Author: Press Room
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. Stocks retreat Morgan Stanley reports Stick with Apple 1. Stocks retreat Stocks fell during midmorning trading Wednesday, with the S & P 500 down around 0.25%. Meanwhile, higher-than-expected inflation in the UK — the country’s consumer price index rose by 10.1% in March — pushed Treasury yields higher. The U.S. dollar also edged up, putting further pressure on equities. Oil prices tumbled, with West Texas Intermediate crude losing more than 1.6%, to hover just below…
Former Trump Organization Chief Financial Officer Allen Weisselberg was released from jail on Wednesday, according to New York City Department of Correction records.Weisselberg was sent to New York’s Rikers Island jail on Jan. 10 for helping engineer a wide-ranging 15-year tax fraud scheme at former President Donald Trump’s family business.He was sentenced to five months behind bars but was eligible for release after 100 days with time off for good behavior.A lawyer for Weisselberg did not immediately respond to a request for comment.Weisselberg, 75, pleaded guilty last year in connection with the long-running scheme. He and other executives received bonuses…
Seagate Technology has agreed to pay a $300 million penalty in a settlement with US authorities for shipping over $1.1 billion worth of hard disk drives to China’s Huawei in violation of US export control laws, the Department of Commerce said on Wednesday. Seagate (STX) sold the drives to Huawei between August 2020 and September 2021 despite an August 2020 rule that restricted sales of certain foreign items made with US technology to the company. Huawei was placed on the Entity List, a US trade blacklist, in 2019 to reduce the sale of US goods to the company amid national…
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Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.There is something profound about transparency. Being able to share what is happening, being able to see what is happening, and being able to ensure that what you see is what you get. This is true in relationships, in public figures, and in business. And while it would be amazing to have our politicians’ actions fully transparent, that might take a bit longer to realize. However, at least in a business environment, technology is enabling true transparency via the…
Shaquille O’Neal was finally served in an FTX lawsuit over the weekend following a three month chase. The lawsuit alleges that O’Neal, among other celebrities, were promoting a “fraudulent scheme.” O’Neal has claimed he was just a paid spokesperson for the embattled crypto firm. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Shaquille O’Neal was served papers over the weekend in a lawsuit involving the fallen crypto firm FTX — after a three month chase, according to a law firm representing investors in the suit.”Plaintiffs…
Japan’s stock market could be set for the best returns in a generation, say analysts bullish about the prospect of an end to decades of deflation and growing levels of shareholder activism — but their optimism has yet to persuade many overseas investors to part with their cash.Since the start of 2023, Tokyo brokers have hosted waves of investors from around the world attracted by the possibility that an equity market they have ignored since 2018 may now represent an opportunity they cannot afford to miss. The recent visit to Tokyo of Warren Buffett came with the revelation that he…
Watch GOP and Democrat congressmen go head-to-head on the use of guns following string of shootings Rep. Byron Donalds (R-FL) and Rep. Jamaal Bowman (D-NY) join CNN’s Pamela Brown to debate gun control following a string of recent shootings. Read the full article here
A former San Francisco WeWork building has seen its property value slashed by about 66%, according to Trepp. The building at 25 Taylor St. a revamped multi-floor brick space in San Francisco’s theater district, was once almost entirely leased to WeWork, the formerly high-flying co-working startup co-founded by Adam Neumann. The building was valued at $28.1 million in 2014, when it was last financed by Wall Street in the commercial mortgage-backed securities market, but a new appraisal pegged its value at only $9.5 million, according to Trepp, a platform that tracks commercial real-estate data. Office buildings have become an increasing…
It’s often said that Wall Street and Main Street don’t have the same values and concerns. That seems to be playing out with Anheuser-Busch InBev, as the beer maker’s stock continues to rally despite stoking recent social controversy. Several weeks ago, AB InBev (ticker: BUD) started a marketing campaign for its Bud Light brand featuring transgender actress and social media personality Dylan Mulvaney, a move that sparked praise and opprobrium along the expected political lines. Conservative commentators and consumers who took exception with Bud Light’s association with Mulvaney called for a boycott. That led the head of Bud Light to…
