Stock markets
China misses fourth-quarter GDP estimates, resumes posting youth unemployment data
Construction at China Vanke Co.’s Isle Maison development in Hefei, China, on Monday, Nov. 27, 2023. Bloomberg | Bloomberg | Getty Images BEIJING — China missed fourth-quarter GDP estimates on Wednesday, while it resumed reporting the unemployment rate for young people. The National Bureau of Statistics said that excluding people still in school, the unemployment […]
China’s economic growth is set to slow in 2024. Here’s what Wall Street is predicting
MEISHAN, CHINA – JANUARY 15: A textile worker works at the workshop of Sichuan Renshou Jin’e Textile Co., Ltd. on January 15, 2024 in Meishan, Sichuan Province of China. (Photo by Pan Jianyong/VCG via Getty Images) Vcg | Visual China Group | Getty Images BEIJING — Major international investment banks expect China’s economy to grow […]
Morgan Stanley revenue tops estimates, helped by strong investment banking business
The Morgan Stanley headquarters is seen in New York City on Jan. 17, 2023. Michael M. Santiago | Getty Images Morgan Stanley on Tuesday reported fourth-quarter revenue that surpassed expectations, boosted by the strength in investment banking. Here’s how the bank did compared with Wall Street expectations: Earnings per share: 85 cents, may not compare […]
China’s premier tells Davos that innovation shouldn’t be used to restrict other nations
China’s Prime Minister Li Qiang (L) waves as Swiss President Viola Amherd looks on during an official visit in Kehrsatz, near Switzerland’s administrative capital Bern on January 15, 2024. Li Qiang, is visiting Switzerland to attend the 54th World Economic Forum Annual (WEF) which is taking place from January 14-19 in Davos. (Photo by PETER […]
Why spot ETFs may be a game changer for bitcoin
The Securities and Exchange Commission’s approval of 11 spot bitcoin ETFs this week could be a turning point for cryptocurrency investing. Ark Invest CEO and Chief Investment Officer Cathie Wood is behind one of the new ETFs. Her firm partnered with 21Shares to launch the ARK 21Shares Bitcoin ETF. “We really believe this is an […]
Bill Ackman is creating an activist organization to fight antisemitism, reform higher education
Hedge fund billionaire Bill Ackman, who recently fought a high-profile battle against Harvard University, said Friday that he’s starting an activist organization to fight antisemitism and reform higher education. “It’s going to be a ‘think-and-do tank’. It’s going to be an activist,” Ackman said in an interview with CNBC’s Andrew Ross Sorkin on “Squawk Box.” “I’m […]
Wells Fargo posts higher fourth-quarter profit, helped by higher interest rates and cost cutting
Wells Fargo shares fell Friday even after fourth-quarter profit rose from a year ago, as the bank warned that net interest income for 2024 could come in significantly lower year over year. “As we look forward, our business performance remains sensitive to interest rates and the health of the U.S. economy, but we are confident […]
Chinese rival to Apple’s Vision Pro raises $70 million, doubles down on new strategy to win consumers
This picture taken on September 22, 2023 shows a Rokid employee demonstrating an augmented reality helmet at the company’s office at the 2022 Asian Games host city Hangzhou, in China’s eastern Zhejiang province. From autonomous bug zappers to android pianists and driverless ice cream trucks, machines rule the world, at least at China’s Asian Games. […]
China posts higher-than-expected exports growth in December
Containers sit at the Yangshan Port in Shanghai, China, Aug. 6, 2019. Aly Song | Reuters BEIJING — China’s exports rose more than expected in December, but failed to offset an overall decline for 2023, customs data showed Friday. Exports rose by 2.3% year on year in U.S. dollar terms last month, more than the […]
Coinbase, Robinhood shares rise as bitcoin ETF approval adds credibility to cryptocurrency industry
SAN ANSELMO, CALIFORNIA – JUNE 06: In this photo illustration, the Coinbase logo is displayed on a screen on June 06, 2023 in San Anselmo, California. The Securities And Exchange Commission has filed a lawsuit against cryptocurrency exchange Coinbase for allegedly violating securities laws by acting as an exchange, a broker and a clearing agency […]