With cryptocurrencies, investors may be missing a bigger point about disruption and investing right now, says Nordea's Sebastien Galy.
You're living inside a giant piggy bank now — and have options for shaking out some cash.
NEW YORK (Reuters) -JPMorgan Chase & Co Chief Executive Jamie Dimon said on Monday the bank is holding around $500 billion in cash, putting it in a position to benefit from higher interest rates. "We've actually been effectively stockpiling more and more cash, waiting for opportunities to invest at higher rates," Dimon said during a virtual conference held by Morgan Stanley. "So our balance sheet is positioned (to) benefit from rising rates."
EV Aircraft company Vertical Aerospace announced last week that they would go public via a SPAC merger.
The country is testing the currency in different pilots.
Huawei Chief Financial Officer Meng Wanzhou on Monday will seek to bar publication of documents her legal team received from HSBC, a request opposed by Canadian prosecutors in her U.S. extradition case who say it violates the principles of open court. Meng's legal team will present arguments in support of the ban in the British Columbia Supreme Court. Meng, 49, was arrested at Vancouver International Airport in December 2018 on a warrant from the United States, where she faces charges of bank fraud for allegedly misleading HSBC about Huawei Technologies Co Ltd's business dealings in Iran and potentially causing the bank to break U.S. sanctions on business in Iran.
(Bloomberg) -- Europe is so short of natural gas that the continent -- usually seen as the poster child for the global fight against emissions -- is turning to coal to meet electricity demand that is now back to pre-pandemic levels.Coal usage in the continent jumped 10% to 15% this year after a colder- and longer-than-usual winter left gas storage sites depleted, said Andy Sommer, team leader of fundamental analysis and modeling at Swiss trader Axpo Solutions AG. As economies reopen and people g
(Bloomberg) -- The European Union is testing investors’ appetite to fund nearly $1 trillion of debt over five years as it seeks to finance its recovery from the coronavirus pandemic.The bloc opened books on debut 10-year bonds as part of its NextGenerationEU (NGEU) program, which will finance grants and loans to member states. European Central Bank President Christine Lagarde said in an interview published Monday the NGEU stimulus will “transform the future of Europe.”The bonds, which are likely
(Bloomberg) -- Shares of companies controlled by billionaire Gautam Adani recouped a part of their day’s losses after refuting a local report that said accounts of three Mauritius-based funds that own the group’s stocks were frozen.The Economic Times reported Monday that National Securities Depository Ltd. froze the accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund. It said the action was probably due to insufficient disclosure of information regarding beneficial ownership
The good thing is that inflation may be nearing a peak. The bad thing is that everything is still costing you more. Here are the simple reasons why.
NEW DELHI (Reuters) -India's antitrust watchdog plans to expedite a restarted probe into allegations of anti-competitive behaviour at Amazon.com Inc and Walmart Inc's Flipkart, as it intensifies scrutiny of big-tech firms, two people close to the matter said. The comments come as major U.S. technology firms including Twitter Inc and Facebook Inc are at loggerheads with the government over issues such as data privacy bills and policies some industry executives have called protectionist. The Competition Commission of India (CCI) initiated a probe in January last year on the basis of a complaint alleging Amazon and Flipkart promoted select sellers on their e-commerce platforms and that deep discounts stifled competition.
(Bloomberg) -- The size and type of defaults that have occurred in China in recent times indicate that the notion of “too big to fail” may no longer apply to the nation’s borrowers, according to Goldman Sachs Group Inc.There has been a noticeable up-tick in defaults by Chinese state-owned enterprises since late 2019 and some of the borrowers that have failed to repay debt recently such as China Fortune Land Development Co. have had large amounts of outstanding bonds, analysts including Kenneth H
Taiwan's central bank will likely keep its policy rate steady at a record low this week as the economy booms on global tech demand fuelled by the work-from-home trend, despite a spike in COVID-19 cases at home, a Reuters poll showed. The central bank is seen leaving the benchmark discount rate unchanged at 1.125% on Thursday at its quarterly meeting, all 14 economists in the poll said, after holding fire at its past four meetings. Taiwan's export-reliant economy has been supported by global demand for tech products from an increasing number of people working and studying from home during the COVID-19 pandemic.
Shares in companies controlled by Indian billionaire Gautam Adani shed more than $6 billion on Monday despite rejecting media reports that said accounts of three foreign investor funds that own stocks had been frozen. Adani Group flagship Adani Enterprises closed down 6.3% after plunging as much as 25%, its steepest fall in nearly a decade. The Adani Group firms involved rejected reports about the National Securities Depository Ltd (NSDL) freezing the funds' accounts as "blatantly erroneous" in identical statements issued to stock exchanges.
CEO Michael Saylor is intent on adding to the company's bitcoin holdings.
(Bloomberg) -- Members of the Walton family have sold 16.7 million shares of Walmart Inc. this year as they try to keep their stake in the world’s biggest retailer from ballooning amid the company’s stock buybacks.The Walton Family Holdings Trust sold $430 million worth over the past week, taking their total sales to almost $2.1 billion since Jan. 1, according to Securities and Exchange Commission filings. The notifications were filed on behalf of second-generation family members Alice, Rob and
Lordstown Motors executives should be hanging their heads in shame right about now.
Conditions seem to be perfect for the rally to continue, but there are potential headwinds that could give bullish traders an excuse to book profits.
Gold traders will closely scrutinize the Fed’s evolving outlook on unemployment, inflation, economic growth and when it may start raising rates.
AMC Entertainment shares are rallying while meme-stock newcomer Corsair finds a groove.
(Bloomberg) -- The world’s top makers of Covid-19 vaccines dropped after tests of Novavax Inc.’s shots showed they were 90% effective at preventing symptoms.Stocks tied to inoculations already cleared for emergency use fell in Monday trading, led by Moderna Inc closed down 5.2% after dropping 9.5% intraday. Pfizer Inc. fell 1.3% and the drugmaker’s German partner BioNTech SE dropped 7.5%. Consumer giant Johnson & Johnson reversed earlier losses to close up 0.3%, slightly more than the S&P 500 in