Investors Dump Banking Stocks
On Thursday, the four largest US banks by assets, JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, saw $52.4bn wiped off their market value.
Go Deeper (3 min read)London Is Loosing Out
This growing exodus highlights the UK's struggle to attract and keep companies, despite the government's efforts to revive the City and entice businesses from competing exchanges.
Go Deeper (3 min read)The Mystery of the U.S. Economy
Dana Peterson, the chief economist at the Conference Board, believes that the sharp decline of the U.S. business group's Leading Economic Index indicates that a recession will soon take hold in the United States.
Go Deeper (3 min read)Buffet Is Still Bullish
Billionaire investor Warren Buffett has expressed unwavering confidence in the U.S. economy and his company, Berkshire Hathaway, in his annual letter to shareholders released on Saturday.
Go Deeper (2 min read)Meta Sells Badges
Meta Platforms revealed its latest attempt to grow sales, Meta Verified, a monthly subscription service aimed at boosting user authentication and supporting content creators' growth and community building
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Greenlight Capital Stages A Comeback
Greenlight Capital saw a return 36.6% for 2022 thanks to its strategy of shorting overpriced technology stocks. The Nasdaq Composite index, which is heavily weighted toward technology, fell 33%.
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Self-Driving Hasn't Arrived Yet
Despite lofty claims of having running fleets of autonomous vehicles by the start of the 2020s, automotive producers and robotaxi startups have to re-adjust their clams.
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The 2% Goal
Central bankers believe that by setting an inflation target, they establish credibility for themselves and help individuals and businesses plan in ways that will help to keep inflation under control.
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China's Restart
After years of pandemic-driven disruptions, factory managers and workers are finally seeing the light at the end of the tunnel. The country rapidly removed restrictions of movement in December, a move that greatly increased the number of COVID-19 cases and caused further disruptions.
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It's Not All Doom And Gloom
Since Russia's invasion of Ukraine in January, investor sentiment in Germany has improved for the first time. This is another indication that the slowdown in Europe's largest economy may not be as severe as initially anticipated.
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Microsoft Is Joining The Tech Firing Spree
Microsoft Corp. announced it was cutting 10,000 jobs, making it the latest tech giant to do so amid worries about the state of the world economy.
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