Markets

Binance creates $1 billion crypto industry fund after FTX collapse

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Binance’s Co-founder & CEO Changpeng Zhao has given several interviews discussing the outlook for cryptocurrency following a turbulent couple of weeks in the market. NurPhoto / Contributor / Getty Images Cryptocurrency exchange Binance on Thursday announced new details about its industry recovery fund, which aims to prop up struggling players in the wake of FTX’s …

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Fed minutes, Bank of Korea decision, Sri Lanka

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A woman and a child ride a bicycle past street market stalls in Seoul on October 1, 2021. Anthony Wallace | AFP | Getty Images Markets in the Asia-Pacific traded higher as the US Federal Reserve said they expect to switch to smaller rate hikes “soon,” according to minutes released on Wednesday. The Bank of …

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Stephen King, Elon Musk spar: MyPillow will be Twitter’s ‘only advertiser’

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“‘Pretty soon the only advertiser left on Twitter will be MyPillow.’” — Stephen King, on Twitter That was master of horror and bestselling fiction writer Stephen King riffing on the parade of advertisers including GM GM, +0.44%, United Airlines UAL, +0.85% and Audi VOW, -1.69% pausing or scrapping their marketing on the social-media platform since …

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Fed officials see smaller rate hikes coming ‘soon’

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Federal Reserve officials earlier this month agreed that smaller interest rate increases should happen soon as they evaluate the impact policy is having on the economy, meeting minutes released Wednesday indicated. Reflecting statements that multiple officials have made over the past several weeks, the meeting summary pointed to small rate hikes coming. Markets widely expect …

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Citigroup, Manchester United, Nordstrom, Tesla and more

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Check out the companies making headlines in midday trading Wednesday: Citigroup — The stock dropped 2.3% after Citigroup was told it must addresses in its management of financial data by US banking regulators. Those regulatory groups said the issues could hinder its ability to produce correct reports during challenging times. related investing news Pro Picks: …

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Deere, HP, Nordstrom and others

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Check out the companies making headlines before the bell: deere (DE) – The heavy equipment maker reported better-than-expected profit and revenue for its latest quarter and issued an upbeat outlook. Deere said it benefited from positive farm fundamentals and increased infrastructure investment. Its stock jumped 4.2% in premarket trading. HP Inc. (HPQ) – HP rose …

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5 things to know before the stock market opens Wednesday, November 23

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The National Thanksgiving Turkey stands on the South Lawn of the White House in Washington, US, November 21, 2022. Evelyn Hockstein | Reuters Here are the most important news items that investors need to start their trading day: 1. All the trimmings It’s the day before Thanksgiving, so Americans are spending more attention on getting …

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Bitcoin (BTC) jumps even as trader remain cautious after FTX collapse

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The crypto market has been battered this year, with more than $2 trillion wiped off its value since its peak in Nov. 2021. Cryptocurrencies have been under pressure after the collapse of major exchange FTX. Jonathan Raa | Nurphoto | Getty Images bitcoin jumped higher on Wednesday bouncing off the previous day’s two-year low, even …

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Europe’s gas price cap leaves some nations dismayed

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Commissioner for energy Kadri Simson is talking to media. EU countries are debating new steps to deal with the energy crisis. Thierry Monasse | Getty Images News | Getty Images Several EU member states are not happy with the bloc’s proposed cap on natural gas prices — at 275 euros per megawatt hour — which …

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Credit Suisse shareholders greenlight $4.2 billion capital raise

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The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021. Arnd Wiegmann | Reuters Credit Suisse shareholders on Wednesday approved a 4 billion Swiss franc ($4.2 billion) capital raise aimed at financing the embattled lender’s massive strategic overhaul. Credit Suisse’s capital raising plans are split into two …

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