U.S.-based equity funds posted $22.2 billion of outflows in the week ended Dec. 20, the largest cash withdrawals for 2017, according to Lipper data on Thursday. U.S.-based equity mutual funds posted $12.2 billion of outflows in the week ended Wednesday, extending weekly cash withdrawals for most of 2017. And U.S.-based stock ETFs posted $10 billion […]
Read moreSwiss drugmaker Roche will buy U.S. cancer drugmaker Ignyta Inc for $1.7 billion to broaden its oncology portfolio globally, the companies said on Friday. Roche would pay $27 per share for Ignyta, representing a premium of about 74 percent to the stock’s closing price on Thursday, they said. Ignyta will continue its operations in San […]
Read moreApple is being sued after it admitted to slowing down older iPhone models to keep them running longer. On Wednesday, the U.S. technology giant said that it has algorithms in place to help keep an iPhone running at optimal performance if there is an older battery inside that can’t keep up with the required power. […]
Read moreAlternative digital currency Ripple made some significant gains Friday, despite the wider market for cryptocurrencies seeing a sharp pullback. Also known as XRP, it soared to $1.24 at 1:14 a.m. ET, and was up 25 percent over a period of 24 hours, according to data from industry website Coinmarketcap. The digital currency reached the key […]
Read moreCurrency, United States Finance
Europe seen opening lower in shortened session, Catalan separatists win election
European markets are expected to open in the red Friday, pulling back from the previous day’s gains, as investors digest the latest in political and economic news coming from the region. On the bourses front, the U.K.’s FTSE 100 is expected to open 17 points lower at 7,583, while the German DAX is set to […]
Read moreRegulators in Asia Pacific have become increasingly uneasy with the rise of cryptocurrencies such as bitcoin. The latest to sound a warning was the Bank of Japan Governor Haruhiko Kuroda, who called the surge in bitcoin prices “abnormal” at a media conference on Thursday. His comments echoed warnings made by his counterparts in major economies […]
Read moreChina’s continents-spanning Belt and Road network threatens to “shackle” partner countries and deprive them of valuable natural assets, according to one critic. Beijing is financing and executing massive infrastructure projects across the 68 nations participating in the ambitious scheme, which snakes along Europe, the Middle East and Asia. These recipient countries, many of them emerging […]
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Bitcoin and several other major cryptocurrencies plunged Thursday evening New York time as the end of an exponential year of growth neared. The slashing decline triggered temporary, built-in trading halts in the bitcoin futures traded on the CME and Cboe. Bitcoin plunged more than 20 percent to a low of $12,504 according to CoinDesk, down […]
Read moreQualcomm has obtained a permit to test autonomous vehicles on public roads in California, the latest step in the chipmaker’s effort to gain a foothold in the self-driving car market. California’s Department of Motor Vehicles issued the permit, which authorizes testing for one vehicle and three drivers, on Dec. 12, a spokesperson from the agency […]
Read moreAn emergency spending bill to fund the government through January 19 passed the Senate Thursday by a vote of 66-32, and advanced to President Donald Trump’s desk for signature. The Senate vote was the final hurdle facing legislation that will avert a partial government shutdown slated to begin at midnight on Friday. The bill passed […]
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