SEC targets controversial crypto firm Longfin, freezes $27 million in proceeds from insider stock sales
The U.S. Securities and Exchange Commission obtained an emergency freeze of $27 million in trading profits involving the CEO of cryptocurrency company Longfin and three other people, the agency said in a statement Friday. Longfin’s stock was halted on the...
MGM could be interested in buying casino rival Wynn, report says
MGM Resorts may be interested in buying its casino rival Wynn Resorts, according to a report in the New York Post on Friday. MGM’s expressed interest in Wynn came from back-channel approaches, sources familiar with the situation told the Post....
Top MBA programs beef up cryptocurrency courses to keep up with demand
Some of the top MBA programs in the world are adjusting their curriculum after last year’s mania around bitcoin. Stanford Graduate School of Business, Wharton School of the University of Pennsylvania and Georgetown University’s McDonough School of Business are expanding...
US households owe $25 billion in taxes on cryptocurrencies, analyst Tom Lee estimates
U.S. households likely owe $25 billion in capital gains taxes for their cryptocurrency holdings, which could result in “massive” selling of the digital currencies into U.S. dollars by the mid-April tax filing deadline, one Wall Street analyst said. “This is...
Shares of Citi and Wells Fargo rise after UBS upgrades both to buy
Shares of Citigroup and Wells Fargo rose Thursday after an analyst at UBS upgraded both stocks to buy. Citigroup’s stock was up 1.1 percent, while Wells Fargo gained by 0.9 percent. UBS changed its rating on Wells Fargo from neutral...
Barclays upgrades Merck, downgrades competitor Pfizer
Barclays upgraded Merck to overweight from equal weight on better opportunities versus its competition. It also downgraded Pfizer to equal weight from overweight, citing a less likely chance of a “transformative” acquisition. Analyst Geoff Meacham and his team also raised...
Traders shrug off Mifid II impact on transparency and liquidity
Three months on from the implementation of the recast Markets in Financial Instruments Directive (Mifid II), the new trading and reporting rules have had little positive impact on market transparency, but have not adversely affected liquidity, according to senior fixed...
LinkedIn jobs report finds a 19.3% increase in March hiring
U.S. employers hired significantly more people in March than last year, according to the LinkedIn Workforce Report, a monthly analysis of employment trends. Hiring across the U.S. was 19.3 percent higher last month than a year earlier, the LinkedIn data...
CEO of controversial crypto company Longfin blames short sellers for stock plunge
The head of a small company that has attracted controversy over its ties to cryptocurrency said that he is not going to sell his shares while he is fighting $1.4 billion in bets against the stock. “I’m not going to...
Big-screen TVs and other products you buy that may get more expensive because of a possible trade war with China
Prices for big-screen televisions and some household appliances could go up significantly if the Trump administration’s proposed tariffs on Chinese imports are enacted. “On a $4,000 TV … the tariffs might have a several-hundred-dollar price impact,” said David French, senior...
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