Coinbase Inc. Chairman and Chief Executive Officer Brian Armstrong, board member Marc Andreessen and other officers avoided more than $1 billion in losses by using inside information to sell stock within days of the cryptocurrency platform’s public listing two years ago, before bad news sent the share price tumbling, according to a lawsuit filed by…
North Asia’s export powerhouses continued to stutter in April amid sluggish global trade and a patchy economic recovery in China, according to new data that amplified concerns about the risk of a global recession. Factories in South Korea and Taiwan saw activity contract last month, according to surveys published Tuesday by S&P Global. Manufacturing purchasing…
MILAN, May 2 (Reuters) – Italian Design Brands (IDB), a hub of Italian furniture and lighting companies, said on Tuesday it was carrying on with plans to list on the Milan bourse as a new investor acquired a majority stake in its parent company. Merchant bank Tamburi Investment Partners (TIP.MI) said late on Monday it…
May 1 (Reuters) – Regulators seized First Republic Bank (FRC.N) and sold its assets to JPMorgan Chase & Co (JPM.N) on Monday, in a deal to resolve the largest U.S. bank failure since the 2008 financial crisis and draw a line under a lingering banking turmoil. First Republic was among regional U.S. lenders most battered…
JPMorgan Chase CEO Jamie Dimon’s assertion that recent turmoil in the banking sector was effectively ended by the resolution of First Republic may be premature, one analyst suggested. The Wall Street giant won a weekend auction for the embattled regional lender after it was seized by the California Department of Financial Protection and Innovation, and…
Artificial Intelligence is booming right now — with some analysts saying it’s the most important theme for Big Tech this year. New AI-based products and technologies are constantly appearing, and their impact will only grow from here, including in the world of finance. You might expect a chatbot to reply when you try to contact…
Tesla hiked the price of several cars in key markets, including the U.S. and China, after a number of cuts this year. Elon Musk’s electric vehicle company increased the price of vehicles including its Model 3 and Model Y in the U.S., China, Canada, and Japan. In China, Tesla’s Model 3 now costs 231,900 Chinese…
Today’s artificial intelligence systems are akin to the dial-up internet of yesteryear, according to the CEO of one AI startup, who said the space is in need of a reality check. Sachin Duggal, co-founder, and CEO of Builder.ai, told CNBC Friday that we’ve only just begun to imagine what’s possible with AI. “We’re only in…
The headline inflation rate in the euro zone rose in April, according to preliminary data released Tuesday, remaining significantly above levels targeted by the European Central Bank but core price growth showed a surprise slowing. Headline inflation came in at 7% for last month, according to Eurostat, after it dropped to 6.9% in March. At…
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