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Jeff Bezos’s rocket dream takes a big step

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Amazon has altered its plans for launching its first set of prototype internet satellites to prevent further delays in their deployment.

The company intends to launch these satellites, which are part of its Kuiper program aiming to provide global internet coverage from space, on a dedicated Atlas V rocket from the United Launch Alliance (ULA), a joint venture between Boeing and Lockheed.

The launch is scheduled for September 26. Initially, Amazon had planned to use ULA’s new Vulcan rocket for the launch, but Vulcan faced testing challenges that pushed its launch date to the fourth quarter of 2023.

To meet regulatory deadlines and deploy half of its planned 3,200 satellites by 2026, Amazon decided to switch rockets once again.

The move is part of Amazon’s effort to compete with SpaceX’s Starlink network by investing $10 billion into its satellite internet initiative.

Amazon secured 83 launches for deploying its satellites, with nine of them utilizing the Atlas V rocket, which has a proven track record in space missions.

The Atlas V rocket has been ULA’s workhorse launcher, involved in launching satellites for various purposes, including multibillion dollar science missions for NASA and critical national security missions for the Pentagon. ULA had discontinued the sale of the Atlas V in 2021 and has 19 more missions planned before the rocket’s retirement.

This particular launch planned for September remains uncertain if it’s included in the nine that Amazon had previously procured.

The decision showcases Amazon’s determination to establish itself in the satellite internet market, pledging significant investment to rival established networks.

As Amazon navigates through these changes, it aims to stay competitive in this fast-evolving sector while addressing the challenges and opportunities of satellite-based internet coverage.

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Amazon launches ‘Haul’ for low-cost goods

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Amazon has introduced ‘Haul,’ a new budget outlet with prices capped at $20 to take on low-cost rivals Shein and Temu.

The online giant says Haul will feature “crazy low prices” with delivery times of up to two weeks.

The launch marks Amazon’s foray into selling cheaper goods, similar to the fast-growing model of its Chinese competitors.

Retail analysts caution that this new venture may face environmental concerns similar to Temu’s and Shein’s.

With most items priced under $10, Amazon is banking on a surge in demand for affordable finds.

Haul offers free delivery on orders over $25, positioning itself as the new low-cost option in the crowded market.

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Traders bet on Bitcoin hitting $100k by end of year

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Surge in Bitcoin prices follows pro-crypto political victories, with traders betting on a $100,000 milestone by year-end.

Bitcoin’s value surged past $90,000 on Wednesday, marking a record high amid investor excitement surrounding a possible cryptocurrency renaissance as Donald Trump steps into his second term as U.S. president.

The election of Trump, who has openly endorsed crypto, has sparked a 30% rise in bitcoin’s price since Election Day, boosted by the success of dozens of congressional candidates supported by crypto-friendly political action committees.

Hitting $100,000

According to Jake Ostrovskis, an OTC trader at crypto market maker Wintermute, traders are betting that Bitcoin could hit $100,000 before the end of the year, with $850 million in options contracts speculating on this milestone by December 27.

The crypto industry, which contributed around $170 million to support candidates viewed as allies, is optimistic about a wave of deregulation and favorable policies.

Trump has promised to establish a national bitcoin reserve and aims to replace SEC Chair Gary Gensler, who has led a strict regulatory approach to crypto.

With aggregate open interest on Bitcoin derivatives soaring to $61 billion, investors are increasingly bullish, betting on bitcoin’s growth via options and perpetual futures contracts.

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Consumer prices rise as Fed weighs December rate cut

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Consumer prices ticked up in October, marking a slight rise after September’s 3½-year low, showing an uneven path for inflation.

Despite the bump, the increase likely won’t deter the Federal Reserve from a possible December interest-rate cut.

The Labor Department reported consumer prices were up 2.6% from a year ago, with core inflation, excluding food and energy, up 3.3%.

Steady consumer spending and hiring may fuel debate on slowing rate cuts early next year.

Investors welcomed the report, betting on a quarter-point rate cut in December.

This response reflects confidence that President-Elect Trump and the Fed will avoid early policy clashes, despite Trump’s pro-lower-rate stance.

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