News

Citadel's Ken Griffin says Trump's tariffs could lead to crony capitalism

"I am gravely concerned that the rise of tariffs puts us on a slippery slope towards crony capitalism," the billionaire investor said.

CFPB expands oversight of digital payments services including Apple Pay, Cash App and PayPal

The most popular apps covered by the rule collectively process more than 13 billion consumer payments a year, the CFPB said.

Baidu posts 3% drop in third-quarter revenues, beating market expectations

Beijing-based Baidu operates one of the major web browser search engines in China, along with a frequently used maps app.

U.S. 'industrial renaissance' is fueling a rebound in fundraising, Apollo CEO Marc Rowan says

Capital raising activity is set for a rebound in the U.S. amid a global "industrial renaissance," Oaktree Capital Management Co-Chairman Howard Marks says. 

Visa and Mastercard execs grilled by senators on 'duopoly,' high swipe fees

Senate Judiciary Committee members say the 'duopoly' has left retailers with no ability to negotiate high interchange fees.

Fintech unicorns are watching Klarna's debut for signs of when IPO window will reopen

Financial technology unicorns aren't in a rush to go public even after buy now, pay later firm Klarna filed for a U.S. IPO.

Women prefer to play mobile games. China's Tencent sees an opportunity

Tencent is betting on a rise in female players worldwide for its mobile game Honor of Kings, which rolled out to the U.S. and other countries in June.

Elon Musk endorses Trump's transition co-chair Howard Lutnick for Treasury secretary

Elon Musk posted on X his endorsement of the billionaire CEO of Cantor Fitzgerald on Saturday.

How to protect your portfolio against risks tied to President-elect Trump's tariff agenda

Astoria Portfolio Advisors CEO John Davi said he thinks the new administration's policies could be "very inflationary."

China set to report retail sales and industrial production data for October

The National Bureau of Statistics is scheduled Friday to release data showing a pickup in growth in October from September.

Powell says the Fed doesn't need to be 'in a hurry' to reduce interest rates

"The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully," Powell said.

Watch Fed Chair Powell speak live to business leaders in the Dallas area

The appearance comes one week after policymakers again voted to lower their key interest rate by a quarter percentage point.
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