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
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
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
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
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