Author: natixis-ezine

San Francisco launches driverless bus service following robotaxi expansion

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Read time : 3 mins

Level : Intermediate

A driverless shuttle stops for a passenger on San Francisco’s Treasure Island as part of a pilot program to assess the safety and effectiveness of autonomous vehicles for public transit on Aug. 16, 2023. The free bus service was launched less than a week after California regulators approved the controversial expansion of robotaxis on city streets. (AP Photo/Terry Chea)

By TERRY CHEA Associated Press

SAN FRANCISCO (AP) — First came the robotaxis. Then the driverless buses arrived.

San Francisco has launched an autonomous shuttle service — less than a week after California regulators approved the expansion of robotaxis despite traffic and safety concerns.

The free shuttle will run daily in a fixed route called the Loop around Treasure Island, the site of a former U.S. Navy base in the middle of San Francisco Bay. The Loop makes seven stops, connecting residential neighborhoods with stores and community centers. About 2,000 people live on the island.

The all-electric vehicle, which doesn’t have a driver’s seat or steering wheel, is staffed with an attendant who can drive the bus with a handheld controller if necessary. The county is offering the shuttle service as part of a grant-funded pilot program to assess how autonomous vehicles can supplement the public transit system. Continue reading

Emerging economies are pushing to end the dollar’s dominance. But what’s the alternative?

natixis-ezine

Read time : 3 mins

Level : Advanced

A man display U.S. $100 bills alongside Nigerian currency at the craft and art market in Lagos, Nigeria, on Wednesday, Aug. 16, 2023. Across the developing world, many countries are fed up with America’s dominance of the global financial system — and especially the power of the dollar. (AP Photo/Sunday Alamba)

By CHINEDU ASADU, GERALD IMRAY, FARAI MUTSAKA and PAUL WISEMAN Associated Press

ABUJA, Nigeria (AP) — Business has vanished at Kingsley Odafe’s clothing shop in Nigeria’s capital, forcing him to lay off three employees.

One culprit for his troubles stands out: The U.S. dollar’s strength against the Nigerian currency, the naira, has pushed the price of garments and other foreign goods beyond the reach of local consumers. A bag of imported clothes costs three times what it did two years ago. The price these days is running around 350,000 naira, or $450.

“There are no sales anymore because people have to eat first before thinking of buying clothes,” Odafe said.

Across the developing world, many countries are fed up with America’s dominance of the global financial system — especially the power of the dollar. They will air their grievances next week as the BRICS bloc of Brazil, Russia, India, China and South Africa meet with other emerging market countries in Johannesburg, South Africa.

But griping about King Dollar is easier than actually deposing the de facto world currency. Continue reading

Move Over, Monopoly! Here Are America’s Most Popular Board Games

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Read time : 3 mins

Level : Intermediate

By Jake Valentine | Wealth of Geeks

Nearly 5,000 new board games were released in 2022 alone. The hobby has exploded in popularity over the years. Despite the emergence of new games, a timeless classic remains America’s most popular board game: Chess.

A recent study reveals the top 20 board games in the United States. The list is filled with classics like Monopoly, Clue, and Sorry! But Chess tops them all.

“Chess is a cultural touchstone, with terms such as checkmate being a staple of the English language,” said a spokesperson for World of Card Games, who performed the study. “It has been studied for centuries, and skill at the game is considered shorthand for a person’s intelligence. It has even seen a new wave of popularity in recent years as more people learn of its intricacies. It is fitting, then, that Chess is America’s most popular board game.

“It will be interesting to see if chess continues to grow in popularity in the coming years and how that might impact how people play the game online and offline, both professionally and at the amateur level.” Continue reading

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

natixis-ezine

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