World
Coinbase shares fall after rival Binance.US drops spot bitcoin trading fees
Monitors display Coinbase signage during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S., on Wednesday, April 14, 2021. Michael Nagle | Bloomberg | Getty Images Coinbase shares fell almost 10% on Wednesday after rival crypto exchange Binance.US said it’s dropping certain trading fees for customers. Binance.US, the U.S. affiliate […]
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Amazon demonstrates Alexa mimicking the voice of a deceased relative
Amazon is devising a way for users to speak to their family members through its Alexa voice assistant, even after they’ve died. At Amazon’s Re:Mars conference in Las Vegas on Wednesday, Rohit Prasad, senior vice president and head scientist for the Alexa team, detailed a feature that allows the voice assistant to replicate a specific […]
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Cliff Asness says value stocks are still crazy cheap relative to growth. Here are his top picks
Cliff Asness, co-founder of AQR Capital Management, believes value stocks are still a lot more attractive than their growth counterparts, even after a big market correction. “We’re sticking with it [value] because we always like some value in the portfolio. And we do like more when it looks very, very cheap,” Asness said on CNBC’s […]
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Morgan Stanley’s Jonas cuts Tesla price target, warns cars deliveries may fall short
Morgan Stanley’s widely followed Adam Jonas slashed his price target on Tesla as he lowered an estimate for second quarter deliveries. “We mark to market our 2Q forecasts for lower volume (latest data, China) with most of the shortfall made up for in 2H volume and higher pricing,” Jonas said in a Wednesday afternoon note. […]
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Biden calls on Congress to suspend the gas tax — Here’s what that means for prices at the pump
President Joe Biden called on Congress Wednesday to temporarily suspend the federal gas tax, as he tries to quell the rapid surge in prices at the pump. While experts say a suspension could provide some immediate relief, it could also keep demand elevated, thereby exacerbating tight supply. Consumers are getting hit with higher prices everywhere, […]
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These stocks are insulated from a recession, Morgan Stanley says
Some companies should still be able to grow earnings even if the U.S. economy falls into a recession, according to Morgan Stanley. Mike Wilson, the firm’s chief equity strategist, said in a note to clients Tuesday that the market has not priced in a recession and that analyst estimates for corporate earnings will need to […]
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Bitcoin billionaire Sam Bankman-Fried bails out embattled crypto firms BlockFi and Voyager
With no central bank willing to come to the rescue, beleaguered crypto companies are turning to their peers for help. Billionaire crypto exchange boss Sam Bankman-Fried has signed deals to bail out two firms in as many weeks: BlockFi, a quasi-bank, and Voyager Digital, a digital asset brokerage. FTX, Bankman-Fried’s crypto exchange, agreed Tuesday to […]
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National incident declared after UK health officials detect polio virus in London sewage samples
U.K. health authorities have said they are “urgently” investigating a rare poliovirus discovery in sewage samples in London. Picture Alliance | Getty Images U.K. health authorities have said they are urgently investigating a rare polio virus discovery in sewage samples in London, potentially putting Britain’s polio-free status at risk for the first time in almost […]
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Powell tells Congress the Fed is ‘strongly committed’ to bringing down inflation
Jerome Powell, chairman of the US Federal Reserve, arrives to a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., U.S., on Wednesday, June 22, 2022. Ting Shen | Bloomberg | Getty Images Federal Reserve Chairman Jerome Powell told congressional lawmakers Wednesday that the central bank is determined to bring down inflation and […]
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Canada inflation rate gallops to near 40-year high, calls for supersized rate hike mount
The Bank of Canada raised interest rates to 1.5% from 1.0% this month and said it was ready to act “more forcefully” if needed to tame inflation. David Kawai | Bloomberg via Getty Images Canadian consumer prices increased in May at rates not seen since January 1983, surging past analyst forecasts, largely driven by pricey […]
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