Ginni Rometty, CEO of IBM on Mad Money to discuss IBM’s acquisition of Redhat. Adam Jeffery | CNBC Check out the companies making headlines after hours on Tuesday IBM — The technology company’s stock rose over 3% in extended trading on Tuesday after it reported fourth-quarter results that topped analysts’ estimates. IBM also gave guidance
A construction worker installs a rooftop on to a new home being built in Fairfax, Virginia. Paul J. Richards | AFP | Getty Images Homebuilding took a sharp turn higher to end 2019, but it is far from enough to satisfy the current demand. The U.S. housing market is short nearly 4 million homes, according
New York Gov. Andrew Cuomo wants to tackle the state’s budget gap by controlling spending instead of with major revenue increases. Cuomo released his $178 billion 2021 fiscal year budget proposal Tuesday amid the Empire State grappling with a $6.1 billion shortfall tied largely to a $4 billion increase in Medicaid costs. The Democratic governor,
A Swiss government memo appears to show a softening in the nation’s stance towards Libra, the proposed digital coin led by Facebook (NASDAQ:FB), just weeks after its former president described the project as a failure. The memo, seen by Bloomberg, shows the Swiss government refusing to rule out the possibility that Libra may one day
Six central banks have formed a working group with the Bank of International Settlements (BIS) to share findings as each investigates potential cases for central bank digital currencies (CBDCs). The group will be comprised of the central banks of Sweden, Canada, Switzerland, the U.K. and Japan, as well as the European Central Bank (ECB) and
Square Crypto, the payment company’s bitcoin-focused wing, is building a “Lightning Development Kit” for wallet and app developers to more easily build on the layer-2 solution. Announced Tuesday, the new kit includes an API, language tools, demo apps and other features to help developers integrate support for Lightning payments into their own wallets. Existing bitcoin
Jamie Dimon, Chairman and CEO of JP Morgan Chase. Adam Jeffery | CNBC J.P. Morgan Chase announced the creation of a new business called the Development Finance Institution to boost private investment in emerging-market development projects. The lender said it can finance more than $100 billion annually from its investment bank and created a formal
Although municipal bond volume is anticipated to rise almost two billion, it won’t be nearly enough to satisfy investors’ thirst for the asset class. There is a clear theme to the expected issuance, as it is heavy on taxable corporate CUSIP healthcare bonds. IHS Ipreo is estimating supply will come in at $7.12 billion, up
Three plaintiffs who have been involved in three separate lawsuits against Tether and its sister company Bitfinex have moved to consolidate their cases into one class-action suit. Court filings by David Leibowitz et al., Eric Young et al., and Bryan Faubus et al., accuse Tether and Bitfinex of creating “the largest bubble in human history”
CoinDesk will be on the ground in Davos from Jan. 20–24 chronicling all things crypto at the annual gathering of the world’s economic and political elite. Below is the first edition of our pop-up newsletter, CoinDesk Confidential: Davos. Subscribe below. Get your Fourth Industrial Revolution hardhats on – it’s time to ponder the slew of problems
The South Korean government is said to be considering imposing a 20 percent tax on all cryptocurrency transactions. South Korea’s Yonhap News Agency reported Monday that officials from the Ministry of Economy and Finance’s income tax office had been reviewing a new proposal that could see the country adopt a clearer regime for how it
FAANG stocks displayed at the Nasdaq. Adam Jeffery | CNBC Morgan Stanley and Nomura analysts on Friday raised their price targets for Apple stock as the tech giant’s shares continue to surge. However, the latter cautioned that inflated iPhone 12 expectations “may make the music stop” and questioned market enthusiasm about a “5G supercycle.” In
Traders work on the floor of the New York Stock Exchange (NYSE) on November 04, 2019 in New York City. Spencer Platt | Getty Images Check out the companies making headlines midday Monday: Tesla — Tesla rose more than 6% after Oppenheimer hiked its price target for the electric car maker to $612 per share
The secondary market price of Puerto Rico’s 2014 general obligation bond increased 40% since June 11. On that date IHS Markit had an imputed market price of 47 cents on the dollar. The price as of Thursday was 66.75 cents on the dollar. One analyst said, “Much of the recent economic news for PR has
Ethereum (ETH) continues to gather pace after an impressive start to the year. The second-largest cryptocurrency by market cap has already risen to a two-month high of $165 after a 13% rally this week. Over the past month, the cryptocurrency has rallied by more than 35% and is showing no signs of slowing down. Ethereum
This is part of a series of op-eds previewing the World Economic Forum in Davos, Switzerland. CoinDesk will be on the ground in Davos from Jan. 20–24 chronicling all things crypto at the annual gathering of the world’s economic and political elite. Follow along by subscribing to our pop-up newsletter, CoinDesk Confidential: Davos. Jeremy Allaire is co-founder, chairman
Credits for LTB#423 This episode of Let’s Talk Bitcoin! is sponsored by Brave.com and eToro.com. Original Photo by Ubaidhulla Adam on Unsplash This episode featured Adam B. Levine, Stephanie Murphy, and Jonathan Mohan Music for today’s episode was provided by Jared Rubens, and general fuzz, with editing by Jonas. Would you like to Sponsor a future episode of
Confetti falls as Lyft CEO Logan Green (C) and President John Zimmer (LEFT C) ring the Nasdaq opening bell celebrating the company’s initial public offering (IPO) on March 29, 2019 in Los Angeles, California. The ride hailing app company’s shares were initially priced at $72. Mario Tama / Getty Images TE Connectivity This week, Wells
A pedestrian walks by Morgan Stanley headquarters in New York. Getty Images Check out the companies making headlines in midday trading. Morgan Stanley — Morgan Stanley shares jumped more than 7% after the bank posted quarterly profit numbers that easily beat expectations. The company earned $1.30 per share on revenue of $10.86 billion. Analysts polled
If you have money troubles, understanding your priorities and setting financial goals are key to turning things around so you can get on a firm financial footing that will continue into retirement. While this sounds logical to most, more than 1 in 5, or 21%, of Americans don’t save any of their annual income. That’s
Chicago’s $1.5 billion sale of general obligation refunding bonds and Sales Tax Securitization Corp. debt generated $310 million of savings for budget relief this year and next, city officials said. The deals that priced Wednesday and Thursday marked the first bond issues by Mayor Lori Lightfoot’s administration. Lightfoot’s $11.65 billion 2020 budget relies on $210
New York-based crypto-asset exchange Gemini has announced an increase in insurance coverage of its custody platform. The cryptocurrency exchange has increased its custody limit to $200 million. This is the largest cold storage insurance limit for any exchange globally. Gemini Launches Insurance Company This move indicates that Gemini Custody expects the demand for its services
You might have heard of bitcoin’s “lightning network,” but don’t know what’s going on with it right now. Who are the mysterious big players behind this magical technology that allegedly solves all of bitcoin’s problems? Lightning is one of the most promising technologies in the space right now, even drawing in Square and Twitter CEO
Plaintiffs in three separate putative class action lawsuits against Bitfinex and Tether have moved to consolidate their cases, according to a Thursday court filing. Court filings by David Leibowitz et al, Eric Young et al, and Bryan Faubus et al, accuse the sister companies of manipulating the crypto markets. Their cases share common threads, filings
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 15, 2020. Brendan McDermid | Reuters Wall Street may be getting a bit too excited about the stock market’s hot start to the new year. The S&P 500 has already jumped nearly 3% for 2020, rising more than
A Dave & Buster’s location in Irvine, California. Scott Mlyn | CNBC Check out the companies making headlines in midday trading on Friday: Alphabet – The Google-parent’s stock rose nearly 1% after UBS increased its price target, saying shares will climb more than 15% this year. The firm’s optimistic outlook came a day after a
A contractor uses a hammer while working on townhouse under construction at the PulteGroup Metro housing development in Milpitas, California, Oct. 25, 2018. David Paul Morris | Bloomberg | Getty Images The nation’s single-family homebuilders are feeling very confident about their business in the new year, as high demand and low supply make for a
Second, when interest rates go higher, as they will do sooner or later, it will become much more painful to finance annual deficits. “Third, in some countries high debt levels may generate default risk, high interest rates, capital outflows (as in Greece), and a debt crisis that may impose austerity when it is particularly costly,”
The Libra Association, the non-profit organization overseeing Libra, has established a five-member Technical Steering Committee (TSC) to oversee and coordinate the technical design and development of the Libra network. The responsibilities of the TSC are to direct the technical roadmap of the Libra network, form working groups to fast track research into specific issues, guide
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