Ryan Cohen’s $60 Million Bed Bath U-Turn Triggers Meme Stock Investor Ire

Ryan Cohen’s  Million Bed Bath U-Turn Triggers Meme Stock Investor Ire

An exterior view shows a Bed Bath & Beyond store in Novi, Michigan, US, Jan. 29, 2021. REUTERS/Emily Elconin Register now for FREE unlimited access to Reuters.com Register Aug 19 (Reuters) – Investors flooded social media platforms like Reddit on Friday criticizing Ryan Cohen’s sale of his stake in Bed Bath & Beyond Inc (BBBY.O), … Read more

Sudden crypto drop sends bitcoin to three-week low

Sudden crypto drop sends bitcoin to three-week low

Representations of cryptocurrencies can be seen in this illustration, Aug 10, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register SINGAPORE, Aug. 19 (Reuters) – Cryptocurrencies fell sharply on Friday, with sudden sales dragging bitcoin to a three-week low. Bitcoin dropped a whopping 7.7% to $21,404, around 0640 GMT, in a matter … Read more

Government bond yields rise after unemployment claims report

Government bond yields rise after unemployment claims report

US Treasury yields rose Friday as investors digested the previous day’s data, which showed unemployment claims came in lower, below expectations. The yield on the 10-year Treasury bond was up 4 basis points at 8:30 a.m. ET to 2.926%, while the yield on the 30-year Treasury bond rose about 3 basis points to 3,1728%. Yields … Read more

Mortgage rates fall amid signs inflation has finally peaked

Mortgage rates fall amid signs inflation has finally peaked

The 30-year fixed-rate mortgage averaged 5.13% in the week ending Aug. 18, down from 5.22% the week before, according to Freddie Mac. Despite the latest drop, rates are still significantly higher than at this time last year, when the 30-year-old was 2.86%. “Inflation appears to have peaked, halting the rapid rise in mortgage rates that … Read more

Mercado Libre Launches Its Own Ethereum Cashback Token

Mercado Libre Launches Its Own Ethereum Cashback Token

Online marketplace Mercado Libre, Latin America’s answer to Amazon, today announced the launch of its own cryptocurrency. The company has launched Mercado Coin for customers in Brazil as an ECR20 token – the implemented standard for tokens created using the Ethereum blockchain. Marketplace users can use it to earn cashback rewards. Mercado Coin will initially … Read more

US home sales fell in July; some buyers see silver lining

US home sales fell in July;  some buyers see silver lining

THE ANGELS — The housing market’s comedown from the high-flying days early this year is deepening, with July home sales falling for the sixth straight month. Sharply higher mortgage rates, rising inflation and prices that remain close to record highs are making houses less affordable. Sales fell 20.2% from July last year, reaching their lowest … Read more

Starbucks chief of operations leaves as coffee chain eliminates ‘reinvention’ role

Starbucks chief of operations leaves as coffee chain eliminates ‘reinvention’ role

Starbucks Chief Operating Officer John Culver is leaving the company after two decades from the coffee chain, as part of a restructuring that will eliminate his role. His departure comes in the midst of a wider reshuffle of executives at Starbucks. Former CEO Kevin Johnson retired earlier this year, returning Howard Schultz to the helm … Read more