Three Arrows Capital (3AC) faces deadline to repay loans or default

Three Arrows Capital (3AC) faces deadline to repay loans or default

Billions of dollars of value have been wiped off the cryptocurrency market in the last few weeks. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Three Arrows Capital, a crypto-focused hedge … Read more

Tencent wants to be foreign automakers’ go-to company for EVs in China

Tencent wants to be foreign automakers' go-to company for EVs in China

BMW’s iX electric SUV in China was the first global car brand to include the automobile version of Tencent’s WeChat messaging app, according to the Chinese tech company. Tencent BEIJING — Chinese internet giant Tencent wants to sell technology which the company says will help foreign automakers that want to sell cars in China’s massive … Read more

Berkshire Hathaway Stock Hits Hard in June. Warren Buffett Is Probably Unfazed.

Berkshire Hathaway Stock Hits Hard in June.  Warren Buffett Is Probably Unfazed.

Text size Berkshire has scaled back its stock repurchase program this year, and that may be sending a message that CEO Warren Buffett doesn’t view the stock as being so cheap. Bill Pugliano/Getty Images Despite what CEO Warren Buffett has called its Fort Knox balance sheet with over $100 billion in cash, Berkshire Hathaway hasn’t … Read more

Carnival Stock Surges as Second-Quarter Revenue Rises Sharply

Carnival Stock Surges as Second-Quarter Revenue Rises Sharply

text size A large Carnival cruise ship docked at port in turquoise blue water. Dreamstine Shares of carnival were rising Friday after the cruise line posted second-quarter revenue that rose sharply from the first quarter of 2022. carnival (ticker: CLC ) reported a GAAP loss of $1.61 a share, wider than analysts’ estimates for a … Read more

Hackers steal $100 million in crypto from Harmony’s Horizon bridge

Hackers steal $100 million in crypto from Harmony's Horizon bridge

So-called blockchain bridges have become a prime target for hackers seeking to exploit vulnerabilities in the world of decentralized finance. Jakub Porzycki | NurPhoto | Getty Images Hackers have stolen $100 million in cryptocurrency from Horizon, a so-called blockchain bridge, in the latest major heist in the world of decentralized finance. Details of the attack … Read more

What’s gold price outlook as markets shift from inflation to recession fears?

What's gold price outlook as markets shift from inflation to recession fears?

(Kitco News) Gold’s volatility has been relatively low compared to other assets as the precious metal retains its “mild bull market” status and trades comfortably between $1,800-$1,900 an ounce. But don’t expect a gold price rally until some confidence returns to the marketplace, according to MKS PAMP. There is a shift … Read more

Here’s How Much the Average Working Boomer Has Saved for Retirement

Here's How Much the Average Working Boomer Has Saved for Retirement

Text size Dreamstime This article originally appeared on MarketWatch. Three news items that say a lot about the retirement crisis facing Americans and what we can do about it—if we want to. The first is a survey of 1,000 working Americans conducted recently showing much, or little, they have saved for retirement. And the picture … Read more

4 things I learned about Meta from my chat Mark Zuckerberg

4 things I learned about Meta from my chat Mark Zuckerberg

In any interview of a CEO, you always learn something that’s investable. I wanted to give you my four immediate impressions of what I saw tonight from Meta CEO Mark Zuckerberg. 1. We got a new, positive read on Reels. Zuckerberg told us the short-form video product is ahead of plan and that a surprising … Read more

Here’s what China’s Alibaba and Kuaishou say about the economy

Here's what China's Alibaba and Kuaishou say about the economy

Across five major e-commerce platforms’ GMV, Alibaba’s market share fell by 6% in the first quarter versus the fourth, according to Bernstein analysis. Str | dpa | Getty Images BEIJING — Alibaba was once the poster child for investing in modern China. Now the e-commerce market that fueled its growth is slowing, while new players … Read more

Mark Zuckerberg envisions 1 billion people in the metaverse

Mark Zuckerberg envisions 1 billion people in the metaverse

Meta Platforms CEO Mark Zuckerberg told CNBC’s Jim Cramer on Wednesday that the metaverse could be a considerable part of the social-network operator’s business in the second half of the decade. “We hope to basically get to around a billion people in the metaverse doing hundreds of dollars of commerce, each buying digital goods, digital … Read more