Kristin N. Johnson, a commissioner at the Commodity Futures Trading Commission (CFTC), has stated that the regulatory body is in talks with Binance to address concerns about the cryptocurrency exchange’s conduct. The CFTC has sued Binance, its CEO Changpeng Zhao, and its former chief compliance officer, alleging that the platform solicited US users and allowed
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The ongoing conflict in Sudan may spread beyond the country’s borders and have far-reaching consequences, warn analysts, as a new ceasefire seeks to enable Sudanese citizens and foreign nationals to flee. The fighting began 10 days ago as a result of a power struggle between the Sudanese Armed Forces (SAF) under President Gen. Abdel-Fattah Burhan
UBS has reported a 52% decline in net profit for the first quarter of 2019, reaching $1.03 billion. This comes in below analyst expectations of a net profit nearing $1.75 billion for the period. Although these are the bank’s first results since announcing its takeover of rival Credit Suisse, UBS CEO Sergio Ermotti resumed his
As the US economy slows down, the competition between the East and West coast ports to be the top trade volume hub intensifies. However, the pie is shrinking as future orders for ocean freight continue to decline. The latest trade data from the Port of New York and New Jersey, the country’s largest container port
US stock futures remained stagnant on Monday night as traders awaited corporate earnings announcements from several Big Tech companies and consumer discretionary names, as well as new economic data. Dow Jones Industrial Average futures slipped by less than 0.01%, while S&P 500 and Nasdaq 100 futures inched down 0.05% and 0.02%, respectively. In after-hours trading,
Standard Chartered analyst Geoff Kendrick has predicted that bitcoin’s value could surge to $100,000 by the end of 2024. Kendrick explained that the collapse of Silicon Valley Bank and other mid-tier US lenders has strengthened the case for bitcoin as a “decentralized, trustless and scarce digital asset.” He believes that the current stress in the
Samsung, one of the biggest tech giants in the world, is expected to report its lowest profit in 14 years due to the fall in prices for memory chips, its biggest business. Despite high inventories, demand for memory chips remains weak, causing a memory chip glut in the market. Lowest Profit since 2009 The South
Credit Suisse has revealed that it experienced net asset outflows of CHF 61.2bn ($68.6bn) during the first quarter of 2023, which resulted in its emergency rescue by domestic rival UBS. The bank’s adjusted pre-tax loss for the quarter came in at CHF 1.3bn. Despite this, it posted a one-off profit of CHF 12.43bn due to
Wrexham, a Welsh soccer club owned by Hollywood stars Ryan Reynolds and Rob McElhenney, has secured promotion to the English Football League (EFL) system for the first time in 15 years. The club won the Vanarama National League title with a 3-1 victory over Boreham Wood, with two goals from striker Paul Mullin in the
On Sunday night, stock futures fell slightly as investors waited for a slew of corporate earnings from big tech companies and fresh economic data releases. Dow Jones Industrial Average futures declined by 45 points, or 0.13%, while S&P 500 and Nasdaq 100 futures dipped 0.14% and 0.15%, respectively. The major indices suffered a downturn in