In this photo illustration an OpenSea logo is displayed on a smartphone with stock market percentages in the background.Omar Marques | Lightrocket | Getty ImagesCrypto marketplace OpenSea has been added to the SEC’s list of targets, as the regulator extends its crackdown on the sector.The company’s CEO said in a post on X on Wednesday that the U.S. Securities and Exchange Commission issued a Wells notice against OpenSea.A Wells notice is typically one of the final steps before the SEC issues formal charges. It generally lays out the framework of the regulatory argument and offers the potentially accused an opportunity to…
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A shopkeeper arranges lanterns kept for sale ahead of the Diwali festival, the Hindu festival of lights in Mumbai on Nov. 8, 2023.Ashish Vaishnav | SOPA Images | LightRocket | Getty ImagesIndia’s economic growth slowed to 6.7% year-on-year in the April-June quarter as a decline in government spending during national elections weighed, data showed on Friday, but it remained the world’s fastest-growing major economy.The rise in gross domestic product was less than a 6.9% expansion forecast by a Reuters poll, and compared to 7.8% growth in the previous quarter.Still, it was faster than 4.7% growth in China, Asia’s biggest economy,…
JD.com set up an Innovative Retail division that houses its grocery business 7Fresh.Bloomberg | Bloomberg | Getty ImagesHong Kong-listed shares of Chinese online retailer JD.com climbed 1.2% on Wednesday, outperforming the decline on the Hang Seng index after the firm announced a $5 billion buyback late Tuesday.U.S. listed shares of the firm rose 2.24% on Tuesday after the announcement. Both JD.com’s Hong Kong and U.S. shares have dropped about 20% year to date.In comparison, Hong Kong’s benchmark Hang Seng index was down about 0.82% Wednesday, but is up about 4% for the year so far.Stock Chart IconStock chart iconThe announcement…
Nvidia CEO Jensen Huang makes a speech at an event at the COMPUTEX forum in Taipei, Taiwan, on June 4, 2024.Ann Wang | ReutersFor Nvidia investors, the past two years have been a joyride. But recently they’ve been on more of a roller coaster.As the primary beneficiary of the artificial intelligence boom, Nvidia has seen its market cap expand by about ninefold since the end of 2022. But after reaching a record in June and briefly becoming the world’s most valuable public company, Nvidia proceeded to lose almost 30% of its value over the next seven weeks, shedding roughly $800…
Investors may want to consider using the post-earnings weakness in Nvidia to scoop up shares, according to some Wall Street analysts. Shares of Nvidia slumped about 3% in the premarket — after falling by more than 8% at one point in after-hours trading — even after the chipmaker topped Wall Street’s quarterly estimates . Nvidia also said it plans to ship “several billion dollars” worth of Blackwell revenue in the fourth quarter, alleviating some recent concerns of production delays. The company, however, said gross margins declined from the previous quarter. Nvidia also issued a stronger-than-expected forecast, but it was below…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailAndrew Graham, Jackson Square Capital founder and managing partner, joins ‘Fast Money’ to talk signs of economic slowing, what to expect from the FOMC moving forward, and more.06:03Wed, Aug 21 20246:27 PM EDT Source link
U.S. President Joe Biden speaks during a Rose Garden event at the White House to mark National Small Business Week on May 1, 2023 in Washington, DC.Alex Wong | Getty ImagesSmall business owners are more optimistic to start the year, even as they face persistent inflation and lending concerns, a new poll released Thursday found.Seventy-five percent of small business owners are optimistic about their financial trajectory in 2024, up from 68% a year earlier, according to a survey by Goldman Sachs 10,000 Small Business Voices, a policy advocate for small business owners.Meanwhile, 28% of respondents rated the economy as good…
The U.S. is home to the majority of the world’s data centers, with more than 2,800. The closest nation after that is the United Kingdom, with less than 400, according to the Data Center Map.Data centers are the physical vertebrae of internet infrastructure, supporting cloud computing capabilities and artificial intelligence.The value of the land where data centers are planned to be built is now soaring, 10 times the original price in one case from Vint Hill, Virginia.Pat Lynch, executive managing director for the digital infrastructure business at commercial real estate brokerage CBRE, told CNBC that demand was already strong, but…
Prime Minister Sir Keir Starmer during his speech and press conference in the Rose Garden at 10 Downing Street on August 27, 2024 in London, England.Wpa Pool | Getty Images News | Getty ImagesLONDON — U.K. Prime Minister Keir Starmer on Tuesday told the nation that the upcoming October budget would be “painful,” as he paves the way for spending cuts to address what the government says is a £22 billion ($29 billion) financing shortfall.”We have no other choice given the situation that we’re in,” Starmer said in a speech in the gardens of 10 Downing Street, the prime minister’s…
Bars of original KitKat chocolate, produced by Nestle SA.Jason Adlen | Bloomberg | Getty ImagesLONDON — Investors may think that the replacement of Nestle CEO Mark Schneider with company veteran Laurent Freixe is “not such a bad thing,” analyst Jon Cox said Friday.Cox, who is head of consumer equities at Kepler Cheuvreux, told CNBC that he expects many investors will welcome the move following a period of lackluster performance at the world’s largest food manufacturer.”I think confidence has been severely hit in the case and particularly in Schneider,” he told “Squawk Box Europe.””I presume most people will think it’s not…
