U.S. stocks traded slightly higher on Monday, as Wall Street awaited more details on a tax reform that would slash corporate taxes.
Expectations of tax reform have been positive for stocks this year, as a tax-code overhaul would potentially lower corporate taxes and subsequently increase the stock price, as profits raise.
Since stock prices are predicated in large part on expectations of future profits, larger corporate incomes would boost stock prices.
Gold becomes a new way to shop with Glint
The world’s oldest currency is being bought into the digital age. Fintech firm Glint has launched an electronic payment app that allows people to pay for goods and services in gold.
Initially available in Europe and UK from Monday, the app — also called Glint — enables users to load credit in various currencies, which then lets them buy a portion of physical gold bar.
Customers use the app at the checkout to select whenever to pay in currency or gold, before transacting with their MasterCard.
In addition, users can check exchange rates on their phone before choosing the amount of gold or currencies that they will use to make a purchase.
Glint’s new service is riding the wave of alternative payments, as more people seek payment methods that can store value in a way that differs from traditional currencies.
The gold price has risen to about $1,300 an ounce year-to-date.
Volvo Cars to supply Uber with up to 24,000 self-driving cars
Volvo Cars has agreed to supply Uber Technologies Inc. with a fleet of 24,000 self-driving taxis.
The deal was announced Monday and represents one of the most concrete agreement between two big players in a field for the production of a large number of real cars.
Such an order, though, would account for about 4.5% of Volvo current total sale and is estimated to be worth just over $1billion.
The deal will boost sales at Volvo and should also help lower the cost of the Chinese-controlled group’s own fully-autonomous cars planned for 2021.
Volvo has been working closely with Uber to develop a base vehicle with core driverless technology that the ride-hailing company can then augment.
Volvo plans to use those cars for its own future offering.