Author: News Room

The European Union has launched investigations into Apple, Google and Facebook parent Meta on suspicion that they are failing to comply with a new landmark European law designed to promote competition in digital services. The European Commission said it “suspects” that various practices by all three companies “fall short of effective compliance” with the Digital Markets Act (DMA), which went into effect earlier this month. If the probes find a “lack of full compliance,” they could face “heavy fines,” said European Commissioner Thierry Breton. The DMA requires dominant online platforms to give users more choices and rivals more opportunities to…

GBP/USD recovers after steep sell-off takes it to 1.2600s.  Brighter UK retail sales data helps improve the outlook for the Pound Sterling.  BoE and Fed divergence on interest rate outlook, however, is a depresser for the pair.  GBP/USD saw a fillip on Monday, rising by almost four tenths of a percent to the mid 1.2600s on a mixture of better-than-expected UK retail sales data, profit taking after the recent steep sell-off and the US Dollar (USD) being broadly sold following intervention by authorities to prop up their currencies in Asia.  GBP/USD gets some support by UK retail sales  GBP/USD got…

Curio, an innovative crypto project aiming to facilitate unlocking liquidity from real-world assets, has recently found itself involved in a major controversy. The ecosystem, which boasts innovative solutions connecting traditional assets to the blockchain, has suffered an exploit of a whopping 16 million dollars, raising concerns about the security of decentralized finance (DeFi) platforms. The minting of over 1 billion tokens for the crypto project Curio The task of restoring trust in the platform Conclusions The minting of over 1 billion tokens for the crypto project Curio According to Cyvers on X, a web3 detection and prevention project, the exploit…

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. U.S. stocks trended lower on Monday, kicking off a holiday-shortened trading week for Wall Street. Gains in the market were concentrated in the materials and energy sectors, while technology lagged. This is good news for Club holdings Coterra Energy and DuPont de Nemours, which are up 1.5% and 0.5%, respectively. Meanwhile, European regulators opened an investigation into Meta Platforms , Apple and Alphabet , weighing down shares of each. Jim Cramer said investors shouldn’t panic…

Veteran investor John Paulson has called allies on Wall Street to make the case that it’s time to help Donald Trump become president again.”My message is that we need to unite and stand behind President Trump. There is only one candidate that can lead us in the right direction,” he told CNBC on Monday.”It’s important to put personal differences aside and focus on what’s important: protecting our borders, immigration, crime, education, the economy, trade, and foreign policy,” said Paulson.The hedge fund founder is hosting a splashy fundraising dinner for Trump April 6 at his house in Palm Beach, Florida. But Paulson is not…

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A New York appeals court has given former President Donald Trump 10 more days to post his bond to satisfy the civil fraud judgement and cut the amount necessary to $175 million. It’s a major lifeline for the former president, who, along with his adult sons and his company, were fined more than $464 million, including interest, after Judge Arthur Engoron found Trump and his co-defendants fraudulently inflated the value of his assets. The ruling staves off the prospect, for now, of New York Attorney General Letitia James seeking to seize the former president’s property to enforce the judgement against…

WWE expanded WrestleMania to a two-night extravaganza just a few years ago, but there still isn’t enough room on the show’s card for everybody. In 2023, numerous marquee stars, including former two-time WWE Champion Bobby Lashley, missed WrestleMania 39 due to a wide variety of circumstances. In 2024, WWE fans are once again being met with the harsh reality that some of their favorite superstars will not have a spot on the show. With The Rock, Roman Reigns, Cody Rhodes and Seth Rollins all wrestling on both nights, WrestleMania spots are even harder to come by this year. For WWE,…

Key News Asian equities were lower in quiet trading despite a decline in the US dollar overnight, as India was closed for Holi, the Hindu festival of Colors, Love, and Spring. Hong Kong and Mainland China bounced around the room: falling at the open and rallying mid-day, only to slide back into the red. Hong Kong and Mainland China-listed technology stocks underperformed. A Financial Times article was cited as the culprit. The article stated that Chinese government agencies will curtail purchases from AMD and Intel INTC . China accounts for 15% of the revenue of the former and 27% of…

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