Confidence in the United States financial system seems to be eroding fast with investors trying to find the next weakest link that is about to collapse. Bill Ackman, CEO of hedge fund management firm Pershing Square, cautioned that time was running out to fix the problem. The U.S. equities markets have become vulnerable to adverse
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In this article COIN AAPL DKNG WBD CI Follow your favorite stocksCREATE FREE ACCOUNT Pedestrians walk passed signage at Cigna headquarters in Bloomfield, Connecticut. Michael Nagle | Bloomberg | Getty Images Check out the companies making the biggest moves premarket: Cigna — Cigna gained 3% in premarket trading after beating top- and bottom-line estimates for
Smart contract auditor CertiK claims to have blocked $160,000 from Merlin, a zk-Sync-based decentralized exchange (DEX) which has been the center of a rogue insider “rugpull” that lost users $1.8 million last week. CertiK shared the news of its successful $160,000 freeze of the stolen funds in an update to its 257,700 Twitter followers on
The UK’s opposition Labour and Liberal Democrat parties expressed optimism early on Friday that they were making significant gains as votes began to be counted after local elections in many parts of England. Both parties argued that their performances positioned them well for the forthcoming nationwide general election. Labour’s shadow health secretary, Wes Streeting, told
Our weekly roundup of news from East Asia curates the industry’s most important developments. SUI rises to glory as Sun sets sights on it On Apr. 30, cryptocurrency exchange Binance unveiled two LaunchPools for the then-up-and-coming listing of Sui tokens. As a Layer-1 blockchain created by Mysten Labs, which in turn was founded by former
Display showing Gecko character for GEICO Insurance during the Berkshire Hathaway Annual Shareholder Meeting in Omaha, Nebraska. Yun Li | CNBC Berkshire Hathaway shareholders attending this year’s meeting will want to know more about the company Warren Buffett once called his “favorite child” – the auto insurer Geico. With tens of thousands of shareholders in
El Salvador’s president, Nayib Bukele, has enacted a law that eliminates all taxes on technology innovations, software and app programming, AI, computer, and communications hardware manufacturing. The law is expected to boost the country’s technology sector, generate more jobs for its population, and attract foreign investment. Bukele Signs Law to Boost Technology Industry in El
Illinois lawmakers are being urged to slow down as they consider pension mandates for Chicago that Mayor Lori Lightfoot’s administration warns could add $3 billion to the city’s long-term payment tab for its firefighters’ fund. The legislation raises benefits for employees hired beginning in 2011 when a Tier 2 pension system was established. Pension experts
Municipals improved Thursday while outflows from municipal bond mutual funds rose to more than $800 million. U.S. Treasuries were better on bonds five years and in and equities ended down as more news of troubled regional banks and the continued debt ceiling standoff in Washington hangs over markets. Triple-A benchmarks were firmer, with yields falling
Golf course communities usually bring to mind places like Palm Springs, California, or Scottsdale, Arizona, where the desert plays a starring role. Gray’s Crossing in California’s Lake Tahoe area trades the desert for the Sierra Nevada mountain range, adding more than just golf to the lifestyle mix. The neighborhood is made up of mountain homes
The Etsy website Gabby Jones | Bloomberg | Getty Images Check out the companies making headlines after hours. PacWest, Western Alliance, Comerica – Shares of PacWest plunged more than 50% in extended trading following a Bloomberg News report that the regional bank was exploring strategic options, including a potential sale. The news weighed on other
Looking at the market’s choppiness and heavy supply, Columbus decided last week to push of its new money and refunding to this week, but little did officials know that the U.S. Treasury would throw a curve ball by suspending the sale of State and Local Government Series securities. City Auditor Megan Kilgore said the city’s
U.S. District Court Judge Laura Taylor Swain denied Puerto Rico Electric Power Authority bondholders’ request she certify their appeal of her decision they have no lien on the bankrupt authority’s revenues. While bondholders could continue their appeal, without Swain’s certification it is less likely to be heard by the appeals court, said Puerto Rico Attorney
Little St. James Island, one of the properties of financier Jeffrey Epstein, is seen in an aerial view near Charlotte Amalie, St. Thomas, U.S. Virgin Islands July 21, 2019. Marco Bello | Reuters An investment firm led by the billionaire Stephen Deckoff has bought two private islands in the U.S Virgin Islands previously owned by
The UK competition watchdog is launching a review of the artificial intelligence market, including the models behind popular chatbots such as ChatGPT, as the industry comes increasingly into global regulators’ crosshairs. Sarah Cardell, chief executive of the UK Competition and Markets Authority, said the watchdog would examine so-called foundation models — such as the software
The Federal Reserve Bank building Kevin Lamarque | Reuters The Federal Reserve raised the target federal funds rate by another 0.25 percentage points on Wednesday. This marks the 10th time the Fed has raised its benchmark interest rate over the past year or so, the fastest pace of tightening since the early 1980s. Even though the Fed’s rate-hiking
The Bitcoin price successfully defended the $28,000 support on May 2, but it has yet to prove the strength needed to reclaim the $29,200 level from April 30. $30K becomes crucial for Bitcoin bulls Some analysts will pin the recent downtrend on the expectation of an interest rate increase by the United States Federal Reserve
Homes in Centreville, Maryland, US, on Tuesday, April 4, 2023. Nathan Howard | Bloomberg | Getty Images Mortgage demand from homebuyers has been erratic to say the least during the usually busy spring housing market. That is likely because today’s buyers are hypersensitive to mortgage rates, which have been fluctuating widely week to week but
Economist Peter Schiff has warned that the U.S. economy is facing stagflation and the situation is going to get worse. “Not only is the economy weakening, but inflation is strengthening,” he stressed, emphasizing: “You have the worst of both worlds.” U.S. Economy and Stagflation Economist and gold bug Peter Schiff warned about the U.S. economy
The UK’s financial regulator is pursuing a deeper and faster overhaul of the stock market listing rules after a string of high-profile companies shunned the City in favour of New York, raising questions about London’s future. In a consultation document to be published on Wednesday, the Financial Conduct Authority will outline plans to scrap rules