Author: Press Room
Things are not looking good for Terra Luna (LUNA) in 2023.The cryptocurrency was last changing hands around $1.26 per token, 50% down from earlier annual highs to the north of $2.50.That means LUNA has now erased the entirety of this year’s gains.Compare that to Bitcoin and Ether, both of which are up in the 60-70% region.At current levels, LUNA is trading just 15% above last year’s record lows in the $1.09 region and down over 80% from last year’s record highs above $7.50.LUNA is the token that powers the Terra 2.0 blockchain, which was created in response to the spectacular…
Developer tools grew to over a quarter of the startups in Y Combinator’s latest winter 2023 batch. A number of these buzzy startups have already secured funding from top firms, sources say. However, elevated valuations and competitive concerns raised questions for investors. Developer tool startups that were part of Y Combinator’s latest class are drawing strong interest from several high-profile venture capitalists.Four dev tool startups that recently graduated from the storied Silicon Valley startup incubator have already landed additional capital just weeks after its Demo Day, when these companies officially launched, Insider has learned.Resend, a tool that allows developers to…
A former president of Peru, Alejandro Toledo, will be extradited to Peru to face graft charges after surrendering to US authorities on Friday. Toledo — who governed the country, a major producer of copper, between 2001 and 2006 — turned himself in to federal agents in California on Friday morning, a day after a federal judge in Washington denied his attempt to block the extradition, ending a years-long legal battle.“I ask Peruvian justice not to kill me in jail,” Toledo said in an interview with the EFE news agency on Thursday, before he surrendered. “Let me fight with arguments.”Toledo, 77,…
‘He failed us’: Hear what former Republican governor is saying about Trump now Republican Chris Christie, the former governor of New Jersey who supported former President Donald Trump in the 2020 election, says that Donald Trump has failed the American people and warned against electing him a second time. Read the full article here
American Express Co. continued to benefit from strong spending growth in the latest quarter, with particular momentum in the travel and entertainment categories. The card giant on Thursday morning posted first-quarter net income of $1.8 billion, or $2.40 a share, down from $2.1 billion, or $2.73 a share, in the year-earlier period. The FactSet consensus called for earnings of $2.66 a share. Amex… Read the full article here
Have you ever wondered why the stock market rises during a period of economic uncertainty? Last year, when interest rates shot up, the S&P 500 SPX fell 18.1% (with dividends reinvested), which may not have surprised many people. But 2023 hasn’t been a year of good economic news, and we narrowly averted a banking crisis last month. Meanwhile, the S&P 500 is up 8% this year. William… Read the full article here
President Joe Biden looks set to sign a much-anticipated executive order in the coming weeks that would limit some U.S. investments in certain high-tech sectors in China, in a fresh sign of how Washington is aiming to take a tough stance against Beijing. The goal of the order would be to address national-security worries posed by U.S. companies’ investments in “countries of concern — in particular China,” said 22V Research analysts led by Kim Wallace, a former Obama Treasury official, in a note on Thursday. The… Read the full article here
© Reuters. Tesla earnings missed by $0.01, revenue fell short of estimates Investing.com – Tesla (NASDAQ: TSLA) reported first quarter EPS of $0.85, $0.01 worse than the analyst estimate of $0.86. Revenue for the quarter came in at $23.3B versus the consensus estimate of $23.78B. Tesla’s stock price closed at $180.59. It is up 35.35% in the last 3 months and down -44.56% in the last 12 months. Tesla saw 4 positive EPS revisions and 12 negative EPS revisions in the last 90 days. See Tesla’s stock price’s past reactions to earnings here. According to InvestingPro, Tesla’s Financial Health score…
By Matthew Chye (Reuters) – Chile’s President Gabriel Boric announced on Thursday he would nationalise the country’s vast lithium industry to boost the economy and protect the environment. The shock announcement is the latest in a trend as countries look to assert greater control over key resources amid intensifying competition for materials that are crucial to the energy transition. Recent moves by governments globally to take more control of their natural resources: CHILE * Home to the world’s largest lithium reserves, Chile said it will over time transfer control of its vast lithium operations from industry giants SQM and Albemarle…
LONDON (Reuters) – A number of banks including Morgan Stanley (NYSE:) and Deutsche Bank (ETR:) on Wednesday revised upward expectations for further UK interest rate hikes as a second straight day of data suggested price pressures remain elevated. Britain was the only country in western Europe with double-digit inflation in March after it fell less than expected, official data showed on Wednesday. Morgan Stanley analysts said they now expect a 25 basis point (bps) rate hike from the Bank of England in May, and see “clear risks of a June move too”. Previously, the bank had anticipated no change in…
