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
Apple CEO Tim Cook, left, and Microsoft CEO Satya Nadella. Reuters Microsoft ended Friday’s US trading session as the most valuable publicly traded company, surpassing Apple after briefly outperforming the iPhone maker during intraday trading on Thursday. Microsoft shares climbed more than 3% for the week, bringing the company’s market capitalization to $2.89 trillion, while … 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
Wells Fargo shares fell on Friday even after fourth-quarter profit rose from last year, as the bank warned that net interest income for 2024 could be significantly lower year-on-year. Here’s what the bank reported versus what Wall Street expected, based on a survey of analysts at LSEG, formerly known as Refinitiv: · Revenue: $20.48 billion … Read more
This photo taken on Sept. 22, 2023 shows a Rokid employee demonstrating an augmented reality helmet at the company’s office in the 2022 Asian Games host city of Hangzhou, in east China’s Zhejiang province. From autonomous bug zappers to android pianists and driverless ice cream trucks, machines rule the world, at least at China’s Asian … Read more
Containers stand at Yangshan Port in Shanghai, China, 6 August 2019. Aly Song | Reuters BEIJING – China’s exports rose more than expected in December but failed to offset an overall decline for 2023, customs data showed on Friday. Exports rose 2.3% year-on-year in U.S. dollar terms last month, more than the 1.7% increase expected … Read more
Chinese and US flags fly near The Bund before a US trade delegation meets their Chinese counterparts for talks in Shanghai, China on July 30, 2019. Aly Song | Reuters BEIJING – China’s Ministry of Commerce said Thursday that the U.S. is weaponizing export controls and using them as a tool. “We are very concerned … Read more
SAN FRANCISCO, CALIFORNIA – NOVEMBER 10: US Treasury Secretary Janet Yellen (R) greets Vice President of the People’s Republic of China (PRC) He Lifeng at the start of a bilateral meeting at the Ritz Carlton Hotel on November 10, 2023 in San Francisco, California. Secretary Yellen and Vice Premier Lifeng will meet ahead of the … Read more
People carry shopping bags when they visit a department store during the New York holiday season. Eduardo Munoz | Reuters According to the CNBC/NRF Retail Monitor for December, retailers posted solid gains last month to close out the holiday season. But the data also show that the true state of consumer spending is now being … Read more