UST debacle will ‘probably be the end’ of algorithmic stablecoins

Luna, the sister cryptocurrency of controversial stablecoin TerraUSD, dropped to $0. The collapse of the algorithmic stablecoin TerraUSD has raised question about the future survival of similar crypto assets. Dan Kitwood | Getty Images News | Getty Images Algorithmic stablecoins like terraUSDwhich collapsed and sent shockwaves through the cryptocurrency market, are unlikely to survive, the … Read more

Javier Olivan, Meta’s new COO, built his career on global growth

Mark Zuckerberg, chief executive officer of Facebook Inc., right, pauses while speaking as Javier Olivan, vice president of growth and analytics at Facebook Inc., looks on at Billionaire Carlos Slim’s Telmex Foundation annual event for scholarship students in Mexico City, Mexico, on Friday, Sept. 5, 2014. Zuckerberg said he’s willing to spend whatever it takes … Read more

Self-driving car companies’ first step to making money isn’t robotaxis

A WeRide robotaxi with health supplies heads to Liwan district on June 4, 2021, in the southern Chinese city of Guangzhou. Southern Metropolis Daily | Visual China Group | Getty Images BEIJING — While governments may be wary of driverless cars, people want to buy the technology, and companies want to cash in. It’s a … Read more

Morgan Stanley says buy the dip on these 5 global stocks

Global markets have been slammed by a slew of macro headwinds, but Morgan Stanley sees opportunities for investors to pile into “fallen angels” — stocks which the bank thinks have sold off materially and now look attractive. With the MSCI Europe down nearly 14% this year, Morgan Stanley believes European stocks have been oversold, with … Read more

Stock Market Today: Dow Falls, Salesforce Gains, Amazon Rises

The stock market dropped Wednesday following still-strong economic data and the start of the Federal Reserve’s “quantitative tightening.” Tea Dow Jones Industrial Average fell 177 points, or 0.5%, while the S&P500 dropped 0.8%, and the Nasdaq Composite declined 0.7%. Stocks tried to rally in the afternoon but ultimately stumbled into the close. “US stocks turned … Read more

WHO says monkeypox has been spreading undetected as global cases rise to more than 550

In this photo illustration, a photo of a hand infected with the Monkeypox virus is seen through a magnifying glass. Monkeypox is a viral disease that occurs mainly in central and western Africa. Rafael Henrique | light rocket | Getty Images The World Health Organization on Wednesday confirmed more than 550 monkeypox cases across 30 … Read more

Levi Strauss & Co. (LEVI) reaffirms 2022 outlook, boosts guidance

A sign is posted in front of the Levi Strauss & Co. headquarters on April 09, 2021 in San Francisco, California. Justin Sullivan | Getty Images News | Getty Images Levi Strauss & Co. on Wednesday maintained its outlook for the full year and boosted its financial targets over the next five years as the … Read more

GM’s new concept car to revolutionize the brand for EVs

Buick Wildcat Concept Buick DETROIT— General Motors on Wednesday unveiled the Buick Wildcat, a new concept car designed to signal a revolutionary change for the brand, as it moves to offer only electric vehicles in North America by the end of this decade. The car reflects the future design and technological directions of the 119-year-old … Read more

Capri Holdings, Salesforce, Weibo and others

Check out the companies making headlines before the bell: Capri Holdings (CPRI) – The parent of luxury brands, like Michael Kors, Versace and Jimmy Choo, saw its stock surge 11% in the premarket after posting better-than-expected quarterly numbers before giving back nearly all those gains. Capri earned an adjusted $1.02 per share, 20 cents above … Read more

Autoworker union accuses GM’s joint venture of denying access for organizing

Striking United Auto Workers members and supporters attend a speech by Vermont Sen. Bernie Sanders outside General Motors’ Detroit-Hamtramck Assembly plant on Sept. 25, 2019 in Detroit. Michael Wayland/CNBC DETROIT – The United Auto Workers union is accusing a new General Motors joint venture of denying access to workers to conduct a preliminary organizing vote. … Read more