Blockchain-enabled Web3 fashion startup mmERCH announced its $6.4 million seed funding round at a $25.7 million post-money valuation led by Liberty City Ventures Thursday, a major step forward for the Colby Mugrabi-led fashion house. mmERCH Attracts an Assortment of High-Profile Investors According to a Thursday press release from mmERCH, funding from the round “will be...
SYDNEY (Reuters) - Uber (NYSE:UBER) has agreed to pay A$271.8 million ($178.3 million) to settle a lawsuit in Australia brought by taxi operators and drivers, who alleged they lost income when the ride-hailing company moved into the country, a law firm said on Monday. Maurice Blackburn Lawyers filed the class action in 2019 in the...
European stocks were little changed on Friday as traders pared their expectations for a U.S. rate cut in June and braced for more hawkish signals from a Federal Reserve meeting next week. According to the CME FedWatch Tool, the probability of the Fed leaving the policy rate unchanged at June meeting climbed from 25 percent...
Indian shares fell notably on Friday as signs of sticky inflation in the U.S. raised doubts on early Fed rate cuts. Hotter-than-expected U.S. producer price inflation print sent the dollar and bond yields higher, denting investors\' appetite for riskier assets. According to the CME FedWatch Tool, the probability of the Fed leaving the policy rate...
Hong Kong’s Securities and Futures Commission (SFC) cautioned crypto traders about using cryptocurrency exchange Bybit on March 14, defining 11 Bybit products as suspicious investments while listing the exchange among unlicensed operators. Hong Kong SFC’s Warning on Bybit Bybit has come under the scrutiny of Hong Kong’s SFC in what seems to be the latest...
Denim retailer Buckle, Inc. (BKE) reported Friday fourth-quarter net income of $79.58 million or $1.59 per share, down from $87.84 million or $1.76 per share in the prior-year quarter. On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.44 per share for the quarter. Analysts\' estimates typically exclude special items....
Russian lawmakers have criticized Moscow over its “failure” to regulate the crypto sector, claiming that inaction harms the nation’s economy. Per the media outlets Finam and Pravda, lawmakers spoke about the matter on March 13. One MP blasted Moscow for failing to recognize tokens as a valid payment tool. And another called for a system...
Brady Corp. (BRC) announced Friday that it has entered into exclusive negotiations to acquire Gravotech Holding for approximately 123 million euros or $133 million. Brady expects to fund the transaction with cash on hand as well as with borrowings on its existing credit agreement. The acquisition of Gravotech will add specialized direct part marking and...
Hong Kong’s central bank, the Hong Kong Monetary Authority (HKMA), announced today the launch of the second phase of its e-HKD pilot program. They also invite industry participants to propose potential use cases for the central bank digital currency (CBDC). This initiative aims to delve deeper into the potential of a central bank digital currency...
Steel Connect, Inc. (STCN) reported Friday net income available to common stockholders for the second quarter of $4.81 million or $0.18 per share, compared to a net loss of $1.06 million or $0.16 per share in the prior-year quarter. Net revenue for the quarter declined 15.2 percent to $43.05 million from $50.78 million in the...