The bureau has issued a notice reminding relevant contributing units and contributors to proactively verify their account details from June 6th to June 20th.On June 7th, Jin Lei, Secretary of the Shenzhen Municipal Committee of the CPC, recently visited DJI Innovations Technology Co., Ltd., Mindray Bio-Medical Electronics Co., Ltd., and UBTECH Robotics Corp., Ltd. He engaged in in-depth exchanges with company leaders, gaining a detailed understanding of their production, operations, and innovative development. He also solicited opinions and suggestions on further improving service support and optimizing the innovation environment and industrial ecosystem. Jin Lei stated that Shenzhen is a city with a strong innovation atmosphere and vibrant innovation vitality. A number of innovative enterprises are thriving, and innovative products are constantly emerging, becoming a valuable asset and source of vitality for the city. He sincerely thanked them for their significant contributions to Shenzhens economic and social development. Currently, a new round of technological revolution and industrial transformation is accelerating, bringing new opportunities for the innovative development of both the city and enterprises. Shenzhen is accelerating its efforts to build a globally influential industrial and technological innovation center. He hoped that everyone would focus on innovation breakthroughs, continuously enhance their core competitiveness, explore broader domestic and international markets, and achieve better and greater development. We will always work together with everyone in the same direction, achieving mutual success and creating new and greater miracles.① Iran 1. Today (June 7th) marks the 100th day since the outbreak of the Iran-Israel war. Disagreements remain between Iran and the US regarding negotiations, and mutual trust persists. 2. Iran claims to have attacked another key facility of the US Fifth Fleet. 3. A military advisor to Irans Supreme Leader warned the US of potential "heavy losses." 4. Iranian delegation: Attacks on nuclear facilities should not be normalized. ② US 1. US Central Command: Intercepted missiles and drones launched by Iran. 2. US Central Command: There are currently no reports of US personnel injured, and Irans claim that it damaged the US Fifth Fleet headquarters in Bahrain is untrue. ③ Israel 1. The Israeli military says it is investigating an attack on Lebanese government forces vehicles. 2. The Israeli military claims to have struck approximately 150 Hezbollah targets in southern Lebanon. 3. The Israeli military says two soldiers died while on a mission in southern Lebanon. 4. According to Israels Channel 12, the number of Israeli soldiers killed since the ceasefire in Lebanon has risen to 16. 5. Israeli airstrikes in multiple locations in Gaza resulted in numerous deaths and injuries. ④ Strait of Hormuz 1. Rosneft CEO Igor Sechin: Blocking the Strait of Hormuz is an attempt to change the rules of the global energy market to benefit the United States. 2. The Iranian Revolutionary Guard issued a statement saying that if the United States "foolish" actions continue, the United States will have to bear responsibility for the consequences of a complete closure of the Strait of Hormuz and the obstruction of oil and gas exports. 3. The Iranian Revolutionary Guard stated that it has fired on four oil tankers attempting to cross the Strait of Hormuz without its permission. 4. According to the New York Times: A US official said that in the past month, the US military has assisted in coordinating the passage of more than 100 merchant ships through the Strait of Hormuz to and from the Persian Gulf. ⑤ Ceasefire Negotiations 1. Pakistans Interior Minister visited Iran on Saturday with new proposals aimed at breaking the US-Iran deadlock and reaching a temporary agreement. 2. Iranian Deputy Foreign Minister: Any agreement reached with the United States must include provisions for the release of half of the frozen Iranian assets. 3. Saudi media: Sources say Iran has requested three months of negotiations on the details of its nuclear documents. Trump informed mediators that he would not engage in negotiations for more than 60 days and demanded a swift response from Iran. 4. The Iranian Foreign Ministry issued a statement regarding the continued US violation of the ceasefire. ⑥ Other situations: 1. The US Department of Defense raised its counterintelligence alert level against Israel. 2. Bahrain condemned Irans missile attacks on its territory and Kuwait. 3. The Kuwaiti military stated that the Iranian attacks caused material damage but no casualties. 4. The Lebanese president accused Iran of using the country as a bargaining chip; Iranian Foreign Minister Araghchi retorted: "If Lebanon were Irans bargaining chip, we would have reached an agreement long ago." 5. Rosneft CEO Sechin warned that if the Strait of Hormuz were closed, other global shipping lanes such as the Bab el-Mandeb Strait and the Strait of Gibraltar could also face disruption. 6. The Iranian ambassador to Mexico stated that World Cup teams would enter and leave the US on match days. 7. The US may use Iranian assets to compensate its Gulf allies; US Treasury Secretary Bessenter has instructed his team to "assess the relevant situation in Gulf allies and calculate the cost of repairing damage caused by Iran." 8. The Iraqi Prime Minister revealed that he plans to pay an official visit to the United States soon.Alaska Airlines chief financial officer stated that the company expects to remain an Airbus operator for the long term.Alaska Airlines chief financial officer stated that refining margins on the West Coast are a more pressing issue than crude oil prices.

Crypto Prices Slump Over the Weekend

Skylar Shaw

May 09, 2022 09:59

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The Bitcoin market dropped over the weekend, matching the stock market's decline.


According to CoinDesk pricing, the world's biggest cryptocurrency, bitcoin, plummeted to $34,656 on Sunday afternoon, down 3.9 percent from Friday evening. Bitcoin fell below $34,000 earlier this afternoon, about half of its all-time high of $67,802 set in November.


Ethereum, the second-largest cryptocurrency, was trading at about $2,565 on Sunday afternoon, down 5.1 percent from Friday at 5 p.m. EDT.


Bitcoin and other cryptocurrencies are notorious for their wild price volatility


For years, individual investors dominated the market, but institutional investors, such as hedge funds and money managers, have begun to take control.


The market has become more aligned with regular markets as more professional investors trade crypto. Many institutional investors that acquire cryptocurrencies see them as high-risk investments, akin to equities in the technology sector. During periods of market turmoil, investors prefer to flee to safer areas.


Last week, the stock market fell the day after the Federal Reserve issued a half-point rate hike, the largest since 2000, to combat inflation. Additional rate hikes are possible this summer, according to Fed Chairman Jerome Powell. 


Some of the central bank's $9 trillion asset portfolio is also being unwound.


The Nasdaq Composite, which is heavily weighted in technology, fell to a 52-week low of 12144.66 on Friday. It is down 22% so far this year.


For most of 2022, cryptocurrency prices remained flat as investors braced for higher interest rates. According to CoinMarketCap, the crypto market was busy over the weekend, with $112 billion in market volume in a 24-hour period. The total value of the cryptocurrency market is currently $1.59 trillion.