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Cryptocurrencies

“Bitcoin tumbles back toward $60,000 as tensions in the Middle East rise”

“…Bitcoin has struggled to break its ceiling of $70,000, though the $55,000 threshold has provided strong support for the crypto asset. Some investors are doubtful that October will be the month it finally comes back to life, but most remain… Continue Reading…

Business

“Verizon Makes a $3.3 Billion Deal to Help Protect Its Towering Dividend”

“…The company’s debt is on track to balloon further after it agreed to buy Frontier Communications (NASDAQ: FYBR) in a $20 billion all-cash deal. However, it recently made a counter move to cash in the value of its tower assets, which will bring… Continue Reading…

Business

“NIO Shares Jump After Unit Secures $1.9 Billion Investment”

“NIO’s shares in Singapore and Hong Kong surged after a unit of the Chinese electric vehicle maker secured a capital injection…” https://finance.yahoo.com/m/5f41df4f-9a28-32ee-85ac-4f1e41f77a45/nio-shares-jump-after-unit.html News behind paywall. Just know it’s good news for this company.

Energy

“U.S. crude oil falls nearly 3%, closes below $68 on report Saudi committed to production increase”

“…Prices are also under pressure on the expectation that oil production will rise in Libya. Factions in the North African country reached a deal Wednesday to appoint a new central bank governor. A political dispute over who should lead the… Continue Reading…

Business

“UAE hoping to expand $1 trillion partnership with U.S. through AI, Investment”

“Emirati President Sheikh Mohammed bin Zayed Al Nahyan’s first official trip to the United States aims to push the United Arab Emirates-U.S. relationship to a new “geo-economic phase” centered on economic growth and innovation, top officials said ahead of a… Continue Reading…

Banking

“This Bank [PNC] Could Be the Next to $1 Trillion in Assets…”

“There are more than 4,500 bank subsidiaries in the U.S., according to the Federal Deposit Insurance Corporation. However, there is a wide discrepancy in size. Four banks — JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo — each have at least $1.6 trillion in… Continue Reading…

Business

“Microsoft, BlackRock form group to raise $100 billion to invest in AI data centers and power”

“The Global Artificial Intelligence Infrastructure Investment Partnership is initially looking to raise $30 billion for new and existing data centers. The fundraising, which could total $100 billion, will also be used to invest in the energy infrastructure needed to power… Continue Reading…

Stocks

“Microsoft Announces $60 Billion Buyback, 10% Dividend Hike”

“…Microsoft also will increase its quarterly dividend by 8 cents, to 83 cents a share. It’s the company’s 20th straight year of increasing its dividend. Microsoft stock rose 0.9% to 435.07 on Tuesday. MSFT stock has risen for seven straight… Continue Reading…

Business

“UK investment platform Hargreaves Lansdown agrees to $6.9 billion takeover by CVC consortium”

“…British investment platform Hargreaves Lansdown said on Friday it had agreed to a takeover offer equivalent to £5.4 billion ($6.9 billion) by a group of investors including CVC Group… Shareholders in Hargreaves Lansdown — the U.K.’s biggest stockbroker — will get 1,110 British pence… Continue Reading…

Economy

“Average consumer now carries $6,329 in credit card debt. ‘People are stretched,’ expert says”

“Americans now owe a record $1.14 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday. The average balance per consumer stands at $6,329, up 4.8% year over year, according to a separate quarterly credit industry insights report from TransUnion…” https://www.cnbc.com/2024/08/08/credit-card-debt-and-delinquencies-are-on-the-rise-reports-finds.html I… Continue Reading…