US Consumer Credit Jumps at an Annual Rate of 10% in May
(Federal Reserve) Amounts of consumer credit in the US rose at an annual rate of 10% in May, almost double April’s rate of 5.7%. Revolving credit jumped by 11.4%, up…
Virgin Galactic Stock Takes Off after Branson Makes Successful Space Flight
(Bloomberg) Virgin Galactic extended its bullish run, jumping as much as 10% following a successful space flight of founder Richard Branson on Sunday. Branson landed into the lower reaches of…
Thoma Bravo Enters into Agreement to Buy Stamps.com for $6.6 Billion
(Stamps.com) Software investment firm Thoma Bravo is set to acquire Stamps.com in an all-cash transaction of $6.6 billion. Stamps.com stockholders are set to receive $330 per share in the deal,…
China’s Inflation Slows from May Peak on Commodity Price Interventions
(Bloomberg) China’s producer price index eased to an expansion of 8.8% year over year, after May’s high of 9% on commodity price control measures and stronger dollar. Consumer prices ticked…
Mortgage Rates Hit Almost 5-Month Low of 2.9% as Covid-19 Variants Concerns Rise
(Bloomberg) Rates on a 30-year mortgage in the US slid to 2.9%, the lowest since February 18 and below 2.98% reached last week. The plunge in mortgage rate follows plunges…
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,…
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