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Popular Business News this Week

Top 100 Stories to Know for 25 Jun 2024 - United States

Bearish Nvidia option betsTrading in bearish options tied to Nvidia Corp. spiked on Thursday ahead of a record-setting "triple witching" expiration, as shares in the chip designer swung more than 5% from peak to trough.

Microsoft under fire for recent cybersecurity lapses

American Banker - 20 Jun 2024 03:00
Microsoft under fire forChinese and Russian hackers recently accessed government and company executives' email accounts, bringing scrutiny to the tech giant's security practices.
Sonoco purchases EuropeanPackaging giant Sonoco is poised to become the leading maker of metal food cans globally.
Fed's Goolsbee lays out dovishChicago Fed President Austan Goolsbee said Monday there are new signs of stress on the economy that should make the U.S. central bank at least wonder if its policy rate needs to be as high as it... currently is.
Bugatti unveils new sports carHigh-performance automaker Bugatti has unveiled its next-generation hyper sports car, the Tourbillon, its successor to the Chiron.

Nvidia's chips are very popular. Its brand, less so.

Business Insider - 24 Jun 2024 01:22
Nvidia recently became a multi-trillion-dollar company amid the AI boom. However, according to a consulting firm, it struggles with brand recognition.
China and EU to hold talks onThe EU and China still disagree about the import taxes, but have agreed to discuss them further.
US Government to Report SeizedThe Federal Accounting Standards Advisory Board (FASAB) has clarified that seized crypto assets should be treated as “nonmonetary property” while central bank digital currencies (CBDCs)... should be treated as monetary instruments. The federal authority claims that cryptocurrencies “do not typically possess all monetary characteristics,” emphasizing that they “are not effective as a unit of account, […]
Shein's £50billion LondonA series of criticisms levelled at Shein has irked some in the upper echelons of the Chinese government, according to senior City sources.
Ripple CEO Hails Latest CourtRipple CEO Brad Garlinghouse says the latest court ruling on Ripple’s securities lawsuit “is a big win.” He stressed that “absolutely nothing in the decision negates or changes... the fact that XRP is, in and of itself, not a security.” The Ripple executive slammed allegations of misleading statements about his XRP position, stating that the […]
All roads lead to Nvidia asNvidia Corp became the world's most valuable company, driving record inflows into tech funds. Bank of America Corp strategists noted $8.7 billion inflow in tech funds via EPFR Global data, with... strategist Michael Hartnett commenting on the impact of Nvidia's success.

Eurozone business activity slows on French vote risk

The Economic Times - 22 Jun 2024 06:06
Eurozone business activityEuro-area private-sector business activity lost momentum as France's snap election outcome weighs on firms. S&P Global's PMI fell to 50.8 in June, disappointing analysts. Europe's economy, recovering... from last year's recession, faces challenges.
Vietnamese Hackers Indicted inFour Vietnamese nationals were charged in a U.S. court for a series of cyber intrusions causing over $71 million in losses. The defendants, part of the cybercrime group “FIN9,” allegedly... hacked U.S. companies from May 2018 to October 2021, stealing non-public information, employee benefits, and funds. They used stolen personal and credit card information to […]
Under Armour to Settle ClaimsThe sportswear brand said it has agreed to pay $434 million to settle claims related to past company financials and focus on its restructuring plan.
Microsoft back as mostThe artificial intelligence chip giant briefly took the top spot from the software company this week.
American Airlines CEO SaysAmerican Airlines put employees on leave for their involvement in an incident where Black passengers were removed from a flight in Phoenix.
The global spike in luxuryGlobal sales growth for luxury goods is expected to slow this year, per a Bain & Compnay report. "Luxury shaming" in China could be a factor.
Central Banks Plan IncreasedThe World Gold Council’s 2024 survey reveals that central banks plan to increase gold reserves amid geopolitical and financial uncertainties. Over 80% of respondents expect global bullion... holdings to rise, and 29% of central banks plan to boost their own reserves. Motivations include strategic rebalancing, domestic production, and market concerns like crisis risks and inflation. […]
Interest rates expected to beDespite inflation falling to 2%, experts are expecting interest rates to be held at a 16-year high.
Boeing crash families demandThe families of victims of two 737 Max crashes also call for prosecutions a day after apology by chief executive.
Builders say they're stuck asAn economist for a home builder group said there's a catch-22 between inflation and interest rates.
California Moves to Modify LawGov. Gavin Newsom announced a deal with business and labor leaders heading off a ballot measure to repeal the law, which has cost companies billions.
TikTok could face lawsuit by"The investigation uncovered reason to believe named defendants are violating or are about to violate the law and that a proceeding is in the public interest," the FTC said in announcing it referred... the complaint to the Justice Department.
Amazon Is Fined Nearly $6California officials cited failures to disclose productivity requirements at two locations. The company said it would appeal.
Trump Media shares continue toTrump Media & Technology Group Corp. -- the company behind former President Donald Trump's Truth Social platform -- said Tuesday that regulators allowed some of its investors to resell certain... securities and made certain warrants available for exercise.