In a significant move, major financial firms have approved guidelines for using tokenized shares of money-market funds from financial giants like BlackRock and Franklin Templeton as collateral in trading. This step marks a notable advancement in integrating innovative financial technologies into traditional markets.
Money-market funds are seeing a surge in cash inflows despite a new regulatory overhaul that introduces costly mandatory fees for the industry. This trend highlights investor confidence in these funds as a safe place to park their money, even amid increased costs. Many are flocking to these funds for their stability, prioritizing safety over potential returns amidst changing market conditions.
StandardAero Inc. saw its shares jump 36% in their trading debut after raising $1.44 billion in an initial public offering. The aircraft maintenance services provider's successful launch highlights strong investor interest in the aviation sector.
On Wednesday, Bank of America experienced significant online service disruptions, leaving many customers unable to access their accounts. Reports began surfacing around noon Eastern Time, with DownDetector noting that approximately 5,000 users had reported issues by 3 p.m. ET. Customers expressed frustration on social media, with some unable to log in at all, while others ...
The yen took a hit today after Japan's new Prime Minister Shigeru Ishiba stated that the economy isn't prepared for another interest rate hike from the central bank. His comments sent shockwaves through currency markets, leading to a significant drop in the yen's value.
TotalEnergies CEO Patrick Pouyanne announced that the French energy company is actively developing plans to list its shares in New York, alongside Paris and other European exchanges. This move aims to attract more U.S. investors.
At The Earthshot Prize Innovation Summit 2024, actor Benedict Cumberbatch and artist-director Sophie Hunter emphasized the crucial role of storytelling in the fight against climate change. They highlighted how creative narratives can inspire action and foster understanding around environmental issues. Cumberbatch noted that compelling stories have the ability to connect people emotionally, driving them to engage in solutions. Hunter added that art can visualize the impacts of climate change, making the issue more relatable. Together, they underscored the power of storytelling as a tool to motivate and mobilize the public for a sustainable future.
US stocks could be gearing up for a year-end rally, according to Scott Rubner from Goldman Sachs. After a rough few weeks in late October, he predicts that the S&P 500 Index might surpass the 6,000 mark.
Americans can legally bet on congressional elections again after a U.S. appeals court cleared the way for it just five weeks before the November polls. This ruling opens the floodgates for a new wave of political betting as voters gear up for the elections.
New York Mayor Eric Adams may face additional charges in his corruption case, according to prosecutors. They indicated that it’s “quite likely” other defendants could be identified as well.
