Author: FX

alvarez/E+ via Getty Images The week, ending Feb. 3, saw Federal Reserve hiking its policy rate by 25 basis points but Chair Jerome Powell warned that the central bank still has “more work to do” to bring down inflation. The Industrial Select Sector SPDR (XLI) finished the week in the green (+1.69%). XLI was among the eight, out of the 11 S&P 500 sectors, which closed the week with gains. Zim topped the industrial gainers (in our segment) this week but it was earnings that played a major role among the majority of gainers and decliners. The SPDR S&P 500…

MF3d The year is barely a month old, but 2023 is already turning out to be one where artificial intelligence is going to dominate the strategies of businesses and the attention of investors. And this week showed that the biggest of the big names in tech are pushing more of their resources into the nascent area of AI in what is almost a fear-of-missing-out situation, even with the market still finding its footing. Microsoft (NASDAQ:MSFT) wasted little time in continuing with its support for the popular ChatGPT service from OpenAI. The software giant reportedly is close to adding an updated,…

David Becker/Getty Images News Rivian Automotive (NASDAQ:RIVN) CEO RJ Scaringe reportedly told employees at at meeting on Friday that the company is developing an electric bike in what could be a surprising expansion of the product lineup amid a new cost-cutting mindset. Sources said Scaringe disclosed that a small group of engineers is actively working on the micromobility concept. It is not known if the product will be closer to a motorcycle, scooter, or bicycle. Currently, Rivian builds a battery electric pickup, a plug-in SUV, and electric delivery vans. Shares of Rivian Automotive (RIVN) are up 14.76% in 2023 so…

2022 was tough for the crypto market. A recent report published by security services platform Immunefi found that the crypto industry lost a total of $3.9 billion in 2022. Detrimental losses such as these are often concerning for crypto investors, yet there may be a silver lining behind decreasing assets for investors reporting crypto on their taxes. Percentage of tax filers with cryptocurrency transactions. Source: TurboTaxContinue Reading on Coin Telegraph Source link

© Reuters. FILE PHOTO: Tesla CEO Elon Musk and his security detail depart the company’s local office in Washington, U.S. January 27, 2023. REUTERS/Jonathan Ernst/File Photo By Jody Godoy and Hyunjoo Jin SAN FRANCISCO (Reuters) -A U.S. jury on Friday found Tesla (NASDAQ:) Inc CEO Elon Musk and his company were not liable for misleading investors when Musk tweeted in 2018 that he had “funding secured” to take the electric car company private. Plaintiffs had claimed billions in damages and the decision also had been seen as important for Musk himself, who often takes to Twitter to air his views.…

By Jonathan Spicer ISTANBUL (Reuters) -The United States warned Turkey in recent days about the export to Russia of chemicals, microchips and other products that can be used in Moscow’s war effort in Ukraine, and it could move to punish Turkish companies or banks contravening sanctions. Brian Nelson, the U.S. Treasury Department’s top sanctions official, visited Turkish government and private sector officials on Thursday and Friday to urge more cooperation in disrupting the flow of such goods. In a speech to bankers, Nelson said a marked year-long rise in exports to Russia leaves Turkish entities “particularly vulnerable to reputational and…

Warning: RACE is at high risk of cutting its dividend Source link

Warning: RCKY is at high risk of cutting its dividend Source link

© Reuters. Ordinals cause fees to spikeThe Bitcoin (BTC)-native Ordinals protocol is taking up record-breaking space on the blockchain and, in the process, hiking the transaction fees on the network. The divisive newly launched protocol allows for nonfungible token (NFT) assets on the Bitcoin mainnet by inscribing satoshis with content.The 31.2 kilobyte DOOM clone (pictured) will now forever be playable on Bitcoin. Image: OrdinalsMastercard’s NFT lead quits on bad terms, sells resignation letter as NFT eBay (NASDAQ:) eyes talent for its acquired NFT marketplaceOpenSea rolls out suite of tools for NFT creators Other Nifty News:Continue Reading on Coin Telegraph Source…

© Reuters. FILE PHOTO: Memphis Police Department officer Preston Hemphill poses at a graduation ceremony for the 97th Crisis Intervention Class in Memphis, Tennessee, U.S. July 21, 2022. Memphis Police Department/Handout via REUTERS. By Daniel Trotta (Reuters) -Memphis police on Friday fired a sixth officer involved in the death of Tyre Nichols, a 29-year-old Black man who was beaten by officers in the Tennessee city last month. The Memphis Police Department identified the officer as Preston Hemphill, saying in a statement that Hemphill violated department policies on personal conduct, truthfulness, and compliance with regulations regarding the use of a Taser,…