Chinese Uber competitor Didi Chuxing reportedly in talks to launch $80 billion IPO
Chinese ride-hailing giant Didi Chuxing is holding talks about an initial public offering (IPO), according to a report. Didi Chuxing was last valued at more than $50 billion in December, after raising $4 billion from investors including Japanese conglomerate SoftBank....
After-hours buzz: CDNS, GOOGL & more
Check out the companies making headlines after the bell on Monday: Cadence Design Systems stock surged more than 11 percent in after-hours trading. The software and engineering services company reported first quarter financial results that beat analyst expectations. Cadence reported...
A former top Wall Street regulator turns to the blockchain
SAN FRANCISCO — Gary Gensler was one of the top financial regulators in the Obama administration, the finance chief for Hillary Clinton’s 2016 presidential campaign and, before both of those jobs, a partner at Goldman Sachs. Now, like many other...
Goldman Sachs makes first hire in cryptocurrency markets unit
Goldman Sachs is getting more serious about finding ways for its clients to invest in cryptocurrencies. The Wall Street giant enlisted Justin Schmidt, a former trader, to be the first head of digital asset markets in Goldman’s securities division. Schmidt...
Amazon wouldn’t have happened if it weren’t for Bernie Madoff
Amazon.com might never have happened without Bernard L. Madoff. Jeff Bezos once worked at D.E. Shaw, the quantitative hedge fund. But he quit in the early 1990s to open the online bookstore that would make him famous. According to an...
China does not have to ask anyone for respect, Ghana’s president says
Ghanian President Nana Akufo-Addo pinpointed China’s development story Saturday in a speech that promoted intra-African economic co-operation. “China does not ask anyone for respect now,” he said, referring to foreign students’ enthusiasm for learning Mandarin as evidence of Beijing’s influence....
US existing home sales post 2-month growth streak in March, but remain below year-ago levels
U.S. sales of existing homes increased 1.1 percent on a monthly basis in March, which suggests that buyers are undeterred by the dwindling number of properties available on the market. The National Association of Realtors said Monday that homes sold...
Chances of a fourth rate hike this year just took a big jump higher
The market is finally coming around to the idea that the Federal Reserve this year will be raising interest rates a total of four times. Though some big forecasting firms on Wall Street for months have been predicting a more...
The 10-year Treasury yield could be about to hit 3 percent — here’s why this matters
All eyes are on the U.S. 10-year Treasury yield on Monday as it could imminently hit the 3 percent threshold — a level deemed particularly worrying by investors. “The 3 percent level is a big psychological point for investors and...
Protectionism is short-term and we don’t like that, Brazil’s finance chief says
Even if protectionism brings some short-term gains, Brazil is against it and is instead looking to boost its trade ties across the world, the country’s finance minister told CNBC on Thursday. “Although we could even benefit from one specific situation...
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