Bitcoin exchange Coinbase buys Earn.com for a reported $100M and adds key executive
Digital currency exchange Coinbase is building on a recent hiring streak with a deal to buy Earn.com announced Monday. As part of the acquisition, the crypto company will bring on Earn’s founder and CEO as its first-ever chief technology officer....
Aluminum prices surge to highest level since 2011 as US sanctions on Russia take out big producer
Aluminum prices surged to their highest level in six years on Monday, extending a recent rally that follows the U.S. sanctioning of Russian aluminum giant Rusal. The metal traded as high as $2,403 per ton on the London Metal Exchange,...
Blockchain to disrupt Swiss hold on global bank system, Moody’s says
The blockchain technology underlying bitcoin could hurt Swiss banks the most, according to Moody’s Investors Service. “While making cross-border transactions faster and less expensive would be credit positive for banks, these efficiencies could also compress their fees and commissions, a...
Dollar Weak after Mixed Data, Sterling Shines
Dollar remains general weak in early US session after mixed economic data, in particular against European majors. The greenback does try to rebound against Australian Dollar and Canadian Dollar. But momentum is being capped. Yen also tried to rebound earlier...
McDonald’s downgraded because last year’s sales success is not the ‘norm’
Investors shouldn’t get used to McDonald’s recent strong sales growth, according to Stephens Inc., which downgraded the stock to equal weight from overweight. “Mid-single-digit comparable growth of recent quarters (especially in U.S.) was a result of successful initiatives coming together...
Two-year Treasury yield hits a near 10-year high despite Syria tensions
The two-year Treasury yield hit its highest level in nearly a decade Monday morning, leaving investors questioning what this could signal for America’s economy in the longer term. The short-term Treasury yield rose to 2.386 percent on Monday morning —...
Yen Making a Come Back in an Important Week for BoE and BoC
Yen is making a come back in Asian session today. The reaction to the Syria strike was muted. But risk aversion comes back with selloff in Chinese and Hong Kong stocks. Nikkei is maintaining slight gain of 0.25% at the...
Germany’s problem with China goes well beyond trade issues
China stands accused by Germany of interfering in its spheres of interest and influence in the European Union, West Balkans and Africa. Germans are also alleging that the Chinese are using their economic clout in these regions for political ends....