Author: Press Room
Traders work on the floor at the New York Stock Exchange (Photo credit should read BRYAN R. … [+] SMITH/AFP via Getty Images)AFP via Getty Images It has been a great month for the stock market as the “bubble fear” is already emerging just ahead of the Thanksgiving holiday. In terms of the sector ETF, it has been quite a race in terms of performance as we approach the end of the month. After the close, we get the earnings from the top-performing stock of the year, NVIDIA NVDA DIA Corp (NVDA). The high so far this week was $505.48…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Nvidia forecast higher than expected sales for its current quarter as the semiconductor designer said it expected strong growth in most regions to offset a “significant” drop in sales to China because of recently tightened AI chip rules.The US group reported record revenues of $18.1bn for the three months to the end of October, up 206 per cent year on year as it continued to ride demand for its high-performance artificial intelligence chips.In a note to investors, chief financial officer Colette Kress…
© Reuters. Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. To match Special Report FINTECH-CRYPTO/BINANCE-ZHAO REUTERS/Tom Wilson/File Photo (Reuters) – Binance chief Changpeng Zhao stepped down and pleaded guilty to breaking criminal U.S. anti-money laundering laws as part of a $4.3 billion settlement resolving a years-long probe into the world’s largest crypto exchange, prosecutors said on Tuesday. The agreement will resolve criminal charges that Binance conducted an unlicensed money transmitter business, conspiracy and breaching sanctions regulations, the U.S. Department of Justice said. Some of the charges, which…
© Reuters. FILE PHOTO: Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo By Chris Prentice, David Lawder and Jonathan Stempel NEW YORK (Reuters) -Binance chief Changpeng Zhao stepped down and pleaded guilty to breaking U.S. anti-money laundering laws as part of a $4.3 billion settlement resolving a years-long probe into the world’s largest crypto exchange, prosecutors said on Tuesday. The deal, which will see Zhao personally pay $50 million, was described by prosecutors as one of the largest corporate penalties in U.S. history. It…
Notable earnings after Wednesday's close
© Reuters. The euro fell sharply against the British pound on Tuesday, trading near a low of 0.8700 after officials from the Bank of England delivered hawkish remarks during a UK Parliament testimony. The central bank’s unified policy stance against persistent inflation and warnings about increasing inflation pressures in the coming years contributed to the currency movement. Looking ahead, market participants are eyeing upcoming economic indicators with a slight improvement expected in EU Consumer Confidence, which is forecasted to rise from -17.9 to -17.6. This comes ahead of significant Purchasing Managers’ Index (PMI) releases, where anticipation is building for both…
New York City Mayor Eric Adams said on Monday that Washington D.C. “has abandoned us” in regards to the ongoing migrant crisis the city and other parts of the country are facing — days after he announced stinging budget cuts to education and policing due to the crisis.”D.C. has abandoned us, and they need to be paying their cost to this national problem,” Adams said during a town hall in Brooklyn, according to Politico.The “sanctuary” city has seen over 130,000 migrants come into the city since last year, a relatively small number of which have been bussed in via Texas. NEW…
But Zhao’s journey at Binance has been far from smooth sailing — the company has been embroiled in several controversies. Changpeng Zhao, founder of Binance. REUTERS/Darrin Zammit Lupi In October, some $570 million worth of cryptocurrency traded on Binance was stolen in a blockchain hack, according to the New York Times. Zhao told CNBC in an October interview that no users had lost money in the attack, and that “software code is never bug free.” The Binance hack is one of the biggest cryptocurrency hacks of all time.Binance said in a blog post that in the event of a hack…
Black Friday and Cyber Monday unofficially start the holiday shopping rush. Are you thinking of what to buy your loved ones? Why not consider the gift of financial literacy? In a world of ever-present economic challenges, equipping your family and friends with the knowledge to manage their finances can be a profound and lasting gesture. Here are some thoughtful gifts ideas that empower recipients with essential financial skills and knowledge: Board Games Among the myriad options available, certain games stand out for their ability to blend fun with fundamental financial lessons. Monopoly, a classic favorite, offers a dynamic introduction to…
Stay informed with free updatesSimply sign up to the Private equity myFT Digest — delivered directly to your inbox.Private equity groups led by Permira and Blackstone have offered to take Norwegian online classifieds company Adevinta private, in a €14bn proposed deal that would rank as the second-biggest leveraged buyout this year. The offer price of NKr115 per share is more than 50 per cent above Adevinta’s average share price over the three months before reports of a possible deal emerged in September. It values the company at about €14bn including debt, the company said on Tuesday.Oslo-listed Adevinta’s board did not formally…