(Bloomberg) — Federal Reserve Bank of St. Louis President James Bullard said the central bank should front-load an aggressive series of interest-rate hikes to push rates to 3.5% at year’s end, w...
Tag: Cuts
Tether Cuts Commercial Paper Reserve by 17% for Q1 2022
Tether announced that it slashed its commercial paper holdings over the first quarter to $20 billion, plans an additional 20% reduction. Tether recently reported that it reduced its commercial paper h...
Tether Cuts 17% Of Its Commercial Paper Holdings Over Q1 2022
As per the official report published on May 18, Tether, the issuer of the world’s most used stablecoin, USDT, has cut 17% of its commercial paper holdings and increased United States Treasury bills wi...
Wedbush’s Dan Ives cuts Tesla price for 2022 but expects solid 2023 for TSLA
On Thursday, May 19, Tesla (NASDAQ: TSLA) received a price cut from an analyst that has previously championed the stock through thick and thin. Wedbush’s Dan Ives changed his price target for the stoc...
Multiple Hosting Site Power Cuts Plunges Bit Digital Mining Hashrate by 46.8%
Bit Digital Inc, one of the publicly listed cryptocurrency mining companies in the United States has announced a major halt in its operations at some of its third-party hosting sites. According to the...
Bath & Body Works shares tumble as retailer cuts profit outlook due
Sale signs inside the Bath and Body Works store in Edmonton. On Thursday, January 6, 2022, in Edmonton, Alberta, Canada. Artur Widak | Nurphoto | Getty Images Bath & Body Works shares fell in afte...
Goldman Sachs cuts its China GDP forecast on Covid controls
Since March, mainland China has struggled to contain its worst Covid outbreak in two years. Notably, the metropolis of Shanghai, pictured here on May 18, only started this week to begin discussing res...
Coinbase Cuts Down Hiring After Q1 Losses Hit $420 Million
Coinbase has announced their decision to cut down hiring after losing $420 million in the first quarter. This is according to information on a blog post from Coinbase. The Start Of A Bad Year For Coin...
China’s Economy Contracts Sharply as Covid Zero Cuts Output
(Bloomberg) — China’s economy contracted in April, with Covid outbreaks and lockdowns dragging the industrial and consumer sectors down to the weakest levels since early 2020 as millions of resi...
China Cuts Mortgage Rates to Counter Collapse in Home Sales
(Bloomberg) — China’s central bank effectively cut the interest rate for new mortgages in an attempt to prop up the ailing housing market and boost the slowing economy. Most Read from Bloomberg ...
Putin Warns Finland Over Joining NATO As Russia Cuts Off Electricity
Topline Russian President Vladimir Putin warned Finland on Saturday that abandoning military neutrality to join NATO would be “wrong,” as Russia halted electricity deliveries to Finland in apparent re...
Binance Cuts Bitcoin-LUNA Perps as CZ Warns Against Algorithmic Stablecoins
Key Takeaways Binance has delisted Bitcoin-margined LUNA perpetuals in response to Terra’s death spiral. It’s also reduced the maximum leverage to 8x on USDT-margined LUNA perpetuals to 8x...
Coach owner Tapestry cuts profit outlook as China lockdowns dent demand
Customers walk past a Coach store at Shanghai New World Daimaru department store on August 12, 2019 in Shanghai, China. VCG | Visual China Group | Getty Images Coach owner Tapestry on Thursday trimmed...
Upstart shares plummet 60% after company cuts full-year revenue forecast
In this photo illustration an Upstart Holdings logo is seen on a smartphone screen. Pavlo Gonchar | SOPA Images | LightRocket | Getty Images Shares of Upstart plummeted Tuesday after the artificial in...
Purged! Nervous Putin Cuts Russian Air Force From 2022 Victory Day Parade
Security surrounds Russian President Vladimir Putin after the 2022 Victory Day Parade AFP via Getty Images In a surprise admission of unreliability, Moscow cut Russia’s Air Force from several 2022 Vic...
Oil Prices Slip as Saudi Arabia Cuts Prices and China Lockdowns Intensify
Text size Oil prices slip Monday but are still elevated. Pichit Boonhuad/Dreamstime.com Oil prices declined Monday after Saudi Arabia, the biggest exporter, reduced prices for Asia and the northwest o...
Crypto.com Cuts Card Rewards to Customers’ Dismay
Key Takeaways Crypto.com announced yesterday that it will phase out the staking rewards and lower the cashback rates on its popular prepaid Visa cards. Due to take effect on June 1, the changes will s...
Cronos (CRO) Crashes 15% Daily as CryptoCom Cuts Card Rewards
Popular cryptocurrency exchange CryptoCom has come under fire following its latest decision to slash its staking rewards. In a blog post published on Sunday, the platform revealed that effective June ...
Dexter Lumis, Dakota Kai Headline Latest Cuts
Dexter Lumis, Dakota Kai and others were released from WWE NXT on Friday. Credit: WWE.com Several WWE NXT stars have been released as WWE continues to make routine—albeit heartbreaking—cost-cuts. WWE’...
Ford cuts 580 U.S. salaried, agency workers as it restructures for EVs
Ford CEO Jim Farley at the company’s Dearborn, Michigan, plant where it’s building the electric F-150 Lightning on April 26, 2022. CNBC | Michael Wayland DETROIT – Ford Motor is cutting 58...
RobinHood Cuts Down Personnel, Stock Price Plunges To New Low
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EU scrambles to replace Russian gas as cuts prompt 20% rise in European gas prices
Gazprom PJSC announced on April 27 that they have cut gas flows to Poland and Bulgaria and will keep them off until demands for paying for the fuel in rubles are met. Russia’s abrupt announcement and...
Gazprom Cuts Gas Supplies To Poland And Bulgaria
Topline Russian energy giant Gazprom halted gas supplies to Poland and Bulgaria over their failure to pay for gas in rubles, the state-owned company announced on Wednesday, as the Kremlin retaliates a...
JetBlue shares fall after airline cuts 2022 growth plans
Technicians inspect a JetBlue Embraer 190 aircraft at Ronald Reagan Washington National Airport in Arlington, Virginia, December 7, 2021. Chris Helgren | Reuters JetBlue Airways shares tumbled more th...
Saudi Royals Are Selling Homes, Yachts and Art as Crown Prince Cuts Income
RIYADH, Saudi Arabia—Saudi princes have sold more than $600 million worth of real estate, yachts and artwork in the U.S. and Europe since the kingdom’s de facto ruler tightened the purse strings of th...
Hedge Fund Cuts China Stocks to Zero Seeing Worse Year Than 2008
(Bloomberg) — As China’s markets gyrate following Covid outbreaks and Russia’s invasion of Ukraine, one of the nation’s best-performing macro hedge funds is bracing for more pain. Most Read from...
Old Navy CEO to exit as parent company Gap cuts sales guidance
An employee hands a customer a shopping bag at an Old Navy Inc. store in San Francisco. David Paul Morris | Bloomberg | Getty Images Gap Inc. announced Thursday that the CEO of its Old Navy division, ...
JPMorgan Cuts Price Target Of Three Electrical Equipment Companies
TechCrunch Lyft doubles micromobility footprint with PBSC acquisition Lyft has signed an agreement to acquire PBSC Urban Solutions, a Canadian supplier for bikeshare equipment and technology, in a mov...
Mega-mansions suffer massive price cuts at real estate auctions
An aerial view of the grounds of Villa Firenze in Beverly Hills, California. Concierge Auctions When high-priced mega mansions for sale languish on the market — sprawling, flashy and unable to attract...
Here’s how to craft student-loan forgiveness in a way that cuts out those who don’t need help
The Federal Reserve Bank of New York on Thursday released new analyses on student loans, with one blog post focused on who would benefit from various approaches to canceling such debt — as well as eac...