Courtney Lee #5 and Chandler Parsons #25 of the Houston Rockets come together during their game at Staples Center on April 6, 2012 in Los Angeles, California. Andrew D. Bernstein | National Basketball Association | Getty Images Former Morgan Stanley advisor Darryl Cohen was arrested on Thursday morning for allegedly defrauding current and former NBA … Read more
Sopa Images | Lightrocket | Getty Images Nike continues to draw in sneaker fans and activewear lovers. The retailer reported revenue of $12.4 billion for its third fiscal quarter of 2023, beating analysts’ predictions of $11.47 billion, according to Refinitiv consensus estimates. The company also reported earnings per share (EPS) of $0.79, compared with the … Read more
Fed chair Jerome Powell at yesterday’s news conference. Photo: Alex Wong/Getty Images On Wednesday afternoon, the Federal Reserve didn’t just raise interest rates for the ninth straight time in the face of a banking crisis. It also affirmed that its plans for the year remain more or less intact, and that nearly all of its … Read more
Stocks were higher early Thursday afternoon after the Federal Reserve on Wednesday signaled its rate hiking campaign may be nearing an end amid concerns about stability in the global banking system. Near 12:10 p.m. ET on Thursday, the S&P 500 (^GSPC) was up 1.5%, the Dow Jones Industrial Average (^DJI) higher by 1.2%, and the … Read more
As private credit investors comb through the $74bn loan portfolio of Silicon Valley Bank, they are finding vast portions that are not all appealing. The Federal Deposit Insurance Corporation is auctioning the loan book and other parts of the California lender after a bank run led to its collapse this month. After failing to find … Read more
London(CNN) The Bank of England hiked interest rates by a quarter of a percentage point Thursday, extending its long-running fight to rein in prices after a surprise increase in inflation in February. The central bank’s 11th consecutive rate hike takes benchmark borrowing costs to 4.25%, the highest since October 2008. Like other major central banks, … Read more
March 23 (Reuters) – The Bank of England on Thursday followed the Federal Reserve and the Swiss National Bank in hiking interest rates, as policymakers ploughed on with their fight against inflation in the face of the instability that rippled through the global banking system this month. Investors had questioned whether the central banks could … Read more
Comment on this story Comment Two more people have died in the United States after being infected by Pseudomonas aeruginosa, a drug-resistant bacterium that has been linked to eyedrops, according to the Centers for Disease Control and Prevention, bringing the death count to three. The outbreak has also been connected to eight recent reports of … Read more
Regional bank stocks looked set to rebound early Thursday as the market digested remarks made by Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen. Citigroup (ticker: C) CEO Jane Fraser added her vote of confidence into the mix, as she said the banking system is “pretty sound,” at the Economic Club of Washington … Read more
Comment on this story Comment The Securities and Exchange Commission said Wednesday it had charged a handful of celebrities — including the internet provocateur-turned-professional boxer Jake Paul and actress Lindsay Lohan — with promoting cryptocurrencies without disclosing that they were compensated for doing so. Paul, Lohan, the former teen heartthrob Austin Mahone and the rapper … Read more