Keith Gill, the Reddit trading crowd’s favorite and the man who inspired the epic GameStop short squeeze,, just doubled down on his bet on the video game retailer, forgoing millions of dollars in quick profit to ramp up his stake. The investor, who goes by DeepF——Value on Reddit and Roaring Kitty on YouTube, exercised his 500 GameStop […] Read more
Turkey’s Monetary Policy Committee on Thursday chose to keep its key interest rate unchanged at 19%, in a move widely anticipated by markets. While unsurprising to investors watching the central bank, the dovish signal nonetheless risks more volatility for the country’s currency as it all but eviscerates the likelihood of higher rates in the future […] Read more
Twenty years ago, the United States government filed suit against Microsoft for abusing its market power. Today, Microsoft is empire building because the country’s regulatory focus is on its biggest rivals. Microsoft announced Monday it had acquired Nuance Communications for $16 billion ($19.7 billion including net debt). The deal gives Microsoft a company that specializes in voice transcription and related artificial intelligence […] Read more
The company behind the Nokia mobile brand refreshed its smartphone lineup on Thursday with a slew of new budget models, as it struggles to compete with established players like Samsung and Apple. Finnish start-up HMD Global has held the license to design and sell Nokia handsets since it bought the telecom group’s mobile phone division from Microsoft in 2016. The firm has […] Read more
The Ever Given, the massive container ship that became wedged in the Suez Canal and cut off traffic in the vital waterway for almost a week, has been refloated, authorities said Monday. The ship sailed north to the Great Bitter Lake, arriving there just before 1 p.m. ET, according to Leth Agencies, which is a […] Read more
The outlook for U.S.-China trade relations is likely to remain challenged after this week’s high-level diplomatic talks showed that President Joe Biden’s team does not plan to wholly abandon the Trump administration’s tough tone in discussions with Beijing. Though Washington and Beijing struck a ceasefire in their tit-for-tat trade feud with last year’s “phase one” agreement, […] Read more
Toys R Us has a new owner — again. The brand management company WHP Global announced Monday it has acquired a controlling interest in Tru Kids, the parent company of the Toys R Us, Babies R Us and Geoffrey the Giraffe brands. “We’re in the brand business, and Toys R Us is the single most […] Read more
U.S. stocks jumped on Tuesday after a decline in bond yields ushered investors into the beaten-up technology sector. The tech-heavy Nasdaq Composite climbed 4.2%, on pace for its best day since April 2020. Tesla stock soared 17% after a five-day losing streak and headed for its biggest one-day pop since February 2020. Apple, Facebook and Amazon jumped 4% each, while Microsoft […] Read more
Klarna’s CEO is ‘deeply worried’ about tweets promoting bitcoin and thinks regulators should step in
The boss of European fintech giant Klarna says he’s “deeply worried” about posts promoting bitcoin on Twitter and thinks regulators should act to protect people from potential losses. Sebastian Siemiatkowski told that, though he thinks bitcoin could be an “interesting technology,” he fears retail investors may get drawn in by tweets urging people to buy the cryptocurrency without thinking […] Read more
Italy will be in ‘very good hands’ with Mario Draghi at the helm of a new government, former PM says
LONDON — Italy’s Matteo Renzi believes the country will be in “very good hands” with Mario Draghi after the former European Central Bank chief accepted a mandate to try to form a new government. Following a meeting with Italian President Sergio Mattarella on Wednesday, Draghi agreed to try to form a national unity government and solve the political […] Read more
