GBP/USD drops below 1.2000, heads for lowest weekly close in three months
The US Dollar extended its gains during the American session on Friday, supported by economic data that continues to point to more rate hikes from the Federal Reserve. This, in turn, drove the GBP/USD to test levels under the critical support area of 1.1940. The pound has been consolidating its weekly losses as a result […]
Tesla investor Gerber ends bid for EV maker’s board
Ross Gerber, the co-founder and chief executive of Gerber Kawasaki Wealth and Investment Management, recently dropped his bid for a seat on the board of Tesla Inc. (TSLA), the electric-vehicle maker. Gerber had launched his bid in January amid a steep decline in the stock price and concerns that Tesla Chief Executive Elon Musk was […]
US Regulators and Federal Reserve Issue Joint Warning About Crypto Liquidity Risks
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have jointly issued a warning to banking organizations regarding the key liquidity risks associated with crypto assets. The regulators clarified that banks are neither prohibited nor discouraged from providing banking […]
Warner Bros. Discovery wants to exit regional TV sports: WSJ
Warner Bros. Discovery Inc. (WBD) closed down 1.14% on Friday after news broke that the company is looking to end its management of three regional sports TV channels. According to a report from the Wall Street Journal, an executive from the business told the sports teams that bankruptcy was an option and that the business […]
Sustained strength in real personal income is a mixed blessing – Wells Fargo
On Friday, the United States released data that showed an increase in real personal spending and higher inflation numbers. This news has been met with mixed reactions from analysts. Wells Fargo analysts have argued that while the jump in wages is supportive of spending, it could be a challenge for the Federal Reserve if it […]