ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailTom Fitzgerald, TD Cowen analyst, joins ‘Squawk Box’ to discuss the impact of the government shutdown on the airline sector, what disruptions to air travel could look like, Source link
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The Nio logo is seen at the Nio booth at the National Exhibition Center in Shanghai, China, on April 28, 2025, during the Shanghai Automobile Show 2025.Nurphoto | Nurphoto | Getty ImagesHong Kong-listed shares of Nio plunged nearly 9% after Singapore’s sovereign wealth fund GIC sued the Chinese electric vehicle maker for allegedly violating securities laws by inflating its revenues.The lawsuit named Nio’s CEO Li Bin and former Financial Officer Feng Wei as defendants, according to a court document filed in August in the Southern District of New York court.The complaint alleged that Nio unlawfully recognized over $600 million of…
All three of Sea Limited’s core businesses are posited well for gains from here, according to Bank of America. The bank upgraded shares of the Singapore-headquartered consumer internet company to buy from neutral. Sea is a holding company for e-commerce marketplace operator Shopee and gaming platform and developer Garena. Analyst Sachin Salgaonkar also raised his price target to $215 from $206, implying upside of 32% from Wednesday’s close. Although shares of Sea have surged 54% in 2025, Salgaonkar noted that the company has been trading range bound in the last few months and fell 10% on Wednesday due to concerns…
Upgrade CEO Renaud Laplanche speaks at a conference in Brooklyn, New York, in 2018.Alex Flynn | Bloomberg via Getty ImagesUpgrade, the online lender started by LendingClub founder Renaud Laplanche, has raised a new round of funding that values the startup at $7.3 billion.The company said in a press release on Thursday that it raised $165 million in a round led by Neuberger Berman, with participation from LuminArx Capital Management. Laplanche, who created Upgrade in 2016, said it’s the first time the company has raised money since 2021. “We’ve been cash flow positive over the past three years, so we didn’t…
Chinese e-commerce giant Alibaba has pledged to spend more than $50 billion on artificial intelligence over the next three years.CNBC | Evelyn ChengSHANGHAI — Chinese tech giant Alibaba is already recouping its investment on artificial intelligence in the company’s e-commerce business, vice president Kaifu Zhang told reporters on Thursday.The Chinese tech giant has bet big that AI will generate returns despite market concerns that companies are spending too much on the technology with little to show for it. Alibaba last month announced it will increase its spending on AI and cloud infrastructure, after pledging in February it would spend 380…
Untere Schleuse wooden bridge in Thun, Switzerland.Education Images | Universal Images Group | Getty ImagesSwitzerland’s government on Thursday cut its 2026 economic forecast for the country, citing the Trump administration’s punitive tariffs as a “heavy burden” on its industries.Officials held their forecast for the Swiss economy to expand by 1.3% this year, but noted that this level of economic growth was “significantly below-average” for the country. For next year, they are now forecasting gross domestic product (GDP) growth will slow to 0.9% – down from a previous 2026 forecast of 1.2% growth.”Higher U.S. tariffs have further clouded the outlook for…
The average U.S. credit score is 715, according to FICO’s Score Credit Insights, which examined data from April 2025. That’s still in the “good” range, but it represents a two-point drop year-over-year — the largest decline since the Great Recession.Persistent inflation and a sluggish job market have forced many Americans to rely more on credit to cover expenses. As a result, credit utilization has increased and on-time payments have decreased — both of which lower credit scores.”Earlier this year, the percentage of credit card balances that were 90 days or more delinquent reached the highest level since the second quarter of…
FILE PHOTO: A smartphone with the PayPal logo is placed on a laptop in this illustration taken on July 14, 2021. Dado Ruvic | ReutersPaxos, the blockchain partner of PayPal, mistakenly minted $300 trillion of the online payment giant’s stablecoin on Wednesday in what the company called a “technical error.” Market watchers had spotted the enormous injection of the PayPal PYUSD stablecoin on Etherscan — a block explorer and analytics platform for the Ethereum blockchain.Paxos had mistakenly minted the stablecoins as part of an internal transfer, before it “immediately identified the error and burned the excess PYUSD,” the company said in a…
Investors took advantage of the market dip last week and piled into stocks, according to Bank of America Securities. Yet there was one cohort sitting out: hedge funds. The bank saw $4.1 billion in inflows to single stocks from clients, the fifth largest since 2008, it said in a note Tuesday. The move came after four weeks of selling. However, as has been the case recently, retail investors are among those leading the way, buying on dips and pushing stocks to multiple highs this year. Last week, both retail and institutional investors were doing the buying, Bank of America said.…
Joachim Nagel, Germany’s central bank governor and ECB member, shares his latest thoughts on inflation and the possibility of rate hikes in the euro zone.Bloomberg | Bloomberg | Getty ImagesEuropean Central Bank Governing Council member Joachim Nagel said that while inflation will remain sticky, the current path for interest rates remains clear.Speaking to CNBC’s Karen Tso at the IMF and World Bank annual meetings in Washington on Wednesday, the Deutsche Bundesbank president said: “I do not see any reason to change anything if there is not something new coming, and I do not see where it might come from.”In an…
