Bond Yields Drop as Job Growth Slows
After the April jobs data revealed weaker-than-expected payroll growth and an unexpected tick higher in the unemployment rate, U.S. Treasury rates fell on Friday.
May 06, 2024 04:18 PM EDT
Will Apple Keep Buffett Smiling? Doubts Emerge Over Company's Dominance
Even as late as 2020, four years after his investment colossus began to build a sizable stake in the business that produces iPhones, Warren Buffett of Berkshire Hathaway was still using a flip phone.
Is China's Central Bank Gold-Buying Spree a Precursor for War? Part II of II
The idea of a nation acquiring large gold reserves in preparation for military endeavors is not without historical precedent. Prior to World War I, European powers increased their gold reserves, and a century later, Russia's central bank doubled its gold holdings in the years before its invasion of Ukraine. This same strategic stockpiling of gold could be inferred from China and its pre-war positioning for a Taiwan incursion.
Regulatory Hurdles Remain Despite Cannabis Reclassification
Tuesday afternoon saw a spike in cannabis stocks due to reports that the Biden administration might reclassify the substance as less harmful. T
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Sam Altman Makes Stunning Return to OpenAI Helm After Brief Ouster
The former CEO of ChatGPT creator OpenAI will return to the business that dismissed him just days ago.
Nov 22, 2023 08:00 PM EST
Temasek Issues Alert Over Imposter Agents in China Shilling Bogus Investments
Temasek Holdings, a Singaporean company, issued a warning about potential scams involving the sale of financial instruments or goods to naïve people under the guise of the company's Shenzhen, China, office.
Nov 22, 2023 05:16 PM EST
Binance CEO's Guilty Plea and $4 Billion Fine Signal Crackdown on Crypto Money Laundering
Zhao resigned as the CEO of the business, and Binance acknowledged breaking the Bank Secrecy Act as well as possibly breaking sanctions laws by failing to set up procedures for reporting suspicious transactions.
Nov 22, 2023 08:00 AM EST
UniCredit Merger with Amundi Faces Uncertainty as Amundi Considers Better Terms
Amundi is considering providing UniCredit better conditions in order to renew a distribution agreement that binds the French asset management to the Italian bank and its largest international market.
Nov 21, 2023 10:17 PM EST
SMBC Places Massive Order for 60 Airbus A320neo Planes
The second-largest aircraft leasing company in the world, SMBC Aviation Capital, said on Tuesday that it has placed an order for 60 Airbus A320neo family aircraft, without providing any financial information about the transaction.
Nov 21, 2023 07:00 AM EST
From Triumph to Turmoil: OpenAI's Dramatic Weekend of CEO Ouster and Microsoft Hire
The revelation that four members of the company's board had fired CEO Sam Altman startled the IT industry on Friday.
Nov 21, 2023 06:18 AM EST
Microsoft Hires ChatGPT Creator OpenAI's Ousted CEO, Fueling Tensions at the AI
The business that built ChatGPT was thrown into disarray Monday after Microsoft recruited its dismissed CEO and several staff vowed to join him in a disagreement over how to construct artificial intelligence smarter than humans.
Nov 20, 2023 08:41 PM EST
Thanksgiving Feast Costs Ebb and Flow, Still Above Average in 2023
You may thank the turkey for saving money on your Thanksgiving feast preparation this year.
Nov 19, 2023 09:48 AM EST
Citigroup Set to Announce Management Changes and Layoffs on Monday
Citigroup workers may anticipate announcements regarding management changes and layoffs on Monday as part of the bank's extensive restructuring.
Nov 18, 2023 06:25 AM EST
US Funds Shift Focus Away from China, Offloading Alibaba, Apple
Major U.S. funds are taking a more defensive stance in the face of uncertainty in the second-largest economy in the world by cutting holdings that expose them to China and concentrating more on American technology companies.
Nov 17, 2023 11:10 AM EST
EU Plans to Tighten Scrutiny of Banks' Loan Provisioning Standards
The EU's banking watchdog warned on Friday that banks would face challenges from regulators for their improper use of an accounting regulation.
Nov 17, 2023 10:30 AM EST
Burberry's Luxury Charm Wanes as Shares Sink 9% Reflecting Spending Slowdown
As a result of the British luxury apparel retailer Burberry's warning that full-year operating profit will come in at the low end of estimates due to a global slowdown in luxury spending, the company's shares fell 9% on Thursday.
Nov 17, 2023 09:50 AM EST
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