(Bloomberg) — It’s an oft-told anecdote littering social media: Those who invested early in cryptocurrencies have enjoyed life-changing wealth. Most Read from Bloomberg How much that extra cash gives them confidence to spend more — a phenomenon economists call the wealth effect — is a hot topic whenever crypto prices are surging. A group of
(Bloomberg) — US spot-Bitcoin exchange-traded funds suffered their largest daily outflow as the digital token heads for its worst week since August 2023. Most Read from Bloomberg Investors pulled a net $564 million from the batch of almost a dozen funds on Wednesday, the biggest drawdown since the products debuted in January. The prospect of
(Bloomberg) — Super Micro Computer Inc. reported quarterly sales that tripled from the same period last year but fell slightly short of estimates, disappointing investors who had sky-high expectations that the server maker’s business would benefit from AI-related demand. Most Read from Bloomberg Revenue in the fiscal third quarter, which ended March 31, climbed to
(Bloomberg) — Walgreens Boots Alliance Inc. shares capped off their worst month in more than five years as the troubled drugstore chain navigates a difficult turnaround that has caused investors to flee the stock. Most Read from Bloomberg The shares slid 18% in April hovering near the lowest level in nearly 26 years after the
(Bloomberg) — A batch of exchange-traded funds investing directly in crypto debuted in Hong Kong on Tuesday, heralding potential competition for US Bitcoin products whose popularity stoked a record rally in the digital asset. Most Read from Bloomberg Harvest Global Investments Ltd., the local unit of China Asset Management, and a partnership between HashKey Capital
(Bloomberg) — The yen swung in holiday-thinned market conditions, punching through 160 per dollar to its weakest in 34 years before rebounding strongly and raising speculation authorities may have intervened. Most Read from Bloomberg The Japanese currency dropped as much as 1.2% to 160.17 per dollar early on Monday before heading into the other direction
(Bloomberg) — The US plans to award Micron Technology Inc. $6.1 billion in grants and as much as $7.5 billion in loans to help the memory-chip maker build new American factories, rounding out a slew of major federal awards for advanced semiconductor manufacturing. Most Read from Bloomberg Micron has pledged to invest about $125 billion
(Bloomberg) — Major investors are opposing Woodside Energy Group Ltd.’s climate plans and the chairman’s reelection, raising questions about the strategy of Australia’s largest energy company as it rushes to expand oil and natural gas output. Most Read from Bloomberg Funds including the California State Teachers’ Retirement System and Australia’s Aware Super both voted against
(Bloomberg) — Edgar Allen’s High Ground Investment Management is preparing to start its second hedge fund, which will be run by former Adelphi Capital partner Henry Guest. Most Read from Bloomberg Guest, who joined Allen’s London-based firm last week, will focus on a concentrated portfolio of growth companies in the health-care and technology sectors in
(Bloomberg) — Private equity firm Blackstone Inc. made a new proposal worth about $1.5 billion to purchase Hipgnosis Songs Fund Ltd., topping a bid made last week by music rights investor Concord. Most Read from Bloomberg The company made an improved, fourth proposal on Saturday to acquire the entire issued and to-be-issued share capital of