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Business News

Location American Business News for 3 July 2024
How Microsoft and Nvidia bet correctly to leapfrog Apple The two tech firms were among the first to see the commercial potential of AI.
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California credit union hit with ransomware attack

American Banker - 3 Jul 2024 21:55
California credit union hit with ransomware attack The attack knocked out online banking, mobile banking and the call center at Patelco Credit Union.
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The death of a retired Marine major general is under investigation after his body was found at the training base he once commanded Law enforcement is investigating the death of retired Maj. Gen. William Mullen after his body was found at the Marine Corps' largest training base.
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Could a financial crisis end crypto's bull run?

Coin Telegraph - 3 Jul 2024 15:30
Could a financial crisis end crypto's bull run? Blockchain technology doesn't exist in a vacuum, and the outside world has become a less secure place. Could crypto survive a TradFi collapse?
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SEC, Fed Charge Silvergate for Misleading Investors, Failing to Monitor $1 Trillion in Transactions The U.S. Securities and Exchange Commission (SEC), the Federal Reserve Board (FRB), and the California Department of Financial Protection and Innovation (DFPI) have taken action against Silvergate Capital Corp., the hold...
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Saks Owner to Buy Neiman Marcus, With Help From Amazon

Wall Street Journal - 3 Jul 2024 21:51
Retail rivals strike a $2.65 billion merger as they seek to gain scale against luxury brands.
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Tesla shares notch their longest winning streak in almost a year; Paramount Global stock jumps thanks to deal news.
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We want to see actual progress in wines and spirits before getting more positive on the trajectory of the stock.
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ICICI Bank's Sapphiro forex card to benefit students planning to study abroad this year: Key features explained Primarily meant for students studying abroad, the Sapphiro forex card offers the freedom of 15 currencies, a range of offers and other student benefits.
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U.S. factory orders drop in May after three straight gains Orders for manufactured goods fell 0.5% in May, the Commerce Department said Wednesday. It is the first decline after three straight monthly increases.
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JPMorgan's top strategist Marko Kolanovic is leaving after missing stocks' historic rally Chief market strategist Marko Kolanovic is departing JPMorgan Chase & Co. following a 19-year stretch with the bank, according to a source from within the investment bank who shared details from two internal memos with M...
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Stock market today: US stocks edge up as traders mull cooler private payroll data ADP data showed the job market slowed in June, with the private payrolls rising just 150,000, below expectations for 160,000.
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Why Google's greenhouse gas emissions have surged 48% in five years Google has admitted its greenhouse gas emissions have risen 48% over the past five years - largely because of artificial intelligence - scuppering its climate aims.
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Elon Musk and Tesla are on the rise after a brutal start to the year After dropping more than 42% and bottoming out in late April, Tesla's stock has rebounded sharply and is up more than 60% in a little over two months.
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Long Term Capital Gains Tax: As Budget 2024 draws nearer, a look at LTCG tax and how it applies on different assets When shares are sold one year after purchase, the gains earned amounting to ₹1 lakh and above are taxed as per the provision of long term capital gains. The rate of tax is 10 percent without indexation benefit.
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Now we know how much it costs to make a $2,800 Dior bag

Business Insider - 3 Jul 2024 09:42
Now we know how much it costs to make a $2,800 Dior bag In recent months, Italian authorities raided Dior subcontractor workshops, where they said people were working around the clock.
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Bob's Stores closing all locations after 70 years in latest US retail casualty Bob's Stores will liquidate its inventory at its 21 locations throughout Connecticut, Massachusetts, New Hampshire, New Jersey, New York and Rhode Island after filing for Chapter 11 bankruptcy.
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Paypal Ventures-Backed Mesh Partners With Conio to Launch Open Banking Solutions for Bitcoin in Europe Mesh, a U.S. fintech company backed by Paypal Ventures, has partnered with Italian digital asset wallet Conio to enhance cryptocurrency exchange access for Conio's 430,000 customers. This collaboration allows users to ac...
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Shari Redstone reaches preliminary deal to sell controlling stake in Paramount to Skydance Media for $1.75B The media heiress reached a preliminary agreement to sell her controlling stake in Paramount Global to Skydance Media - just weeks after she walked away from a deal between the two sides, according to multiple reports Tu...
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The FTC said it took action against Vroom for misrepresenting that it thoroughly examined all vehicles before they were listed for sale, getting customer consent for shipment delays and for failing to provide prompt refu...
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If the Fed can't get inflation down, stocks will be the best bet for your money Investing for retirement, college and other longer-term goals should favor stocks over bonds.
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Replacing Biden with anyone but Harris would be a real headache for Democrats Though the president remains devoted to running, Harris is likely the simplest replacement — with easiest access to the Biden campaign's millions.
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