Author: IA PressRoom

© Reuters. FILE PHOTO: Customers wait outside as an employee enters the Silicon Valley Bank branch office in downtown San Francisco, California, U.S., March 13, 2023. REUTERS/Kori Suzuki/File Photo (Reuters) – SVB Financial Group said on Sunday it has entered into an agreement to sell its investment banking division, SVB Securities, to a group led by Jeff Leerink and backed by funds managed by The Baupost Group. The bidder group led by Leerink, who is chief executive of SVB Securities, will acquire the investment banking business for a combination of cash, repayment of an intercompany note, and a 5% equity…

Source: AdobeStock / Iryna BudanovaBinance-branded BUSD stablecoin has lost another $1 billion in market cap, descending to the fourth position among stablecoins.The Binance USD (BUSD) stablecoin currently has a market cap of around $4.3 billion, down from $5.5 billion a month ago, data by CoinMarketCap shows.This places BUSD in fourth position among stablecoins and right behind decentralized stablecoin DAI, which has seen its market cap rise to more than $4.6 billion over the past couple of days. Tether’s USDT and USDC Coin (USDC) are the two largest stablecoins in the market, each with a market cap of around $83 billion and $28 billion, respectively. BUSD’s continued decline in…

Financial markets in the U.S. will be closed Monday in observance of Juneteenth National Independence Day, or Juneteenth, a federal holiday honoring the 158th anniversary of the last enslaved Black Americans learning that they were free.  Juneteenth has been around since the end of the civil war but is a relatively new federal holiday, signed into law by President Joe Biden in 2021. It was first observed by U.S. exchanges and financial markets last year. That means no trading on the New York Stock Exchange or Nasdaq, while CME Group and Cboe will also observe a holiday schedule. Sifma, the securities…

Sen. Tim Scott, R-S.C., had scathing words for President Barack Obama on “Fox News Sunday,” blasting the former commander in chief for his handling of race and education.The 2024 presidential hopeful spoke with host Shannon Bream and homed in on the poor state of public education systems across the country, and addressed some criticism leveled at him by Obama last week.”There’s no higher compliment than to be attacked by President Obama,” Scott said. “Whenever the Democrats feel threatened, they pull out – drag out – the former president, have him make some negative comments about someone running, hoping that their…

People photograph Apple’s new Vision Pro virtual reality headset during Apple’s Worldwide Developers … [+] Conference (WWDC) at the Apple Park campus in Cupertino, California, on June 5, 2023 (Photo by JOSH EDELSON/AFP via Getty Images)AFP via Getty Images Now that Apple AAPL has entered the virtual reality (VR) and augmented reality (AR) field with its Vision Pro headset, I think we can begin to see how the metaverses are going to permeate everyday life in the not-too-distant future. I have a feeling that Apple’s launch, rather than Meta’s acquisition of Oculus, will in time be seen as the cusp…

Fidelity International is expanding into European business lending as asset managers seek to exploit gaps in the market after the financial crisis and recent banking turmoil.Fidelity, which oversees more than $700bn, is launching a fund that will make secured loans to midsized European corporates with annual earnings of around €5mn to €30mn.The private credit team will run the Luxembourg-domiciled, closed-end fund with a focus on senior debt. It aims to make its first investment in the coming weeks. The launch comes just after BlackRock, the world’s biggest asset manager with more than $9tn in assets, bought private debt business Kreos…

© Reuters. FILE PHOTO: The Boeing 737 MAX aircraft is displayed at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022. REUTERS/Peter Cziborra/File Photo PARIS (Reuters) – Boeing (NYSE:) expects to increase production of its best-selling 737 MAX to 38 jets a month “pretty soon,” but the company is likely to see supply chain instability at every rate increase, the head of Boeing Commercial Airplanes (BCA) said Sunday. Boeing had planned to bolster 737 MAX production from its current 31 jets per month before the end of the year, but that could occur “sooner rather than later,” BCA CEO…

Mario Tama/Getty Images News New York Stock Exchange President Lynn Martin believes that the IPO of Mediterranean fast casual restaurant chain Cava (NYSE:CAVA) on Thursday is a positive sign for the IPO market to recover from its recent drought. “This is an amazing sign for that IPO window,” Martin told CNBC in an interview on Thursday, where Cava stock opened up 91% above its $22 IPO price and closed the day up almost 100% near $44 a share. Martin explained that companies that have been looking at IPOs for the past 18 months are beginning to have conversations with the…

A worker lost a fingertip while working at a Hostess Brands facility, the Labor Department said. The injury was reported by the company last December. Federal investigators now say the company failed to provide workers with proper training. 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 The maker of Twinkies faces a nearly $300,000 fine after a worker severed his fingertip in manufacturing equipment at a facility in Chicago, an injury that federal investigators said could have been prevented.In a letter this month to…

Intel has agreed “in principle” to invest approximately $25bn in a new chipmaking factory in Israel, prime minister Benjamin Netanyahu said on Sunday.The US semiconductor group said that it had “submitted a business plan to upgrade its manufacturing facilities in Israel”, where it has operated since 1974, but declined to confirm “specific details of the project”.“Our intention to expand manufacturing capacity in Israel is driven by our commitment to meeting future manufacturing needs . . . and we appreciate the continued support of the Israeli government,” Intel said in a statement.The upgrade is one of a number of chip plant investments planned by…