China has offered subsidies running in billions of dollars to state-owned firms to buy overseas factories, according to Wall Street Journal. The subsidies are part of Beijing’s pursuit of economic…
Goldman Sachs has created a crypto trading desk and successfully executed two bitcoin-linked derivatives, according to CNBC. The crypto team is under the bank’s global currencies and emerging markets trading…
Ripple nearly doubled the sales of XRP in the first quarter on the back of higher engagement during the period, the firm announced in a statement. The average daily volume…
Jefferies upgraded Tilray Inc. shares to buy from underperform with a price target of $23 from $4.77, according to MarketWatch. Analyst Owen Bennett termed Tilray’s merger with Aphria Inc. as…
Bank of America sees an imminent correction in steel prices after surging to a record high of around $1,500 a ton, according to CNN Business. Analyst Timna Tanners has called…
Total nonfarm payroll employment increased by 266,000 in April, according to the Bureau of Labor statistics press release. Unemployment rate remained little changed at 6.1%, more than expected 5.8%. The…
Adidas sales in China jumped by 156% in Q121 amid boycotts against international brands by mainland consumers, according to the company’s press release. All market segments recorded growth, helping the…
Citigroup is exploring the idea to launch crypto trading, custody, and related financing services, according to The Block. The move reflects growing interest in bitcoin from the bank’s major clients…
Edward Bramson of Sherborne Investors sold all his 6% stake in Barclays PLC, according to the Wall Street Journal. The sale brought an end to Bramson’s years-long effort to reorganize…
Amounts of liabilities vulnerable to defaults, including those of nonbanks, increased about 13.6% to $17.7 trillion last year, according to the Federal Reserve press release. The vulnerabilities amount is now…
U.S banks have sailed the coronavirus pandemic well, according to the Federal Reserve press release. Bank and broker dealers have maintained low leverage, as life insurance companies and hedge funds…
U.S Federal Reserve has warned of heightened vulnerabilities from business debt despite the risk falling since mid-2020. Currently, businesses owe $17.7 trillion, after the debt rose 9.1% or about $425…