Woman Loses Thousands In Bitcoin After Fake Sheriffs Dupe Her Into Clearing Fraud Arrest Warrant
In another case of a shocking cryptocurrency scam, a Colorado resident was tricked into sending $6,000 worth of Bitcoin BTC/USD to bogus law enforcement officials.
What Happened: As per documents first accessed by Decrypt, the scammers threatened the victim with arrest for supposedly missing jury duty. The victim, under the impression that she had missed a jury summons, followed the scammer’s instructions to settle a fake warrant via a Bitcoin ATM.
An additional transfer of $4,000 was in progress, but deputies managed to prevent it from being completed.
The Summit County Sheriff’s Office confirmed the incident and warned that similar cases of scammers masquerading as law enforcers were on the rise across the state.
“A deputy will never call anyone to notify them of a warrant for their arrest and then offer to clear it in exchange for gift cards, wire transfers or Bitcoin,” the statement from the office read.
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Why It Matters: The rising cases of impersonations intended to swindle cryptocurrency holders have become a cause for concern for the entire country.
Earlier in August, the Federal Bureau of Investigation (FBI) sounded the alarm on incidents of scammers impersonating cryptocurrency exchange employees to defraud people.
Price Action: At the time of writing, Bitcoin was exchanging hands at $68,784.68, up 0.56% in the last 24 hours, according to data from Benzinga Pro.
What’s Next: Investors and enthusiasts alike can stay informed on these issues at events like Benzinga’s upcoming Future of Digital Assets conference on Nov. 19, where industry experts and law enforcement officials are expected to discuss the latest trends in cryptocurrency security and fraud prevention.
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US Stocks Settle Higher Following Jobs Data, Amazon Surges Post Results: Fear Index In 'Neutral' Zone
The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the “Neutral” zone on Friday.
U.S. stocks settled higher on Friday, as investors digested the recent jobs data.
The U.S. economy added 12,000 jobs in October compared to a revised 223,000 gain in September and versus market estimates of 113,000. Average hourly earnings increased by 0.4% over a month to $35.46 in October, while the unemployment rate remained at 4.1% in October.
Shares of Amazon.com Inc. AMZN surged over 6% on Friday after the company posted stronger-than-expected results for the third quarter. Apple Inc. AAPL shares slipped over 1% following fourth-quarter results.
Most sectors on the S&P 500 closed on a negative note, with utilities, energy, and real estate stocks recording the biggest losses on Friday. However, consumer discretionary and information technology stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by around 289 points to 42,052.19 on Friday. The S&P 500 rose 0.41% to 5,728.80, while the Nasdaq Composite rose 0.80% at 18,239.92 during Friday’s session.
U.S. stocks recorded losses in October, with the Dow falling 1.3% and the broad market index declining 1% during the month.
Investors are awaiting earnings results from Constellation Energy Corporation CEG, Marriott International, Inc. MAR, and Wynn Resorts, Limited WYNN today.
What is CNN Business Fear & Greed Index?
At a current reading of 48.8, the index remained in the “Neutral” zone on Friday, versus a prior reading of 46.5.
The Fear & Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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Investment Firm Raises Price Target For Warren Buffett's Berkshire Hathaway To $750,000 Despite Q3 Earnings Miss
Investment banking firm Keefe Bruyette has raised its price target for Berkshire Hathaway BRK BRK to $750,000, even though the company fell short of third-quarter earnings expectations. The firm continues to hold a Market Perform rating on the stock.
What Happened: Berkshire Hathaway’s third quarter operating earnings per share came in at $7,023, missing the Street’s forecast of $7,335. The shortfall was primarily due to weaker-than-expected results in property and casualty underwriting, as well as in the Manufacturing, Service, and Retailing sectors. Additionally, the company faced higher “other” losses than anticipated.
Despite these setbacks, the Warren Buffett-led company saw stronger-than-expected income from its Railroads, Utilities, and Energy sectors, along with robust insurance investment income. Keefe Bruyette noted that the earnings miss and the lack of share repurchases might put pressure on Berkshire’s shares as the week progresses.
Why It Matters: Berkshire Hathaway highlighted that the decline in third-quarter operating earnings was driven by weaknesses in its insurance underwriting segment. The Omaha-based conglomerate’s quarterly operating earnings of $10.09 billion marked a decline of over 6% compared to the previous year.
Furthermore, as of the end of September, approximately 70% of Berkshire’s aggregate fair value was concentrated in five companies, underscoring its investment strategy.
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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
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Dollar Slips as Polls Show US Race on Knife’s Edge: Markets Wrap
(Bloomberg) — The dollar fell as investors walked back bets on Donald Trump winning the US presidential election after weekend polls indicated Kamala Harris was gaining ground. Oil rose after OPEC+ delayed an output hike.
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An index of the greenback dropped the most in more than a month, while the Mexican peso — which tumbled in the aftermath of Trump’s 2016 victory — was the top performer among 16 major currencies tracked by Bloomberg. Treasury futures rose while European stocks were little changed.
The moves came after a poll by the Des Moines Register showed Harris with a lead in Iowa — a state Trump has won in each of his prior election contests. One element of the so-called Trump trade favors higher Treasury yields and a stronger dollar. Still, other surveys show the two candidates poised for a photo finish, with voters narrowly split both nationally and across the pivotal swing states.
The dollar gauge and 10-year Treasury yields both had reached their highest since July in recent weeks, after investors ramped up wagers on a second term for Trump. There’s concern that his support for looser fiscal policy and steep tariffs will deepen the federal deficit and fuel inflation, undermining Treasuries.
“It’s impossible to call at this point,” Bill Maldonado, chief executive officer at Eastspring Investments, told Bloomberg TV. “We’ve heard Trump talking about tariffs and other measures, but do we really know what’s going to get implemented in what manner? It’s almost impossible to position for it.”
US futures edged higher after Wall Street’s gains Friday following robust earnings from the likes of Amazon.com and Intel Corp. Asian shares rose, with Japanese markets being closed for a holiday.
In addition to the US election, trading across financial markets this week also will be shaped by central bank decisions for the US, UK and Australia, among others.
The Federal Reserve is expected to cut rates by 25 basis points Thursday, after the latest jobs data showed US hiring advanced at the slowest pace since 2020 while the unemployment rate remained low. Even so, the numbers were distorted by severe hurricanes and a major strike.
Economists also expect the Bank of England to lower its benchmark rate by a quarter point to 4.75%.
Tesla Investors Confuse 'Valuation And Stock Price,' Says Gary Black As Investor Sees Recovery In Stock
Gary Black, managing partner at The Future Fund, shared his outlook on Tesla Inc TSLA, stressing that “many TSLA investors still conflate valuation and stock price.”
What Happened: In response to Tesla’s electric vehicle price cuts in October 2022, The Future Fund reduced its Tesla earnings estimates and price target, expecting minimal volume growth.
Black noted, “We cut our TSLA position from 12.2% in Oct 2022 to ~4%,” a decision validated as Wall Street’s 2024 earnings per share estimate for Tesla fell 60% over the past two years, pulling down valuations and stock price.
Looking ahead, Black sees an opportunity as Tesla prepares to launch a compact EV priced between $25,000 and $30,000, aimed at boosting its total addressable market.
“Analysts are again starting to increase TSLA EPS estimates,” he explained, a trend he believes will positively impact Tesla’s valuation and stock price.
Contrary to popular assumptions, Black emphasized that his price target “changes as our fundamental outlook changes,” not based on stock price movements. As Tesla’s gross margins stabilize, Black anticipates a stock rebound, predicting that as “TSLA earnings estimates continue to recover,” the stock price should follow suit.
“We expect [Tesla] stock to continue to recover as TSLA earnings [estimates] continue to recover,” Black wrote.
Why It Matters: Black’s comments come at a time when Tesla is making significant strides in its autonomous driving technology. Despite initially dismissing the need for Lidar, the company is now reportedly considering its use.
Additionally, Tesla’s plans to expand its ‘Actually Smart Summon’ feature beyond the U.S. and its cost-efficient Cybercab production are indicative of the company’s commitment to innovation and growth.
Despite these advancements, Tesla has faced stiff competition from Chinese EV giant BYD, which recently outperformed Tesla in quarterly revenue for the first time since 2022. This has raised questions about Tesla’s ability to maintain its market dominance in the face of increasing competition.
Price Action: Tesla Inc.’s stock closed at $248.98 on Friday, down 0.35% for the day. In after-hours trading, the stock edged up by 0.16%. Year-to-date, Tesla shares have increased by 0.23%, according to data from Benzinga Pro.
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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
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Skanska builds commercial office development in Mayfair, London, UK, for GBP 197M, about SEK 2.6 billion
STOCKHOLM, Nov. 4, 2024 /PRNewswire/ — Skanska has signed a contract with a Grosvenor and Mitsui Fudosan UK joint venture to construct South Molton that comprises two new category A office buildings in London, UK. The contract is worth GBP 197M, about SEK 2.6 billion, which will be included in the order bookings for Europe in the fourth quarter of 2024.
Skanska will lead construction of two new office buildings that form part of the wider redevelopment of South Molton in Mayfair, London. Totalling 24,800 square meter (267,000 square feet), the project involves the demolition of existing buildings and construction of two new buildings to provide a total of 13,800 square metre (149,000 square feet) of offices fitted out to category A standard. The project also includes the provision of retail, leisure, food and beverage outlets, including the renovation of the Running Horse public house.
The building is targeting environmental standards BREEAM Outstanding for offices and Design for Performance to secure a NABERS 5* accreditation. It’s also targeting WiredScore Platinum certification.
South Molton will be an exciting new destination in the heart of London’s West End where Grosvenor and Mitsui Fudosan UK are transforming two acres of Mayfair into a lively new place to shop, work, eat, live and stay.
Construction has started and is expected to be complete in July 2027.
For further information please contact:
David Tuddenham, Senior Communications Business Partner, Skanska UK, tel +44 7880 406018
Andreas Joons, Press Officer, Skanska Group, tel +46 (0)10 449 04 94
Direct line for media, tel +46 (0)10 448 88 99
This and previous releases can also be found at www.skanska.com.
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Bitcoin, Ethereum, Dogecoin Reverse As Trump's Odds Fall On Betting Markets: Trader Says 'Bull Run Will Begin' For This Crypto After The Election
Leading cryptocurrencies retraced over the weekend as the probability of Donald Trump winning the presidential election fell sharply in prediction markets.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. EDT) |
| Bitcoin BTC/USD | -1.21% | $68,324.16 |
| Ethereum ETH/USD |
-1.93% | $2,438.68 |
| Dogecoin DOGE/USD | -4.17% | $0.1519 |
What Happened: Bitcoin slipped to a low of $67,500 in the morning hours, a sharp reversal from its near-new highs last week. The leading cryptocurrency recovered to $68,000 late evening.
The pullback looked to be associated with Trump’s declining odds on prediction markets, including Polymarket, which gave him a 54% chance of winning, down from 66% on Oct. 30.
Total cryptocurrency liquidations blasted above $362 million over the last 24 hours, with $264 million in leveraged longs getting wiped out.
Bitcoin’s Open Interest rose 1.45% in the last 24 hours. An increase in OI, coming alongside a dip in price, indicated a surge in short selling.
Additionally, more than 61% of all derivatives traders with open positions were short on Bitcoin, according to the Long/Short Ratio.
That said, the market sentiment remained in the “Greed” category, as per the Cryptocurrency Fear and Greed Index.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. EDT) |
| Immutable (IMX) | +2.63% | $1.10 |
| Chainlink (LINK) | +0.98% | $156.80 |
| Sui (SUI) | +0.56% | $1.92 |
The global cryptocurrency stood at $2.28 trillion, following a contraction of 1.05% in the last 24 hours.
Stock futures slipped during overnight trading on Sunday. The Dow Jones Industrial Average Futures dipped 151 points, or 0.37%, as of 7:35 p.m. EDT. Futures tied to the S&P 500 lost 0.19%, while Nasdaq 100 Futures were down 0.10%.
Investors braced for the high-stakes Nov. 5 presidential election between Trump and Kamala Harris with no clear favorite on betting markets and national polls.
The other major event to watch is the Federal Reserve’s FOMC meeting on November 7, with traders pricing in a 25 basis point rate drop, according to the CME FedWatch tool.
See More: Best Cryptocurrency Scanners
Analyst Notes: CrediBULL Crypto, a popular X account known for providing cryptocurrency trading insights, observed Bitcoin’s “constructive” lower-timeframe trajectory and that the leading cryptocurrency was forming a bottom before a push to new highs.
Contrary to the market’s bearish view, widely followed cryptocurrency trader Nihilus believed Ethereum’s bull run to begin after the elections.
“Many people think ETH will drop due to the liquidity levels below, but the market maker doesn’t think so. Last year around this time, nobody was saying ETH would reach $2,000, and now almost no one is saying that ETH is preparing for a bull season,” the trader remarked.
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