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In the bidding wars at Sotheby’s this week — where the former couple Harry and Linda Macklowe were parting with much of their art collection after a bitter divorce — there were a few mysterious lulls.
Several of the best-known works sold for less than expected. Alberto Giacometti’s Le Nez, a bronze long-nosed figure, was hammered below its $70m to $90m estimate before an Andy Warhol silkscreen of Marilyn Monroe went for $41m, only slightly above the low end of its expected price range. It was somewhat incongruous given the enthusiasm seen minutes earlier that helped set records for
Nov 23 (Reuters) – The Nasdaq lagged its Wall Street peers on Tuesday as rising Treasury yields weighed on major technology stocks, while gains in banks and energy helped limit losses in the S&P 500 and
One of the core tenets of investing that people need to understand before they even begin to put money into stocks is that the market is not always rational. You can generally rely on certain principles to point you in the right direction, but there will be risk in any strategy since the share prices might move in ways that just don’t seem to make sense.
For example, meme stocks have become a feature of the market in 2021, which means that groups of individual small investors can foment excitement about a stock that doesn’t deserve your confidence and jack
Here are the most important news, trends and analysis that investors need to start their trading day:
Markets were higher after new Labor Department numbers showed that nonfarm payrolls increased by 531,000 for the month of October.
Spencer Platt/Getty Images
Dow futures fell more than 200 points as concern builds around European Covid outbreaks. Austria announced Friday morning that it will re-enter a full national lockdown due to a resurgence in cases. Nasdaq futures were modestly higher, however, supported by a generally upbeat premarket for tech stocks. Intuit shares
Kingsley Fanwo, Kogi commissioner for information, has alleged that some politicians with interest in the 2023 presidency hired the Economic and Financial Crimes Commission (EFCC) to discredit Yahaya Bello, the state governor.
Over the past months, the anti-graft agency and the Kogi government have been at loggerheads over allegations that the state runs an account in Sterling Bank containing N20 billion bailout loan.
The EFCC had alleged that there were suspicious fraudulent activities related to the account.
In August, a federal high court sitting in Lagos froze a Kogi state salary bailout account domiciled in Sterling Bank Plc following an
“Bank Is Just a Four Letter Word”
NEW YORK, November 22, 2021–(BUSINESS WIRE)–Alviere, the leading global embedded finance platform enabling any brand to deliver financial products and services to its customers and employees, today unveiled full page newspaper ads that officially announce a new era of financial services that will result in leading consumer brands offering all the same financial services traditionally only accessible at banking institutions.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211122005889/en/
(Graphic: Business Wire)
The series of four ads appear in “The Wall Street Journal.” The ads carry bold titles
Major cryptocurrencies are trading lower for the second consecutive day on Wednesday. Bitcoin, the world’s biggest and best-known cryptocurrency, slipped below $60,000 and was trading at $59,077.49 on the crypto exchange CoinDesk at 8.40 am (IST). This is nearly $10,000 fall from the record high of $69,000 that hit on November 10.
Ethereum, another popular and the second-biggest cryptocurrency by market value, fell more than 5 percent to $4,111.24 at 8:40 am on Wednesday.
Shiba Inu, which grabbed attention of the investors with stellar gains, fell over 5 percent to $0.000048 at 9 am on the CoinDesk.
Meme crypto Dogecoin
With signs of excessive speculation and high valuations in the stock market, the current environment resembles a late-cycle bubble that is very much “similar” to the dotcom boom in 2000, Bank of America says, predicting a negative year ahead for stocks in 2022.
“There are too many similarities between today and 1999/2000 to ignore,” said analysts led by Savita Subramanian, head of U.S. equity and quantitative strategy at Bank of
[Follow live updates on the upcoming meeting between President Biden and China’s leader, Xi Jinping.]
For decades, American banks have been eager to expand their business in China, the world’s second-largest economy. They’re finally getting their way — just as a spiraling corporate debt crisis threatens to rock the country’s financial system and China’s central government takes a stronger hand with big businesses.
In July, Citigroup became the first foreign bank to win approval to open a custody business in China, essentially acting as a bank for Chinese investment funds. In August, JPMorgan Chase got permission from the Chinese
Stocks ended Friday’s session weighed by growing concerns over nationwide COVID-19 lockdowns in Europe that raised fears about new restrictions beyond the continent, which pressured blue chip stocks, oil and the broader market.
The Dow slid 200 points, or 0.6%, settling at its lowest levels in 3 weeks and down1% on the week, while the S&P 500 notched a slim daily gain. However, the Nasdaq Composite set a fresh record, bolstered by rallying technology shares.
Markets were unsettled after the Austrian government announced a full lockdown starting on Monday, in response to cases of COVID-19 surging in Europe. The lockdown