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Nearly $109 million in deposits held for fintech Yotta’s customers vanished in Synapse collapse, bank says

Despite mounting pressure to unfreeze all locked bank accounts in the Synapse collapse, messy records have created uncertainty over when that will happen.

  • 22.06.2024

Regulators hit Citigroup, JPMorgan Chase, Goldman Sachs and Bank of America over living will plans

The living wills are a key Federal Reserve and FDIC exercise mandated in the aftermath of the 2008 global financial crisis.

  • 21.06.2024

The stock market is in its longest stretch without a 2% sell-off since the financial crisis

Wall Street's rise to record highs has come with very little volatility.

  • 21.06.2024

China has spent at least $230 billion to build its EV industry, new study finds

China spent $230.8 billion over more than a decade to develop its electric car industry, according to the Center for Strategic and International Studies.

  • 21.06.2024

China talks up support for IPOs. Investors are watching the speed of approval

Chinese authorities this week announced new policy for supporting venture capital, raising hopes for faster approvals of initial public offerings.

  • 21.06.2024

How investors can stay protected with emerging market opportunities

BNY's global head of ETFs warns that investors should account for changing currency levels when investing internationally.

  • 20.06.2024

Super Micro, Dell shares jump as Elon Musk calls them suppliers to xAI supercomputer project

"Dell is assembling half of the racks that are going into the supercomputer that xAI is building," Musk said, adding that Super Micro will also be involved.

  • 20.06.2024

More states expected to roll out Inflation Reduction Act energy-efficiency rebates this summer

New York was the first state to launch a consumer rebate program created by the Inflation Reduction Act.

  • 20.06.2024

Fitch pushes back China rate cut expectations to next year as Fed holds interest rates steady

Fitch now forecasts China will keep its one-year medium-term lending facility (MLF) unchanged this year at 2.5%, and cut it to 2.25% next year.

  • 19.06.2024

Klarna rival Zilch raises $125 million with aim to triple sales and accelerate path to IPO

British fintech firm Zilch says it's raised $125 million in debt from Deutsche Bank to help it further its path toward an eventual initial public offering.

  • 19.06.2024

Steve Cohen is set to make a big push into investing in AI

Steve Cohen's Point72 plans to launch a separate, artificial intelligence-focused hedge fund to capitalize on the boom.

  • 18.06.2024

American households have seen their purchasing power increase

Wage growth has surpassed inflation for a year, meaning households have seen their buying power increase.

  • 18.06.2024

Sen. Warren warns Powell against weakening banking regulations: ‘Do your job’

Bank CEOs have said the Basel III Endgame capital increases are unnecessarily aggressive and would force the industry to curtail lending.

  • 18.06.2024

Warren Buffett buys Occidental shares for 9 straight days, pushes his stake to nearly 29%

The Omaha, Nebraska-based conglomerate purchased Occidental shares every trading day from June 5 to Monday.

  • 18.06.2024

Google's Android apps are coming in 3D via Xreal as competition with Apple's Vision Pro heats up

Games and movies on Google Play Store apps can now be viewed in 3D via a new Android mobile device from augmented reality glasses maker Xreal, the startup said.

  • 18.06.2024

GameStop closes more than 12% lower after annual meeting fails to offer details on firm's strategy

The meme stock fell about 12% as its rescheduled shareholder event wrapped up with no detailed remarks about the company's strategies.

  • 17.06.2024

Activist Starboard amasses Autodesk stake, weighs suit over delayed probe disclosure

Autodesk has been under deep scrutiny over an accounting scandal that led to the resignation of its CFO over potentially inflated financial metrics.

  • 17.06.2024

Warren Buffett’s Berkshire Hathaway trims its stake in Chinese EV maker BYD to 6.9%

Warren Buffett's conglomerate has sold an additional 1.3 million Hong Kong-listed shares of BYD for $39.8 million, according to a filing.

  • 17.06.2024

This ETF strategy may help investors skirt market concentration risk

A top exchange-traded fund provider is screening diversified value stocks for long-term gains.

  • 15.06.2024

Roaring Kitty's GameStop stake grows to 9 million shares after selling his big options position

Keith Gill posted a new screenshot of his E-Trade portfolio after the bell Thursday showing that he is now holding more than 9 million GameStop shares.

  • 14.06.2024

This fintech configures expense cards to block misuse — and investors just backed it with millions

Irish fintech CleverCards uses a digital platform linked to configurable expense cards to give companies control over how employees use their corporate cards.

  • 14.06.2024

Robotics startup cofounded by Synapse CEO is raising funds with exaggerated claims about GM ties

Foundation was started in April by Synapse CEO Sankaet Pathak, Tribe Capital CEO Arjun Sethi, and LeBlanc, cofounder of Cobalt Robotics.

  • 13.06.2024

Fintech has hit a bottom after plunge in valuations and squeeze on funding, execs and VCs say

"Investors are now in the AI mindset," the CEO of Nium told CNBC. "Like, whatever it costs. I want in on AI. They're going to burn a lot of money."

  • 13.06.2024

GameStop tanks with huge volume in the call options owned by ‘Roaring Kitty’

The sell-off in GameStop shares intensified in afternoon trading, coinciding with a spike in trading volume in the call options that "Roaring Kitty" owned.

  • 12.06.2024

Here's what changed in the new Fed statement

This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the Fed's previous policymaking meeting.

  • 12.06.2024

Fed holds rates steady, indicates only one cut coming this year

The Federal Reserve on Wednesday released its decision on interest rates following this week's policy meeting.

  • 12.06.2024

Here's the Fed's new rate forecast that's moving the markets

The Federal Reserve on Wednesday projected only one rate cut for the remainder of 2024, down from its March forecast that called for three reductions.

  • 12.06.2024

Keith Gill has some tough choices to make on his GameStop options with Wall Street ready to pounce

Roaring Kitty might be pondering on what to do with his massive options position against GameStop and he could have some tough choices to make.

  • 12.06.2024

GameStop raises more than $2 billion by selling 75 million shares, capitalizing on meme frenzy

The retailer announced it completed an at-the-market equity offering, selling the maximum number of 75 million shares to raise proceeds of $2.14 billion.

  • 12.06.2024

More than $1 billion in EV tax credits issued upfront to buyers, Treasury and IRS say

Federal officials said the Biden administration hit a key milestone in its push to make it easier for consumers to buy an electric vehicle.

  • 12.06.2024