What better time to invest in financials than at a time with rampant inflation and a Federal Reserve promising 11 rate hikes over the next two years? That’s not the view at Deuterium Capital, which is expecting a sharp slowdown in the economy. The Deuterium Global Dynamic Allocation Fund is mostly driven by a macroeconomic […]
Apple Inc. AAPL 2.27% said a judge’s ruling that it was violating California’s unfair-competition law should be overturned because she had already found the iPhone maker’s in-app payment system was competitive. It is the Cupertino, Calif., company’s first full-throated filing laying out its argument in the appeals fight over its high-profile legal battle with “Fortnite” […]
The company has reached an agreement to list all New York City taxis on its app, an alliance that could ease the ride-hailing giant’s driver shortage and temper high fares while directing more business to cabdrivers, whose livelihoods were affected by the emergence of car- sharing apps and the pandemic. While Uber has formed partnerships […]
Edward “Ned” Johnson III, who transformed Fidelity Investments into a financial behemoth and opened Wall Street to millions of Americans, died Wednesday. Mr. Johnson was 91 years old. “He passed away peacefully at home in Florida surrounded by his family,” Abigail Johnson, who succeeded her father as Fidelity’s chief executive in 2014 and chairman in […]
Credit Suisse CS 0.19% Group AG is expected to pay around $500 million after losing a lawsuit brought by a Georgian billionaire who claimed the bank mismanaged his money. Credit Suisse has spent years fending off claims from Bidzina Ivanishvili, a former prime minister of Georgia. He sued the bank in Bermuda and Singapore for […]
Russia’s stock market is set to have a partial reopening Thursday, nearly a month after it shut down following the invasion of Ukraine. The challenge for Moscow is that the resumption of trading could simply send Russian stocks back into free fall. On Feb. 24, the day when President Vladimir Putin began the assault on […]
Steel and mining giant Severstal PAO said Citigroup Inc. has frozen interest payments to investors in the company’s bonds, setting up what would likely be the first debt default by a major Russian issuer since Moscow invaded Ukraine. Severstal said Wednesday that payment was frozen because of “regulatory investigations” and that it was committed to […]
President Vladimir Putin’s war in Ukraine, and the wave of Western sanctions in response, is starting to hit Russia’s economic engine: Its prodigious oil-and-gas industry. The US and Canada have barred the little Russian oil they import, while the European Union is considering a ban. But for the most part, Western sanctions have so far […]
Text size Shares of Nvidia have risen roughly 14% in the past month. Justin Sullivan/Getty Images Nvidia is doubling down on artificial-intelligence technology that CEO Jensen Huang predicts will revolutionize every industry. In the keynote speech for the annual Nvidia (ticker: NVDA) GTC conference—the acronym once stood for GPU Technology Conference, a reference to the […]
SAN JOSE, Calif.—Ramesh “Sunny” Balwani was not in charge at Theranos Inc., and the blood-testing company was neither his idea nor his creation, his attorney told a jury Tuesday as the second criminal-fraud trial involving the defunct Silicon Valley startup got under way. The responsibility for the rise and fall of Theranos rests on founder […]
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