Text size After two days of gains, investors are preparing for declines tomorrow. Spencer Platt/Getty Images US stock futures fell on Wednesday evening as markets appeared to reverse course after two straight days of gains for the major indexes. T indices rose on Tuesday in a particularly strong day for technology stocks. The S&P 500 … Read more
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Updated July 20, 2022 at 18.17 ET Listen to the article (2 minutes) Tesla reported its first sequential drop in quarterly profit in more than a year as it navigates global economic turmoil and recovers from an extended shutdown at its Shanghai assembly plant. The company has felt the sting of supply chain disruptions, the … Read more
Updated July 20, 2022 at 17:49 ET Listen to the article (2 minutes) Casinos in the gambling hub of Macau will be allowed to reopen on Saturday after a nearly two-week shutdown amid a Covid-19 outbreak, according to the government. The city-wide shutdown, which began on July 11, was the first closure of casinos in … Read more
WASHINGTON—US lawmakers moved closer to a bipartisan deal on new legislation that would regulate so-called stablecoins as part of efforts to introduce basic safeguards in volatile cryptocurrency markets. The potential deal would mark the first major step in applying tougher rules to an industry that developed almost without regulation. Biden administration officials and a bipartisan … Read more
Black stone is in the final stages of raising a new real estate fund that would set a record as the largest vehicle of its kind, defying market volatility and a crowded fundraising landscape. The private-equity giant said in a regulatory filing Wednesday that it has closed on commitments totaling $24.1 billion for Blackstone Real … Read more
The decline in venture capital funding has spread to early-stage startups, with that segment of the market suffering one of the biggest investment declines in more than a decade. In the second quarter, venture capitalists invested about $16 billion in U.S. early-stage deals — known as Series A and B rounds — down 22% from … Read more
A mortgage protest continued to bubble up in China on Wednesday, adding pressure on Chinese authorities to directly address growing discontent among homebuyers who have plowed their savings into unfinished apartments. About 200 people gathered in front of the Hubei office of the China Banking and Insurance Authority, while uniformed security personnel stood nearby to … Read more
A cryptocurrency lender backed by Peter Thiel‘s Valar Ventures and Coinbase Global Inc. filed for creditor protection in Singapore after pausing withdrawals. Vauld Group filed an application on July 8 seeking a moratorium in favor of the company, a company spokesman confirmed. The move gives Vauld and its management the “breathing space it requires to … Read more
The biggest problem facing the US housing market is that there are not enough homes available. The slowdown in sales is unlikely to do much to alleviate the situation and may in time make it even worse. The National Association of Realtors said Wednesday that 5.12 million previously owned homes were sold in June, at … Read more