Monthly Archives: June 2023
3M reaches tentative $10.3 billion deal over U.S. ‘forever chemicals’ claims
(CNBC) 3M has reached a $10.3 billion settlement with a host of U.S. public water systems to resolve water pollution claims tied to “forever chemicals,” the chemical company announced on Thursday. The company said the settlement would provide the funds […]
Bitcoin rallies to touch highest level since April as traders get bullish on ETF news
(CNBC) Bitcoin hit its highest level since April on Wednesday, as traders got excited about the prospects of a spot bitcoin ETF following a series of recent applications from companies including BlackRock. The price of the flagship cryptocurrency touched a […]
Stock futures are flat on Thursday evening as Wall Street heads for losing week: Live updates
(CNBC) Stock futures were little changed in overnight trading Thursday as Wall Street headed for a losing week. Futures tied to the S&P 500 inched up by 0.05%, while Nasdaq-100 futures gained about 0.1%. Futures connected to the Dow Jones […]
Warren Buffett’s charitable giving exceeds $50 billion, more than his entire net worth in 2006
(CNBC)Warren Buffett has made another annual donation to five foundations, boosting his total charitable giving to more than $50 billion — significantly higher than his entire net worth in 2006 when he first scheduled the grants. The 92-year-old legendary investor said […]
Fed Chair Powell says smaller banks likely will be exempt from higher capital requirements
(CNBC) New rules expected to require that banks keep more capital almost certainly won’t apply to smaller institutions, Federal Reserve Chair Jerome Powell said Thursday. Addressing concerns over proposals to tighten the reins on bigger banks, Powell told members of […]
Virgin Galactic raises $300 million, seeks another $400 million to expand spacecraft fleet
(CNBC) Virgin Galactic has successfully raised $300 million via an “at the market” offering of common stock, the company disclosed in a securities filing Thursday. Now, the space tourism company aims to raise an additional $400 million through a subsequent […]
FTC sues Amazon over ‘deceptive’ Prime sign-up and cancellation process
(CNBC) The Federal Trade Commission on Wednesday sued Amazon, alleging the nation’s dominant online retailer intentionally duped millions of consumers into signing up for its mainstay Prime program and “sabotaged” their attempts to cancel. The agency claims Amazon violated the […]
Intel stock drops 6% as company updates chip manufacturing plans
(CNBC) Intel stock dropped 6% Wednesday after the company gave investors an update on the company’s turnaround plan to become a chip manufacturing company competing with Taiwan Semiconductor Manufacturing Company. To read this article:
Powell expects more Fed rate hikes ahead as inflation fight ‘has a long way to go’
(CNBC) Federal Reserve Chairman Jerome Powell on Wednesday affirmed that more interest rate increases are likely ahead until additional progress is made on bringing down inflation. Speaking a week after Federal Open Market Committee officials decided for the first time […]
Crypto firm Ripple gets in-principle payments license in Singapore
(CNBC) Blockchain company Ripple said Thursday it received in-principle regulatory approval to operate in Singapore, in a rare moment of good news for the cryptocurrency industry globally as it faces tightening policy back home in the United States. Ripple said […]
Google accuses Microsoft of unfair practices in Azure cloud unit
(CNBC) Google, which has spent years defending itself against claims of monopolistic behavior across the U.S. and Europe, is going public with its own complaint of anti-competitive practices by longtime rival Microsoft. In a letter to the Federal Trade Commission […]
Hedge funds positive in May but average returns fall
(Hedgeweek) Hedge funds delivered another month of positive performance in May, although performance dipped month-on-month, with a total weighted average return of 0.4%, according to the latest data from hedge fund administrator Citco. To read this article:
