WASHINGTON — A bipartisan group of lawmakers overseeing the recent turmoil in the banking sector said Wednesday that they aim to increase Americans’ confidence in the banking industry after Silicon Valley Bank and Signature Bank collapsed over the last two weeks. The two House and Senate committees that oversee banking […]
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Stocks making the biggest moves midday: Block, Deutsche Bank, GameStop, Activision and more
Jack Dorsey, chief executive officer of Square Inc., second right, tours the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, Nov. 19, 2015. Yana Paskova | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Block — Shares shed nearly […]
Blue Origin says an overheated engine part caused last year’s cargo rocket failure
The moment of the anomaly during the New Shepard cargo mission NS-23, in which the booster’s engine failed. Blue Origin Jeff Bezos’ space company Blue Origin released findings from an investigation into the failed flight of a cargo mission last year, which it says was due to an issue in […]
Luminar CFO defends lidar maker’s pricing and revenue in the wake of a Goldman downgrade
A Mercedes-Benz van retrofitted with different types of lidar systems, including Luminar’s Iris, to showcase the differences in the technologies. Michael Wayland / CNBC Lidar maker Luminar Technologies, stung by a recent Wall Street downgrade, is responding in an unusual way: taking its case directly to the shareholders. In a […]
Secondhand resale is getting cutthroat as platforms like Depop and Poshmark boom
The Depop application on a smartphone arranged on Wednesday, June 2, 2021. Gabby Jones | Bloomberg | Getty Images Six months after launching his secondhand clothing shop on digital marketplace Depop in 2020, Blake Robertson, a 15-year-old high schooler at the time, received a death threat from a customer. It […]
Deutsche Bank is not the next Credit Suisse, analysts say as panic spreads
A general meeting of Deutsche Bank Arne Dedert | picture alliance | Getty Images Deutsche Bank shares slid Friday while the cost of insuring against its default spiked, as the German lender was engulfed by market panic about the stability of the European banking sector. However, many analysts were left […]
Europe’s leaders battle banking crisis as market rout hangs over Brussels summit
Germany’s Chancellor Olaf Scholz said Deutsche Bank is profitable after shares dipped more than 10% during European trading. Ludovic Marin | Afp | Getty Images BRUSSELS — European leaders on Friday were keen to stress that the region’s banking sector was stable and sound following Deutsche Bank‘s sudden slide as […]
Deutsche Bank shares slide 11% after sudden spike in the cost of insuring against its default
Deutsche Bank shares fell by more than 11% on Friday following a spike in credit default swaps Thursday night, as concerns about the stability of European banks persisted. The German lender’s Frankfurt-listed shares retreated for a third consecutive day and have now lost more than a fifth of their value […]
Sam Altman didn’t take any equity in OpenAI, report says
Sam Altman, president of Y Combinator, pauses during the New Work Summit in Half Moon Bay, California, U.S., on Monday, Feb. 25, 2019. David Paul Morris | Bloomberg | Getty Images OpenAI’s ChatGPT unleashed an arms race among Silicon Valley companies and investors, sparking an A.I. investment craze that proved […]
British regulator softens stance on Microsoft-Activision deal competition concerns
An Activision Blizzard’s Call of Duty: Modern Warfare video game is inserted into the Microsoft’s Xbox One video game console arranged in Denver, Colorado, on Wednesday, Jan. 19, 2022. Michael Ciaglo | Bloomberg | Getty Images The U.K.’s Competition and Markets Authority on Friday said it has narrowed the scope […]