In a monumental shift towards protectionism, President-elect Donald Trump has unveiled a strategy to impose substantial tariffs on imports from China as well as its North American trading partners. Following a post on his Truth Social platform, Trump declared an additional 10% tariff on all Chinese goods entering the United States. This move is aimed
Finance
The Consumer Financial Protection Bureau (CFPB) recently made headlines with its announcement to implement stricter supervision over nonbank entities providing financial services, particularly those related to digital payments and wallet applications. This updated regulatory approach aims to ensure that major tech firms and fintech companies adhere to the established laws that govern traditional banking institutions.
In recent years, the soaring popularity of cryptocurrencies, particularly Bitcoin, has prompted investors to reconsider their portfolios. George Milling-Stanley, a prominent strategist at State Street Global Advisors and the force behind the SPDR Gold Shares ETF, recently shared his insights regarding these emerging digital assets. His commentary emphasizes a critical perspective: that the allure of
After two decades, George Milling-Stanley, the visionary behind the pioneering gold-tracking exchange-traded fund (ETF), continues to express a steadfast optimism regarding gold as an investment. During a recent conversation with CNBC’s “ETF Edge,” he articulated a positive outlook for the remainder of this year and into the next. The chief gold strategist at State Street
As global economies attempt to recover from the disruptions caused by the COVID-19 pandemic, the discussion surrounding trade policies has resurfaced with renewed urgency. One of the prominent voices cautioning against aggressive tariff implementation is Ken Griffin, the CEO of Citadel. Speaking to the Economic Club of New York, Griffin highlighted the potential risks of
In the third quarter of 2023, Baidu, the prominent Chinese technology firm, reported a 3% decrease in revenue compared to the same period last year. However, this decline was mitigated by stronger-than-anticipated numbers, driven primarily by growth in its artificial intelligence (AI) cloud services. The company’s revenue reached approximately $4.78 billion for the quarter ending
In recent discussions surrounding the state of the U.S. economy, one voice has emerged with distinct clarity: Marc Rowan, the CEO of Apollo Global Management. Speaking at the Global Financial Leaders’ Investment Summit in Hong Kong, Rowan highlighted a burgeoning “industrial renaissance” that is reigniting demand for capital across various sectors. This burgeoning need is
In a landscape increasingly dominated by digital payments, the recent Senate Judiciary Committee hearing on the Visa-Mastercard duopoly sheds light on the challenges faced by small businesses amid soaring interchange fees. The bipartisan concern among committee members underscores the growing frustration toward these industry titans, which collectively control a staggering 80% of the market and
As financial technology firms navigate a complicated economic landscape, a noticeable reluctance is emerging among fintech unicorns regarding initial public offerings (IPOs). The recent confidential filing by Klarna, a Swedish buy now, pay later payment processor, has sparked new conversations about the state of the IPO market for fintech companies. Although Klarna’s move has garnered
In a keenly watched political commentary on social media platform X, entrepreneur and tech magnate Elon Musk announced his endorsement for the role of Treasury Secretary. He singled out Howard Lutnick, a figure steeped in financial leadership as the CEO and chairman of Cantor Fitzgerald, as someone who has the potential to “actually enact change.”