DETROIT – Ford’s latest project out of the Motor City is the restoration and reopening of an abandoned train station, for decades a symbol of Detroit’s downfall and now the automaker’s new technology campus. The $950 million project encompasses the 18-story former train station called Michigan Central Station – once the state’s marquee transit building – an adjacent 270,000-square-foot […]
A technical issue on Monday caused the A-class shares of Warren Buffett’s Berkshire Hathaway to appear to be down nearly 100% on the New York Stock Exchange for most of the morning trading period. Trading was halted in those shares, as well as in Barrick Gold and Nuscale Power, which had also seen dramatic falls. All three stocks have since […]
In just the past year, AI chip leader Nvidia has soared more than 200% into the upper echelon of the world’s most valuable companies and is already closing in on Microsoft and Apple. But Beth Kindig, lead tech analyst at the I/O Fund, sees more astronomical gains in the coming years, predicting Nvidia’s market cap […]
Tesla CEO Elon Musk was accused of insider trading in a lawsuit filed Thursday by a Tesla shareholder in Delaware Chancery Court. Shareholder Michael Perry claims in the filing that Musk sold over $7.5 billion of shares of his electric car company in late 2022 before potentially disappointing production and delivery numbers were made public. […]
The British government has sold £1.24 billion of its shares in NatWest Group, cutting its stake from 26% down to 22.5% in share sale. NatWest bought back 392.4 million shares from the government at 316.2p per share. Since March 2024, the Government has not been a shareholder in NatWest stock. The government aims to continue […]
Mastercard has begun piloting its Crypto Credential network, enabling cross-border peer-to-peer digital asset transactions between Latin America and Europe. Unveiled last year, MasterCard Crypto Credential helps verify interactions among consumers and businesses using blockchain networks. The pilots will see users from a host of countries on the Bit2Me, Lirium and Mercado Bitcoin exchanges send cross-border […]
As part of the Biden administration’s efforts to improve relations with Cuba, businesses from Cuba will now be able to use U.S. online payment systems to facilitate money transfers between the two nations. The new rules also allow Cuban nationals to open U.S. bank accounts and reauthorize so-called “U-turn” transactions. The policy change is intended […]
In an era where digital privacy concerns are at the forefront, traditional marketing strategies reliant only on third-party cookies are falling behind. This shift has massive implications for companies long accustomed to running their business on data acquired through partner channels. Even though Google recently pushed back its plan to sunset third-party cookies—again—the latest delay […]
Abercrombie & Fitch reported its strongest first quarter in its history on Wednesday, continuing a winning streak that again exceeded expectations. The retailer’s sales jumped 22% compared with last year, while profits were nearly seven times higher and came in well ahead of Wall Street’s estimates. Abercrombie’s shares closed more than 24% higher Wednesday. Here’s how […]
Salesforce shares plummeted as much as 17% in extended trading on Wednesday after the cloud software vendor reported weaker-than-expected revenue and issued guidance that trailed Wall Street’s expectations. Here’s how the company did, compared to the LSEG consensus: Salesforce called for adjusted earnings per share in the current quarter of $2.34 to $2.36 on $9.2 billion […]
After starting the year at a five-year low, France may be in a position to lead venture investment in the EU out of the dark ages. The country has emerged as a rising star in Europe’s active financial technology (FinTech) sector, attracting a surge of venture capital investment that is fueling the growth of startups […]
Spanish global payment processor PayRetailers announced its acquisition of Transfeera for an undisclosed amount, pending approval from Brazil’s Central Bank and Administrative Council for Economic Defense. PayRetailers will absorb Transfeera’s 450 clients and 62 employees, bringing its headcount to 550 employees worldwide across 10 different offices. Transfeera offers a payment API for businesses, helping companies validate bank account details, […]
