Self-proclaimed crypto sceptic Max Levchin says Affirm may have to consider cryptocurrencies if Bitcoin's popularity continues to grow
Crypto sceptic Max Levchin says Affirm may have to consider cryptocurrencies as a payment option as Bitcoin soars to all-time highs. Fintechs and incumbents alike, including Mastercard, Visa, and PayPal, are leaning into crypto. "I think at some point, sceptic or not, you have to listen to the market," Levchin said in an earnings-day interview with CNBC. Visit the Business section of Insider for more stories. It seems everyone in payments is warming up to cryptocurrencies as Bitcoin nears a would-be record value of $US50,000. Bitcoin's value surged 16% last Monday after Tesla disclosed a $US1.
The series of negative news continues at the health group Fresenius, which was once used to success. © Provided by Finanz.net Ralph Orlowski / Getty Images
The hospital and medical group Fresenius wants to reduce its costs because of the stresses caused by the corona pandemic. By the year 2023, the DAX group wants to achieve improvements in earnings after taxes and minority interests of at least 100 million euros annually, as Fresenius announced on Tuesday in Bad Homburg when presenting its annual figures for 2020.
In the following years, additional earnings improvements should then be possible. Initially, however, the group anticipates considerable expenses for the program. These are likely to be in the same range of 100 million euros per year between 2021 and 2023. Fresenius wants to book these as special items. Last year, due to the pandemic, the group posted a 4 percent drop in adjusted earnings to just under 1.8 billion euros.
The needless clash between teachers’ unions and science is harming America’s kids
The evidence it clear: We can open schools safely now.Educators’ anxiety is based on reasonable concerns. Covid-19 is a serious illness. And schools are an indoor group setting with the potential to spread infection. But schools, it turns out, with a few basic safety measures, including masks and reasonable distancing, are not a high-risk venue for Covid-19 transmission. In fact, they appear to have far lower rates of the virus than their surrounding communities. Still, some education union leaders are beginning to lay the foundation for schools remaining shuttered into the 2021-22 school year.
The subsidiary Fresenius Medical Care is also working on its costs. In order to reduce this sustainably, the dialysis provider is investing up to 500 million euros in the renovation by 2025. For every euro invested, the company expects an improvement in the operating result by at least the same amount in 2025./tav/stk
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Fresenius achieves 2020 annual targets
Der Health care group achieved its goals last year despite ongoing COVID-19 pollution. As the Bad Homburg DAX group announced, net profit adjusted for currency and special factors decreased by 4 percent to 1.796 billion euros in 2020 as a whole. Here, Fresenius had targeted growth at the lower end of the range of minus 4 percent to plus 1 percent compared to the previous year.
Sales increased by 5 percent after adjusting for currency effects to 36.3 billion euros. Fresenius SE & Co KGaA had set itself the target of an adjusted increase of between 3 and 6 percent compared to the previous year's figure of 35.4 billion euros.
In the final quarter of 2020, sales remained at 9.3 billion euros. Adjusted for currency effects, growth was 5 percent. EBIT before special items was 1.251 billion euros. This corresponds to a decrease of 3 percent or a currency-adjusted increase of 2 percent. Adjusted profit after taxes and third parties decreased by 2 percent (currency-adjusted plus 2 percent) to 494 million euros.
BAD HOMBURG / FRANKFURT (dpa-AFX / Dow Jones Newswires)
Greenhouse gas restrictions denied, but new pollution limits imposed on Latrobe Valley power stations .
EPA Victoria decides against restricting greenhouse gas emissions from Victoria's coal-fired plants, introducing new monitoring and pollution controls instead after a three-year review.The Environment Protection Authority's (EPA) review, which took three years to produce, has for the first time imposed limits on how much mercury and fine and coarse particulate matter the plants can release.