Tim Cook

Bitcoin has soared this year as rumors spread that some of the world’s biggest technology companies, including Apple, Samsung, Facebook, and Twitter, are taking an interest in cryptocurrencies. The bitcoin price jumped around 200{6c2ee02bcd8e4babb54279c3ba0da46f03ed822bc96c85cd54ee7f8408144ace} over the first six months of the year largely due to social media giant Facebook’s now fading plans to launch itsContinue Reading

Dow Futures Rise

Dow Jones futures showed slightly higher movement early Tuesday along with S&P 500 and Nasdaq 100 futures. Invesco QQQ Trust (QQQ) was up 0.3{6c2ee02bcd8e4babb54279c3ba0da46f03ed822bc96c85cd54ee7f8408144ace}, poised to open above its 50-day moving average. FANG stocks like Amazon.com (AMZN), Google-parent Alphabet (GOOGL) and Facebook (FB) showed gains mostly in line with the Nasdaq despite news of anotherContinue Reading

No plans to block Chinese listing

The United States does not currently plan to stop Chinese companies from listing on U.S. exchanges,  reported on Saturday, citing a U.S. Treasury official. “The administration is not considering blocking Chinese companies from listing shares on U.S. stock exchanges at this time,” Treasury spokeswoman Monica Crowley as said. It wasContinue Reading

WeWork

S&P Global Ratings cut WeWork’s credit rating deeper into junk territory amid apprehensions it won’t be able to meet its growth plans. The credit rating agency on Thursday lowered WeWork’s rating one notch to B- and assigned a negative outlook, saying “heightened risk of recession” could impact its liquidity positionContinue Reading

crypto

Bitcoin and cryptocurrency market watchers were on high alert today as the eagerly-anticipated Bakkt crypto platform went live. The bitcoin price failed to perform, however, with bitcoin losing around 2{6c2ee02bcd8e4babb54279c3ba0da46f03ed822bc96c85cd54ee7f8408144ace} of its value since Bakkt began trading its “physically” settled bitcoin futures contracts, with some $8 billion wiped from the wider cryptocurrency market. Meanwhile,Continue Reading

Financial Crisis

Lending standards in the rapidly growing loan market are perishing and complex financial products that mask risks to banks have parallels with the run-up to the 2008 financial crisis, the Bank for International Settlements warned on Sunday. The number of collateralized loan obligations (CLOs), a form of securitization which poolsContinue Reading