Jobless Claims Jump by 2,000 as Employment Gains Eases
(Department of Labor) US jobless claims advanced by 2,000 to hit 373,000, more than expected 350,000 for the week that ended July 3. The claims rise reflected waning rates of…
German’s Institutional Investors to Make Crypto Inroads after Regulatory Nod
(Beincrypto) Germany’s financial watchdog BaFin has allowed institutional investors to allocate up to a fifth of their assets in cryptocurrencies. The move by Germany’s regulator aims to balance the risky…
Time for Lower-Priced Coins? Cardano Holdings Surpasses Bitcoin on eToro
(City.A.M) Volume of holdings of Cardano by eToro clients grew by 51% in the second quarter, helping the cryptocurrency to surpass Bitcoin as the most held digital token. Bitcoin’s holdings…
About 20 Chinese Firms Face Bans from FTSE Russell after User Feedback
(Reuters) Index publisher FTSE Russell targets another 20 Chinese companies for removal from its indexes. The removal of Chinese firms by FTSE Russell follows user feedback relating to an updated…
Blow to Chinese Firms Targeting Foreign IPOs as Beijing Proposes Tighter Regulation
(Bloomberg) Beijing market regulators plan to thwart foreign listings of Chinese companies by introducing rules that mandate firms to seek approval. The revised rules mandate companies operating under the Variable…
Samsung’s Earnings Beat Estimates on Memory Business Strengths
(Samsung) Samsung Electronics posted an operating profit of 12.5 trillion won or $11 billion in the quarter that ended June. The earnings were better-than-expected 11 trillion won. Samsung’s earnings were…
Coinbase Target Price Elevated to $444 from $434 by Oppenheimer
(TheFly) Oppenheimer analyst Owen Lau increased the company’s price target on Coinbase to $444, keeping an Outperform rating on the firm’s stocks. The analyst expects that a record first quarter,…
Xiaomi Eyes $1 Billion from Bond Sale
(Bloomberg) Chinese smartphone maker Xiaomi Corp. is set to generate some $1 billion from a fresh bond offering, as tech firms face a crackdown in its home country. Sources close…
Nintendo Unveils Upgraded Switch Game Console
(Nintendo.com) Nintendo has unveiled a new Switch game console with a more colorful and brighter OLED screen. The new version of Switch game console will retail at $349.99 starting on…
Wise Valued at $11 Billion in Direct Listing — A Big Win in London
(CNBC)The British fintech company Wise starts off strongly in its highly anticipated IPO, which gave the company a market valuation of $11 billion. The money transfer company chose to list…
Pentagon Cancels Microsoft-only $10B JEDI Contract. Fresh Award to Include Amazon
(Bloomberg) The $10 billion JEDI cloud computing contract with Microsoft has been canceled, and the tech giant will be joined by Amazon.com in a new award. The US Defense Department…
Tencent Revamps Investment in Gaming Firms to Keep off Rivals
(Yicai) Mobile game vendor Tencent Holdings invested in at least one gaming company every seven days to keep off competitors. The Chinese internet giant, which ranks as the world’s largest…
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