- Magic Leap
1. A top official for a US financial regulator is urging players in the burgeoning cryptocurrency sector to boost their self-policing. Brian Quintenz, a Republican commissioner with the Commodity Futures Trading Commission, said the industry should consider adopting self-regulatory standards while the government mulls its best approach in policing the new technology-driven space.
2. Russia’s En+ Group has invited international banks to pitch for the sale of $1 billion (£720 million) of shares in the company that manages the aluminum and hydropower businesses of Russian businessmen Oleg Deripaska, Reuters reported.Deripaska and family members own 76.6% of En+, which has assets in metals and energy.
3. Fossil’s shares soared 79% on Wednesday as short sellers rushed to cover their positions. The watchmaker posted a better-than-expected increase in sales in the fourth quarter of 2017.
4. Apple is in talks to buy storage chips from Yangtze Memory Technologies, a move that would mark the iPhone maker’s first buy from a Chinese memory chipmaker. Apple will use these chips in new iPhone models and other products for sale in the Chinese domestic market specifically, the Nikkei reported.
5. Opel, the German carmaker now owned by France’s PSA Group , said a new version of its Corsa city car would be built exclusively in Zaragoza, Spain, from 2019.This includes a fully electric version that will start rolling off the production line in 2020.
6. General Electric said that its chief communications officer and senior adviser, Deirdre Latour, would be leaving the company in mid-March to pursue other opportunities. Linda Boff, GE’s chief merchandising officer, will take on the added responsibilities as interim head of communications, until a replacement is found.
7. Ghana reported an outbreak of the dangerous H9N2 bird flu virus on a farm in the southwest of the country, the Paris-based World Organisation for Animal Health said.The virus infected and killed 4,225 poultry birds out of a flock of 16,822.
8. Jamie Dimon’s pleased with the economic progress the US has made in recent months. But there’s still more to do. Business Insider caught up with the JPMorgan Chase CEO in the South Bronx on Tuesday, where the bank was announcing the expansion of its Entrepreneurs of Color Fund.
9. A group of academics and technology experts will soon launch a blockchain-powered network that will reward quality research with its own cryptocurrency called Mosaic. Mosaic, the decentralized network, aims to provide research by the first quarter of this year to an industry struggling with misinformation and lack of quality analysis, said Garrick Hileman, the project’s co-founder.
10. Cryptocurrency investors launched a lawsuit against Coincheck, seeking to force the Tokyo-based exchange to allow them to withdraw assets worth $183,000. The money has been frozen after last month’s $530 million heist of digital money.