Business News
American Business News for 3 Dec 2024
Musk's record $56bn pay deal rejected for second time
BBC - 3 Dec 2024 03:07The judge said the pay package would have been the largest ever for the boss of a listed company.
Bitcoin, Not BRICS, Is the True Threat to US Dollar Reserve, Warns Wharton Professor
Bitcoin.com - 3 Dec 2024 03:45Wharton’s Jeremy Siegel called Trump’s 100% BRICS tariffs ironic, noting bitcoin—which Trump backs—is a bigger threat to the dollar as a global reserve. Wharton Professor:... Trump’s Bitcoin Advocacy Contradicts BRICS Tariff Threats Jeremy Siegel, professor emeritus of finance at the Wharton School, commented Monday on President-elect Donald Trump’s plan to impose 100% tariffs on BRICS […]
Jaguar releases a concept for its new EV model after a controversy over its rebranding — which didn't feature a car
Business Insider - 3 Dec 2024 03:01Jaguar has unveiled its "Type 00" concept car after a controversial rebranding campaign some critics called "woke." It's moving to an all EV lineup.
Trump names billionaire banker Warren Stephens as envoy to Britain
New York Post - 3 Dec 2024 02:18Stephens is the chairman, president and CEO of Little Rock, Arkansas-based financial services firm Stephens Inc., having taken over the firm from his father.
Enron announces return in elaborate prank by new owner: 'We're back. Can we talk?'
New York Post - 3 Dec 2024 00:04An Enron parody backed by a t-shirt company seemingly announced the disgraced energy company's return to business on Monday.
Microsoft's Bitcoin dilemma: Ride $5 trillion BTC wave or avoid risk
Coin Telegraph - 3 Dec 2024 16:00Microsoft's shareholders will soon vote on adding Bitcoin to its balance sheet. Will Michael Saylor's pitch Orange Pill the tech giant? What are the stakes and risks?
Predicting doubling of private-credit market, BlackRock strikes $12 billion deal for HPS
Market Watch - 3 Dec 2024 15:53In a widely anticipated announcement, BlackRock said it had reached an agreement to buy HPS Investment Partners for $12 billion in stock.
Brazil Groups Stablecoins With Foreign Currency in New Regulatory Draft
Bitcoin.com - 3 Dec 2024 15:30The Central Bank of Brazil has opened a public consultation on a regulatory draft that correlates the treatment of dollar-pegged stablecoins with foreign currency. The proposed rules, which will now... be discussed with relevant stakeholders in the national cryptocurrency ecosystem, would require exchanges dealing in stablecoins to obtain two different operating licenses: one as a […]
Terns Pharma broadens beyond obesity drugs with upbeat data in leukemia trial
Market Watch - 3 Dec 2024 15:04Terns Pharmaceuticals Inc.'s stock jumped 7.5% premarket Tuesday, after the company announced positive data from an early-stage trial of a treatment for chronic myeloid leukemia.
Vivek Ramaswamy says DOGE will 'carefully scrutinize' federal loans to Tesla rivals
Business Insider - 3 Dec 2024 14:45The Biden administration is providing financing for two battery factories being built by Stellantis and Samsung, as well as a Rivian EV plant.
China hits back at Biden's chip restrictions by banning shipments of key materials to the US
Business Insider - 3 Dec 2024 14:44China's Ministry of Commerce said it would immediately halt exports to the US of materials that could be used for both civilian and military purposes.
Larry Ellison is investing up to $165 million to turn University of Oxford science research into products
Business Insider - 3 Dec 2024 14:32Larry Ellison's $165 million Oxford investment aims to transform research into products, in areas including health and clean energy.
Indian Expert Questions Legality of US Sanctions on BRICS Over Dollar Exit
Bitcoin.com - 3 Dec 2024 08:30Duvvuri Subbarao, former Governor of the Reserve Bank of India, cast doubt on Donald Trump’s proposal to impose 100% tariffs on BRICS nations if they abandon the dollar, calling it legally and... practically uncertain. He questioned whether U.S. laws allow sanctions based solely on shifting away from the dollar or how such actions would be […]
$113B Asset Manager Seeks SEC Approval to Launch XRP ETF as Market Booms
Bitcoin.com - 3 Dec 2024 02:30A $113 billion asset manager has filed to launch a spot XRP ETF as the crypto’s value skyrockets over 400%, solidifying its third-largest rank. XRP ETF Proposal Filed by $113B Global Asset... Manager for SEC Approval Wisdomtree, an asset manager with $113 billion in global assets under management, has submitted a registration statement to the […]
Gold Rises Ahead of Key U.S. Economic Data
Wall Street Journal - 3 Dec 2024 02:07Gold edged higher in early Asian trade, ahead of key U.S. economic data this week such as the monthly jobs report for November.
Political turmoil in France sends euro tumbling and borrowing costs soaring as manufacturing crisis deepens
Daily Mail - 3 Dec 2024 00:00The market turbulence came as Right-wing and Left-wing parties said they would back a no-confidence motion against prime minister Michel Barnier.
Energy & Utilities Roundup: Market Talk
Wall Street Journal - 3 Dec 2024 23:58Find insight on Nel, oil prices and more in the latest Market Talks covering Energy and Utilities.
Basic Materials Roundup: Market Talk
Wall Street Journal - 3 Dec 2024 23:57Find insight on Lanxess, AngloGold Ashanti, BHP and more in the latest Market Talks covering basic materials.
Auto & Transport Roundup: Market Talk
Wall Street Journal - 3 Dec 2024 23:55Find insight on Mercedes-Benz, Frontier Airlines, BMW and more in the latest Market Talks covering the Auto and Transport sector.
Financial Services Roundup: Market Talk
Wall Street Journal - 3 Dec 2024 23:54Find insight on Worldline , Swiss Life, RHB Bank and more in the latest Market Talks covering financial services.
Wells Fargo to Sell San Francisco Headquarters
Wall Street Journal - 3 Dec 2024 23:54The move is part of a broader shift in the bank's power base to the East Coast.
Alex Mashinsky Pleads Guilty to Fraud in Celsius Collapse Scandal
Bitcoin.com - 3 Dec 2024 23:53Former Celsius CEO Alex Mashinsky pleaded guilty to commodities fraud and a fraudulent scheme to manipulate the price of Celsius's native token, facing up to 20 years in prison. Arrested in 2023,... Mashinsky was accused of defrauding customers by misrepresenting Celsius's financial health to secure crypto deposits and sustain the platform's services. Celsius, a crypto […]
Okta shares pop 18% on earnings beat, strong guidance
CNBC - 3 Dec 2024 23:48Okta shares soared on Tuesday after the company reported strong third quarter results
City watchdog paves the way for £50bn Shein float despite human rights concerns
Daily Mail - 3 Dec 2024 23:46FCA boss Nikhil Rathi said the decisions on listings are based on company disclosures and not 'every aspect of their corporate behaviour'.
Google Cloud launches Veo AI video generator model on Vertex
Venture Beat - 3 Dec 2024 23:45Unveiled at Google's I/O developer conference, Veo is Google DeepMind's response to competitors like Runway's Gen-3 and OpenAI's Sora.