Musk said Tesla will reduce its salaried workforce by 10% in the next three months, while also growing the number of hourly employees.
Investment product provider ProShares is set to list the U.S.s first exchange-traded fund (ETF) allowing investors to bet against the price of bitcoin (BTC).
A selloff that saw US stocks sink into a bear market last week amid red-hot inflation data and a sharp Federal Reserve rate hike will likely ease in the second half, according to JPMorgan Chase & Co.
Following Buffetts lead just might be a great way to get through todays challenging stock market intact.
Fears of an economic downturn are growing among CEOs, with some convinced the economy has already rolled over.
Ray Dalio’s Bridgewater Associates has emerged as the biggest short seller of European stocks, wagering more than $5.7 billion against them in a bid to profit from a potential decline in value.
China’s annual 618 shopping festival comes against a backdrop of slowing growth in the world’s second-largest economy due to Covid lockdowns in major parts of the country. Xin Lijun, CE
Oil prices fell more than $3 on Wednesday as markets worried about a fall in demand after the Federal Reserve hiked interest rate by three-quarters of a percentage point.
The Federal Reserve raised interest rates by three-quarters of a percentage point on Wednesday in an aggressive move to tackle white-hot inflation that is plaguing the economy, frustrating consumers and stifling the Biden administration.
The 10-year Treasury yield rose to its highest level in more than a decade as investors continued to assess the prospect of the Federal Reserve taking the most aggressive step yet in its fight to lower soaring inflation.
Crypto lending firm Celsius on Monday paused all account withdrawals, sparking fears that it may be about to go bust.
Bond yields pointed to the possibility of a more aggressive Fed as the yield on the 10-year Treasury shot up to 3.37%, while the 2-year yield, which mostly closely tracks Fed intentions, accelerated to 3.34%.
Bitcoin tumbled below $23,000 on Monday, hitting its lowest level since December 2020, as investors dump crypto amid a broader sell-off in risk assets.
Rice could be next in line. The United Nations’ Food and Agriculture Organization Food Price Index already shows international rice prices creeping up for the fifth straight month to reach a 12-month high.
The company announced Friday that its board approved a 3-for-1 stock split, its first split since August 2020.The split would need to be approved by shareholders at the companys annual meeting in August.
