August 6, 2024
Yen surges to a seven-month high
A surge in the yen to a seven-month high led a broad dollar fall, as a slew of economic data last week raised the prospect of a U.S. economic downturn and bigger interest rate cuts from the Federal Reserve. The dollar index was down to its weakest since January 12. The last session saw the […]
Read More
August 5, 2024
Intel shares slump 26% as turnaround struggle deepens
Intel shares sank 26% on Friday in their worst day since 1974 after the chip manufacturer suspended its dividend and slashed its workforce to fund a costly turnaround after losing its once-dominant global position. The company lost more than $30 billion in market value
Read More
August 5, 2024
XRP Ledger onchain transactions drop 65.6% in Q2 2024
The volume of transactions on the XRP Ledger fell significantly from the first quarter to the second quarter of 2024, with the average transaction cost surging, according to Ripple’s Q2 Markets Report. XRPL onchain transaction activity declined by 65.6% .
Read More
August 5, 2024
Dollar hits four-month low as weak US jobs data boosts rate cut bets
The U.S. dollar dropped to a four-month low on Friday after a weaker-than-expected employment report for July raised expectations that the Federal Reserve will cut interest rates by 50 basis points in September as the economy sours.
Read More
August 1, 2024
Boeing names aerospace veteran Kelly Ortberg CEO to steer turnaround
Boeing named aerospace industry veteran Kelly Ortberg as its CEO to turn around the struggling planemaker after a quarter where it lost more than $1 billion. Ortberg will start on Aug. 8 with the monumental task of rebuilding trust with regulators, the industry and the public during a quality crisis
Read More
August 1, 2024
Nasdaq, S&P 500 ride chip-stock wave before Fed decision
The Nasdaq and the S&P 500 jumped around 2%, as investors hoped for hints from the Federal Reserve on the timing of rate cuts, a bullish forecast from AMD boosted chip stocks and Microsoft slipped after a higher spending forecast.
Read More
