completion – LSD News

President stresses timely completion of urban development and housing projects

LSD News Szerkesztőség — Fri, 06 Jun 2025 11:41:44 +0000

A progress review meeting on the projects implemented by the Ministry of Urban Development, Construction and Housing under the current budget allocations was held today (06) at the Presidential Secretariat, under the patronage of President Anura Kumara Dissanayake.

The discussion focused extensively on the progress of urban development projects aimed at transforming Sri Lanka into an attractive tourist destination, the on-going canal purification and solid waste management initiatives in the Colombo District, water supply projects and housing assistance programmes.

President Dissanayake instructed officials to ensure that every project is completed within its originally planned schedule, without delays, the President’s Media Division (PMD) said.

The meeting was attended by Minister of Urban Development, Construction and Housing Anura Karunathilaka, Secretary to the President Dr. Nandika Sanath Kumanayake, Secretary to the Ministry of Finance Mahinda Siriwardana, Secretary to the Ministry of Urban Development, Construction and Housing Ranjith Ariyaratne, Senior Additional Secretaries to the President Russell Aponsu and Kapila Janaka Bandara along with senior officials from both the Ministry of Finance and the Ministry of Urban Development.

–PMD—

Robinhood shares surge to record high following completion of Bitstamp acquisition

LSD News Szerkesztőség — Wed, 04 Jun 2025 15:41:56 +0000

Shares of Robinhood, the financial services app that offers both stock and crypto trading, surged to an all-time high on Wednesday following the completion of the company’s acquisition of crypto exchange Bitstamp earlier this week.

Robinhood’s stock jumped 13% this week, climbing from $66.05 on Monday morning to a high of $74.42 in pre-market trading on Wednesday. However, shares in the company fell by 4% after the market opened on Wednesday, and are hovering at around $72.

The upswing follows an announcement from Robinhood on Monday that the company had completed its $200 million acquisition of Bitstamp, the longest-running global crypto exchange. The all-cash deal was first made public last June.

Bitstamp holds 50 crypto licenses and registrations—authorizations issued by a government that allow a company to legally operate within the finance and crypto spaces—throughout the U.S., Europe, the U.K., and Asia. With Bitstamp’s widespread regulatory compliance, Robinhood is hoping to expand into the international digital asset market.

The acquisition also helps Robinhood expand its customer base to include institutional clients, like banks or hedge funds, that make up a majority of Bitstamp’s exchange volume. Bitstamp has 500,000 retail investors and approximately 5,000 institutional investors, according to a statement from Robinhood.

“Through this strategic combination, we are better positioned to expand our footprint outside of the U.S. and welcome institutional customers to Robinhood,” general manager of Robinhood Crypto, Johann Kerbrat, said in a statement, when the deal was initially announced.

Crypto trading on Robinhood, which was introduced in 2018, has grown to drive a large portion of the company’s revenue. In Q4 of 2024, Robinhood raked in a record $1 billion in revenue, boosted by a 500% bump in revenue from crypto transactions between October and December. Last quarter, despite a slight pullback in crypto trading on the platform, revenue from crypto-related transactions made up 27% of Robinhood’s overall revenue.

However, Robinhood CEO Vlad Tenev noted in a recent earnings call that the company is looking for ways to diversify its revenue streams away from crypto to protect its profits from the volatility associated with the asset class.

“It’s going to go up and down in terms of trading volumes,” Tenev said. “We’re diversifying the business outside of the crypto business, which will make us less reliant on crypto transaction volumes.”

The closure of the Bitstamp deal comes as the crypto market recovers from a historic sell-off this year, prompted by President Donald Trump’s on-again off-again tariff policy. The entire crypto market has managed to claw back some of its previous gains over the past few weeks, reclaiming 36% of its market cap since hitting a yearly low of $2.42 trillion in April.

This story was originally featured on Fortune.com

Ethereum Price Eyes $2,700 As Wyckoff Accumulation Nears Completion

LSD News Szerkesztőség — Mon, 21 Apr 2025 23:23:53 +0000

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Crypto analyst Incognito has predicted that the Ethereum price could soon rally to as high as $2,700. This bullish prediction comes despite ETH’s underperformance so far, with the altcoin’s market share already dropping to new lows.

Ethereum Price Could Rally To $2,700 As Wyckoff Accumulation Nears

In a TradingView post, Incognito predicted that the Ethereum price could witness a big move to $2,700 with the Wyckoff accumulation almost over. He remarked that if support holds, the ETH should see a breakout of the falling wedge. The analyst’s accompanying chart showed that $2,499 is the target for the falling wedge, while $2,700 is the second target that Ethereum could reach on this breakout.

ETH May Have Already Bottomed

In an X post, crypto analyst Titan of Crypto suggested that the Ethereum price has already bottomed or may be bottoming out. He revealed that the leading altcoin is progressing within a giant ascending channel on the macro chart. His accompanying chart showed that ETH could rally to as high as $4,200 following this bullish reversal.

Tesla Autopilot safety probe by federal vehicle regulators nears completion

LSD News Szerkesztőség — Sun, 27 Aug 2023 00:07:37 +0000

A multiyear investigation into the safety of Tesla’s driver assistance systems by the National Highway Traffic Safety Administration, or NHTSA, is drawing to a close.

Reuters’ David Shepardson first reported on the latest developments Thursday, citing NHTSA acting administrator Ann Carlson. CNBC confirmed the report with the federal vehicle safety regulators.

A spokesperson for NHTSA declined to disclose further details, but told CNBC in an e-mail, “We confirm the comments to Reuters,” and “NHTSA’s Tesla investigations remain open, and the agency generally does not comment on open investigations.”

The agency initiated a safety probe of Tesla’s driver assistance systems — now marketed in the U.S. as Autopilot, Full Self-Driving and FSD Beta options — in 2021 after it identified a string of crashes in which Tesla drivers, thought to be using the company’s driver assistance systems, crashed into first responders’ stationary vehicles.

Despite their names, none of Tesla’s driver assistance features make their cars autonomous. Tesla cars cannot function as robotaxis like those operated by General Motors-owned Cruise or Alphabet‘s Waymo. Instead, Tesla vehicles require a human driver at the wheel, ready to steer or brake at any time. Tesla’s standard Autopilot and premium Full Self-Driving systems only control braking, steering and acceleration in limited circumstances.

Tesla CEO Elon Musk — who also owns and runs the social network X (formerly Twitter) — often implies Tesla cars are autonomous. For example, on July 23, an ex-Tesla employee who led the company’s artificial intelligence software engineering posted on the social network about ChatGPT, and how much that generative AI tool impressed his parents when he showed it to them for the first time. Musk responded on X: “Same happens with Tesla FSD. I forget that most people on Earth have no idea cars can drive themselves.”

In its owners’ manuals, Tesla tells drivers who use Autopilot or FSD: “Keep your hands on the steering wheel at all times and be mindful of road conditions, surrounding traffic, and other road users (such as pedestrians and cyclists). Always be prepared to take immediate action. Failure to follow these instructions could cause damage, serious injury or death.”

The company’s cars feature a driver-monitoring system which employs in-cabin cameras and sensors in the steering wheel to detect whether a driver is paying adequate attention to the road and driving task. The system will “nag” drivers with a chime and message on the car’s touch screen to pay attention and put their hands on the wheel. But it’s not clear that this is a strong enough system to ensure safe use of Tesla’s driver assistance features.

Tesla has previously conducted voluntary recalls of its cars due to other problems with Autopilot and FSD Beta and promised to deliver over-the-air software updates that would remedy the issues. But in July, the agency required Elon Musk’s automaker to send more extensive data on the performance of their driver assistance systems to evaluate as part of its Autopilot safety investigations.

NHTSA publishes data regularly on car crashes in the U.S. that involved advanced driver assistance systems like Tesla Autopilot, Full Self Driving or FSD Beta, dubbed “level 2” under industry standards from SAE International.

The latest data from that crash report says there have been at least 26 incidents involving Tesla cars equipped with level 2 systems resulting in fatalities from Aug. 1, 2019, through mid-July this year. In 23 of these incidents, the agency report says, Tesla’s driver assistance features were in use within 30 seconds of the collision. In three incidents, it’s not known whether these features were used.

Ford Motor is the only other automaker reporting a fatal collision that involved one of its vehicles equipped with level 2 driver assistance. It was not known if the system was engaged preceding that crash, according to the NHTSA report.

Tesla did not respond to a request for comment.