Markets
British pound plummets as Bank of England warns of recession risk
Sterling notes and coins are laid out Matt Cardy | Getty Images The British pound on Thursday was set for its largest daily drop since the onset of the coronavirus pandemic, after the Bank of England warned of a sharp growth slowdown in the U.K. economy. Sterling hit a low of 1.2393 against the dollar […]
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Bank of America has a favorite group of stocks to ride out the market turmoil
One sector offers investors “growth, defense and yield” at a reasonable price, analysts said. Source
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Luna Foundation Guard further bolsters stablecoin reserve by raising $1.5 billion in bitcoin
People walk through the North American Bitcoin Conference held at the James L Knight Center on January 18, 2022 in Miami, Florida. Joe Raedle | Getty Images The Luna Foundation Guard has acquired $1.5 billion in bitcoin to bolster the reserves of its most popular stablecoin, known as U.S. Terra. Stablecoins are cryptocurrencies that aim […]
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Bank of England chief defends cautious rate-hiking cycle, sees unprecedented shock to people’s income
Bank of England Governor Andrew Bailey. Simon Dawson | Bloomberg via Getty Images LONDON — Governor Andrew Bailey has sought to defend the Bank of England’s cautious approach to monetary tightening, saying policymakers are considering the wider picture of an inflation shock that the U.K. economy is now experiencing. The BOE may have completed its […]
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Binance is backing Elon Musk’s Twitter acquisition — here’s why it’s a big deal for crypto enthusiasts
Binance is the world’s largest crypto exchange, handling billions of dollars in trading volumes on a daily basis. STR | NurPhoto via Getty Images Bitcoin exchange Binance’s move to participate in Elon Musk’s $44 billion takeover of Twitter could boost digital currency evangelists’ hopes for the development of a more “decentralized,” crypto-friendly social media platform. […]
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SpaceX adds $25 monthly fee for users to temporarily change Starlink locations
Elon Musk’s SpaceX rolled out a $25 monthly fee this week for customers who seek to relocate their Starlink internet service satellite dishes. “Portability enables customers to temporarily move their Starlink to new locations and receive high-speed internet anywhere Starlink provides active coverage within the same continent,” SpaceX wrote in an email to customers on […]
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Nikola stock jumps as EV truck maker reports start to production and surprise Q1 revenue
Nikola Motor Company Source: Nikola Motor Company Electric heavy-truck maker Nikola said Thursday it shipped its first semitrucks to customers in April, and that it now has purchase orders and letters of intent for over 500 of its battery-electric Tre trucks. The company is also working with clients including Anheuser-Busch Inbev to complete a longer-range […]
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Elon Musk and Cathie Wood knock passive index investing, saying it’s gone too far
Cathie Wood, chief executive officer and chief investment officer, Ark Invest, gestures as she speaks during the Bitcoin 2022 Conference at Miami Beach Convention Center on April 7, 2022 in Miami, Florida. Marco Bello | Getty Images Elon Musk and Cathie Wood took aim at index funds in a Twitter thread, arguing that passive investments […]
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5 things to know before the stock market opens Thursday
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Wall Street set to drop after a strong Fed-driven relief rally A screen displays the Fed rate announcement as a trader works inside a post on the floor of the New York Stock Exchange (NYSE) in New […]
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Stocks making the biggest moves premarket: Twitter, SeaWorld, Shopify and more
Check out the companies making headlines before the bell: Twitter (TWTR) – Twitter rose 1.5% in premarket action after Elon Musk detailed $7.2 billion in financing commitments for his deal to buy the company. An SEC filing shows Oracle co-founder Larry Ellison and investor Ron Baron are among those committing funds. SeaWorld (SEAS) – The […]
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