Cryptocurrency prices surged at the end of the week on Friday, following news that the world’s largest asset manager is entering the race to launch the first spot bitcoin exchange-traded fund (ETF) in the United States. Bitcoin closed the day 3.75% higher at $26,355.04, according to CoinMetrics. Ether also saw a 3% increase, reaching $1,718.32. …
The World Bank stated on Tuesday that economic growth in the largest global economies will be severely hampered by higher interest rates and the aftermath of this year’s banking crisis. The institution projected that advanced economies such as the United States, Japan, and countries in the euro area will only grow by 0.7% in 2023, …
Herman Narula, the co-founder and CEO of Improbable, spoke at the Web Summit in Lisbon about the company’s plans for a network of metaverses. Improbable aims to create a network of virtual worlds that can accommodate thousands of users and compete with platforms like Meta and Microsoft. The company released a white paper introducing MSquared, …
During the Goldman Sachs Financial Services Conference in New York on December 6, 2022, CEO David Solomon announced that his bank will disclose markdowns on commercial real estate holdings as the industry faces challenges posed by higher interest rates. According to Solomon, Goldman Sachs will report impairments on loans and equity investments tied to commercial …
Every weekday at 10:20 a.m. ET, the CNBC Investing Club with Jim Cramer hosts a “Morning Meeting” livestream. Let’s take a look at the key moments from Thursday’s session: 1. Book profits on big winners: On Thursday, Wall Street saw a significant climb, with the Dow Jones Industrial Average gaining over 350 points or roughly …
Jaidev Janardana, CEO of peer-to-peer lender Zopa. Zopa LONDON — British digital bank Zopa is strengthening its management team with key hires to drive growth and prepare for a future public listing. The SoftBank-backed company, which offers credit cards, personal loans, and savings accounts, has exclusively informed CNBC of the appointment of Peter Donlon, former …
Shell gas station prices are displayed in Austin, Texas on May 30, 2023. Brandon Bell | Getty Images A New York Federal Reserve survey released on Monday indicates that consumers are becoming more optimistic about a decrease in inflation. The May edition of the central bank’s Survey of Consumer Expectations reveals a 0.3 percentage point …
CAVA, at the New York Stock Exchange during its initial public offering, June 14, 2023. Source: NYSE Discover the noteworthy companies making significant moves in the middle of the day. Cava Group — Shares experienced an impressive 91% surge during midday trading on its first day as a publicly traded company. Cava Group set its …
Zepz, the parent company of popular money transfer brands WorldRemit and Sendwave, is actively seeking mergers and acquisitions following a recent reduction in its workforce. The company’s CEO, Mark Lenhard, revealed to CNBC that Zepz, with a valuation of $5 billion and prominent investors like Accel, TCV, and Leapfrog, aims to expand its portfolio of …
WASHINGTON, DC – MAY 03: Federal Reserve Board Chairman Jerome Powell delivers remarks at a news conference following a Federal Open Market Committee meeting on May 3, 2023, in Washington, DC. The Federal Reserve announced a 0.25 percentage point interest rate increase, bringing the key federal funds rate to over 5%, a 16-year high. (Photo …