The U.S. Department of Justice has taken a firm stance in requiring China-based ByteDance to sell TikTok‘s U.S. assets due to concerns about national security. The department argues that TikTok, under Chinese ownership, poses a significant threat because of its access to vast amounts of personal data of Americans. The fear is that China could
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Billionaire investor Bill Ackman has decided to postpone the highly anticipated listing of Pershing Square’s U.S. closed-end fund. This decision was communicated through a notice on the New York Stock Exchange’s website. The initial public offering of Pershing Square USA Ltd., with the ticker PSUS, has been delayed with no specific date announced for the
Disney and Marvel’s “Deadpool & Wolverine” has shattered expectations with a staggering $38.5 million in Thursday previews. This highly anticipated film is on track for a domestic opening of over $150 million, setting a new record for an R-rated movie. It is the first R-rated entry in the Marvel Cinematic Universe, making it a groundbreaking
One of Japan’s leading automakers, Toyota Motor, is making significant strides in the electric vehicle (EV) market with its plans to build a battery plant in Fukuoka. This new plant will supply batteries to a factory that produces the luxury Lexus brand cars, marking a strategic move for Toyota. The decision to build the battery
This past week marked a significant milestone for the cryptocurrency markets as spot ether exchange-traded funds made their debut. Among the nine spot ether ETF applicants that received approval from the Securities and Exchange Commission, Franklin Templeton was one of them. The firm introduced the Franklin Ethereum ETF (EZET), which has experienced a 10% decrease
The recent tech sell-off has caught the attention of hedge fund manager Dan Niles, who views it as a sign that the trade is facing significant challenges. Niles pointed to Google parent Alphabet’s quarterly results as a key factor in highlighting investor impatience. Following the results, shares of Alphabet plummeted by 5%, prompting Niles to
Currency markets have been turbulent recently, with commodity currencies hitting multi-week lows due to weakness in Chinese demand. The Australian dollar, New Zealand dollar, and Canadian dollar have all suffered losses against the U.S. dollar as Chinese growth figures fell short of expectations and surprise rate cuts were implemented. This has led to a ripple
Recent data from the National Association of Realtors has shown a significant drop in sales of previously owned homes in June. The sales decreased by 5.4% compared to May, amounting to 3.89 million units on a seasonally adjusted, annualized basis. Additionally, the sales were 5.4% lower than June of the previous year, marking the slowest
In a recent announcement, Finance Minister Nirmala Sitharaman revealed that the Indian government would be reducing its planned gross market borrowing by 120 billion rupees for the financial year ending March 2025. This decision comes as a modification from the earlier 14.13 trillion rupees announced in the interim budget. The aim is to borrow a
Warren Buffett’s Berkshire Hathaway made a surprising move by trimming its significant Bank of America holding for the first time in over four years. The conglomerate sold a substantial amount of shares, totaling almost $1.5 billion, in separate sales over the course of a few days. This adjustment marked a significant shift in Berkshire’s investment
London stocks experienced a rebound on Monday, with both the blue-chip FTSE 100 index and the mid-cap FTSE 250 showing gains. Investors were busy digesting corporate updates and evaluating the potential consequences of U.S. President Joe Biden withdrawing from the reelection race. Rentokil stood out during the trading session, surging 12.3% to claim the top
China recently made an unexpected move by cutting both short and long-term rates by 10 basis points, signaling a shift towards supporting economic growth. This decision came shortly after the release of a policy document outlining the country’s ambitions for the economy. The People’s Bank of China reduced rates on its seven-day reverse purchase agreements,
Upon analyzing the information provided by top Wall Street analysts, it appears that Costco Wholesale (COST) is receiving positive feedback despite its recent membership fee hike. Analyst Corey Tarlowe from Jefferies remains bullish on COST stock, expressing confidence in the company’s decision to increase its annual membership fees for both “Gold Star” and “Executive Membership”
The recent uptick in money flowing into small-cap stocks may not be solely a result of a rotation from winning growth trades, according to Dave Nadig, an ETF journalist and financial futurist. In fact, Nadig believes that investors are simply diversifying their portfolios by “just buying, buying, buying.” This trend towards diversification is seen as