Industry
Financial Sector Led Rally in Wall Street as Global Stocks Peaked to Highest Level
Wall Streel indexes continued to stay in positive territory as financial sector was catching up. Global stock market responded and climbing to the highest level in 2016.
U.S. Securities and Commodities Agencies Demanded a Boost in Budget, Cited Growing Fintech Markets
The U.S. securities and commodities regulatory agencies pushed the congress to increase their budget. They argued that more fund is needed to do their functions in the growing financial markets and technology in recent years.
Medical Marijuana Passes Pennsylvania Bill, Ohio Might Be Next
Medical marijuana will be legalized after Gov. Wolf signs the bill on Sunday after the 149-46 vote in favor of marijuana legalization. However, it will take about two years before sufferers of acute ailment can get advantage of the benefits because of the several processes including regulatory and growing process.
Alibaba Gets $1 Billion Stake Investment In Lazada
Alibaba is about to acquire Singaporean start-up Lazada for about $1 billion that was established by the German technology Rocket Internet. Existing shareholders including Tesco, AB Kinnevik and Rocket Internet will sell a portion of their shares to Alibaba.