Amazon's new CEO faces antitrust and worker pressure

New York (CNN Business)A proposed $30 billion insurance industry merger is off, one month after the Justice Department’s antitrust regulators sued to block it. It’s another sign of the tough stance the Biden administration is taking against corporate deal-making. The deal between Aon (AON), which is incorporated in England and Wales, and Ireland-based Willis Towers Watson (WLTW), was announced in […]

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Nvidia to buy chipmaker from SoftBank

New York (CNN Business)Chip giant Nvidia is the ninth-most valuable company in the S&P 500. With a market capitalization of almost $500 billion, the company is now worth nearly as much as semiconductor rivals Intel, Advanced Micro Devices and Qualcomm — combined. Could Nvidia soon wind up listed on the venerable Dow, too? There’s a strong case to be made […]

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Juul stops sales of popular mint flavor

New York (CNN Business)E-cigarettes were supposed to help Altria diversify beyond tobacco but its investment in Juul has turned into a recurring nightmare. Altria (MO), which sells the Marlboro, Virginia Slims and Parliament brands of cigarettes in the United States, announced Thursday that it was taking a $4.1 billion charge related to its Juul investment. It cited “the increased number […]

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Bitcoin and crypto's 'Elon Musk problem'

Hong Kong (CNN Business)Cryptocurrencies rallied Monday, just a week after they were hit by a major sell-off. As of 4:45 a.m. ET on Monday, bitcoin, ethereum and dogecoin had soared 10%, 7.3% and 11%, respectively, over the past 24 hours, according to data from CoinDesk. Bitcoin climbed to a six-week high of nearly $38,133, while ethereum reached $2,330. Dogecoin was […]

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Bitcoin tops $39,000 for the first time in nearly 6 weeks, adding $114 billion to the crypto market

Bitcoin surged on Sunday topping $39,000 for the first time since mid-June as sentiment turned bullish following a recent sell-off. Experts attributed the moves to a number of factors including recent bullish comments from Twitter CEO Jack Dorsey and Tesla CEO Elon Musk. Some of the concerns over the environmental impact of bitcoin mining and China's regulatory crackdown, have also […]

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California man arrested for alleged $9 million penny-stock fraud

A California man was arrested on federal securities fraud charges after making more than $9 million by manipulating penny-stock prices and targeting retail investors, according to prosecutors and the SEC. Charlie Abujudeh and his associates used deceptive promotional campaigns and aggressive sales tactics to falsely inflate stock prices and unload shares for profit, according to criminal and civil complaints. The […]

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Boston Beer stock obliterated as hard seltzer hit

Market futures rise after three-day win streak Slatestone Wealth chief market strategist Kenny Polcari says the concern around the Delta COVID variant impacting the markets was just a ‘narrative.’ Boston Beer, the maker of Sam Adams and Truly hard seltzer, is seeing its shares take a beating after management disclosed it overestimated the hard seltzer craze.  Ticker Security Last Change […]

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Nomura sees Singapore stocks benefiting from the global economic reopening

The relative outperformance of Singapore stocks regionally has been driven by the country's banks, according to Nomura's Chetan Seth. Looking ahead, the performance of Singapore's banks will be dependent on 10-year Treasury yields in the U.S., Seth said. The Nomura strategist also shared the investment outlook for Malaysia and Indonesia. In this article .SETI .STI .KLSE SINGAPORE — Singapore's markets […]

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