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Business News

Location American Business News for 10 January 2024
UAE-Based Phoenix Group Bolsters Mining Capabilities With $187M Bitmain Deal Amidst Global ASIC Race Phoenix Group, a bitcoin mining and blockchain infrastructure company, recently disclosed its acquisition of $187 million in application-specific integrated circuit (ASIC) bitcoin mining rigs. The purchase was made from ...
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Read the email Twitch's CEO sent staff at 6 a.m. announcing 500 job cuts Twitch CEO Dan Clancy said in his message to employees he was "disappointed" that news of the layoffs leaked on Tuesday.
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A boomer retirement bomb is about to blow up America's economy Fewer than half of all boomers have saved enough for retirement. They'll be forced to rely on their millennial and Gen Z kids.
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"I've got kids, I've got grandkids, and so do you. This stuff matters. Every detail matters," Calhoun said at an all-hands meeting on Tuesday.
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Boeing CEO Says Company Needs to Acknowledge 'Our Mistake'

Wall Street Journal - 10 Jan 2024 01:09
Boeing CEO Says Company Needs to Acknowledge 'Our Mistake' David Calhoun tells staff that Boeing needs to address fallout from the latest quality problem.
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The quiet status symbols you're going to be seeing everywhere in 2024 In 2024, people are quietly showing their wealth and status with household items like skincare devices, pizza ovens, and expensive alarm clocks.
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There's a hidden crisis hurting mid-sized companies

Business Insider - 10 Jan 2024 13:00
There's a hidden crisis hurting mid-sized companies Many smaller private companies, termed middle-market companies, are experiencing financial peril at much higher rates than large public companies.
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Hewlett Packard Enterprises to buy Juniper Networks in $14 billion deal Hewlett Packard Enterprise Co. has agreed to buy communications-networking provider Juniper Networks, Inc. in an all-cash deal worth around $14 billion, the companies said on Tuesday.
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Alan Dershowitz called for the release of Epstein court documents. In them, Virginia Giuffre alleges they had sex at least 6 times. Alan Dershowitz has argued all documents in the case should be unsealed, hoping blows to accusers' credibility would prove he's innocent.
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Can banks benefit from the DoJ's pressure on Apple Pay?

American Banker - 10 Jan 2024 16:38
Can banks benefit from the DoJ's pressure on Apple Pay? A potential antitrust lawsuit may open iPhones to outside payment apps. But any bank that seeks to profit from the Department of Justice's moves will face a host of other challenges.
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Choice Hotels slams Wyndham's claims of antitrust risk in its $85-a-share bid for its smaller rival Choice Hotels says it's "disappointed" with a disinformation campaign it claims Wyndham is pushing.
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Buy Home Depot's stock because the housing market is bottoming, analyst says Home Depot's stock rallied Wednesday, after Wedbush turned bullish on the home improvement retailer, citing the belief that housing-market fundamentals are bottoming.
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Investor lays out case for Dow 100,000 within a decade as artificial-intelligence boom transforms U.S. stock market One investor sees scope for the Dow to reach 100,000 within 10 years, and for the S&P 500 to hit 15,000.
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American consumers are feeling the pain of higher interest rates while Wall Street is having a ball, economist says US households have struggled to cover ballooning mortgage payments and credit-card bills, while stocks and other assets have soared.
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A Chinese gaming billionaire now ranks as one of the US' top landowners Tianqiao Chen owns 198,000 acres of timberland in central Oregon, per The Land Report.
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Jeffrey Gundlach warned the S&P 500 has hit a bearish "double top," recession signals are flashing red, and US debt has reached dangerous levels.
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US regulators are expected to make an announcement on new Bitcoin investment instruments this week.
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Standard Chartered: BTC Could Hit $200K in 2025 With Spot Bitcoin ETF Approval Standard Chartered has predicted that the price of bitcoin could rise to $200,000 next year with the approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). The bank’...
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Turmoil in Crypto Market -- Misleading SEC Post Triggers Significant Bitcoin Volatility Bitcoin’s value experienced a turbulent Tuesday, largely due to a rogue post from the U.S. Securities and Exchange Commission’s hijacked X account, mistakenly proclaiming the green light for all spot bitcoin exchange...
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South Korean Ex-Police Officer Denies Crypto 'Bribery' Charges Source: vectorfusionart/Adobe The trial of a former South Korean police officer has begun in Gwangju. The ex-law enforcer denies taking bribes during a suspected crypto fraud investigation. Per the news broadcaster YTN, ...
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Intel has acquired Silicon Mobility SAS, a portfolio company of Cipio Partners and Capital-E and a fablessautomotive silicon and software company that designs, develops and deploys EV energymanagement SoCs. Silicon Mobil...
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John Catsimatidis promotes son to president of $7B Red Apple Group Billionaire business mogul John Catsimatidis promoted his 30-year-old son to president and chief operating officer of the $7 billion Red Apple Group, which has a vast empire that spans media, real estate, fossil fuels, a...
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