DAILY DOSE: June 7, 2021
Posted on 06/07/2021
1. SEC Chairman Gary Gensler is reviewing payment for order flow rules. Robinhood Securities runs the popular stock trading app Robinhood. Robinhood makes most of its money from selling payment for order flow to firms like Citadel. Robinhood earlier filed for its IPO.
2. U.S. FDA approved Biogen Inc’s aducanumab as the first treatment to address an underlying cause of Alzheimer’s disease. The approval is controversial due to mixed clinical trial results for the drug. Aducanumab seeks to get rid of sticky deposits of a protein called amyloid beta from the brains of patients in earlier stages of Alzheimer’s. FDA: “The late-stage development program for Aduhelm consisted of two phase 3 clinical trials. One study met the primary endpoint, showing reduction in clinical decline. The second trial did not meet the primary endpoint.”
3. Russia’s Finance Ministry may order state-owned companies to switch to euros in regard to overseas currency holdings in a move to get away from the U.S. dollar.
4. Moderna is seeking European Union authorization for the COVID shots for kids.
5. Amazon.com, Inc. founder Jeff Bezos plans to travel to space with his brother and auction winner in Blue Origin’s first human space flight on July 20, 2021. Blue Origin is part of Bezos Expeditions.
6. U.S. Treasury Secretary Janet Yellen recently said higher interest rates would be a plus for society and that U.S. monetary policy can handle inflation risks.
7. Mali’s military commander Assimi Goita (age 37), who removed a transitional president and prime minister in May 2021, has been sworn into office as the new interim president. “I swear before God and the Malian people to preserve the republican regime … to preserve democratic gains,” Assimi Goita said during an inauguration ceremony in Bamako.
8. Turkey top prosecutor files indictment to close rival party – Kurdish party.
9. Bitcoin buyer MicroStrategy, a listed company, plans to offer US$ 400 million in Senior Secured Notes Due 2028.
