Month: August 2023

Crypto’s Big Break? Potential Bitcoin ETF Approval Could Create New Era of Investment Opportunities

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Read time : 3 mins

Level : Advanced

By Creshonda Smith | Wealth of Geeks undefined

The first US bitcoin exchange-traded fund (ETF), “BITO,” began trading in October of 2021, attracting more than $1 billion in assets in the first few days. It’s one of the most heavily traded ETFs in market history.

Cryptocurrencies have been making waves in the financial world. ETFs have long appealed to investors for their diversification benefits, low costs, and stock-like trading convenience.

The possible introduction of a Bitcoin ETF holds significant implications for the market. It increases accessibility, enabling investors to gain exposure to Bitcoin without the complexities of directly holding the cryptocurrency. This milestone could attract traditional investors who value the regulatory oversight offered by ETF structures. Continue reading

Airbnb profit jumps to $650 million in 2Q, as bookings increase and rental rates hold steady

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Read time : 3 mins

Level : Intermediate

FILE – The login page for Airbnb’s iPhone app is seen in front of a computer displaying Airbnb’s website on May 8, 2021, in Washington. Airbnb reports earnings on Thursday, Aug. 3, 2023. (AP Photo/Patrick Semansky, File)

By DAVID KOENIG AP Business Writer

Airbnb said Thursday its second-quarter profit jumped more than 70% over last summer, to $650 million, as revenue rose on strong bookings for summer-vacation rentals.

The San Francisco company said bookings grew 11% over the same period last year. Still, they were a bit lighter than analysts expected.

The shares fell about 1% after three hours of late trading.

Airbnb has been battling complaints that high cleaning fees have pushed prices closer to, or even above, hotels for short rentals. It changed its site to display cleaning fees upfront, when consumers are price-shopping.

Prices, however, remain stubbornly high. Airbnb had forecast that average rates customers pay per night would fall slightly in the second quarter compared with last year. Instead, the average nightly rate rose 1% to $166. Continue reading

High Wedding Costs Are Changing Millennials’ and Gen Z’s Minds About Marriage

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Read time : 3 mins

Level : Advanced

By Jessica Bishop | Wealth of Geeks undefined

Wedding bells may be ringing less frequently as 73% of young adults find it too expensive to get married in the current economy. A new study highlights shifting attitudes towards marriage from Millennials and Gen Z, with 2 in 5 viewing it as an outdated tradition. These changing perspectives and rising wedding costs have prompted many to rethink their approach to marriage.

Survey Shows a Shift in Marital Mindset

Recent statistics from the U.S. Census Bureau in 2022 revealed that more than 1 in 3 (34%) individuals aged 15 years or older had never been married, marking a significant increase from approximately 1 in 4 (23%) in 1950.

This shift prompted the Thriving Center of Psychology to investigate why fewer individuals are walking down the aisle. They surveyed Millennials and Gen Zers who are currently in a relationship but unmarried. The findings shed light on their perspectives and insight into the factors influencing their choices. Continue reading

Europe’s economy grows a bit after months of stagnation. But rate hikes are weighing on businesses

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Read time : 5 mins

Level : Intermediate

FILE – Gas prices are displayed at a gas station in Frankfurt, Germany, on July 28, 2023. The European economy grew modestly in the most recent quarter, breaking out of a months of stagnation or contraction as higher interest rates designed to fight inflation make it more expensive for households and businesses to borrow, invest and spend. (AP Photo/Michael Probst, File)

By DAVID McHUGH AP Business Writer

FRANKFURT, Germany (AP) — Europe’s economy has grown modestly after months of stagnation, but higher interest rates designed to fight inflation are casting a shadow as they make it more expensive for households and businesses to borrow, invest and spend.

The 20 countries that use the euro currency and their 346 million people saw 0.3% growth in the April-to-June period, compared with the first three months of the year, the EU statistics agency Eurostat reported Monday.

That’s an improvement over zero growth in the first quarter and a slight decline in fourth quarter of last year — but not by much. Plus, one-time factors and an outsized bump from Ireland made things look better than they really were.

The eurozone got a boost by 0.5% growth in France and 0.4% in Spain, where lower inflation has helped lift consumer spending power.

Yet the French figure was increased by the delivery of one very large manufactured item — a cruise ship. That statistical quirk flattered French growth but does little to disguise weak demand for goods in the eurozone’s second-largest economy. Continue reading

Solar panels on water canals seem like a no-brainer. So why aren’t they widespread?

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Read time : 3 mins

Level : Advanced

This artist’s rendering provided by Solar AquaGrid, shows a wide-span solar canal canopy being piloted in California’s Central Valley. Solar AquaGrid and partners are preparing to break ground in the fall of 2023 on the first solar-covered-canal project in the United States. Solar panels are installed over canals in sunny, water-scarce regions where they make electricity and reduce evaporation. (Solar AquaGrid via AP)

By BRITTANY PETERSON and SIBI ARASU Associated Press

Back in 2015, California’s dry earth was crunching under a fourth year of drought. Then-Governor Jerry Brown ordered an unprecedented 25% reduction in home water use. Farmers, who use the most water, volunteered too to avoid deeper, mandatory cuts.

Brown also set a goal for the state to get half its energy from renewable sources, with climate change bearing down.

Yet when Jordan Harris and Robin Raj went knocking on doors with an idea that addresses both water loss and climate pollution — installing solar panels over irrigation canals — they couldn’t get anyone to commit.

Fast forward eight years. With devastating heat, record-breaking wildfire, looming crisis on the Colorado River, a growing commitment to fighting climate change, and a little bit of movement-building, their company Solar AquaGrid and partners are preparing to break ground on the first solar-covered canal project in the United States.

“All of these coming together at this moment,” Harris said. “Is there a more pressing issue that we could apply our time to?”

The idea is simple: install solar panels over canals in sunny, water-scarce regions where they reduce evaporation and make electricity. Continue reading