What we’re reading (4/6)
“The Global Economy Will Grow 6% this Year as Vaccines Pave The Way For A Full Recovery, IMF Says” (Business Insider). “The IMF lifted its estimate for global gross domestic product growth this year to 6% from 5.5%, according to its latest economic outlook report. The improvement was largely tied to expectations for economic reopening and mass vaccination.”
“U.S. Auto Industry Calls For Government Help As It Warns Of Impact Of Chip Shortage” (Reuters). “A U.S. auto industry group on Monday urged the government to help as it warned the global semiconductor shortage could result in 1.28 million fewer vehicles built this year and disrupt production for another six months.”
“Bitcoin ETF Coming ‘In A Year Or Two,’ Analyst Says As SEC Mulls Applications” (CNBC). “The Securities and Exchange Commission formally acknowledged a bitcoin ETF proposal from VanEck just two weeks ago, starting the countdown on its 45-day approval timeline. But seeing a bitcoin ETF approved in the next 30 days isn’t that likely, according to Todd Rosenbluth, head of ETF and mutual fund research at CFRA Research. It’s more likely that the SEC will extend its timeline, he told CNBC’s ‘ETF Edge’ on Monday.”
“Coinbase Independent Directors Have Close Company Tie” (Wall Street Journal). “Fred Ehrsam’s ties to Coinbase Global Inc. run deep: He co-founded the multibillion-dollar bitcoin exchange, was its president until 2017, owns millions of its shares and was part-owner of a company it bought last year. Under Coinbase’s plan to tap the public markets, however, the San Francisco-based company classifies Mr. Ehrsam as an independent director, securities filings show. The same goes for Fred Wilson, another Coinbase director who owns a significant stake of the company.”
“How Brexit Ruined Easter For Britain’s Chocolate Makers” (New York Times). “For the second year in a row, Easter will be a largely online affair, with socially distanced egg hunts and virtual church services. But there will be one notable difference here in Britain. Domestic chocolate makers, who should be celebrating one of their busiest times of year, are fuming instead, and all of them cite the same cause: Brexit.”
