Confetti falls as Lyft CEO Logan Green (C) and President John Zimmer (LEFT C) ring the Nasdaq opening bell celebrating the company’s initial public offering (IPO) on March 29, 2019 in Los Angeles, California. The ride hailing app company’s shares were initially priced at $72. Mario Tama / Getty Images TE Connectivity This week, Wells
Month: January 2020
New York-based crypto-asset exchange Gemini has announced an increase in insurance coverage of its custody platform. The cryptocurrency exchange has increased its custody limit to $200 million. This is the largest cold storage insurance limit for any exchange globally. Gemini Launches Insurance Company This move indicates that Gemini Custody expects the demand for its services
Second, when interest rates go higher, as they will do sooner or later, it will become much more painful to finance annual deficits. “Third, in some countries high debt levels may generate default risk, high interest rates, capital outflows (as in Greece), and a debt crisis that may impose austerity when it is particularly costly,”
You might have heard of bitcoin’s “lightning network,” but don’t know what’s going on with it right now. Who are the mysterious big players behind this magical technology that allegedly solves all of bitcoin’s problems? Lightning is one of the most promising technologies in the space right now, even drawing in Square and Twitter CEO
Plaintiffs in three separate putative class action lawsuits against Bitfinex and Tether have moved to consolidate their cases, according to a Thursday court filing. Court filings by David Leibowitz et al, Eric Young et al, and Bryan Faubus et al, accuse the sister companies of manipulating the crypto markets. Their cases share common threads, filings
A Dave & Buster’s location in Irvine, California. Scott Mlyn | CNBC Check out the companies making headlines in midday trading on Friday: Alphabet – The Google-parent’s stock rose nearly 1% after UBS increased its price target, saying shares will climb more than 15% this year. The firm’s optimistic outlook came a day after a
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 15, 2020. Brendan McDermid | Reuters Wall Street may be getting a bit too excited about the stock market’s hot start to the new year. The S&P 500 has already jumped nearly 3% for 2020, rising more than
The Libra Association, the non-profit organization overseeing Libra, has established a five-member Technical Steering Committee (TSC) to oversee and coordinate the technical design and development of the Libra network. The responsibilities of the TSC are to direct the technical roadmap of the Libra network, form working groups to fast track research into specific issues, guide
The secondary market price of Puerto Rico’s 2014 general obligation bond increased 40% since June 11. On that date IHS Markit had an imputed market price of 47 cents on the dollar. The price as of Thursday was 66.75 cents on the dollar. One analyst said, “Much of the recent economic news for PR has
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This is part of a series of op-eds previewing the World Economic Forum in Davos, Switzerland. CoinDesk will be on the ground in Davos from Jan. 20–24 chronicling all things crypto at the annual gathering of the world’s economic and political elite. Follow along by subscribing to our pop-up newsletter, CoinDesk Confidential: Davos. Michael J. Casey is the
Pedestrians walk past a Gap Inc. store in New York. Craig Warga | Bloomberg | Getty Images Check out the companies making headlines after hours on Tuesday: Gap Inc. — Stock of the clothing retailer was up more than 4% in extended trading after the company announced it no longer planned to spin-off Old Navy
Buildings and skyscrapers in Jing’an district on October 18, 2018 in Shanghai, China. VCG | Visual China Group | Getty Images Home prices in China have been growing at a slower pace — but a portfolio manager at J.P. Morgan Asset Management said it’s time for investors to be more excited about the Chinese property
Aerion Supersonic as2 NEW YORK CITY – Supersonic air travel is only a few years from returning if a small U.S. company succeeds in developing its next-generation jet. Nevada-based Aerion expects to begin flying its AS2 supersonic jet by 2024, the company’s CEO Tom Vice said on Thursday, speaking at a UBS conference in New
Japan-based Liquid Exchange has canceled the sale of Telegram’s Gram tokens and returned funds to customers as the messaging app company remains embroiled in an SEC lawsuit. The exchange has said that it is acting in compliance with the investor agreement, which states that Telegram’s Open Network (TON) should have been launched by October 31,
Almost since its founding in 1975 by the late, great John Bogle, I have held Vanguard Group, the mutual-fund giant, in only the highest regard. Vanguard’s mission has been to deliver the lowest possible cost for services to investors and to conduct itself in a highly ethical manner. By structuring itself — unlike other mutual
The Puerto Rico Economic Activity Index rose in November by 0.3% from a year earlier. The index was also up 0.4% from October, according to a report from the Economic Development Bank for Puerto Rico on Thursday. In the last six months, the index value has gone up twice and down four times in year-over-year
The new owner of the Chrysler Building is selling a property worth $135 million to a blockchain real-estate company, taking a fifth of the purchase price in tokenized securities. New York-based RFR Holdings, which purchased the Chrysler Building in a joint agreement in March 2019, agreed to sell its majority stake in a commercial property
Rewards received by bitcoin miners form a major chunk of the salaries paid across major proof of work (PoW) blockchains, according to Yassine Elmandjra, a cryptocurrency analyst from ARK Invest. For example, bitcoin miners were paid over $15 million worth of the cryptocurrency as incentive to mine blocks and secure the network on Jan. 9.
A cashier places a bag of items in a customer’s shopping cart at a Target Corp. store in Chicago, Illinois, U.S., on Saturday, Nov. 16, 2019. Daniel Acker | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Target — Shares of Target plunged more than 7% after the big box
Keep you neighborhood in mind when choosing exterior paint colors for your house. (Photo by: … [+] Avalon/Universal Images Group via Getty Images) Universal Images Group via Getty Images After surveying 43 home design experts, Fixr has published the results of its annual color study. The results confirm what many interior designers have been predicting
A contractor uses a hammer while working on townhouse under construction at the PulteGroup Metro housing development in Milpitas, California, Oct. 25, 2018. David Paul Morris | Bloomberg | Getty Images The nation’s single-family homebuilders are feeling very confident about their business in the new year, as high demand and low supply make for a
Dara Khosrowshahi Patrick T. Fallon | Bloomberg | Getty Images Goldman Sachs sold its entire stake in ride-hailing giant Uber in the fourth quarter, according to a person with direct knowledge of the move. The sale, which likely resulted in a large gain for the early investor in Uber, helped New York-based Goldman beat analysts’
Bitcoin (BTC) is the subject of increased buying momentum after coming under pressure early in the year. After plummeting to $6,860, the flagship token has bounced back and is currently staring at a 2-month high of $9,000. The 15%+ rally has come at the back of improvements in fundamentals. Bitcoin Futures Boost BTC According to
Bitwise Asset Management has withdrawn its longstanding Bitcoin ETF application with the SEC, after the proposal was rejected by the commission in October. Bitwise first filed an application with the US Securities and Exchanges Commission for what would be the first-ever Bitcoin ETF in January of last year, after several other companies had failed with
Municipal bond investors looking for yield turned their focus to the Midwest on Wednesday as deals coming out of Chicago looked likely to satisfy their appetite, for now. Primary marketChicago (NR/BBB+/BBB-/A) hit the market Wednesday with the general obligation bond piece of its planned refunding deal that totals about $1.5 billion. JPMorgan Securities tentatively priced
Crypto startup Kadena’s public blockchain launched Wednesday, adding interoperable smart contract support between the public chain and its private chain counterparts. The Brooklyn-based offshoot of JPMorgan’s blockchain center announced that the launch marks another step in its effort to develop scalable, secure proof-of-work alternatives to the current leading cryptocurrencies: ethereum and bitcoin. As part of
Crypto perpetuals exchange Blade will be introducing zero-fee trading next month in a bid to gain market share from rivals. The Coinbase-backed exchange, which began operations in September, will also drop the $10 subscription fee it had planned to collect from traders on a monthly basis. Though based in San Francisco, Blade prohibits U.S. residents from
An Airbus A320-212 operated by Delta Airlines takes off from JFK Airport on August 24, 2019 in New York City. Bruce Bennett | Getty Images Check out the companies making headlines in midday trading. J.P. Morgan — Shares of J.P. Morgan jumped nearly 2% after the nation’s biggest bank by assets reported stronger-than-expected quarterly results. J.P.
Mortgage rates dropped and could go even lower thanks to global uncertainty. Getty The mortgage market had a good week. On the backs of yet another rate drop, refinancing activity surged once again. And purchase loans? They hit their highest point in more than a decade. According to the latest data from the Mortgage Bankers
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