The Bitcoin price surged to a new two-week high on Friday exceeding $62,000 following Fed Chair Jerome Powell’s Jackson Hole speech. During his address, Powell hinted at a potential series of rate cuts by the world’s largest central bank. SUMMARY OF FED CHAIR POWELL'S REMARKS (8/23/24): 1. "The time has come for Fed policy to...
By Siddharth Cavale and Jessica DiNapoli NEW YORK (Reuters) -The U.S. Federal Trade Commission recommended Thursday that policymakers look further into profits at grocery store operators that remain elevated since the pandemic and promotions that consumer products makers offer retailers. The FTC also is suing to block Kroger (NYSE:KR)\'s acquisition of smaller grocery store rival...
Institutional investors are steadily increasing their Bitcoin holdings as retail investors sell off prematurely, driven by impatience and financial pressure.Bitcoin’s appeal grows amid global economic uncertainty, with institutions adopting it as a hedge against inflation and financial instability. The Modern Investor has discussed a significant issue in the crypto market: institutional players are silently accumulating...
JAKARTA – The stock performance of two companies, PT Multitrend Indo Tbk (BABY)andPT Anugerah Spareparts Sejahtera Tbk (AEGS), plummeted after a year debuting in the stock exchange since September 2023. Based on the data compiled by IDNFinancials today (25/9), BABY debuted through initial public offering (IPO) on September 7, 2023, issuing 534 million shares for...
The Indonesia stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day winning streak in which it had jumped almost 130 points or 1.9 percent. The Jakarta Composite Index now sits just above the 6,900-point plateau and it may tick higher again on Tuesday....
Unabomber prosecutor Robert J. Cleary has been given the green light by a U.S. bankruptcy judge to probe law firm Sullivan and Cromwell’s potential conflicts of interests in relation to FTX, according to a Wednesday court filing. What Will Cleary Find in FTX Probe? Cleary’s appointment by Judge John Dorsey marks a key shift in...
Asian stocks fell broadly on Monday as Joe Biden announced his withdrawal from the 2024 presidential race against Donald Trump and China\'s central bank unexpectedly lowered its one-year benchmark loan prime rate to bolster a slowing economy. The dollar eased slightly as Biden endorsed Vice President Kamala Harris as the new Democratic nominee. Gold held...
The Japanese stock market has tracked higher in three straight sessions, advancing more than 275 points or 0.7 percent along the way. The Nikkei 225 now sits just above the 39,370-point plateau and it may extend its gains again on Thursday. The global forecast for the Asian markets is upbeat on improved optimism about the...
The U.S. House Financial Services Committee Chair Rep. Patrick McHenry (R-NC) has suggested upcoming advancements in stablecoin legislation before the election. Speaking at a Coinbase event in Washington on March 20, McHenry noted that despite recent Congressional disruptions, a stablecoin bill is nearing readiness for a House vote, reflecting a bipartisan effort and significant groundwork...
JAKARTA. The Composite Stock Price Index (JCI) fell 0.86% or 60.21 points to 6,956.67 on Wednesday (14/1). This is the lowest position of the JCI in the last 7 months of trading. Previously, the JCI had touched its lowest level on June 26, 2024, at 6,905.64. PT Barito Renewables Energy Tbk (BREN) shares were ranked...