Author: Press Room
Midway through last week and following the successful implementation of the Shanghai and Capella upgrades to the Ethereum blockchain, the price of Ether (ETH) broke convincingly above the $2,000 level for the first time since May 2022.Ether, the crypto token that powers the smart-contract-enabled Ethereum blockchain, has since been consolidating either side of the $2,100 level, with gains on the year currently around the 73% mark.Naturally, after Ether’s latest push higher above the key psychological $2,000 mark and long-term resistance around $2,030, traders are asking where next for the world’s second most valuable cryptocurrency by market capitalization.Continued consolidation over the…
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Almost Friday! Dan DeFrancesco in NYC, and I’d like to give a warm welcome to the city’s first-ever director of rodent mitigation, Kathleen Corradi. As a former elementary school teacher, Corradi is already well-versed in dealing with small pests. Today, we’ve got stories on a frequent-flyer-like program for hourly workers, PE firms can’t get enough of their own debt, and luxury hotels that won’t break your bank. But first, I’m gonna need you to go ahead and come in tomorrow. M’kay?If this was forwarded to you, sign up here. Download Insider’s app here.1. The WFH party is over. “Just when I thought I…
Cineworld has sought to exit its leases for 130 theaters in the US. A bankruptcy court in Texas has already approved its plan to walk away from 47 of those locations. Cineworld filed for Chapter 11 bankruptcy in September. 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 Cineworld has sought to close 130 movie theaters in the US over the course of its ongoing bankruptcy in Texas, according to court filings. The company, which runs a number of Regal, Eastgate, and other theater locations, filed…
Rupert Murdoch’s Fox has agreed to pay $787.5mn to settle a landmark defamation case in which it was accused of broadcasting false accusations of US election fraud, according to a lawyer for voting machine maker Dominion.A judge on Tuesday announced the “parties [had] resolved their case” following a last-minute deal reached on the cusp of a six-week trial in Delaware, which centred on claims aired on Fox News in the wake of Donald Trump’s election loss in 2020. Opening arguments were set to begin in the afternoon.Fox will pay $787.5mn — almost half of the $1.6bn in damages sought by…
The top US Navy admiral ardently defended a non-binary sailor on Tuesday amid some criticism from Republican lawmakers, saying he is “particularly proud of this sailor.” The sailor, LTJG Audrey Knutson, had their story shared on the Navy’s Instagram page last week. In a short video, Knutson said they are proud to serve as non-binary, especially because their grandfather served in the Navy as a gay man in World War II. During a deployment last fall aboard the aircraft carrier USS Gerald R. Ford, Knutson said their highlight was reading a poem to the whole ship at an LGBTQ spoken…
The 60/40 portfolio is no longer in favor at the world’s largest asset manager, where strategists say they are tearing up the playbook to help build more resiliency for investors. For those following the strategy that dictates putting 60% of a portfolio in stocks and 40% in bonds, last year would have likely been disappointing. The S&P 500 SPX, +0.09% recorded its worst annual return since 2008, and bonds TMUBMUSD10Y, 3.577% failed to play their part as a portfolio diversifier. “Those used to work when both assets trended up and bonds offset equity slides. We think a focus on any…
Did Shake Shack SHAK, -0.67% prod McDonald’s MCD, +0.55% to make a better burger? That’s the question some restaurant industry analysts and insiders are asking in light of the recent announcement from the Golden Arches that it’s indeed “about to make our classic burgers even better” (the italics in that statement come from the company itself). Specifically, the fast-food giant has outlined four key changes it’s making to its burgers, with implementation scheduled nationwide by 2024. The buns will be “softer” and “pillowy.” The cheese will be “perfectly melted.” The patties will have a “juicier, caramelized flavor” as a result…
The numbers: A lack of listings on the resale housing market is boosting demand for new construction, which is lifting home-builder confidence. The National Association of Home Builders (NAHB) monthly confidence index rose one point to 45 in April, the trade group said on Monday. This is the fourth month in a row that sentiment has improved among builders. The slight rise in confidence matched expectations on Wall Street. The March reading of 45 was the strongest since September 2022. A year ago, the index stood at 77. Builders were optimistic about the future as buyers contend with a low…
Securities and Exchange Commission Chairman Gary Gensler has embarked on a mission to fundamentally overhaul the structure of U.S. securities markets, and he’s made a few enemies along the way. Few are more vocal that Doug Cifu, CEO of Virtu Financial VIRT, -0.15%, the second-largest securities wholesaler in the country, whose more than $2 billion in annual revenue could be threatened by market reforms proposed by Gensler and the SEC last December. Market Extra: SEC votes to propose major overhaul of U.S. stock-trading rules In an interview with MarketWatch, Cifu argued that Gensler has become a political tool of “elements…
