Bitcoin and other cryptocurrencies experienced a surge followed by a retracement in value on Thursday after the Securities and Exchange Commission (SEC) gave approval for the first spot Bitcoin exchange-traded funds (ETFs). While the crypto community hailed this move as an endorsement, the price action indicated a "buy the rumor, sell the news" pattern unfolding. Over the past … [Read more...] about Bitcoin ETF Approval Sparks Market Volatility
Forex News
Coinbase Stock Rallies Following Bitcoin ETF Approval, But Analysts Warn of Challenges
Shares of Coinbase Global Inc. saw a significant surge on Thursday after the highly anticipated regulatory approval of spot bitcoin ETFs. However, some analysts caution that this approval may actually pose challenges for the cryptocurrency exchange. According to J.P. Morgan analyst Kenneth Worthington, the approval of bitcoin ETFs could potentially create a lose/lose situation … [Read more...] about Coinbase Stock Rallies Following Bitcoin ETF Approval, But Analysts Warn of Challenges
Burberry Faces Second Profit Warning Amidst Challenging Market Conditions
Burberry, the renowned British fashion house, has recently issued its second profit warning in a span of three months. The company attributes this downturn to disappointing sales figures experienced over the Christmas holiday period. As a result, Burberry's shares have also incurred significant losses, marking a challenging time for the brand. The luxury goods market worldwide … [Read more...] about Burberry Faces Second Profit Warning Amidst Challenging Market Conditions
Corus Entertainment Reports Rise in Profit, Despite Lower TV Ad Revenue
By Adriano Marchese Corus Entertainment, a Canadian mass media company, has announced a rise in net income for the first fiscal quarter, although revenue fell due to lower TV ad revenue. This decline is expected to continue into the next quarter. In the three-month period ending on November 30, the company reported net income of 32.7 million Canadian dollars ($24.4 million), or … [Read more...] about Corus Entertainment Reports Rise in Profit, Despite Lower TV Ad Revenue
Merrill Lynch Sees Growth in Financial Advisor Headcount and Client Base
In a recent announcement, Merrill Lynch revealed that its financial advisor headcount had increased by approximately 175 in 2023. Furthermore, the Bank of America wealth management unit and its private bank witnessed an impressive 45% surge in ultrahigh-net-worth clients. These developments were highlighted in the company's fourth-quarter earnings report. The combined efforts … [Read more...] about Merrill Lynch Sees Growth in Financial Advisor Headcount and Client Base
