Fuel is a problem for business and consumers – Why prices are so high

A sign displays gas prices at a gas station on May 10, 2022 in San Mateo County, California. Liu Guanguan | China News Service | Getty Images The surge in gasoline prices is impossible to miss and at the top of consumers’ minds as large billboards announce that gas now costs $ 4, or $ … Read more

5 things to know before the stock market opens Thursday, May 19

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Dow set to open lower after its worst day since 2020 on inflation worries A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, US, May 18, 2022. … Read more

Tether (USDT) redemptions fuel fears about stablecoin’s backing

Tether has faced repeated calls for a full audit of its reserves. Justin Tallis | AFP via Getty Images Investors have withdrawn more than $ 7 billion from tether since it briefly dropped from its dollar peg, raising fresh questions about the reserves underpinning the world’s largest stablecoin. Tether’s circulating supply has slipped from about … Read more

Elon Musk and Twitter: Now It’s Personal and Ugly

It’s a saga that keeps markets and social networks in suspense. Since Elon Musk announced on April 4 that he owned 9.2% of Twitter (TWTR) – Get Twitter, Inc. Report and nine days later launched a $ 44 billion bid to acquire the microblogging platform, the many twists and turns in the story have come … Read more

‘No longer just a payments company’

Twitter CEO Jack Dorsey addresses students during a town hall at the Indian Institute of Technology (IIT) in New Delhi, India, November 12, 2018. Anushree Fadnavis | Reuters Block executives no longer want the firm to be seen as a payments pure play. The San Francisco-based company held its first investor day in five years … Read more

Investment adviser Allianz Global Investors US charged with $ 5 billion fraud

A monitor displays Allianz Global Investors GmbH signage on the floor of the New York Stock Exchange (NYSE) in New York. Michael Nagle | Bloomberg | Getty Images Bus drivers, subway conductors and religious and charitable organizations nationwide lost over $ 5 billion when a Covid-induced stock market collapse crushed private investment funds linked to … Read more

5 things to know before the stock market opens Wednesday, May 18

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Stock futures fall as inflation claims another retailer Traders on the floor of the NYSE, May 17, 2022. Source: NYSE US stock futures dropped Wednesday as rising inflation slammed another retailer. Target sank 24% in the premarket, … Read more

Shopee, Garena post strong revenue

Shares of Southeast Asia’s e-commerce and gaming firm Sea Group popped up after its first-quarter revenue beat analysts’ expectations on Tuesday. Sea’s US-listed shares rose 14% to close at $ 80.21 after the of the Singapore-based internet firm reported revenue that exceeded analysts’ expectations in the first quarter this year. Here’s how the New York … Read more

As inflation slows and ruble rallies, Russia is hoping to avoid a crisis

Russian President Vladimir Putin. Pool | Reuters Russia believes it has swerved a financial crisis as its currency rallies and economic data improves, but strategists say the numbers mask some ugly truths for Moscow. Although inflation in the country is running hot, there are signs that price rises are slowing and will continue to do … Read more

What Walmart and Home Depot Earnings Tell Us About Consumer Spending

With inflation at the highest level in decades, investors have been eager for clues about how that affects consumer spending. Following Tuesday’s solid retail sales data, and two very different earnings quarters from Walmart and Home Depot , the answer to how Americans are dealing with higher prices is still unclear — for now. Wednesday’s … Read more