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
Besides GameStop, other popular short-squeeze targets among Reddit traders were taking big hits on Tuesday. Shares of AMC Entertainment, which rallied nearly 300% last week from a major short squeeze, was down about 39% in afternoon trading. The iShares Silver Trust ETF, part of an attempted squeeze on the metal, was down 7%. REDDIT TRADES […] Read more
LONDON — The U.K.’s competition regulator announced Thursday it’s starting an investigation into Facebook’s acquisition of popular GIF website Giphy, which is reportedly valued at $400 million. The Competition and Markets Authority said that it plans to launch the first phase of its probe on Friday, adding that it will issue a decision on whether it plans to take it […] Read more
Thinking of investing in a cryptocurrency? Be prepared to lose all your money. That’s the message from the U.K.’s Financial Conduct Authority, which on Monday warned investments and lending products related to crypto come with “very high risks.” “The FCA is aware that some firms are offering investments in cryptoassets, or lending or investments linked […] Read more
Shares of Rossari Biotech edged higher by 11 per cent to Rs 1,019 on the BSE in intraday trade on Tuesday to scale its highest level since listing on the bourses on July 23 this year. The stock of specialty chemicals company zoomed 140 per cent against its issue price of Rs 425 per share. In the […] Read more
Business activity in the euro zone is having a fairly robust December, according to the latest preliminary purchasing manager’s index (PMI) data for the region. The flash euro zone PMI composite output index, which looks at activity in both manufacturing and services sectors, came in at 49.8 in December, up from 45.3 in November. A […] Read more
