U.S Pipeline Hack Could Push Prices to a 7-Year High
U.S gasoline prices could jump above $3.00 a gallon, the highest mark since 2014, according to Bloomberg. Prices were at $2.96 a gallon on Friday, as cyberattack hit the country’s…
Ether Tops $,4,000 Milestone on Growing Interest in Cryptos
Ether surpassed the $4,000 mark for the first time on Sunday night, trading at $4,058.82 at the midnight of Eastern time. Crypto enthusiast Nigel Green has predicted a price of…
China Offers Subsidies to Acquire Overseas Factories in Pursuit of Economic Conquest
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 Announces a Crypto Desk in Pursuit of Digital Asset Opportunities
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 XRP Sales Surge 97% In First Quarter
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…
Tilray Upgraded to “Buy.” Target Set at $23
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…
BofA Sounds Alarm Over Spiraling Steel Prices
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…
NFP: U.S Added 266,000 Jobs in April. Unemployment at 6.1%
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 Grows China’s Sales by More than 150%. Upgrades FY21 Outlook
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…
Citi Considers Inroads into Crypto Trading on Growing Clients’ Demands
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…
Activist Investor Bramson Sells his 6% Stake at Barclays Amid Conflicts with CEO
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…
Fed: Funding Risk Remain High as Vulnerable Liabilities Rose 13.6% in 2020
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…
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