Covid crushed the travel business and few cities took a bigger hit than Las Vegas. The reopening of Sin City was a slow process, with the two biggest Las Vegas Strip players -- Caesars Entertainment and MGM Resorts International -- opening their properties in phases. Las Vegas was open, but it was a muted open, where major resort casinos remained closed and the ones that were open hosted much smaller crowds than they normally would have.
The last few weeks have been rocky, with the collapse of Silicon Valley Bank, and the crypto-heavy Silvergate and Signature banks, dominating the headlines. For a short time, it seemed that the contagion would spread to the global financial giants. Now, however, it appears that we’ve managed to avoid a true banking crisis – and Raymond James’ chief investment officer Larry Adam has pointed out several reasons why. For starters, Adam notes that Credit Suisse, despite its troubles, found a way out
The Fed and other central banks want to bring down inflation at all costs. Is it worth it?
Elon Musk on late Monday offered his opinion on what the Federal Reserve should do with its benchmark interest rate. The Fed's FOMC is meeting for two days this week.
Being profitable on paper belies the tough situation for GameStop.
Airfare prices move up and down based on two major things -- passenger demand and the cost of actually flying the plane. Domestic air travel traffic for 2022 rose 10.9% compared to the prior year. The nation's air traffic in 2022 was at 79.6% of the full-year 2019 level.
UBS on Sunday agreed to buy rival Swiss bank Credit Suisse for 3 billion Swiss francs ($3.23 billion) in stock and agreed to assume up to 5 billion francs ($5.4 billion) in losses, in a shotgun merger engineered by Swiss authorities to avoid more market-shaking turmoil in global banking. Klein, a veteran dealmaker, was merging his eponymous advisory boutique into Credit Suisse's investment banking operations to create CS First Boston as a standalone business which he would have led from New York. UBS has now assigned a legal team to examine how to void the contract Credit Suisse signed with Klein in the cheapest way possible, according to the FT report, which cited people with direct knowledge of the matter.
Analyst Mark Delaney downgraded the company to Sell from Hold. His price target is $5 a share, down about 35% from recent levels.
Abel, who heads the non-insurance operations of Berkshire (ticker: BRK.A, BRK.B), purchased 55 class A shares at a price of $447,259 on Friday, lifting his stake in the A shares to 228 shares. Berkshire shares rose 1% Tuesday to $460,515, and the B shares gained 0.9% to $303.85. The purchases were made on behalf of the Gregory Abel Revocable Trust on behalf of his wife, children, and other family members.
(Bloomberg) -- Nio Inc. is “very confident” of meeting its target of doubling sales to 250,000 electric vehicles this year, Chief Financial Officer Steven Feng said, prompting the Chinese automaker’s shares to surge in Hong Kong. Most Read from BloombergBomb Threat Called In to New York Court Where Trump Hearing HeldBiden Stunts Growth in China for Chipmakers Getting US FundsSVB’s Loans to Insiders Tripled to $219 Million Before It FailedFed Caught Between Inflation and Bank CrisisFirst Republic
Is the Fed's next rate hike decision going to be "poorly perceived" by the markets and bring the U.S. economy closer to recession? Experts Mike Lee and Kathryn Rooney Vera weigh in.
It's the second scandal involving fake nickel in as many months.
Saudi Crown Prince Mohammed bin Salman last year directed government-backed Saudi National Bank to make a $1.5 billion investment in Credit Suisse that his financial advisers harbored doubts about.
The videogame company's surprise profit sent its shares higher and boosted fellow meme stocks AMC Entertainment and Bed Bath & Beyond.
Boeing (BA) closed the most recent trading day at $204.70, moving -0.03% from the previous trading session.
When banking failures occur, depositors naturally become worried about their money. They also tend to question whether to withdraw cash from their accounts or leave it where it is. And as depositors look for a safe place to house their … Continue reading → The post Are Money Market Accounts Safe? appeared first on SmartAsset Blog.
AT&T saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, with an increase from 66 to 78. When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. See if AT&T can continue to show renewed price strength and hit that benchmark.
LAUSANNE, Switzerland (Reuters) -Goldman Sachs expects a commodities supercycle driven by China and the capital flight from energy markets and investment this month after concerns triggered by the banking sector, the U.S. bank's head of commodities said. "As losses mounted, it spilled into commodities," Jeff Currie, global head of commodities for Goldman Sachs, told the Financial Times Commodities Global Summit on Tuesday.
When Amazon announced it was eliminating 9,000 jobs March 20, CEO Andy Jassy wrote a message that was posted to an Amazon blog. The new layoffs were to affect Amazon Web Services (AWS), People Experience and Technology Solutions (PXT Solutions), advertising and the video live streaming service Twitch.
(Bloomberg) -- The Biden administration unveiled tight restrictions on new operations in China by chipmakers that get federal funds to build in the US, potentially hampering efforts to expand in the world’s largest semiconductor arena.Most Read from BloombergBomb Threat Called In to New York Court Where Trump Hearing HeldBiden Stunts Growth in China for Chipmakers Getting US FundsSVB’s Loans to Insiders Tripled to $219 Million Before It FailedFed Caught Between Inflation and Bank CrisisFirst Rep
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