Combination showing Sam Altman, CEO of OpenAI (L), Ursula von der Leyen, President of the European Commission (C), and Javier Milei, President of Argentina (R). Reuters The global elite are pulling on their snow boots and firing up their private jets for the World Economic Forum in Davos, Switzerland. The 2024 WEF, titled “Rebuilding Trust,” … Read more
Apple received yet another downgrade this week, the latest in a stream of cautious calls for the world’s largest company. It could present an opportunity for new investors. Redburn Atlantic analysts on Wednesday cut Apple shares to hold from buy , citing limited multiple expansion opportunities and narrow upside in iPhone sales. And Redburn is … Read more
Jane Fraser CEO, Citi, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, May 1, 2023. Mike Blake | Reuters Citigroup warned investors late Wednesday that charges tied to the decline of the Argentine peso as well as the bank’s reorganization came in far higher than disclosed by the company’s CFO just … Read more
Omar Marques | Lightrocket | Getty Images Bitcoin hovered around the flat line higher late Wednesday after the Securities and Exchange Commission gave the green light for the first-ever spot bitcoin ETFs to trade in the U.S., as expected. The cryptocurrency trimmed earlier losses and was last trading flat at $46,671.22, according to Coin Metrics. … Read more
The U.S. Securities and Exchange Commission on Wednesday approved rule changes to allow the creation of bitcoin exchange-traded funds in the U.S., a long-awaited move that will give regular investors access to the controversial and volatile cryptocurrency. The decision will likely lead to the conversion of the Grayscale Bitcoin Trust, which holds about $29 billion … Read more
Christian Klein, CEO of the software company SAP, stands on the podium looking at his cell phone before the start of the company’s Annual General Meeting. Uwe Anspach | Picture Alliance | Getty Images SAP, the $192 billion German enterprise tech company, will pay more than $220 million to settle investigations into worldwide “recidivist” foreign … Read more
People carry shopping bags as they visit a department store during the holiday season in New York City. Eduardo Munoz | Reuters Retailers chalked up solid gains in the final month to wrap up the holiday season, according to the CNBC/NRF Retail Monitor for December. However, the data also shows the true state of consumer … Read more
Nurphoto | Nurphoto | Getty Images Bitcoin and other cryptocurrencies dawdled as investors awaited the official SEC approval on spot bitcoin ETFs, a day after the regulator’s X.com account posted a false announcement on the highly anticipated news. The price of bitcoin fell more than 3% Wednesday, extending losses from the previous day, to $45,228.19, … Read more
A bull and a bear statue stand outside the Frankfurt Stock Exchange in Frankfurt. Ralph Orlowski | Bloomberg | Getty Images After a choppy 2023, economists believe that the European economy is set for a transitional year, as major headwinds — high inflation and rising interest rates — fade into the rearview mirror. Despite the … Read more
Omar Marques | Lightrocket | Getty Images The U.S. Securities and Exchange Commission said Tuesday afternoon that an announcement about bitcoin exchange-traded funds on social media was incorrect. “The SEC’s @SECGov X/Twitter account has been compromised. The unauthorized tweet regarding bitcoin ETFs was not made by the SEC or its staff,” an SEC spokesperson told … Read more
