Month: July 2022
Mike Novogratz says most of the crypto carnage is done, but prices could be stuck for a while
Galaxy Digital CEO Mike Novogratz said crypto doesn’t have much further to fall, but it could remain in choppy sideways trading before new capital enters the space. Cryptocurrency prices have been tumbling all year with other risk assets as the Federal Reserve began raising interest rates to fight persistently high inflation. The price of bitcoin […]
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Donald Trump left the board of his social media company weeks before federal subpoenas
The Truth social network logo is seen on a smartphone in front of a display of former U.S. President Donald Trump in this picture illustration taken February 21, 2022. Dado Ruvic | Reuters Former president Donald Trump left the board of his social media company just weeks before it was issued subpoenas by the Securities […]
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Trump foes James Comey and Andrew McCabe were reportedly subjected to rare and rigorous IRS audits
Andrew McCabe, left, and James Comey. Getty Images Former FBI Director James Comey and former FBI Deputy Director Andrew McCabe were subjected to rare and rigorous IRS audits of their 2017 and 2019 returns, respectively, according to letters from the IRS both men provided to The New York Times. Comey was informed of the audit in 2019, while […]
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Goldman slashes GDP forecast for the second quarter to just barely above water
A Goldman Sachs Group Inc. logo hangs on the floor of the New York Stock Exchange in New York, U.S., on Wednesday, May 19, 2010. Daniel Acker | Bloomberg | Getty Images Amid heightened concerns that a recession is looming, Goldman Sachs economists expect that the U.S. economy barely grew in the second quarter. The […]
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RBC downgrades Boston Beer, cuts price target on waning popularity of Truly hard seltzer
Boston Beer has “too much to overcome” for now as the popularity of hard seltzer fizzles out, and as it fails to innovate on new products, according to RBC Capital Markets. Analyst Nik Modi downgraded shares of Boston Beer to sector perform from outperform, saying in a Thursday note that weak sales of its hard […]
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Meta nudges its big VR push another step away from the Facebook legacy
Mark Zuckerberg, chief executive officer of Facebook Inc., speaks during the virtual Facebook Connect event, where the company announced its rebranding as Meta, in New York, U.S., on Thursday, Oct. 28, 2021. Michael Nagle | Bloomberg | Getty Images Meta is introducing a new way for people to log in to virtual reality headsets without […]
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Analyst Mark Mahaney sees more trouble ahead for internet stocks, but has some top picks
Internet stocks took a heavy blow during the first half of 2022 as rising inflation spooked investors away from the growth sector, which is among those most sensitive to rising interest rates. Further pain is ahead as the economy shows signs of softening consumer demand, but some stocks may weather the storm better than others, […]
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Florida Gov. Ron DeSantis plans Utah fundraiser with GOP megadonors, signaling possible presidential run
Florida Gov. Ron DeSantis speaks during the welcome segment of the Conservative Political Action Conference (CPAC) in Orlando, Florida, February 26, 2021. Joe Skipper | Reuters Florida Gov. Ron DeSantis is planning a private fundraiser in Utah later this month that is expected to draw some of the country’s wealthiest Republican donors as he signals […]
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European markets close 2% higher; UK’s Johnson resigns as prime minister
LONDON — European stocks closed sharply higher on Thursday, building on gains in the previous session. The pan-European Stoxx 600 provisionally closed up 2%, with mining stocks jumping 5.6% to lead gains while food and beverages stocks dropped 0.1%. In terms of individual share price movement, Danish shipping giant Maersk climbed 7.1% on the back […]
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Sacha Baron Cohen beats ex-judge Roy Moore’s defamation appeal
Sacha Baron Cohen attends a screening of the Oscars on April 26, 2021 in Sydney, Australia. Rick Rycroft | Getty Images Sacha Baron Cohen on Thursday defeated an appeal by former Alabama judge Roy Moore accusing the British comedian of defamation for falsely portraying him as a pedophile in an interview for the show “Who […]
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