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On March 27, the 23rd meeting of the Standing Committee of the 16th Beijing Municipal Peoples Congress passed the "Regulations on the Management of Unmanned Aerial Vehicles in Beijing," which will take effect on May 1, 2026. The regulations clarify that the entire administrative area of Beijing is designated as controlled airspace for unmanned aerial vehicles, and all outdoor flight activities require application. The regulations standardize the production, sale, and transportation of unmanned aerial vehicles. They explicitly prohibit the illegal production, assembly, splicing, or modification of unmanned aerial vehicles or the hacking of their systems; prohibit the sale or rental of unmanned aerial vehicles and their core components to units or individuals within the administrative area of Beijing; and prohibit the transportation or carrying of unmanned aerial vehicles and their core components into the administrative area of Beijing, except for existing unmanned aerial vehicles that have completed real-name registration and information verification, and are carried by their owners.March 27th - A recent survey of retail investors by the American Association of Individual Investors (AAII) shows a slight easing of pessimism regarding stock price performance over the next six months, with 49.8% of respondents holding a pessimistic view, down from 52.0% last week (the highest percentage since May). However, pessimism remains "exceptionally high" and has been above the historical average (31.0%) for the seventh consecutive week. Optimism about rising stock prices over the next six months rose to 32.1% from 30.4% last week (the lowest level since September of last year), remaining below the historical average of 37.5% for the sixth consecutive week. In a special question asking for opinions on the Federal Reserves decision to keep interest rates unchanged last week, nearly two-thirds of respondents (66.5%) said it was the right move, only one-seventh (14.2%) thought the Fed should have lowered rates, while 13.7% thought it should have been raised, and the remainder were unsure or had no opinion.On March 27th, at the Tencent Cloud Shanghai City Summit, Tencent Cloud and the Putuo District Peoples Government of Shanghai officially signed a strategic cooperation framework agreement. Both parties will deepen cooperation in areas such as cloud computing, artificial intelligence, and big data, focusing on Putuo Districts "1+2+3"-based modern industrial system and digital transformation goals, jointly promoting the construction of regional industrial clusters and the high-quality development of the digital economy.March 27th - In 2025, my countrys digital consumption reached 25.3 trillion yuan, a year-on-year increase of 8.7%, with digital service consumption growing by 12.5%, becoming the main engine driving digital consumption growth. E-commerce boosted offline consumption, with offline digital consumption growing by 13.8%. Going forward, the Ministry of Commerce will continue to deepen inter-departmental collaboration, focusing on optimizing supply, expanding scenarios, improving support, and standardizing the environment to promote the quality, expansion, and efficiency of digital consumption, better serving the construction of a new development pattern and contributing to high-quality development.UK retail sales fell 0.4% month-on-month in February, compared with expectations of a 0.70% decline and a revised 2% increase in the previous month (up from 1.80%).

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.