Jennifer Sor Lucas Jackson/Reuters US stocks traded mixed as investors digested the latest Fed comments on the outlook for interest rates. Two regional Fed presidents see rates rising over 5% in order for the central bank to rein in inflation. Investors also have their eye on Thursday’s December CPI report, a key inflation measure that… Continue reading US stocks trade mixed as investors digest latest Fed comments on rate outlook
One of the first banks to dive into crypto is exiting the business, citing ‘recent developments’ in the market
Metropolitan Commercial Bank says the firm will terminate its crypto-related offerings for clients. The bank was one of the first to jump into the nascent digital asset market. The firm cited changes in the regulatory environment as part of its decision. Loading Something is loading. Thanks for signing up! Access your favorite topics in a… Continue reading One of the first banks to dive into crypto is exiting the business, citing ‘recent developments’ in the market
Warren Buffett’s Berkshire Hathaway sells a million more BYD shares to realize huge profits in the Chinese EV maker
Warren Buffett’s Berkshire Hathaway sold 1 million more shares of Chinese EV maker BYD.Berkshire Hathaway still owns 153.3 million shares of BYD, which represents a 14% stake.Buffett’s firm initially invested $232 million in the automaker in 2008, creating billions of dollars in profits. Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading Warren Buffett’s Berkshire Hathaway sells a million more BYD shares to realize huge profits in the Chinese EV maker
Sam Bankman-Fried’s attorneys are bringing experience working on ‘El Chapo’ and Ghislaine Maxwell cases to the crypto exec’s defense
Sam Bankman-Fried’s lawyers have experience working on big cases related to drug lord ‘El Chapo’ and Ghislaine Maxwell. Attorneys Mark Cohen and Christian Everdell are former federal prosecutors who are now partners at Cohen & Gresser. Last week, Bankman-Fried pleaded not guilty to six conspiracy counts and two counts of wire fraud. Loading Something is… Continue reading Sam Bankman-Fried’s attorneys are bringing experience working on ‘El Chapo’ and Ghislaine Maxwell cases to the crypto exec’s defense
China looks to weaken US dollar with petroyuan as oil producers rally to Beijing, and Russia has ‘become an Asian nation,’ analyst says
Russia’s war on Ukraine triggered a larger embrace of the yuan for oil sales which could shift the crude market. Kpler lead crude analyst Viktor Katona told Insider that Russia has essentially “become an Asian nation.” The birth of a so-called petroyuan could spread across Asia for crude transactions, he added. Loading Something is loading.… Continue reading China looks to weaken US dollar with petroyuan as oil producers rally to Beijing, and Russia has ‘become an Asian nation,’ analyst says
7 reasons why global stocks are set to crush their US counterparts for the first time in 15 years, according to Bank of America
A 15-year-long trend of US stocks outperforming global peers is set to reverse in 2023, according to Bank of America.The bank expects international stocks to handily outperform US stocks as interest rates remain higher for longer.These are the seven reasons why BofA thinks investors should favor global stocks over the US in 2023. Loading Something… Continue reading 7 reasons why global stocks are set to crush their US counterparts for the first time in 15 years, according to Bank of America
Can crypto markets really get any worse? Industry experts say yes – and break down 3 worst-case scenarios for 2023
Last year was brutal for crypto markets, with the fallout of FTX, Celsius, and Three Arrows Capital. “Centralized lending and earn products are going the way of the dodo,” one exec said. Experts shared their 2023 outlooks and explained how things may get worse before they get better. Loading Something is loading. Thanks for signing… Continue reading Can crypto markets really get any worse? Industry experts say yes – and break down 3 worst-case scenarios for 2023
Warren Buffett injected $3 billion into General Electric during the financial crisis. Here’s a look back at how he helped the industrial giant.
Warren Buffett plowed $3 billion into General Electric at the height of the financial crisis. The investor received $3 billion in preferred stock paying a 10% dividend, plus stock warrants. Berkshire Hathaway made about a $1.5 billion profit. Buffett later said he could have made more. Loading Something is loading. Thanks for signing up! Access… Continue reading Warren Buffett injected $3 billion into General Electric during the financial crisis. Here’s a look back at how he helped the industrial giant.
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