Markets

Apple is working to bring future fintech offerings in house, according to a Bloomberg report.The plan would result in Apple insourcing payment processing, risk assessment, and fraud analysis.Apple’s fintech partners traded lower following the report, including Goldman Sachs, Green Dot, and CoreCard. Loading Something is loading. Apple sees enough long-term potential in fintech that it’s… Continue reading Apple’s plan to expand in-house fintech sends current partners tumbling, including Goldman Sachs

Russia will use US dollars to meet its April 4 payment obligations to foreign bondholders, Bloomberg reported Wednesday.  The Finance Ministry earlier offered rubles to repay local investors of dollar-denominated bonds.  Russia is facing a deadline next week on a payment to a $2 billion bond.  Loading Something is loading. Russia will use US dollars… Continue reading Russia will use US dollars to pay foreign holders of a $2 billion bond, report says

Nintendo stock fell as much as 6% on Wednesday after the company delayed its Zelda sequel.The unnamed follow-up to “Breath of the Wild” was expected to be released on the Nintendo Switch later this year.The game has since been delayed until spring 2023 as Nintendo further develops the game. Loading Something is loading. Nintendo stock… Continue reading Nintendo falls 6% after it delays highly anticipated sequel to Zelda franchise until spring 2023

Restoration Hardware fell 13% on Wednesday after the company offered soft guidance for the quarter ahead.CEO Gary Friedman likened the uncertainty of today’s economy to a scene from the 2015 film The Big Short.”I couldn’t be more excited, but I can be more uncertain, and that’s just the story,” Friedman said. Loading Something is loading.… Continue reading Restoration Hardware falls 13% as furniture retailer reports mixed earnings results and CEO warns of ‘big short’ style economy

US stocks climb Tuesday following reports of progress in cease-fire talks between Russia and Ukraine.  Russia has said it will ‘drastically’ reduce military action around Kyiv and around Ukraine’s second-largest city.  Apple marked its longest win streak since 2003.  Loading Something is loading. US stocks finished with gains Tuesday with prospects of a cease-fire between… Continue reading US stocks rise as Russia-Ukraine peace talks boost investor sentiment

The 2-year and 10-year Treasury yields briefly inverted Tuesday for the first time since 2019. The flip is the latest warning after another part of the bond market briefly inverted Monday. Inversions have historically been predictors of sharp economic slowdowns in the US. Loading Something is loading. The US bond market flashed another key warning… Continue reading Recession warning flashes as 2- and 10-year yields invert for first time since 2019

A MicroStrategy unit has taken out a $205 million loan to buy more bitcoin, extending the company’s commitment to buy the cryptocurrency.  The three-year term loan is collateralized by about $820 million worth of bitcoin.  MicroStrategy’s bitcoin holdings were worth around $5.9 billion as of Tuesday.  Loading Something is loading. MicroStrategy is continuing to build… Continue reading MicroStrategy has borrowed $205 million to buy more bitcoin as CEO Michael Saylor remains committed to the cryptocurrency

The U.S. will hold anyone helping Russia to sidestep sanctions to account, an official told CNBC. “We will come, and we will find you,” the deputy U.S. Treasury secretary said Tuesday. European officials have warned Russia could use crypto to avoid restrictions imposed over its war with Ukraine. Loading Something is loading. The US will… Continue reading A US Treasury official has warned crypto exchanges that help Russia skirt sanctions: ‘We will come, and we will find you’