Major cryptocurrencies tumbled Friday after news prosecutors raided UpBit, the largest cryptocurrency exchange in South Korea. Bitcoin fell 5.5 percent to $8,511, its lowest since April 20, according to CoinDesk’s bitcoin price index. The cryptocurrency traded near $8,563 as of 9:12 a.m. ET. Other major cryptocurrencies fell double-digits over the last 24 hours, according to […]
Read moreSt. Louis Federal Reserve Bank President James Bullard on Friday spelled out the case against any further interest rate increases, saying rates may already have reached a “neutral” level that is no longer stimulating the economy. Going further at this point, he said, risks nipping off business investment that might follow the recent corporate tax […]
Read moreAmazon boss and billionaire Jeff Bezos is legitimately scared of the potential of autonomous weapons. At the same time, he says the notion that a digital overlord will control us or that robots will take our jobs is nonsense. Bezos shared his thoughts about artificial intelligence at the George W. Bush Presidential Center’s Forum on […]
Read moreTelecommunications giant AT&T said Friday that hiring President Donald Trump‘s lawyer Michael Cohen as a consultant was a “big mistake.” AT&T’s apology came a day after drug maker Novartis likewise said, “we made a mistake” in hiring Cohen as a consultant. Novartis previously had revealed that it paid Cohen a whopping $1.2 million under a […]
Read moreAnalysts are optimistic over Nvidia’s growth opportunities even as a key end market falters. The chipmaker reported better-than-expected fiscal first-quarter earnings and guidance Thursday. But the company said on the earnings conference call its second-quarter cryptocurreny mining chip sales will likely fall by two-thirds quarter over quarter. Nvidia’s stock price fell 2.2 percent Friday. Goldman […]
Read moreElon Musk’s first Boring tunnel under Los Angeles is “almost done” and set to offer free rides to the public “in a few months,” the CEO said late Thursday in an Instagram post. “Super huge thanks to everyone that helped with this project,” Musk captioned a video racing through the tunnel. “Once fully operational (demo […]
Read moreThe way President Donald Trump sees it, why go for a solid single when you can swing for a home run? Trump’s upcoming summit with North Korea’s Kim Jong Un is only the latest example of the president’s go-big strategy. From tax reform to international trade to foreign policy, Trump has pursued a high-risk, high-reward […]
Read moreChinese smartphone maker Coolpad Group said its unit has sued three group firms of Xiaomi, which last week filed for a Hong Kong IPO that could be worth up to $10 billion, for patent infringement. Coolpad said in a statement late on Thursday its subsidiary, Yulong Computer Telecommunication Scientific (Shenzhen) filed a lawsuit against Xiaomi […]
Read moreSome investors are betting on shares of homebuilders to outperform U.S. stocks at large, but with interest rates expected to rise they may have to wait several months before those bets pay off. The U.S. economy looks ideal for homebuilding stocks to benefit. The unemployment rate has fallen to its lowest level in more than […]
Read moreThe U.S. will try and get other governments to pay more for prescription drugs through trade negotiations and agreements, said Health and Human Services Secretary Alex Azar. Part of the blueprint President Donald Trump will unveil Friday aimed at lowering U.S. drug prices will target “foreign freeloading,” according to summary the White House shared with […]
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