CNBC Daily Open: Bitcoin isn’t really a currency (yet)

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

A flat market
U.S. markets were closed Monday for the Labor Day holiday. The pan-European Stoxx 600 dipped 0.04% as diverging sectors balanced the scales: Telecoms stocks added 0.78% while retail stocks lost 0.77%. Meanwhile, real estate listings company Rightmove popped 27% after Australian rival REA Group said it was considering making an offer for it.

Brazil's ban on X upheld
A panel of Brazil's federal supreme court justices voted Monday to uphold the country's ban on X. On Friday, Brazil's top justice Alexandre de Moraes issued an order to ban X after the Elon Musk-owned company refused to comply with earlier court orders concerning content moderation and the appointment of a legal representative in Brazil.

Volkswagen warns of plant closures
German automobile conglomerate Volkswagen warned it might have to close more vehicle plants in Germany because of high costs. "Germany … is falling further behind in terms of competitiveness," said Volkswagen Group CEO Oliver Blume, who also cited "new competitors" in the European market contributing to an "extremely tense" situation.

Huawei tries to upstage Apple
Apple's announcing a new iPhone on Sept. 9, but Huawei wants to make sure it steals some of the company's limelight. Huawei will hold its own product launch on Sept. 10 at 2:30 p.m. Beijing time, just hours after Apple's event. Teasing the new product, Huawei executive Richard Yu said the company has "turned science fiction into reality."

[PRO] Bumpy months for bitcoin
Bitcoin lost 10.25% in August,