Month: May 2022
SEC’s Hester Peirce says the U.S. has dropped the ball on crypto regulation
WASHINGTON — The U.S. has dropped the ball on crypto regulation, according to Securities and Exchange Commissioner Hester Peirce, and she says the knock-on effects of that failure keep her up at night. “There’s a lot of fraud in this space, because it’s the hot area of the moment,” Peirce told CNBC on the sidelines […]
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‘Make Russia pay for it’: Ukraine’s Kuleba on the massive cost of post-war reconstruction
The cost of Ukraine’s reconstruction after the country’s devastation by Russian forces will be colossal. Ukrainian officials have estimated it at a potential $600 billion, with some saying that is a modest figure and set to increase as the war drags on. International financial institutions have stressed the need for something like a Marshall Plan […]
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Terra backers vote to revive luna — but not UST — after $60 billion crypto collapse
The UST stablecoin plunged below its intended $1 peg in May, causing panic in the crypto market. Gabby Jones | Bloomberg | Getty Images Backers of Terra have approved a plan to revive the failed cryptocurrency venture — without the controversial stablecoin that helped trigger its stunning demise two weeks ago. “With overwhelming support, the […]
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Watch live: House grills FDA commissioner, Abbott executive on baby formula shortage
[The stream is slated to start at 11 a.m. ET. Please refresh the page if you do not see a player above at that time.] The head of the Food and Drug Administration and executives from the infant formula industry are set to answer questions from House lawmakers Wednesday about the nationwide shortage that has […]
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We have to accept in the West that we are going to be a bit poorer, Dutch leader says
Dutch Prime Minister Mark Rutte told CNBC that there is a “limit to what a government can do” to help people amid surging inflation. Pictured here, on February 23 2022, are containers being transported in the port of Rotterdam, in the Netherlands. Picture Alliance | Picture Alliance | Getty Images Dutch Prime Minister Mark Rutte […]
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Dick’s Sporting Goods shares sink after retailer cuts outlook for the year, joining broader retail trend
A Dick’s Sporting Goods store stands in Staten Island on March 09, 2022 in New York City. Spencer Platt | Getty Images Dick’s Sporting Goods on Wednesday reported results for its fiscal first quarter that topped Wall Street’s expectations, as shoppers spent money on golf clubs, soccer gear and athletic apparel from brands like Nike […]
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Mark Mobius says the bear market still has a ways to go, keep cash on the sidelines
Mark Mobius, founding partner of Mobius Capital Partners, says stocks have more room to fall in this bear market, so investors should stay in cash for now. “We’ve got a ways to go,” Mobius told CNBC’s “Squawk Box” on Tuesday. “It may be time to start nibbling at certain individual stocks that look good, but […]
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‘Kissinger still lives in the 20th century’: Ukraine hits back at suggestion it should cede land to Russia
A Ukrainian MP has given what he called a “polite” reply to former U.S. Secretary of State Henry Kissinger’s suggestion that Ukraine should be prepared to cede some territory to Moscow in order to reach a peace deal. “I think Mr. Kissinger still lives in the 20th century and we are in the 21st century […]
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Early Tesla investor DBL Partners leads $70 million investment in logistics firm Airspace
Matt Mawson | Corbis Documentary | Getty Images Time-critical logistics start-up Airspace, which originally broke into the market handling shipments for emergency situations including organ transplants and life-saving medications, has nearly doubled its funding in a new round of venture capital led by DBL Partners, an impact investing firm that was an early investor in […]
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Crypto firm Ripple will explore IPO after SEC lawsuit ends, CEO says
DAVOS, Switzerland — Ripple will explore the possibility of an initial public offering once its lawsuit with the U.S. Securities and Exchange Commission has ended, CEO Brad Garlinghouse told CNBC. The company uses XRP, the world’s sixth-largest cryptocurrency, to facilitate cross-border payments. Effectively, fiat is converted to XRP which lowers the cost and increases the […]
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