economic news

Stock futures rise as Wall Street tries to recover from Tuesday’s rocky session

Stock futures traded higher on Wednesday as Wall Street tries to regain its footing after a tough first session of the year. Futures contracts linked to the Dow Jones Industrial Average rose 111 points, or 0.3%. S&P 500 and Nasdaq-100 futures rose 0.5% and 0.7% respectively. Sentiment was boosted in part by encouraging inflation data …

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Ant gets approval to expand its consumer finance business

The regulatory review forced Hangzhou-based Ant Group to abruptly suspend plans for a massive IPO in 2020. CGV | Visual Group China | Getty Images BEIJING — Ant Group’s consumer finance unit has received approval to more than double its registered capital, a sign of progress in addressing regulators’ concerns. Since the abrupt suspension of …

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Asia-Pacific markets, Fed, Wall Street, Apple, Tesla, Japan PMI

Alibaba shares rise after Ant Group receives investment plan approval Hong Kong-listed Alibaba shares rose 6.43% in Wednesday morning trading – after China’s Banking and Insurance Regulatory Commission approved a capital expansion plan by Ant Group for its consumer financial unit based in Chongqing. According to a review posted last weekChinese regulators have given the …

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Sam Bankman-Fried pleads not guilty to fraud charges in New York

Former FTX chief executive Sam Bankman-Fried (C) arrives to plead before U.S. District Judge Lewis Kaplan in federal court in Manhattan, New York, January 3, 2023. Ed Jones | AFP | Getty Images Sam Bankman-Fried pleaded not guilty in federal court in New York on Tuesday to eight counts related to the collapse of his …

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Stock futures rise slightly ahead of the first trading week of the new year

Traders on the floor of the NYSE, October 21, 2022. Source: NYSE Stock futures rose late Monday as traders braced for a flurry of economic data and the minutes of the Federal Reserve’s latest meeting this week to kick off the new year. Futures contracts linked to the Dow Jones Industrial Average rose 80 points, …

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Nasdaq closes out its first four-quarter slump since dot-com crash

The once high-flying tech sector has suffered a strong sell-off this year on fears that the sector’s growth could be dampened by rising interest rates. The tech-heavy Nasdaq Composite is down more than 14%. Chris Hondros | Journalists | Getty Images A lot has changed in technology since the dot-com boom and bust. The Internet …

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Stocks fall in 2022’s final trading session as Wall Street wraps up worst year since 2008

Shares fell on Friday as investors made their final trades in the worst year for the market since 2008. The Dow Jones Industrial Average slipped 168 points, or 0.5%. The S&P 500 lost 0.7%, while the Nasdaq Composite fell 1.1%. Friday marks the last day of trading in what has been a painful year for …

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