Finance News - LeadStory

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Beijing may buy unsold homes to help market

China is considering a plan for local governments nationwide to buy millions of unsold homes, Bloomberg News said, after a meeting of leaders of the ruling Communist Party called for efforts to clear mounting housing inventory.

Reuters

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Reviving iconic architecture: Iwan Sunito's mission

Renowned developer Iwan Sunito is calling on his peers to reimagine the way they design buildings in Australia and around the world, by shifting their focus to create modern-day masterpieces like the award-winning Infinity in Sydney's Gr...

LeadStory Spotlight

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Binance founder gets four months in prison

Changpeng "CZ" Zhao, founder of crypto exchange Binance, has been sentenced to four months in prison following his guilty plea to violating anti-money laundering laws in November.

Bloomberg

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Brazil's Indigenous people rally for land protection

Thousands of Indigenous protesters marched in Brazil's capital against the government's failure to protect their ancestral lands. The annual event this year focused Indigenous anger over the government's plans for a railway they say will...

Reuters

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What is Bitcoin halving?

Bitcoins are created as a reward when someone with lots of computing power produces a new block of transaction data. This reward is “halved” every few years, making Bitcoins more expensive and mining only worthwhile with energy-efficient...

DW News

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Sam Bankman-Fried appeals FTX fraud conviction

Sam Bankman-Fried, facing the prospect of spending much of his adult life behind bars, appealed his conviction and 25-year prison sentence for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded.

Reuters

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New gold backed currency replaces Zimbabwe dollar

Zimbabwe is replacing its collapsing local currency with a new one backed by gold and foreign currencies that it hopes will be more stable and help bring down inflation, the central bank has announced.

Al Jazeera

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Behind Hertz's doomed bet to electrify its fleet

Two finance veterans who bought the bankrupt car rental company Hertz went all-in on providing a fleet of electric vehicles. They had a plan to swap Hertz's gas-powered rental-cars for electric vehicles, which included an unprecedented o...

Bloomberg

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A look at Gaza's destruction six months into the war

Six months after the conflict in Gaza began, Reuters cameramen ride bicycles along its ruined streets to gauge the destruction left by Israeli air strikes that have killed more than 33,000 people in retaliation for Hamas's Oct. 7 attack ...

Reuters

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Iconic Notre-Dame Cathedral in Paris nearly restored

Paris's Notre-Dame Cathedral, ravaged by fire in 2019, is on track to reopen on time on December 8, the head of the reconstruction said. The fire at the UNESCO-listed cathedral, which welcomed 12 million visitors a year, shocked the worl...

France 24

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What message does SBF sentencing send to others?

FTX co-founder Sam Bankman-Fried was sentenced to 25 years in prison for stealing billions of dollars from customers. A federal judge also ordered him to forfeit more than $11 billion. So, what kind of message does this send to others ac...

Bloomberg

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Palestinians concerned by Israel's 800 hectares settlement plan

In the face of international criticism, Israel’s far right finance minister recently announced plans to make 800 hectares of land in the West Bank “Israeli state land” – the biggest land confiscation since the Oslo accords of 1993, accor...

France 24

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Sam Bankman-Fried sentenced to 25 years in prison

The former crypto-currency tycoon Sam Bankman-Fried has been sentenced to 25 years in prison for his role in what's been described as one of the largest financial frauds in history. The 32-year-old was found guilty of defrauding customer...

Al Jazeera

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How cryptocurrencies enable crime, terror funding

The case of Sam Bankman-Fried highlights how crypto-currency is being used more and more to commit crimes. The untraceable currency can be used for money laundering and even for financing terrorism.

France 24

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Sam Bankman-Fried sentenced to 25 years in prison

FTX co-founder Sam Bankman-Fried has sentenced to 25 years in prison for stealing billions of dollars from customers. U.S. District Judge Lewis A. Kaplan delivered the sentence in federal court in Manhattan moments after Bankman-Fried sa...

Bloomberg

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Trump's media company valued at $8 bn on debut

Trump Media & Technology Group shares surged more than 36% in their debut on the Nasdaq that comes more than two years since its merger with a blank-check firm was announced.

Reuters

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McDonald's to start selling Krispy Kreme doughnuts

Krispy Kreme shares soared the most since July 2021 after McDonald's agreed to bring the chain's doughnuts to restaurants across the U.S. Krispy Kreme's doughnuts will first become available at some McDonald's later this year and a natio...

Bloomberg

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Trump's Truth Social stock surges on first day of trading

Former President Donald Trump's social media startup went public and is trading under the ticker DJT. Shares of Trump Media & Technology Group Corporation jumped as much as 58% before paring gains and triggering a brief volatility-relate...

Bloomberg

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FedEx stock surges after company announces $5 billion buyback

FedEx Corp. plans to buy back $5 billion of its shares as cost-cutting efforts help boost profits, a move that has sent the courier's stock soaring.

Bloomberg

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Trump's properties may be seized to pay $454 million bond

Donald Trump must pay $454 million to appeal a court case in New York that found he and his company fraudulently increased and decreased the value of their properties to evade taxes and secure favorable loans. The District Attorney, Fani...

Fox News

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Biden Administration cancels $6 billion in student debt

The Biden administration announced that it is canceling student loans for nearly 80,000 Americans. The move comes as the president tries to gain momentum while campaigning for a second term.

Fox News

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E.U. eyes frozen Russian assets to fund Ukraine war

European Union leaders arrived at a summit to discuss whether to use billions of euros in profits from frozen Russian financial assets to buy arms for Ukraine as they try to bolster Kyiv in its fight against Moscow's invasion.

France 24

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Banks watch Reddit IPO with eye on underwriting rebound

Reddit Inc. is only the fourth-largest U.S. initial public offering this year, but it's in focus for Wall Street banks hoping that the doldrums are over for the IPO market -- and their underwriting fees.

Bloomberg

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Federal Reserve leaves interest rates unchanged

Federal Reserve officials maintained their outlook for three quarter-point rate cuts this year but forecast fewer cuts than before in 2025 following a recent uptick in inflation. The FOMC left the benchmark rate in a range of 5.25% to 5.5%.

Bloomberg

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Nvidia announces next generation of A.I. chips

Nvidia announced its next generation of AI chips at the company's annual GTC conference. In his keynote address, Nvidia CEO Jensen Huang called the newly launched Blackwell line "more of a platform." The new line provides a significant u...

Cheddar News

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U.S. housing starts rebounds in February

Residential starts increased 10.7% in February, the largest since May, to a 1.52 million annualized rate, government data showed. The median estimate of economists surveyed by Bloomberg called for a 1.44 million pace. Building permits ro...

Bloomberg

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UBS valuation surges past $100 billion

A year since UBS Group AG's takeover of former rival Credit Suisse, it's becoming clear just how advantageous the deal has been for the bank. It has pushed its market capitalization past $100 billion to the highest level in almost 16 yea...

Bloomberg

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Apple in talks to license Google's Gemini A.I. tool

Apple is in talks to potentially license Alphabet's AI Tool Google Gemini. That's according to Bloomberg. The companies are reportedly in 'active negotiations' about Apple licensing Gemini to power AI features in the upcoming IOS 18 late...

Cheddar News