For example, Procter & Gamble's (NYSE: PG) second - quarter results were a complete miss, in large part because
of currency issues.
Terfloth also has a keen understanding
of the currency issues surrounding the import and export markets, relying on his experience as a money market trader to advise clients, he says.
Not exact matches
And while most emerging market debt continues to be
issued in local
currencies, the IIF said that foreign
currency denominated debt
issued in these nations swelled by $ 800 billion last year to a record high
of $ 8.3 trillion.
Indeed, this
issue of crypto -
currency prices is likely what underlies the decision by Coinbase and some other exchanges not to support the Bitcoin Cash fork.
«The main
issue with Bitcoin itself is that the community around it right now is kind
of too polarized,» Karpelès says, citing the split between Bitcoin and Bitcoin Cash over a disagreement in how best to scale the digital
currency.
Farmers in Tanzania can do all the Google searches they like right now, he says, but buying Google ads to sell their crops is a challenge because
of currency translation
issues.
«Available information indicates that, once
issued, the Petro digital
currency would appear to be an extension
of credit to the Venezuelan government,» the Treasury department said in a statement to Reuters.
Chi Lo
of BNP Paribas says the Chinese yuan could see some swings linked to trade
issues, but such movements would point to a more market - based approach to the
currency.
The much - hyped startup fundraising technique
of issuing digital
currency comes with significant risk
of being scammed, Bloomberg reports.
The story that bitcoin victims are being sold is that, because we can not trust government -
issued currencies, bitcoin is the future
of money.
In Sweden, where use
of cash is vanishing, the central bank is investigating
issuing its own digital
currency, the E-krona, out
of concern that widespread use
of other virtual
currencies controlled by private actors could harm competitiveness.
But in an interesting twist, a developer who was hired by Reddit to work on the idea
of a «crypto -
currency» — a form
of Bitcoin that users could receive in exchange for contributing content, or as a way
of distributing some
of the shares that were
issued in the site's fundraising round — said in a post on Medium that he was working on a plan to de-centralize Reddit in just this way before he was let go.
There are two sources
of demand for tokens: From people who need them to redeem services from the company who
issued them, and from other investors who think the token will rise in price like a stock or a
currency.
Such risks, uncertainties and other factors include, without limitation: (1) the effect
of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign
currency exchange rates, levels
of end market demand in construction and in both the commercial and defense segments
of the aerospace industry, levels
of air travel, financial condition
of commercial airlines, the impact
of weather conditions and natural disasters and the financial condition
of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization
of the anticipated benefits
of advanced technologies and new products and services; (3) the scope, nature, impact or timing
of acquisition and divestiture or restructuring activity, including the pending acquisition
of Rockwell Collins, including among other things integration
of acquired businesses into United Technologies» existing businesses and realization
of synergies and opportunities for growth and innovation; (4) future timing and levels
of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability
of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope
of future repurchases
of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level
of other investing activities and uses
of cash, including in connection with the proposed acquisition
of Rockwell; (7) delays and disruption in delivery
of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits
of organizational changes; (11) the anticipated benefits
of diversification and balance
of operations across product lines, regions and industries; (12) the outcome
of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact
of the negotiation
of collective bargaining agreements and labor disputes; (15) the effect
of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect
of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and
currency exchange rates in the near term and beyond; (16) the effect
of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act
of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability
of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition
of conditions that could adversely affect the combined company or the expected benefits
of the merger) and to satisfy the other conditions to the closing
of the pending acquisition on a timely basis or at all; (18) the occurrence
of events that may give rise to a right
of one or both
of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee
of $ 695 million to United Technologies or $ 50 million
of expense reimbursement; (19) negative effects
of the announcement or the completion
of the merger on the market price
of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation
of their businesses while the merger agreement is in effect; (21) risks relating to the value
of the United Technologies» shares to be
issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability
of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
With crypto mania sweeping the world, a handful
of countries have stirred at the possibility
of issuing their own virtual
currencies based on blockchain, the technology behind Bitcoin.
People's Bank
of China Deputy Governor Fan Yifei wrote an article broaching the possibility
of a digital
currency it would
issue with Chinese commercial institutions.
Any time now, the Securities and Exchange Commission will
issue a decision that could throw open the door to a flood
of new capital, and change how many investors regard the digital
currency.
Boockvar said that if China were to take such a daring step, it could ruin its chances
of being accepted into the International Monetary Fund's basket
of special drawing rights
currencies — IMF -
issued reserve assets — in October 2016.
Finally, the
issue of currency manipulation is one that Trump could likely court international support to address.
The vote has raised a number
of issues for companies, including what sort
of currency would be used.
To reduce Russian interference to buying political ads with rubles is to skate over the complexity
of this
issue: how do you know what is a political ad, for one, and simply looking at
currency is almost certainly a relatively useless signal, for another.
In March, the Financial Crimes Enforcement Network, a division
of the U.S. Treasury, made its first steps toward regulation when it
issued an «an interpretive guidance to clarify the applicability
of the regulations implementing the Bank Secrecy Act («BSA») to persons creating, obtaining, distributing, exchanging, accepting, or transmitting virtual
currencies.»
December 2001 (576 kb PDF file): Articles reviewing IMF research on capital controls,
currency unions, and environmental
issues; country study: United States; summary
of October 2001 World Economic Outlook; list
of IMF working papers; visiting scholars at the IMF.
Virtual
currency that can be monetized, resold, or converted to physical or digital products and services or otherwise exit the virtual world (e.g., Bitcoin); sale
of stored value or credits maintained, accepted and
issued by anyone other than the seller
Investigating - We're investigating an
issue where some customers recently were charged incorrectly for purchases
of digital
currency with credit and debit cards.
We're investigating an
issue where some customers recently were charged incorrectly for purchases
of digital
currency with credit and debit cards.
The last time the G - 20
issued such a firm statement against
currency wars Japan was in the spotlight as its campaign
of monetary stimulus pushed the yen to its lowest level against the dollar in about five years.
At around the same time, the first deputy governor
of Russia's central bank proposed a virtual
currency that would be
issued on behalf
of all EAEU nations as well as the BRICS countries: Brazil, Russia, China, India, and South Africa.
But some central bankers have said that
issuing their own
currencies on some sort
of blockchain could make it easier for citizens to use the money without going through intermediaries like banks and credit card companies.
Unlike traditional
currencies such as dollars, bitcoins are
issued and managed without any central authority whatsoever: there is no government, company, or bank in charge
of Bitcoin.
It makes note that virtual
currencies are not
issued through a monetary authority and, as such, lack the characteristics
of legal tender, so they can not be circulated as
currency.
Several
of the largest central banks in the world, including the Bank
of England and the People's Bank
of China, have said they are looking at using the technology introduced by Bitcoin to track and
issue their own digital
currencies.
Bitcoin has, however, served to stimulate interest in the potential offered by distributed ledgers, extending to the possibility
of central - bank -
issued digital
currencies.
Rambler also related that the presidential advisor voiced his support for the creation
of a centralized, state -
issued virtual
currency, the cryptoruble, explaining that such a financial instrument would essentially be «the same ruble, only its movement [would be] limited in a certain way, it [would be] arranged in a certain way.»
The bank official described state -
issued cryptocurrency as another possible solution to this problem, opining that, «Central banks around the world are examining (the use
of digital
currencies) so we should as well.»
Also, major policy
issues, including digital
currency and regulations
of distributed ledger technology, have been reviewed.»
In March 2014, just in time for the filing
of 2013 tax returns, the IRS
issued guidance on virtual
currency.
The deal will also establish a side agreement between the United States and South Korea that is intended to deter «competitive devaluation»
of both countries»
currencies — which can artificially lower the cost
of imports bought by consumers — and to create more transparency on
issues of monetary policy.
Risks associated with investing in Industrials include the possibility
of a worsening in the global economy, acquisition integration risk, operational
issues, failure to introduce to market new and innovative products, further weakening in the oil market, potential price wars due to any excesses industry capacity, and a sustained rise in the dollar relative to other
currencies.
We'll ignore
currency issues (including the jurisdiction
of the CFTC over such things) for the moment, except insofar as New York's definition
of virtual
currency (which you need a license to move around) is very broadly construed and includes most «digital units
of exchange» which could certainly include tokens.
While most
of the foregoing bills are at an early stage, and do not comprehensively regulate virtual
currency or blockchain technology, it is encouraging that legislators on both sides
of the aisle are increasing their focus on
issues relating to this technology.
On November 4, 2017, Yao Qian, the Deputy Director
of the PBoC's Science and Technology Division and director
of the PBoC Digital
Currency Research Institute, reportedly spoke in Beijing, where he highlighted the importance
of state - backed, central bank -
issued cryptocurrency in an increasingly digital world.
Senator Coburn, generally regarded as being very conservative, has yet to
issue statements that are clearly indicative
of his position on virtual
currencies.
One
issue is that although many
of the big institutions are curious about how bitcoin's underlying blockchain technology could revolutionize the financial sector, bitcoin isn't widely accepted as
currency and has no intrinsic value.
On March 19, 2018, the US Department
of the Treasury
issued guidance regarding virtual
currency sanctions levied by its Office
of Foreign Assets Control (OFAC), explaining that OFAC may add specific digital
currency addresses to the Specially Designated Nationals (SDN) List.
Digital
currencies such as bitcoin are
issued and usually controlled by its developers, and are used by members
of virtual communities.
Bank
of England governor Mark Carney said this week that the G20 needed to consider how easily digital coins should be converted into other central - bank
issued currencies, as well as the role
of anonymity, as «a lot
of the underlying use
of these
currencies has been illicit activity».
China: «YuanCoin» Trial a Success Following the rise in popularity
of the first blockchain - based
currency in the world, i.e. Bitcoin, the People's Bank
of China (PBOC) is getting closer to
issuing its own, albeit centralized, government - backed sovereign digital
Indeed, it would be un-Trump — in light
of his campaign slogans
of «Make America Great Again» and «America First» — if the first days
of the new administration passed without major U.S. actions on
issues like the Chinese
currency, market access for U.S. companies, and Chinese exports to the United States.
Three prominent legislators have
issued a joint letter to the Commissioner
of the Internal Revenue Service (IRS), requesting information about IRS digital
currency strategy as well as regarding an IRS John Doe Summons to Coinbase.