Day: October 7, 2024
Wall Street giants like Goldman quickly up their bets on Chinese markets amid stimulus promises
Goldman Sachs is the latest in a flurry of calls to upgrade China stocks after the Asian giant’s recent wave of stimulus measures. The Wall Street bank raised its call on China stocks to an overweight rating in an Oct. 5 note, adding that this market is set to soar further. Goldman predicts that Chinese […]
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Chinese travelers trickle back to a Taiwanese island, mere miles from the mainland
Remnants of military conflict surround Zhang Zhong Jie’s cafe. The coffee shop sits within an abandoned military fortification, its entrance surrounded by rusting tanks. It’s a scene the citizens of Taiwan’s remote Kinmen Island know well. All that separates the cafe from mainland China are 6 miles of choppy water and a row of anti-invasion […]
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Foxconn chairman says AI investment boom ‘still has some time to go’ as language models evolve
Chairman of Foxconn Young Liu delivers a speech during the Hon Hai Tech Day in Taipei on Oct. 18, 2023. I-hwa Cheng | AFP | Getty Images The boom in corporate investment into artificial intelligence infrastructure still has some way to go as large language models are continuing to evolve, according to the CEO of […]
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Shares of generator maker Generac soar, insurance stocks fall as Hurricane Milton intensifies
A worker unloads a 24-kilowatt Generac home generator off a truck at Captain Electric in Orem, Utah, on Feb. 18, 2021. George Frey | Getty Images Shares of backup power generation company Generac Holdings surged more than 8% on Monday as Hurricane Milton rapidly strengthened into a Category 5 storm. Hurricane Milton is forecast to […]
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Trump’s Mar-a-Lago, golf resorts are outside Milton’s path. But Truth Social’s offices are at risk
An aerial view of former U.S. President Donald Trump’s Mar-a-Lago home after Trump said that FBI agents raided it, in Palm Beach, Florida, U.S. August 15, 2022. Marco Bello | Reuters Former President Donald Trump’s marquee Florida properties, including his Mar-a-Lago Club and various golf resorts lie outside the anticipated path of Hurricane Milton, the […]
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S&P 500 futures are little changed after stocks pull back to start new week: Live updates
Traders work on the floor of the New York Stock Exchange during morning trading on September 23, 2024 in New York City. Michael M. Santiago | Getty Images Stock futures are modestly higher on Monday night, following a losing day on Wall Street as rising oil prices and bond yields weighed on markets. Dow Jones […]
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FTX bankruptcy judge approves more than $14 billion payback plan two years after exchange collapsed
Nearly two years after FTX spiraled into bankruptcy, a Delaware judge approved the company’s reorganization plan, which involves paying out more than $14 billion to customers of the collapsed cryptocurrency exchange. “Looking ahead, we are poised to return 100% of bankruptcy claim amounts plus interest for non-governmental creditors through what will be the largest and most complex bankruptcy estate asset […]
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Goldman lowers recession odds to just 15%
After more than two years of collective hand-wringing on Wall Street over the possibility that the U.S. economy could tank at a moment’s notice, Goldman Sachs has news: There is no better chance now of a recession than there is under any other normal circumstances. The bank’s economists over the weekend lowered their recession probability […]
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Coinbase is delisting some stablecoins in Europe this year. Here’s what it could mean for the crypto stock
Coinbase’s move to delist some stablecoins this year could help the company’s bottom line, according to one analyst. The crypto exchange operator said Friday it will delist stablecoins in Europe that are not compliant with requirements of the Markets in Crypto-Assets regulation, the celebrated European Union crypto law that will fully take effect Dec. 30. […]
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Crypto relationship scams pose ‘catastrophic harm,’ SEC official says. Here’s how to avoid them
Key Points Crypto relationship scams have become a common type of investment fraud tied to cryptocurrency like bitcoin and ethereum. Criminals use social media, networking and other sites like Instagram, WhatsApp and LinkedIn to build trust and entice people to buy fake crypto investments, federal officials said. Source
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