(Reuters) – Wall Street’s main indexes inched higher in choppy trading on Wednesday as investors digested a mixed bag of quarterly earnings reports from major U.S. banks.
Goldman Sachs edged up as strength in its trading business helped quarterly profit surge 94%. Bank of America shed 4.0% after it missed revenue estimates and Wells Fargo declined 4.6% as its profit fell short of forecasts.
The S&P 500 banks index dropped 1.3% as the third-quarter earnings season took off amid improving expectations over the extent of the drop in overall profits for S&P 500 firms. Analysts now expect earnings to fall 18.9% from a year, according to
Apple finally took the wraps off the iPhone 12 series last night. This year, the Cupertino-based giant did things a bit differently like launching four iPhone variants, or putting its Super Retina XDR OLED display across the whole range. Apple announced that all the iPhone 12 models will come with 5G support, and all will be powered by the same A14 Bionic chip that Apple first introduced with the iPad Air last month. Apple has priced the new iPhone’s starting at Rs. 69,900 onwards for the iPhone 12 Mini, while the iPhone 12 costs Rs. 79,900 onwards. The iPhone 12 flagship models, the iPhone 12 Pro and iPhone 12 Pro Max have been priced at Rs. 1,19,900 and Rs. 1,29,900 onwards on Apple official online store. The
New York, October 6, 2020 (INSIDER MONKEY WIRE)– Fintech is becoming a fast-growing industry in the world today. The term is an amalgamation of the words “Finance” and “Technology” and it is associated with any business that uses technology to enhance or automate financial services and processes. As an industry, Fintech is becoming increasingly beneficial to both businesses and consumers.
In recent years, blockchain have enabled major strides in the financial technology (fintech) industry. Blockchain offers faster, cheaper transactions which are more secure and have permanent records. Blockchain also has the potential to dramatically reshape the capital markets industry with a significant impact on business models, reductions in risk and savings of cost and capital.
While AI technologies are helping financial institutions to save billions in costs incurred in service costs and also have streamlined the data analysis process. Blockchain is lowering the cost of transactions while allowing for a
OneConnect Financial Technology Co., Ltd. (NASDAQ:OCFT) fell 8.1% on Friday . The stock traded as low as $19.75 and last traded at $20.20. 775,978 shares traded hands during trading, an increase of 41% from the average session volume of 550,277 shares. The stock had previously closed at $21.99.
A number of equities analysts have recently issued reports on OCFT shares. JPMorgan Chase & Co. cut shares of OneConnect Financial Technology from an “overweight” rating to a “neutral” rating and set a $24.00 price objective on the stock. in a research report on Tuesday, July 21st. KeyCorp increased their price target on OneConnect Financial Technology from $22.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Zacks Investment Research downgraded OneConnect Financial Technology from a “buy” rating to a “hold” rating in a report on Wednesday. Three investment analysts have rated the stock
US trading firm Susquehanna reportedly owns 15% of TikTok-owner ByteDance, a stake which is potentially worth more than $15 billion.
Located just outside of Philadelphia, Susquehanna joined a $5 million investing round in ByteDance the year that it was founded, and invested in Musical.ly which later merged into TikTok.
Susquehanna is now stuck in the middle of US-China tensions as ByteDance waits for both governments to approve a deal that includes Oracle and Walmart taking a stake in the Chinese company.
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US trading firm Susquehanna quietly owns 15% of TikTok parent firm ByteDance, according to the Wall Street Journal, a stake potentially worth billions.
Susquehanna’s stake may be worth as much as $15 billion, according to PitchBook data cited by the Journal. This reportedly makes Susquehanna the biggest external investor in the Chinese social-media company. The firm is a giant in options trading,
Shares of the big data company Palantir began trading on Wednesday via a direct listing.
The New York Stock Exchange established a reference price of $7.25 per share, valuing the company at about $16 billion ahead of its official debut.
Palantir has yet to become profitable, raising questions from investors.
Palantir also has faced criticism from activists for its work with Immigration and Customs Enforcement, which the company has acknowledged poses a risk to its business — partially because yielding to the criticism might endanger its business with government clients.
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Palantir, the secretive and often-controversial big data company founded by Peter Thiel, made its public markets debut on Wednesday with a splash, as investors bid up shares and gave the company a roughly $19 billion market capitalization.
Shares of Palantir began trading on the New York Stock Exchange on Wednesday through a direct
More than a third of reptile species are bought and sold online in often-unregulated international trade, researchers said Tuesday, warning of the impact on wild populations of a pet market that puts a bounty on rare and newly discovered animals.
Even endangered species and those with small habitats—such as the speckled cape tortoise and Seychelles tiger chameleon—are bought and sold in online forums, according to the new study by researchers in Thailand and China, who found that three-quarters of trade is in species not covered by international regulation.
The market primarily caters to buyers in Europe and North America—the British Federation for Herpetologists has reported that there are more pet reptiles than dogs in Britain.
But unlike most other pets, the study found that 90 percent of traded reptile species and half of traded individuals are captured from the wild.
WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Monday proposed new rules for electronic trading platforms for U.S. Treasuries, corporate debt and municipal securities, aimed at improving transparency and operational preparedness in the world’s biggest securities market.
The proposal, which would be subject to public consultation, aims to address concerns about the shift to alternative trading systems (ATS) that trade government securities as well as the repurchase and reverse repurchase agreements on those securities.
The SEC has signaled for years that it planned to hone oversight on the fixed income market even as it put stiffer regulations in place for U.S. equity markets, which have generally been more transparent, industry advocates have said.
Country A is home to one of the oldest stock exchanges in the world where the rule of law is rock solid, and investors are afforded rigorous protections.
Country B is essentially a petrol state that ranks low on various financial freedom indexes. Its relatively recent transition to a market-based economy has been bumpy, and its embrace of democratic processes and norms has been widely criticized by human rights groups. Country B’s President, for example, recently changed the constitution to extend his rule by decades and is widely suspected of routinely poisoning his political foes.
And yet to investors, the two countries are widely indistinguishable. They’re both seen as a lousy place to sink your spare cash.