The Securities and Exchange Commission’s approval of 11 spot bitcoin ETFs this week could be a turning point for cryptocurrency investing. Ark Invest CEO and Chief Investment Officer Cathie Wood is behind one of the new ETFs. Her firm has partnered with 21Shares to launch the ARK 21Shares Bitcoin ETF. “We really believe this is … Read more
Wells Fargo reported better-than-expected quarterly results ahead of Friday’s opening bell. We were also pleased to see that by the end of 2023, management has officially delivered on its multi-year cost savings program of $10 billion. But shares came under pressure due to a weaker-than-expected outlook. Total revenue for the three months ended Dec. 30 … Read more
Billionaire hedge fund Bill Ackman, who recently fought a high-profile battle against Harvard University, said Friday he is launching an activist organization to fight anti-Semitism and reform higher education. “It will be a think and do tank. He’s going to be an activist,” Ackman said in an interview with CNBC’s Andrew Ross Sorkin on “Squawk … Read more
Check out the companies that made headlines in pre-market trading. Tesla — Shares of the electric car maker fell more than 3% in premarket trading after Tesla cut prices of both the Model 3 and Model Y in China a day earlier. Tesla also said its Berlin manufacturing plant will face outages due to shipping … Read more
Citigroup CEO Jane Fraser attends a hearing on the annual oversight of Wall Street firms before the Senate Banking, Housing and Urban Affairs Committee on December 6, 2023 in Washington, DC, US. Tom Williams | Cq-roll Call, Inc. | Getty Images Citigroup reported fourth-quarter results before Friday’s opening bell. Here’s what the company announced compared … Read more
Bank of America Chairman and CEO Brian Thomas Moynihan speaks during a U.S. Senate Banking, Housing and Urban Affairs Committee hearing on Wall Street firms on Capitol Hill in Washington, U.S., December 6, 2023. Evelyn Hockstein | Reuters American bank reported fourth-quarter results before Friday’s opening bell. Here’s what the company announced compared to what … Read more
Larry Fink, CEO of BlackRock Inc., gestures during a speech at the Handelsblatt Banking Summit in Frankfurt, Germany, on Wednesday. 4, 2019. Alex Kraus | Bloomberg | Getty Images Black stonethe world’s largest asset manager, announced Friday that it is buying Global Infrastructure Partners for about $12 billion in cash and stock. The acquisition is … Read more
Pavlo Gonchar | Lightrocket | Getty Images More than a dozen financial firms are involved in new bitcoin exchange-traded funds that began trading on Thursday, but one of the world’s largest fund issuers and money managers still won’t touch the cryptocurrency. A Vanguard spokeswoman told CNBC that the asset management giant has no plans to … Read more
Samara Cohen, chief investment officer of ETFs and index investments at Blackrock, center, rings the bell when bitcoin spot ETFs launch on the Nasdaq in New York on January 11, 2024. Stephanie Keith | Getty Images Bitcoin exchange-traded funds saw big swings during early trading on Thursday, mirroring a volatile day for cryptocurrency prices more … Read more
Continued disruptions to trade flows across the Red Sea could hit global economic growth, the head of one of the world’s largest container carriers said on Thursday. Maersk Chief executive Vincent Clerc said it remained unclear whether waterway passage would be restored in “days, weeks or months”, in comments first provided to the Financial Times … Read more