Bitcoin (BTC) starts the second week of May 2022 by bringing up bearish ghosts from its past — how much worse could the picture get for hodlers? After falling to nearly $33,000, the largest cryptocurrency is giving market participants, new and old, a run for their money, and the fear is palpable. A brutal combination … Read more
Workers at an Apple supplier in Shanghai are operating under a “closed loop” system where they work, live, eat, and sleep onsite.Qilai Shen/In Pictures via Getty Images Images Videos show workers at an Apple and Tesla planning in Shanghai clashing with quarantine officials. The workers were said to be frustrated with onsite COVID-19 measures. The … Read more
The Biden administration announced Monday that 20 leading internet service providers have agreed to offer basic low cost plans that will be free for millions of Americans after a refund. The 20 companies, including AT&T (T), Comcast (CMCSA), and Verizon (vz), covering more than 80% of the US population. They will immediately provide at least … Read more
US stock futures fell to start the week, indicating that major equity indexes could decline again following last week’s big swings. Futures for the S&P 500 declined 1.5%. Contracts tied to the technology-focused Nasdaq-100 fell 1.7% while those for the Dow Jones Industrial Average receded 1.2%. US government bonds sold off again, pushing the yield … Read more
Facebook (FB) – Get Meta Platforms Inc. Class A Report is preparing for difficult days ahead. The social media giant has just taken steps to reduce its costs in anticipation of the slowdown in growth predicted by many economists. The firm, which renamed itself Meta Platforms last October, has just decided to change its hiring … Read more
The writer is an investor in technology start-ups at Samos Investments Web3 — or the new internet — is edging into the mainstream. This new version of the web is built with blockchain technology, which is based on the concept of decentralization and allows for more transparency. Blockchain supports digital assets, such as cryptocurrencies and … Read more
Above will cut back on spending and focus on becoming a leaner business to address a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email obtained by CNBC. “After earnings, I spent several days meeting investors in New York and Boston,” Khosrowshahi said in the email, which was sent out late … Read more
Check out what’s clicking on FoxBusiness.com. HONG KONG — As inflation soars around the world, the world’s second-largest economy has kept it at bay. Consumer prices in China increased just 1.5% in March from a year earlier, after rising 0.9% in 2021 from the year before. By contrast, the US annual inflation rate was 8.5% … Read more
© Reuters. FILE PHOTO: A man wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, walks past an electronic board displaying Shanghai Composite index, Nikkei index and Dow Jones Industrial Average outside a brokerage in Tokyo, Japan, March 7, By Wayne Cole SYDNEY (Reuters) – Asian shares slide and the dollar hit two-decade peaks … Read more
George Clerk | E+ | Getty Images There’s an economic idiosyncrasy in the UK that makes it “one of the most vulnerable countries in the world right now,” according to an investment strategist. Mike Harris, the founder of Cribstone Strategic Macro, argues that a major problem for Britain is that its mortgage market is “heavily … Read more
