FTX’s FTT token drops 80%, wiping out over $2 billion in value

FTX’s FTT token drops 80%, wiping out over $2 billion in value

FTT, the token native to crypto exchange FTX, lost most of its value after rival Binance, the world’s largest cryptocurrency firm, announced plans to buy the company. The coin traded at around $22 on Monday and dipped below $5 on Tuesday afternoon in New York. The selloff wiped out more than $2 billion in value … Read more

Alibaba’s international arm is investing millions in South Korea’s expansion

Alibaba’s international arm is investing millions in South Korea’s expansion

Alibaba’s international e-commerce platform AliExpress has expanded in South Korea and Brazil, in addition to Europe. Pictured here is an AliExpress locker in Poland in July 2022. Nurphoto | Nurphoto | Getty Images BEIJING — Ali Baba‘s international e-commerce company AliExpress is spending the equivalent of $7 million to reach consumers in South Korea, the … Read more

UK’s first large-scale lithium refinery chooses location

UK’s first large-scale lithium refinery chooses location

A lithium-ion battery photographed at a Volkswagen plant in Germany. Lithium-ion batteries are crucial components of electric vehicles. Jan Woita | Image Alliance | Getty Images LONDON – A facility described as Britain’s “first large-scale lithium refinery” will be located in the north of England, and those behind the project hope its output will hit … Read more

Adidas warns of big earnings hit after ending Ye partnership

Adidas warns of big earnings hit after ending Ye partnership

Kanye West at an event announcing a partnership with Adidas on June 28, 2016 in Hollywood, California. Getty Images Adidas on Wednesday cut its full-year guidance on the back of the German sportswear giant’s termination of its partnership with Kanye West’s Yeezy brand. The company ended its relationship with Ye, formerly known as Kanye West, … Read more

Fetterman beats Trump pick Oz, NBC News projects

Fetterman beats Trump pick Oz, NBC News projects

Pennsylvania Democratic Lt. John Fetterman will defeat Republican Dr. Mehmet Oz in a crucial Senate race that could prove to be a decisive blow in the battle for control of the upper chamber of Congress, NBC News projects. With 90% of the vote counted, Fetterman led Oz 49.4% to 48.1%, a margin of about 66,000 … Read more

Two portfolios — one GOP, one Democrat — make predictions about the US midterms

Two portfolios — one GOP, one Democrat — make predictions about the US midterms

ShareShare the article via FacebookShare the article via TwitterShare the article via LinkedInShare the article via email Energy, defense, insurance and pharmaceutical stocks will benefit from policies set by Republicans. Clean energy is a winner if the Democrats excel. Plus, the latest on the midterms and aid to Ukraine, CNBC’s Ted Kemp reports.

Stock futures inch lower as Wall Street awaits midterm election results

Stock futures inch lower as Wall Street awaits midterm election results

Traders work on the floor of the New York Stock Exchange (NYSE) on October 27, 2022 in New York City. Stocks continued their upward gains on Thursday, with the Dow rising nearly 400 points after a new GDP report beat expectations. Spencer Platt | Getty Images News | Getty Images Stock futures were lower – … Read more

JD Vance beats Tim Ryan, NBC News projects

JD Vance beats Tim Ryan, NBC News projects

Republican JD Vance defeated Democratic Rep. Tim Ryan in Ohio’s U.S. Senate race, keeping the seat red and boosting the party’s bid to flip control of the chamber, NBC News predicted. Vance’s victory will boost the GOP’s chances of regaining control of the Senate, which is currently split 50-50 by party. Vance and Ryan vied … Read more

Here are the pros and cons of owning cryptocurrency in your 401(k) plan

Here are the pros and cons of owning cryptocurrency in your 401(k) plan

Luke Chan | E+ | Getty Images Cryptocurrency is starting to emerge as an alternative asset class in some 401(k) plans. Retirement savers may wonder if it is wise to invest. “Making it so easy and accessible has both advantages and disadvantages [for investors],” said Douglas Boneparth, a certified financial planner and founder of Bone … Read more