News

Michael Milken says the Fed won’t move too early and risk massive inflation like the 1970s

The famed investor expects the central bank will be sure to tamp out inflation before starting to lower rates so as to avoid a repeat of the 1970s.

Warren Buffett's Berkshire Hathaway continues to sell HP shares, reducing stake to 5.2%

Berkshire still owns 51.5 million shares of HP. The position is worth about $1.6 billion based on Monday's close of $30.37.

Regulators caught Wells Fargo, other banks in probe over mortgage pricing discrimination

Wells Fargo, until recently the biggest player in U.S. mortgages, has repeatedly felt regulators' wrath over missteps involving home loans.

SumUp, a rival to Jack Dorsey's Block, defies fintech funding slump with $307 million cash injection

Payments startup SumUp, known for its tiny card readers, announced it has raised $306.6 million in a round valuing the company north of $8.6 billion.

Macy's receives $5.8 billion buyout offer, sources say

The offer values the retailer at $21 per share, according to the sources. Macy's closed at just over $17 a share on Friday.

China's livestream shopping is booming, fueling new tech such as avatars and AI

Livestreaming is cementing itself as a growing sales channel in China, driving new tech products such as virtual human streamers and mobile data packages.

EU agrees to landmark AI rules as governments aim to regulate products like ChatGPT

EU institutions spent the week hashing out proposals to come up with an agreement on how to regulate tools like ChatGPT.

Geopolitics and central banks could keep gold demand hot in 2024, World Gold Council says

A combination of geopolitical tensions and continued central bank buying should see gold demand remain resilient next year, according to the World Gold Council.

Morgan Stanley and Wells Fargo are making headlines. Here’s our take on the news

Recent news reports shed light on how our financial names are pushing forward amid a tough operating environment.

QR codes may be a gateway to identity theft, FTC warns

The digital codes have become popular. But thieves are also using them to steal your personal data, the Federal Trade Commission warned.

Robinhood launches crypto trading service in the EU

Robinhood on Thursday launched its crypto service in the European Union, allowing users to buy and sell a range of over 25 digital currencies.

Wall Street CEOs say proposed banking rules will hurt small businesses, low-income Americans

The heads of America's largest banks, including JPMorgan Chase, Bank of America and Goldman Sachs are seeking to dull the impact of the new rules.
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