Best Business and Crypto Stories of the Week: December 24

[ad_1]

Many brands are starting to see a recovery despite the challenges initially posed by the pandemic. Some companies, especially those that have focused their efforts on expanding e-commerce businesses, have even seen their profits increase even more than before.

HYPEBEAST has put together the best trading and crypto stories of the week so you can stay on top of trends across industries.

Company 1. The owners of Selfridges sold the company

The legendary London store has now been acquired by Thai retail group Central Group and Austrian real estate company Signa Holding. The joint deal is valued at around £ 4 billion (around US $ 5.36 billion).

Latest news | The billionaire dynasty behind Selfridges & Co. sold the UK department store operator to a consortium led by Thai conglomerate Central Group. https://t.co/AOLJ8G9t8L

– The fashion business (@BoF) December 23, 2021

2. Chanel has raised the prices of some of its classic handbags

A spokeswoman for Chanel told Bloomberg that the price increases are due to “unspecified fluctuations in exchange rates, changes in production costs and to ensure her handbags cost roughly the same price. in the world”. Some believe that Chanel is increasing the price of her bags to appear more exclusive.

3. Elon Musk says he will pay over $ 11 billion in taxes this year

Musk previously asked his nearly 63 million followers whether or not he should sell 10% of his Tesla stake to pay taxes, with a majority voting in favor of the move. CNBC’s Robert Frank suggests his tax bill “is the biggest in history.”

For those wondering, I’ll pay over $ 11 billion in taxes this year

– Elon Musk (@elonmusk) December 20, 2021

4. Nike released its financial results for the second quarter of fiscal 2022, noting slow growth

Second quarter reported revenue was US $ 11.4 billion, up 1% from the previous year. The company noted that while some of its numbers were up, the company was affected by “continued inventory constraints and supply chain challenges.”

5. Major US service providers blocked over 50 billion fraudulent calls in 2021

T-Mobile screened 21 billion suspicious calls with its Scam Shield system, averaging 1.8 billion calls each month. AT&T and Verizon also recorded massive numbers.

Crypto 1. RadioShack renamed itself as DeFi Marketplace

The century-old franchise recently outlined its plans, announcing the launch of a RADIO token as part of RadioShack DeFi. The company is confident that it will be able to bridge the gap with the older generations and bring blockchain technology closer to mass adoption.

Are you ready? https://t.co/gXXKXc1UT2#RadioShack #Blockchain #Cryptocurrency pic.twitter.com/rXT3HvGli1

– RadioShack (@RadioShack) December 19, 2021

2. Instagram Manager Adam Moserri Says Site “Actively Explores” NFTs

“Nothing to announce at this time, but we are definitely actively exploring NFTs and how we can make them more accessible to a wider audience,” he said. “I think it’s an interesting place where we can play… and also a way, hopefully, to help the creators.”

? Adam Mosseri (@mosseri), CEO of @instagram, said they are actively investigating the #NFT trend.

?‍?‍?‍? He said they were thinking about how they could make NFTs accessible to a wider audience and that this was an interesting area to get involved in. #instagram #NFT pic.twitter.com/ISFttj9cRz

– NFT Library (@LibraryNft) December 18, 2021

3. More than 50 countries have banned cryptocurrency

Since 2018, “the number of countries that have issued cryptocurrency bans has increased significantly,” according to a Law Library of Congress report. In November 2021, nine countries imposed an “absolute ban” on crypto, which means it is completely illegal.

4. FTX is now the official crypto partner of the Washington Wizards and other sports teams

The FTX cryptocurrency exchange has partnered with Monumental Sports and Entertainment to become the official cryptocurrency exchange and the NFT partner for its properties. The Washington Wizards of the NBA, the Washington Mystics of the WNBA and the Washington Capitals of the NHL are part of the deal.

Looking forward to an incredible partnership, alongside one of the leaders in sport and entertainment!

? Fans of Caps? Wizards fans? Mystics fans? Capital City Go-Go fans

? Washington, DC https://t.co/uuxhRHVlG5

– FTX – Built by Traders, For Traders (@FTX_Official) December 20, 2021

5. Sony employee allegedly stole US $ 154 million and converted it to Bitcoin

According to a press release from the Department of Justice, an employee of Sony Life Insurance Company Ltd. in Tokyo allegedly embezzled US $ 154 million in company money into its bank account before quickly converting it to 3,879.16 Bitcoins. The funds have since been recovered.

[ad_2]