Category Archives: Finance

Ackman cuts staff, shuns limelight as he seeks to turn around fund

William Ackman is cutting almost a fifth of staff and looking to lower his public profile as he seeks to turn around Pershing Squera  Capital management after three straight years of losses, people familiar with the move told Reuters on Monday.

Wall Street ends higher despite government shutdown threat

NEW YORK  – Wall Street rose on Friday, led by gains in consumer stocks, even as a possible government shutdown loomed. The S&P 500 and the Nasdaq hit record closing highs, while the Dow ended the day higher after trading

Bank of America loses its second head of tech and media banking in less than a year

Bank of America’s global head of technology, media and telecommunications investment banking Anwar Zakkour is planning to depart to pursue other opportunities, according to an internal e-mail obtained by CNBC and confirmed by a bank spokesman. His departure marks the

HSBC to pay $100 million to settle currency rigging investigation

HSBC holdingson Thursday agreed to pay $101.5 million to settle a U.S. criminal probe into the rigging of currency transactions, which has already led the conviction of one of its former bankers. The payment includes a $63.1 million fine plus

SEC says it’s worried about ‘significant’ issues with cryptocurrency ETF plans

The U.S. Securities and Exchange Commission indicated Thursday it would not be open to approving cryptocurrency exchange-traded funds until concerns related to rules aimed at protecting investors are addressed. “We believe … that there are a number of significant investor

Bitcoin briefly dips below $10,000 on Coinbase, and ethereum crashes too

Bitcoin briefly plunged below $10,000 late Tuesday afternoon on Coinbase, after first topping the psychologically key level in late November. Other major digital currencies also sold off sharply. Digital currency ethereum plunged 30 percent Tuesday, to below $1,000, while ripple

Bitcoin-crazy South Korea may face a ban on cryptocurrency trading

Bitcoin trading could soon be outlawed in one of the virtual currency’s biggest markets. The South Korean government is preparing a bill to ban trading in all cryptocurrencies including bitcoin, Justice Minister Park Sang-ki said Thursday. “There are great concerns

China’s premier says 2017 GDP growth expected around 6.9 percent

  ChinesePremierLi Keqiang said the economy is expected to have grown around 6.9 percent last year, according to the official Xinhua news agency. China’s foreign exchange reserves continued to rise last year, while the country’s corporate leverage ratio declined at

Oil prices rise to hit four-year high of $70 a barrel

The price of oil has hit $70 a barrel for the first time since December 2014. Brent crude climbed after members of Opec, the cartel of 14 oil-producing nations that accounts for 40% of the world’s output, said it would

Three rate hikes by the Fed in 2018 would be problematic for markets

The current bull run in markets would be derailed if the U.S. Federal reserve hikes rates three times this year, investing expert Michael Yoshikami told CNBC on Wednesday. That prediction comes after the latest projections from the Federal Open Market