Crypto bulls have long championed bitcoin as a modern-day replacement for gold, and by one measure, the new market is already close to surpassing bullion in that respect. The total value of the cryptocurrency market now stands above $2 trillion, putting it on nearly equal footing with the amount of gold held for private investment […] Read more
Following the booming profit beats of its Wall Street rivals, Credit Suisse is expected to report a significant loss on Thursday as it navigates the fallout from two high-profile crises. The Swiss lender announced earlier this month that it took a $4.7 billion hit from the meltdown of U.S. family hedge fund Archegos Capital and now expects a […] Read more
Dogecoin started out as a joke. Now it’s a top 10 digital currency worth $40 billion. The cryptocurrency is based on the “Doge” meme, which rose to popularity in late 2013. The meme portrays a Shiba Inu dog alongside nonsensical phrases in multicolored, Comic Sans-font text. Created in 2013 by software engineers Billy Markus and Jackson […] Read more
U.S. stocks climbed to record levels on Thursday after key companies reported strong earnings and fresh economic data pointed to a rebound in consumer spending and the jobs market. The Dow Jones Industrial Average rose 300 points to hit an all-time high, topping 34,000 for the first time ever. The S&P 500 gained 1.1%, also […] Read more
More than two dozen states took steps Tuesday to halt inoculations with Johnson & Johnson’s coronavirus vaccine, shortly after the Food and Drug Administration recommended to pause its use after reports some women developed a rare blood clotting disorder. The states, like the FDA and the Centers for Disease Control and Prevention, stressed that they were acting […] Read more
China — The value of the cryptocurrency market topped $2 trillion for the first time on Monday driven by a rally in ether, the second-largest digital coin. In just over two months, the market capitalization of the cryptocurrency market has doubled, according to price tracking website CoinGecko, as retail and institutional investors pile into the space. […] Read more
Turkey’s lira fell dramatically on Monday morning after President Recep Tayyip Erdogan fired the country’s central bank chief — the third to be fired in two years — sending shockwaves through the investor community. The currency plunged more than 16% in early morning Asian trading, according to analysts, hitting 8.4 against the dollar compared to […] Read more
Nike posted mixed quarterly results on Thursday, as sales fell short, hurt by U.S. port congestion, which led to inventory delays, and stores faced temporary closures in Europe. Its shares were down around 1% in after-hours trading. Here’s how Nike did during the quarter ended Feb. 28, compared with what analysts were expecting, based on a […] Read more
The U.S. House of Representatives passed a law to kick Chinese companies off U.S. stock exchanges if they do not fully comply with the country’s auditing rules, giving President Donald Trump one more tool to threaten Beijing with before leaving office. The measure passed the House by unanimous voice vote, after passing the Senate unanimously […] Read more
Data giant S&P Global has agreed to buy IHS Markit in a deal worth $44 billion that will be 2020′s biggest merger, creating a heavyweight in the increasingly competitive market in financial information. The mega-deal, which includes $4.8 billion of debt, is a sign that deal-making activity is accelerating as breakthroughs in developing Covid-19 vaccines improve the economic outlook. […] Read more
