• Bitcoin and other digital coins plunged on Friday wiping over $260 billion of the value of the cryptocurrency market.
  
• “The market has run up quite a bit overall, and it’s probably cooling off before the next leg up,” Vijay Ayyar, head of business development at cryptocurrency exchange Luno, said.
  
• Cryptocurrencies are known for their wild price swings.
  

• There’s a “huge economic incentive” for China to move away from coal, according to a report by financial analytics company TransitionZero.
  
• China last year said it aims to achieve carbon neutrality by 2060, but is currently heavily reliant on coal.
  
• “There’s a great deal of work that China will still need to do,” said Matthew Gray, co-CEO of TransitionZero.
  

New York (CNN Business)When first announced in 2017, Foxconn's plan to build a massive electronics factory in Wisconsin was hailed by then-President Donald Trump as a sign of the rebirth of American manufacturing.

But nearly four years later, the complex that promised to create a Silicon Valley in the industrial Midwest is essentially a white elephant, a collection of mostly empty buildings without any high-tech products to build.

And this week it became official: The pledged investment of up to $10 billion to create as many as 13,000 jobs is not coming.

The Wisconsin Economic Development Corp. and the Taiwanese electronics maker signed a revised incentive deal outlining a $672 million investment from Foxconn that will create fewer than 1,500 jobs. The incentives package now totals only $80 million, less than 3% of the nearly $3 billion in tax breaks and other perks the state originally promised.

"When I ran to be governor, I made a promise to work with Foxconn to cut a better deal for our state," Gov. Tony Evers said on Tuesday. "The last deal didn't work for Wisconsin, and that doesn't work for me."

Evers, a Democrat, made opposition to the lucrative package one of the main issues of the 2018 campaign in which he defeated incumbent Gov. Scott Walker, a Republican and ally of President Trump.

From Moaz Nair

Quote:This is the 21st century but if PAS is still bogged down with conservatism and fantasies of the Middle Ages in seeking partnership only with non-liberal or conservative political parties in their approach to politics and nation-building, the country can never progress under their rule.