After years of delay, Ethereum is set to migrate to a proof-of-stake consensus mechanism this month, reducing the energy consumption needed to run the blockchain. This will have a big impact on NFTs...
Tag: Breaking news
August 2022 jobs report:
Nonfarm payrolls rose solidly in August amid an otherwise slowing economy, while the unemployment rate ticked higher as more workers rejoined the labor force, the Bureau of Labor Statistics reported F...
Nvidia, Okta, Five Below, Bed Bath & Beyond and more
A Nvidia logo is seen on the company’s building at an industry park on February 7, 2019 in Tianjin, China. VCG | Visual China Group | Getty Images Check out the companies making headlines in mid...
Jobless claims total 232,000, the lowest level in two months
Initial filings for unemployment insurance fell to their lowest level since late June last week, a sign that the labor market is resilient amid a slowing economy. Claims totaled 232,000 for the week e...
Private payrolls grew by just 132,000 in August
A hiring sign is seen in a cafe as the U.S. Labor Department released its July employment report, in Manhattan, New York City, August 5, 2022. Andrew Kelly | Reuters Companies sharply slowed the pace ...
JOLTS July 2022:
A “Now Hiring” sign is posted at a Home Depot store on August 05, 2022 in San Rafael, California. Justin Sullivan | Getty Images There were nearly 1 million more job openings than expected...
Fed’s Mester sees benchmark rate above 4% and no cuts at least through 2023
Loretta Mester at Jackson Hole, Wyoming David A. Grogan | CNBC Cleveland Federal Reserve President Loretta Mester said Wednesday she sees interest rates rising considerably higher before the central b...
Fed’s Williams pushes back on expectations of a rate cut next year
John Williams, chief executive officer of the Federal Reserve Bank of New York, speaks at an event in New York, November 6, 2019. Carlo Allegri | Reuters New York Federal Reserve President John Willia...
Pow! Right in the ticker, Fed chair sends markets lower: This week in markets
Crypto markets fell at the end of the week in what appeared to be a reaction to Fed Chair Jerome Powell’s speech in Wyoming. Bitcoin was down 4.98% over the past seven days at the time of writi...
Fed rate hikes won’t curb inflation if spending stays high, paper says
John C. Williams, president and chief executive officer of the Federal Reserve Bank of New York, Lael Brainard, vice chair of the Board of Governors of the Federal Reserve, and Jerome Powell, chair of...
Stocks making biggest midday moves: Netflix, Bristol-Myers and more
The Netflix logo is seen on a TV remote controller, in this illustration taken January 20, 2022. Dado Ruvic | Reuters Check out the companies making headlines in midday trading. Catalent Inc. – Shares...
Affirm, Electronic Arts, Dell, Seagen and more
Electronic Arts (EA) signage is displayed on the back of a chair at the company’s campus in Burnaby, British Columbia, Canada. Ben Nelms | Bloomberg | Getty Images Electronic Arts (EA) signage i...
Watch Federal Reserve Chair Jerome Powell speak live at Jackson Hole
[The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell delivers a speech at the central bank’s ...
Powell warns of ‘some pain’ ahead as Fed fights to lower inflation
Federal Reserve Chairman Jerome Powell delivered a stern commitment Friday to halting inflation, warning that he expects the central bank to continue raising interest rates in a way that will cause &#...
Ulta, Affirm, Marvell and more
Pedestrians walk past a Gap Inc. store in Shanghai, China. Qilai Shen | Bloomberg | Getty Images Check out the companies making headlines in extended trading. Affirm — The buy-now-pay-later darling...
Pending home sales drop 1% in July
A sign is posted in front of a home for sale on July 14, 2022 in Corte Madera, California. Justin Sullivan | Getty Images Pending home sales, a measure of signed contracts on existing homes, slipped 1...
FDIC issues cease-and-desist letters to FTX US, other crypto firms over deposit insurance
The Federal Deposit Insurance Corporation (FDIC) has issued cease-and-desist letters to FTX US and four other crypto companies for allegedly making “false and misleading statements” about ...
FTX grew revenue 1,000% during the crypto craze: Leaked financials
Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, speaks during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, US, o...
Kohl’s (KSS) reports Q2 2022 earnings
People walk near a Kohl’s department store entranceway on June 07, 2022 in Doral, Florida. Joe Raedle | Getty Images Kohl’s on Thursday again slashed its financial forecast for the year, s...
Jobless claims edge lower as Fed looks to cool labor market
A “We’re Hiring” sign is posted at a Target store on August 05, 2022 in San Rafael, California. Justin Sullivan | Getty Images Initial filings for unemployment benefits declined slig...
SEC files suit against Dragonchain over $16.5 million ICO
The Securities and Exchange Commission has hit yet another 2017 initial coin offering with legal action. On August 16, the SEC filed a complaint against several business entities surrounding Dragoncha...
Fed minutes July 2022:
Federal Reserve officials at their July meeting indicated they likely would not consider pulling back on interest rate hikes until inflation came down substantially, according to minutes from the sess...
Retail sales July 2022:
Shoppers leave a Nordstrom store on May 26, 2021 in Chicago, Illinois. Scott Olson | Getty Images Retail activity was flat in July as falling fuel prices held back gas station sales and consumers turn...
Walmart, Bed Bath & Beyond, Zoom, Ally and more
Vehicles pass a Walmart store in Torrance, California, on Sunday, May 15, 2022. Bing Guan | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Walmart, Home Depot — T...
BitGo says it will seek over $100 million after Galaxy moves to end acquisition
BitGo has hit back against Galaxy Digital, which announced earlier Monday the termination of its plan to acquire the crypto custody firm. In a statement shared with The Block, BitGo said it “int...
Galaxy Digital terminates its acquisition of BitGo
Galaxy Digital announced on Monday morning that it had terminated its long-awaited acquisition of crypto custodian BitGo. It said in a release that it had made the decision following BitGo’s &#...
Goldman sees a ‘feasible but difficult path’ for the Fed to defeat inflation without a recession
Construction workers outside the Marriner S. Eccles Federal Reserve Building, photographed on Wednesday, July 27, 2022 in Washington, DC. Kent Nishimura | Los Angeles Times | Getty Images The Federal ...
Peloton says it’s slashing 780 jobs, closing stores and hiking prices
Peloton told employees Friday that it is slashing roughly 780 jobs, closing a significant number of its retail stores and hiking the prices on some of its equipment in a bid to cut costs and become pr...
BlackRock launches private trust offering direct bitcoin exposure
Investment manager BlackRock has launched a private trust offering US-based institutional clients exposure to spot bitcoin. The trust will be available to US-based institutional clients and will be Bl...