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“Euro falls below parity with dollar amid surging inflation” The euro fell below the dollar for the first time in two decades before inching back above parity after data on Wednesday showed US consumer price inflation surged to a more than 40-year high in June. The single currency plunged to $0.9998 against the greenback on…
“Elon Musk terminates $44 billion Twitter deal” Tesla Chief Executive Officer Elon Musk said on Friday he was terminating his $44 billion deal for Twitter, saying that the social media company had failed to provide information about fake accounts on the platform. Shares of Twitter fell 6% in extended trading to $34.58. The stock had zoomed to $51.70 when…
“Elon Musk’s $44B Twitter deal in jeopardy over fake accounts” Elon Musk may soon walk away from his $44 billion agreement to buy Twitter because he believes he does not have enough information to determine the level of fake accounts, according to published reports Thursday. The world’s richest man claims Twitter’s spam accounts are not…
” Contagion: Genesis faces huge losses, BlockFi’s $1B loan, Celsius’s risky model “ It’s been another day of watching the ripples of contagion spread through the crypto market. With Three Arrows Capital being ordered into liquidation by a British court, details have also emerged today of BlockFi liquidating a $1B loan to 3AC, and the…
“Dow jumps more 800 points as Wall Street as rate fears ease” Wall Street’s main indexes jumped sharply on Friday in a broad rally as signs of slowing economic growth and a recent pullback in commodity prices tempered expectations for the Federal Reserve’s rate-hike plans. The Dow Jones Industrial Average surged 823.32 points, or 2.7%, to…
“NYC Uber prices are the latest excuse to work from home” A fresh excuse for not coming into the office is making the rounds across the Big Apple: the price of an Uber. While New York City employees have griped for more than a year about the dangers of taking the subway to work, a…
“Robinhood stock plummets, now worth less than cash on hand” Robinhood shares hit a new low this week that pushed the company’s market capitalization below the value of its cash on hand. The brokerage app, once a darling of the tech industry, has slumped to roughly $7 per share — an 80% decline since its…
“Dow futures fall 500 points after Fed’s sharp rate hike” Dow futures fell by some 500 points before the market opened on Thursday as Wall Street appears poised to give up some of the gains made after Fed Chair Jerome Powell announced sharp interest rate hikes to combat inflation. S&P 500 futures fell by some…
“Vitamin Shoppe owner doubles down on $8B Kohl’s buyout: source” The boss of the company that owns Vitamin Shoppe has been telling investors this week he still aims to buy the struggling department store chain despite skepticism from Wall Street, The Post has learned. Brian Kahn, CEO of the Franchise Group, has been reiterating in…
“Wall Street’s favorite recession indicator is flashing red” A closely watched recession predictor in the bond market just flashed red, spurring fresh concern that the US economy is on track for a downturn this year as a result of the Federal Reserve’s war on inflation. The spread between the 2-year and 10-year Treasury yields inverted this week…