Business and Finance

Chinese tech giant Tencent released its quarterly results on Wednesday. Nurphoto | Nurphoto | Getty Images BEIJING – Chinese tech giant Tencent reported better-than-expected quarterly revenue on Wednesday, helped by ad growth within its growing “video accounts” business. Overall revenue for the quarter ended Dec. 31 was 144.95 billion yuan ($21.07 billion), higher than the …

Tencent’s online ad revenue increases for the first time since 2021 Read More »

A major Wall Street firm ranks financial instability over inflation as the biggest economic risk for the next three months. In an interview following the Federal Reserve’s quarter-point interest rate hike, Michael Schumacher of Wells Fargo Securities suggested that policymakers are underestimating how rapidly tightening credit conditions could hurt the economy. “The Fed doesn’t really …

Financial instability as the main market risk: Wells Fargo Read More »

Cryptocurrency industry insiders are predicting bitcoin could hit a new all-time high in 2023 and possibly reach $100,000. This comes after a noted investor bet that the digital currency could hit $1 million in 90 days. Chris Ratcliffe | Bloomberg | Getty Images Bitcoin has risen almost 70% so far this year – and industry …

Insiders say BTC could test new highs in 2023 Read More »

The US Secretary of the Treasury testifies before the Senate Appropriations Subcommittee on Financial Services March 22, 2023 in Washington, DC. Win Mcnamee | Getty Images WASHINGTON — Federal banking regulators aren’t considering any plans to insure all U.S. bank deposits, Treasury Secretary Janet Yellen told members of a Senate appropriations subcommittee on Wednesday. Several …

Yellen says general bank deposit insurance not discussed Read More »

General MotorsSelf-driving vehicle unit Cruise has acknowledged that some of its cars stalled on city streets in San Francisco following thunderstorms that knocked down trees there on Tuesday night. A witness to the failures of the Cruise robotaxi, John-Phillip Bettencourt, shared photos of the broken down vehicles on Twitter. He told CNBC that around 1:45 …

Cruising robotaxis blocked a road in San Francisco after the storm Read More »

A pedestrian walks past the Biogen Inc. headquarters in Cambridge, Massachusetts, U.S., Monday, June 7, 2021. Adam Glanzman | Bloomberg | Getty Images On Wednesday, the Food and Drug Administration’s panel of independent advisors voted against the effectiveness of biogenic experimental ALS drug for a rare and aggressive form of the disease. The drug tofersen …

FDA advisers vote against effectiveness of Biogen’s ALS drug Read More »

A pedestrian walks past the Biogen Inc. headquarters in Cambridge, Massachusetts, U.S., Monday, June 7, 2021. Adam Glanzman | Bloomberg | Getty Images On Wednesday, the Food and Drug Administration’s panel of independent advisors voted against the effectiveness of biogenic experimental ALS drug for a rare and aggressive form of the disease. The drug tofersen …

FDA advisers vote against effectiveness of Biogen’s ALS drug Read More »

In this photo illustration the Coinbase logo seen displayed on a smartphone screen. Raphael Henrique | SOPA Images | Light flare | Getty Images The Securities and Exchange Commission published a crypto exchange Coinbase a Wells notice, warning the company that it has identified potential violations of US securities law. “Based on discussions with staff, …

Coinbase Warned by SEC of Potential Securities Charges Read More »

A general view of Cosmic Girl, a converted Boeing 747 carrying the LauncherOne rocket under its left wing, as final preparations are made at Cornwall Newquay Airport on January 9, 2023 in Newquay, United Kingdom. Matthew Horwood | Getty Images pristine orbit is in final talks to raise funds from Texas-based investor Matthew Brown, two …

Virgin Orbit nears $200 million deal as early as Thursday Read More »

WASHINGTON — The Federal Reserve on Wednesday decreed a quarter-percentage-point hike in interest rates, expressing caution over the recent banking crisis and signaling that the hikes are coming to an end. Along with its ninth hike since March 2022, the Federal Open Market Committee responsible for setting rates noted that future increases are not assured …

Fed rate hike decision in March 2023: Read More »