Crypto is not replacing the U.S. dollar, Bitfury CEO Brian Brooks says

Crypto prices should be viewed more like internet stocks than currency, said Brian Brooks, the former U.S. Acting Comptroller of the Currency during the Trump Administration. The biggest misunderstanding around cryptocurrencies is that if they’re “not doing a great job of replacing the U.S. dollar, then crypto is failing in its mission,” Brooks, now the CEO of bitcoin mining and crypto tech company Bitfury Group, told CNBC’s Ylan Muii at the Aspen Ideas Festival on Monday. “Most of crypto is about replacing the centralized banking system with networks that allow…

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Target will cover employees’ travel to other states for abortions, company memo says

A person walks into a Target store in Washington, DC, on May 18, 2022. Stefani Reynolds | AFP | Getty Images Target will cover employees’ travel if they live in a state where abortion is banned, according to a company memo obtained by CNBC. The new policy will take effect in July, according to the email, which was sent to employees Monday from Target’s Chief Human Resources Officer Melissa Kremer. “For years, our healthcare benefits have included some financial support for travel, when team members needed select healthcare procedures that…

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Qualcomm stock jumps after analyst predicts Apple will use its modems for 2023 iPhone

Qualcomm president and CEO Cristiano Amon speaks about Qualcomm’s technology for automakers at a news conference during CES 2022 in Las Vegas, Nevada, January 4, 2022. Steve Marcus | Reuters Qualcomm shares climbed more than 5% on Tuesday after a prominent analyst said Apple is likely to use the company’s 5G modems for its 2023 iPhones rather that relying on technology built in-house. “My latest survey indicates that Apple’s own iPhone 5G modem chip development may have failed, so Qualcomm will remain exclusive supplier for 5G chips of 2H23 new…

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From milligrams to gigatons: Startup that sucks carbon dioxide from the atmosphere is building a big new plant in Iceland

Christoph Gebald (left) and Jan Wurzbacher, co-founders of Climeworks. Photo courtesy Climeworks Carbon dioxide removal startup Climeworks announced on Tuesday it is building a second commercial sized plant in Iceland. When fully operational in 18 to 24 months time, the plant will capture and store 36,000 metric tons per year of carbon dioxide. That’s a very small percentage of the total amount of carbon dioxide emitted around the globe each year: In 2021, total global carbon dioxide emissions were a record-high 36.3 billion metric tons, according to the International Energy…

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HHS secretary vows women in states that ban abortion will have access in cases of rape or incest

U.S. Health and Human Services Secretary Xaviar Becerra holds a news conference to unveil the Biden administration’s action plan following the overturning of Roe v Wade, at the Department of Health and Human Services in Washington, U.S., June 28, 2022. Evelyn Hockstein | Reuters Health and Human Services Secretary Xavier Becerra on Tuesday directed federal health agencies to ensure victims of rape and incest in states where abortion has been banned have ready access to medication that terminates pregnancy. Becerra told reporters that federal law requires HHS programs to grant abortion pills in…

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Juul seeks to extend stay on FDA ban saying agency did not evaluate all its evidence

A sign advertising Juul brand vaping products is seen outside a shop in New York City, February 6, 2019. Mike Segar | Reuters Juul Labs is seeking to extend a temporary stay on the Food and Drug Administration’s ban of its e-cigarettes, according to a court filing Tuesday. Criticizing the FDA’s review process, Juul said in the filing that the agency overlooked more than 6,000 pages of data that it provided about the aerosols generated by heating the liquid in its pods and that users ultimately inhale. The FDA had…

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Stocks making the biggest moves midday: Nike, Las Vegas Sands, Boston Beer and more

Disney store is seen in Times Square, New York City. Nick Pfosi | Reuters Check out the companies making headlines in midday trading. Nike — Shares of Nike fell more than 5% even after the company topped Wall Street’s earnings and sales expectations for the fiscal fourth-quarter. Nike said it anticipates flat to slightly higher revenue for its fiscal first-quarter versus the prior year, and low double-digit revenue for the full year 2023 on a currency-neutral basis. Walt Disney — Disney shares rose more than 1% after it said Shanghai…

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