Author: IA PressRoom

Source: Securities and Exchange Commission websiteConversations with crypto firms have been constructive, but they also need to be compliant with securities laws, said US Securities and Exchange Commission Chair Gary Gensler.Gensler spoke to CNBC Squawk Box on Tuesday morning, a mere hour or so after the agency announced charges against the largest US based crypto exchange Coinbase. Gensler was asked about conversations the agency had with Coinbase before the complaint was filed. “We’ve had discussions with literally dozens of crypto incumbents, including the ones that you just mentioned,” Gensler said.The industry has a business model built on noncompliance, Gensler added, comparing it…

CNN  —  New Hampshire Gov. Chris Sununu, a frequent Republican critic of former President Donald Trump, said Monday in an exclusive interview with CNN’s Dana Bash that he will not seek the party’s 2024 presidential nomination. “We’ve taken the last six months to really kind of look at things, where everything is. And I’ve made the decision not to run for president on the Republican ticket in 2024,” Sununu told Bash. Sununu’s decision further defines the GOP’s 2024 field and means there won’t be a home-state contender in New Hampshire, leaving the Republican contest in the first-in-the-nation primary state wide…

jittawit.21 Antibiotic developer Paratek Pharmaceuticals (NASDAQ:PRTK) has agreed to be taken private by Gurnet Point Capital and Novo Holdings, the investment arm of the Novo Nordisk Foundation, for up to approximately $462M. Under the deal, the investment firms will pay $2.15 per share in cash upfront. Shareholders will also receive contingent value rights worth $0.85 per share payable if Paratek’s lead drug, an antibiotic called Nuzyra, achieves US net sales of $320M in any calendar year before 2027, according to a statement. The companies said the upfront cash payment represents a 41% premium over Paratek’s closing price on May 31,…

China Last NightKraneShares Key News Asian equities were broadly higher overnight, though South Korea was closed for the Memorial Day holiday. Hong Kong and Mainland China gave back mid-morning gains to close lower, as the Hang Seng Index opened higher by +1.41%, but closed lower by -0.05%. The most important news overnight came at 3:30 pm, after the Mainland’s close, when Bloomberg News reported that the PBOC would cut banks’ deposit rates, which led to a small rally into Hong Kong’s close. Mainland media also reported that the 2nd half of 2023 may see interest rate and bank reserve requirement…

WASHINGTON, DC – JUNE 02: President Joe Biden addresses the nation in the Oval Office of the White … [+] House on June 2, 2023 in Washington, DC. (Photo by Jim Watson-Pool/Getty Images)Getty Images The Supreme Court is poised to rule on President Joe Biden’s student loan forgiveness plan in the next few weeks. Based on how oral arguments went in February, a majority of the court could be looking to strike down the program. But if that happens, borrowers will still have other potential paths to loan forgiveness. Here’s what you need to know. Supreme Court Decision On Biden’s…

© Reuters. Tesla Model 3 vehicles are shown for sale at a Tesla facility in Long Beach, California, U.S., May 22, 2023. REUTERS/Mike Blake WASHINGTON (Reuters) – The Biden administration confirmed Tuesday that all Tesla (NASDAQ:) Model 3 vehicles now qualify for $7,500 electric vehicle consumer tax credits after two versions saw credits fall in half. In April, new battery sourcing rules went into effect that lowered the credit of the Model 3 Standard Range Rear Wheel Drive and Long Range All-Wheel Drive to $3,750. Tesla said last week on its website that all versions of the Model 3 again…

Source: iStock/GCShutterWith cryptocurrencies increasingly gaining a foothold across the Arab world, some industry analysts are examining how Saudi Arabia’s plan to join China’s New Development Bank, also known as the BRICS bank, could impact on diversifying the kingdom’s financial environment. Saudi Arabia is in talks to secure a membership in the Shanghai-based lender which was set up by the world’s largest developing economies, the so-called BRICS countries which include Brazil, Russia, India, China, and South Africa, The Financial Times reported. Should Riyadh gain access to the New Development Bank, the move would open up new funding options to the kingdom as an…

The World Bank said on Tuesday that the global economy remained in a “precarious state” and warned of sluggish growth this year and next as rising interest rates slow consumer spending and business investment, and threaten the stability of the financial system.The bank’s tepid forecasts in its latest Global Economic Prospects report highlight the predicament that global policymakers face as they try to corral stubborn inflation by raising interest rates while grappling with the aftermath of the pandemic and continuing supply chain disruptions stemming from the war in Ukraine.The World Bank projected that global growth would slow to 2.1 percent…

The contest to become the Republican Party’s 2024 presidential nominee is heating up further, with former Vice President Mike Pence, former New Jersey Gov. Chris Christie and North Dakota Gov. Doug Burgum making moves this week. Pence filed paperwork for his White House bid on Monday, ahead of a launch event in Iowa on Wednesday. Christie, who ran for president unsuccessfully in 2016, plans to announce his candidacy in New Hampshire today. Burgum released a campaign video on Monday in advance of a kickoff event on Wednesday in Fargo. He’s known in part for selling a software company to Microsoft…

You may think Apple’s new headset is ridiculous, but you should cheer the company anyway.Innovation is expensive, difficult, and risky — and the only way to create a better future.So, well done, Apple! Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Well, the catcalls are coming fast and furious now.Apple’s new augmented-reality goggles have the haters in a tizzy. They look ridiculous! They cost a fortune! Steve Jobs must be rolling over in his grave!Whatever.You literally cannot make, do, or say anything these days…