Bitcoin: Elon Musk is a confused human being
Plus Shell considers selling major oil field & McDonald's hit by data breaches
Hello there,
Tesla (TSLA) CEO, Elon Musk, said the company will resume bitcoin transactions once it confirms there is reasonable clean energy usage by miners.
Why this matters: The electric-car maker halted car purchases with bitcoin last month due to concerns over how cryptocurrency mining contributes to climate change. Musk’s tweets about cryptocurrency often send prices soaring or plummeting, with his comments this time causing a 10% surge. Magda Wierzycka, CEO of South African asset manager Sygnia, said that Musk’s tweets on bitcoin prices were “market manipulation” and should have triggered an investigation by the U.S. Securities and Exchange Commission. (CNBC)
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Shell considers selling major oil field
Shell (RDS.A) is reviewing its holdings in the largest U.S. oil field for a potential sale.
Why this matters: Shell and its peers have come under pressure to increase profits and slash greenhouse gas emissions. Shell's transition plan aims to reduce oil and gas output gradually and boost spending on renewables, hydrogen and low-carbon technologies. The sale could be for part or all of Shell’s about 260,000 acres in the Permian Basin and could be worth as much as $10 billion. (CNBC)
McDonald's hit by data breaches
McDonald's (MCD) suffers data breaches with hackers stealing customer and employee information.
Why this matters: This makes McDonald’s the latest corporation to be hit by a cyberattack with the only difference being that no ransom was paid. JBS, one of the biggest meat suppliers in the US, had to pay an equivalent of $11 million in ransom & Colonial Pipeline had to pay its attackers 75 Bitcoins (worth around $4.3 million at the time). Hackers involved with the McDonald’s breach got away with customer and employee information from its businesses in the US, South Korea and Taiwan. (Yahoo Finance)
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What else are we reading?
The video game industry’s annual trade show, E3, kicked off with Microsoft’s (MSFT) teasing a new game. (CNBC)
That’s it from us today.