Usa Financial News

London | Australian Financial Review Rich Lister Michael Hintze has sold most of his $20 billion managed funds company CQS to the Canadian giant Manulife Investment Management, and will strike out on his own.

Bloomberg reported. Di Sibio took over as global chair and chief executive in 2019, having risen through the ranks of EY’s US business serving financial services clients, including Goldman Sachs. Truncale most recently was the regional managing partner for EY's financial services organization, which includes 14,000 professionals, the statement read.

Elon Musk has denied a report that his rocket company was discussing an initial public offering (IPO) for its satellite internet business, Starlink, as soon as 2024. Musk called the report 'false' on the social media platform X, saying SpaceX had been moving the unit's assets to a wholly owned unit that would ultimately be spun off. Elon Musk's SpaceX will be worth half-a-trillion dollars by 2030: Billionaire investor explains why SpaceX has an estimated value of $150 billion and was the first private company to send humans into orbit.

Joe Biden and Xi Jinping held a US-China Summit on November 15. The US President and his Chinese counterpart discussed various global and bilateral issues. Here are 7 key takeaways.

Elon Musk are some of the high-profile names who are expected join the dinner hosted for US President Joe Biden and Chinese President Xi Jinping in San Francisco. The dinner which is being hosted by National Committee on US China relations and US-China Business Council will take place during the 30th Asia Pacific Economic Cooperation (APEC) summit on Wednesday. The forum is expected to witness hundreds of business leadeers from various fields like banking and technology attending while President Xi could also make a speech, reported CBS News.

The Federal Trade Commission says it issued warnings to two food and beverage industry groups, as well as to a dozen online influencers and dieticians for failing to adequately disclose paid social media posts that promoted a sweetener and sugary products

Sensex jumped 742.06 points, or 1.14%, to end at 65,675.93, while the Nifty 50 settled 231.90 points, or 1.19%, higher at 19,675.45. “Rally was seen in global markets after weak US inflation data raised hopes that the interest rate-hiking cycle has reached its peak. Additionally, news of fresh stimulus in China and sharp fall in UK’s inflation boosted the sentiments.

TCS: Tata Consultancy Services (TCS) fixed the record date for its ₹17,000 crore share buyback plan on 25 November, the company said in its stock exchange filing on Wednesday. The IT major, on October 11, had announced to buyback up to 4,09,63,855 fully paid-up equity shares of face value of ₹1 each at ₹4,150 per equity share for an amount equivalent to ₹17,000 crore.

A proposed ban on noncompete agreements has come under a fierce attack by business groups in New York

Grayscale Investments is using its Ether (ETH) futures exchange-traded fund (ETF) application as a “trojan horse” to corner the United States Securities and Exchange Commission into approving its spot Ether ETF, says Bloomberg ETF analyst James Seyffart.

gains for the S&P 500 Index in 2024, say strategists at Goldman Sachs Group Inc., becoming the latest Wall Street bank to come out with a bullish call. The team, led by David Kostin, joins others who have turned more positive about the outlook for equities, like Morgan Stanley's Michael Wilson. Meanwhile, Bank of America Corp.'s Michael Hartnett has said investors have moved to overweight positions in stocks and bonds. Kostin's expectations are still moderate: he sees the US benchmark ending next year at 4,700 points, nearly 5% above its current level, but a slower advance than this year's 17% rally so far. A supportive mix of factors awaits US stocks, with the economy set to avoid a recession, earnings rising and valuations remaining steady, the Goldman team wrote in a note Wednesday.

Russian crypto holders have reportedly used simple workarounds to evade sanctions – and trade on overseas crypto exchanges.

London | Macquarie has made its first foray into the green aviation fuel sector, tipping €175 million ($290 million) into Netherlands-based SkyNRG to help it build production facilities in Europe and the US.

A2 Milk Co boss David Bortolussi has warned that China’s infant formula market is in a steep decline and will be a more challenging place to do business this year.

By Max A. Cherney and Loren Elliot

The Financial Industry Regulatory Authority Inc. has fined Haywood Securities USA as part of a settlement agreement.

The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion received an education in the uses of blockchain technology in a hearing entitled “Crypto Crime in Context: Breaking Down the Illicit Activity in Digital Assets” on Nov. 15. The hearing was bipartisan in nature, chair French Hill stated at the outset. 

CFX Labs has raised $9.5 million in seed investments to expand its Solana-based stablecoin payment and remittances network.

Shark Tank star Kevin O’Leary has predicted that Abu Dhabi’s M2 exchange could pose a significant threat to industry giants. 

“We are excited to welcome Bitvo’s clients to the WonderFi ecosystem,” said WonderFi President and Chief Executive Officer, Dean Skurka. “The acquisition of Bitvo’s clients represents a non-dilutive acquisition for WonderFi, with immediate cash flow, increased scale, and an expected payback period of less than six months.”

Leading German bank Commerzbank has received a crypto custody license from government regulators.