WSJ Financial News

climate change will make extreme weather events occur more often. When they do, power and cellphone service often fail. But that doesn’t mean your tech won’t be important or useful.

Elon Musk’s SpaceX is among many alleged culprits behind a seismic crypto market crash on Thursday, which has triggered over $1 billion in liquidations over the past 24 hours. Here's the latest.

Wells Fargo upgraded Hawaiian Electric Industries (NYSE:HE) to Equal Weight from Underweight on Friday, lowering the stock price target to $8 from $25 per share.

Cryptocurrencies extended declines, sliding with global risk assets as investors price in higher interest rates for longer. A report of Elon Musk’s SpaceX selling Bitcoin holdings added to the concerns. 

SpaceX's surging revenue helped it turn a small profit in the first quarter of 2023 after two annual losses, the Wall Street Journal reported on Thursday, citing documents. The company generated $55 million in profit on $1.5 billion in revenue during the January-to-March period, according to the report.

Walmart has paid $1.4 billion to buy out hedge fund Tiger Global's investment in its Indian e-commerce firm Flipkart and acquired private equity firm Accel's remaining 1% stake in the company as well, media reports said on Monday. The Wall Street Journal said Walmart bought the shares from Tiger Global recently, valuing the Indian company at about $35 billion.

China has emerged as the biggest market for major crypto exchange Binance, despite a ban on crypto trading in the country.

Binance users traded $90 billion of cryptocurrency related assets in a single month in China, where cryptocurrency trading has been illegal since 2021, the Wall Street Journal reported on Tuesday citing internal figures and current and former employees of the exchange. The transactions made China Binance's biggest market by far, accounting for 20% of volume worldwide, excluding trades made by a subset of very large traders, the WSJ said. The newspaper did not specify the month during which the transactions were made. Binance's origins lie in China, though the world's largest crypto exchange withdrew from mainland China in 2017 during a regulatory crackdown. It did not immediately respond to a Reuters request for a comment on the Journal report. «The Binance.com website is blocked in China and is not accessible to China-based users,» a company spokesman told the WSJ.

(Reuters) — Asset manager BlackRock (NYSE:BLK) and index provider MSCI are being investigated by a congressional committee for allegedly facilitating China investments, Wall Street Journal reported on Tuesday, citing letters to the companies from the panel.

(Reuters) -Walmart has paid $1.4 billion to buy out hedge fund Tiger Global's investment in e-commerce firm Flipkart, the Wall Street Journal reported on Sunday, citing a letter by the hedge-fund to its investors.

Russia-Ukraine war: Saudi Arabia is set to host Ukrainian-organized peace summit on 5 and 6 August, according to several reports. Saudi Arabia has invited several major countries including India, Britain, United States among others. A report by Wall Street Journal, confirms that Saudi Arabia is set to host talks in August about Ukraine.

Netflix is restructuring its advertising partnership with Microsoft and lowering ad prices, the Wall Street Journal reported on Thursday. Netflix has had early discussions to sell ads through other partners in addition to Microsoft, WSJ said, citing people familiar with the matter.

Spotify competes with mainly the likes of Apple Music and the rival also hiked its prices by $1 which now brings the subscription of both leading music streaming service apps to an equal. Not very surprising but Amazon, Tidal and YouTube also announced a price week recently.

China Nicholas Burns' email account in an espionage operation thought to have compromised at least hundreds of thousands of individual U.S. government emails, the Wall Street Journal (WSJ) reported on Thursday. Daniel Kritenbrink, the assistant secretary of state for East Asia, was also hacked in the wider spying operation disclosed earlier this month by Microsoft, the report said, citing people familiar with the matter.

Binance, the world’s largest cryptocurrency exchange, has grown increasingly frugal amid declining profits after boasting that it had prepared a “war chest” last year.

Binance CEO Changpeng Zhao (CZ) has confirmed that his exchange is laying off people, but said numbers reported in the media are “way off.”

The Wall Street Journal has unearthed the identity of the man Lazard let go after some unspecified inappropriate behavior at a party last weekend. The alleged miscreant was reportedly Reid Snellenbarger, Lazard's Chicago-based co-head of restructuring and capital solutions. 

Investing.com — U.S. futures traded largely flat Monday, at the start of a week that includes the release of key inflation data. which could guide the Federal Reserve with its monetary policy, as well as the start of the new quarterly earnings season.

Though the Securities and Exchange Commission has reportedly rejected filings for a spot bitcoin exchange-traded fund from BlackRock, Fidelity and a handful of other asset managers, crypto-enthusiasts are optimistic that the product will soon achieve approval.

The failed crypto company FTX is apparently having initial talks with investors on bringing back the FTX.com exchange through structures such as a joint venture, a WSJ report said.

A Victorian brownstone in Washington DC linked to former FTX CEO Sam Bankman-Fried may have been sold.