Day: March 27, 2018
Longfin loses more than a third of its value after the controversial cryptocurrency stock is booted from the Russell 2000 index
Shares of Longfin plunged for a second straight day after FTSE Russell said it would remove the stock of the small, cryptocurrency play from the benchmark Russell indexes. Longfin (Ticker: LFIN) closed 41.5 percent lower Tuesday at $34.68 a share. The little-known stock fell 16.6 percent Monday after noted short seller Andrew Left’s Citron Research …
Longfin loses a third of its value after the controversial cryptocurrency stock is booted from the Russell 2000
Shares of Longfin plunged for a second straight day after FTSE Russell said it would remove the stock of the small, cryptocurrency play from the benchmark Russell indexes. Longfin (Ticker: LFIN) traded 37 percent lower Tuesday near $37.31 as of 2:20 p.m. ET. The little-known stock fell 16.6 percent Monday after noted short seller Andrew …
Goldman’s debt to Solomon helps him get the top job
By now it is received wisdom that David Solomon’s apparent victory at Goldman Sachs over rival co-president Harvey Schwartz is a reflection of where the emphasis of that firm is heading – namely, towards investment banking and away from the traders. Solomon won out partly by virtue of his pedigree in investment banking, whereas Schwartz …
Goldman’s debt to Solomon helps him get the top jobRead More
Shares of retailer-turned-cryptocurrency play Overstock.com crater on share offering
Shares of Overstock.com fell more than 10 percent Tuesday after the company announced its intention to offer 4 million shares of new stock. The e-commerce company said after the markets closed Monday it would issue the new common stock in an underwritten public offering. Guggenheim is the sole underwriter, and has the option to buy …
Shares of retailer-turned-cryptocurrency play Overstock.com crater on share offeringRead More
Dollar Rebounds as Quarter End Position Squaring Starts, Stocks Lifted by Receding Trade War Fear
After being pressured initially, Dollar staged a strong come back European session. The greenback is now trading as the strongest one for day, followed by Canadian Dollar and then Yen. On the other hand, Sterling and Euro are suffering broad based selling together with Aussie. There is no apparent catalyst for the move. Fading fear …
Macau turns to a hub
By Noah Sin Although the sovereignty of Macau was handed to China in 1999, the former colony still bears the signs of four centuries of Portuguese rule. From the bilingual street signs to Macanese cuisine, much of the city is a blend of Chinese and Portuguese cultures; even the local currency, the Macanese pataca, is …
Bank of America cuts Facebook stock forecast for second time in 5 days, this time for FTC data probe
For the second time in five days, Bank of America Merrill Lynch reduced its price forecast on Facebook shares as the fallout from the data scandal worsens. The bank slashed its original forecast on Thursday. On Monday, the Federal Trade Commission confirmed it has an open nonpublic investigation into Facebook’s data privacy practices, a development …
Alipay offers some lessons on open banking
European bankers, fintech entrepreneurs, their lawyers and consultants were all struggling with the still-new concept of open banking at the Innovate Finance Global Summit in London in March. The notion that individuals might be willing to share their banking transaction details with third-party developers of APIs is a marketing man’s dream, promising a treasure trove …
EUR/USD to Look into Confidence Indicators for Guidance, as Risk Aversion Eased
The financial markets responded positively to news that US and China are back on the table for trade negotiation. At least for now, the fear of further escalation in tension is eased. DOW ended yesterday up 669.40 pts or 2.84% at 2420.60. S&P 500 gained 70.29 pts or 2.72% to close at 2658.55. NASDAQ also …
EUR/USD to Look into Confidence Indicators for Guidance, as Risk Aversion EasedRead More
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Finance news
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