Monthly Archives: May 2023
Biden, McCarthy say U.S. won’t default as debt talks inch forward
(CNBC) Top leaders from both sides of the aisle reassured Americans on Wednesday that the U.S. won’t default on its debt as tense negotiations over the debt ceiling continued. “I think at the end of the day we do not […]
Target expects organized retail crime-fueled losses to jump by $500 million this year
(CNBC) Target said Wednesday that organized retail crime will fuel $500 million more in stolen and lost merchandise this year compared with a year ago. Target’s inventory loss, called shrink, totaled about $763 million last fiscal year, based on calculations […]
Goldman Sachs says A.I. could push S&P 500 profits up by 30% in the next decade
(CNBC) Goldman Sachs is bullish about artificial intelligence and believes the technology could help drive S&P 500 profits in the next 10 years. “Over the next 10 years, AI could increase productivity by 1.5% per year. And that could increase […]
CFTC and State Regulators in California and Hawaii Charge Los Angeles Area Precious Metals Dealer in Ongoing $61 Million Fraud Targeting the Elderly
(HedgeCo.Net) The Commodity Futures Trading Commission and state regulators in California and Hawaii have announced they have filed a joint civil enforcement action in the U.S. District Court for the Central District of California against a precious metals dealer, its […]
Stock futures are slightly higher as Wall Street focuses on debt ceiling negotiations: Live updates
(CNBC) Stock futures are modestly higher Tuesday night as investors awaited news of developments in the negotiations between congressional leaders and President Joe Biden on the U.S. debt ceiling. Futures tied to the Dow Jones Industrial Average added 25 points, […]
Elizabeth Holmes loses latest bid to avoid prison and gets hit with $452 million restitution bill
(CNBC) Disgraced Theranos CEO Elizabeth Holmes appears to be soon bound for prison after an appeals court Tuesday rejected her bid to remain free while she tries to overturn her conviction in a blood-testing hoax that brought her fleeting fame and fortune. […]
Bitcoin has a ‘real problem’ in the US, says Tudor Jones
(Hedgeweek) A double-whammy of falling inflation and an unfriendly regulatory environment in the US has lessened bitcoin’s appeal, according to Paul Tudor Jones, founder of the $12 billion hedge fund firm Tudor Investment Corporation. To read this article:
Retail sales rose 0.4% in April, less than expected as consumers struggle with inflation
(CNBC) Consumers barely kept up with inflation in April, as retail sales increased but fell short of expectations, the Commerce Department reported Tuesday. The advanced sales report showed an increase of 0.4%, below the Dow Jones estimate for 0.8%. Excluding […]
Hedge funds now most bearish on sterling since 2021
(Hedgeweek) Sterling’s recent rally, which has made it the best performing major currency in the developed world so far this year, may be nearing the end of its run as hedge funds are now cashing in on its 3%-plus gain […]
Big hedge funds buy Meta in Q1
(Hedgeweek) Arrowstreet Capital LLC, D1 Capital Partners and Coatue Management LLC were among the prominent hedge funds that acquired shares of Facebook parent Meta Platforms Inc during the first quarter of the year, according to a report by Reuters. To […]
SEC Charges Red Rock Secured, Three Executives in Fraud Scheme Targeting Retirement Accounts
(Hedgeco.Net) The Securities and Exchange Commission has announced charges against El Segundo, California-based Red Rock Secured LLC, its CEO, Sean Kelly, and two of its former Senior Account Executives, Anthony Spencer and Jeffrey Ward, in connection with a fraudulent scheme […]
Stock futures are little changed as traders await Tuesday debt ceiling negotiations: Live updates
(CNBC) U.S. stock futures were little changed on Monday evening, as all eyes on Wall Street turn to a Tuesday meeting between congressional leaders and President Joe Biden.Futures tied to the S&P 500 slipped 0.08%, while Nasdaq 100 futures inched […]