News

Fed's Mester still expects rate cuts this year, but rules out May

The central bank official noted progress made on inflation while the economy has continued to grow.

SEC Chair Gary Gensler signals that disclosure will be a key issue in the year ahead

SEC Chair Gary Gensler kicked off the annual "SEC Speaks" conference Tuesday, providing an in-depth look at the agency's priorities for the coming year.

Swiss banking giant UBS to launch share buyback of up to $2 billion

UBS on Tuesday announced a new share repurchase program of up to $2 billion, with up to $1 billion of that total expected to take place this year.

Xiaomi shares pop 15% after the Chinese smartphone maker launches its first EV

Shares of Xiaomi surged 15% when the Hong Kong market opened Tuesday, the first trading day since the company launched its SU7 electric car ahead of the Easter holiday.

Why Goldman Sachs is helping its clients launch ETFs

Firms should offer ETF products because investor demand is not slowing down, according to one Goldman Sachs ETF expert.

Fed must get 'more aggressive' with rate cuts due to weakening jobs market, Canaccord's chief market strategist says

The Fed may have new incentives in the second quarter to cut rates deeper this year.

Bitcoin could soar to $150,000 this year, hedge fund manager Mark Yusko predicts

Investors should have at least 1% to 3% allocated to bitcoin in their portfolios, Morgan Creek Capital Management CEO Mark Yusko says.

Huawei's profit doubled in 2023 as smartphone, autos business picked up

Chinese telecommunications company Huawei said Friday its net profit for 2023 more than doubled thanks to better product offerings.

Xiaomi releases electric car $4k cheaper than Tesla's Model 3 as price wars heat up

Chinese smartphone company Xiaomi said Thursday it will sell its first car for far less than Tesla's Model 3, as price wars heat up in China's fiercely competitive electric car market.

UBS chief's surprise return to the Swiss banking giant bagged him a $15.9 million paycheck

UBS CEO Sergio Ermotti earned 14.4 million Swiss francs ($15.9 million) in 2023 after his surprise return to the helm of the Swiss banking giant.

China's economy is on track for 'strong' March performance, survey says

China's economy is ending the first quarter on a "strong" note, according to a business survey published by the China Beige Book on Thursday.

Crypto is ‘like cayenne pepper’ for investors, money manager says: 'A little goes a long way'

Investors who hold cryptocurrency like bitcoin only need to allocate a small share of their money to the digital assets to reap benefits, experts say.
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