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Author: ikaro

  • Regional banks are getting the attention, but the concerns are greater, says former top supervisor

    Regional banks should not be the only source of concern for potential fallout from the fast pace of rate hikes by the Federal Reserve over the past year, a former banking supervisor said. “I don’t see regional banks having any particular problem,” said Sheila Bair, who ran the Federal Deposit Insurance Corp. from 2006 to […]

  • Crypto will be ‘over’ in the US if Coinbase loses battle with SEC. This is why

    Hello! Welcome back to Distributed Ledger. This is Frances Yue, crypto reporter at MarketWatch. Crypto exchange Coinbase MINT said Wednesday it received a notice from Wells from the Securities and Exchange Commission that could lead to formal charges. The SEC’s Wells notice covered an unspecified portion of the exchange’s publicly traded digital assets, the staking […]

  • Character.ai valued at $1 billion after $150 million round of A16Z

    Character.AI, an artificial intelligence start-up founded by two former Google employees, is capitalizing on venture capitalists’ unquenchable appetite for deals in the hottest space of technology. The two-year-old company said Thursday it had raised $150 million at a $1 billion valuation in a funding round led by Andreessen Horowitz. Noam Shazeer and Daniel De Freitas, […]

  • Accenture is cutting 19,000 jobs as IT spending declines

    Accenture PLC is cutting around 19,000 jobs over the next 18 months, or 2.5% of its workforce, as the professional services company looks to cut costs and streamline operations amid declining IT spending. The company, which offers IT consulting and other business services, said in a filing filed Thursday that most of the employees expected […]

  • The Fed’s unwanted ally to curb inflation: credit crunch

    Comment on this story Remark WASHINGTON — The Federal Reserve is getting some unwanted help in its bid to slow the U.S. economy and beat the worst inflation in four decades: a reduction in bank lending. The upheaval in the financial system that followed the collapse of two major US banks increases the likelihood that […]

  • Stocks rise after the Fed signals rate hikes are about to end

    Stocks were higher Thursday afternoon, though off their best levels of the day, as the Federal Reserve’s signal on Wednesday indicated that its rate hike campaign could be nearing its end on concerns about stability in the global banking system. At around 2:20 PM ET on Thursday, the S&P 500 (^GSPC) was up 0.7%, the […]

  • Factbox: Warren Buffett’s Investments in Financial Firms

    NEW YORK, March 23 (Reuters) – Berkshire Hathaway’s Warren Buffett has been in talks with senior officials in the Biden administration about the banking crisis, leading some to speculate that Buffett might consider investing in the sector following the collapse of Silicon Valley Bank . Buffett is known to invest during tough times for the […]

  • Fed’s Powell versus inflation versus the markets

    Fed Chairman Jerome Powell at yesterday’s press conference. Photo: Alex Wong/Getty Images On Wednesday afternoon, the Federal Reserve not only raised interest rates for the ninth consecutive time in the face of a banking crisis. It also confirmed that its plans for the year remain more or less intact and that almost all of its […]

  • How much you would have if you invested $1,000 ten years ago

    Sopa Images | Rocket | Getty Images Nike continues to attract sneaker fans and activewear enthusiasts. The retailer reported revenue of $12.4 billion for the third fiscal quarter of 2023, surpassing forecasts of $11.47 billion, according to Refinitiv’s consensus estimates. The company also reported earnings per share (EPS) of $0.79, compared to the $0.55 analysts […]

  • Powell’s Balancing Act raises some questions

    Comment on this story Remark The Federal Reserve’s decision to raise rates by 25 basis points this week split the difference between the larger hike signaled earlier this month and the pause many demanded amid alarm over distressed banks. Under test conditions, the modest increase in the policy rate to a range of 4.75% to […]