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Finance News — Page 91
Dow Drops 700 Points as Treasury Bid to Tame Yields Fails
US stocks sold off sharply, with the Dow tumbling 700 points after a Treasury plan to subdue bond yields failed and bond market stress returned, dragging Walmart shares lower too.
Anthropic Targets SpaceX's IPO Record
Anthropic is targeting an IPO that would match or surpass SpaceX's record, backed by a $65 billion annualized revenue run rate the AI lab disclosed to investors in July.
Alibaba Revenue Up 9%, AI Cloud 45%, Profit Drops 75%
Alibaba posted 9% revenue growth—its fastest in three years—driven by 45% cloud expansion and a 12th straight quarter of triple-digit AI revenue, but a 75% net income plunge and $6.6 billion cash outf
Bessent: Treasury Bond Buybacks May Exceed Initial Plan
Treasury Secretary Scott Bessent doubled down on Treasury's bond market intervention, signaling the department could make additional moves and that its bond buybacks may run larger than initially anno
Canadian Banks Restrict Employee Prediction Market Bets
Canada's largest banks — including RBC, Scotiabank, TD, National Bank, and Manulife — have updated employee personal trading policies to bar or restrict prediction-market betting, particularly for sta
Walmart’s stock slides as investors worry that pressure on consumers is getting worse
Walmart shares tumbled Thursday after the retailer reported weaker-than-expected U.S. comparable sales and guidance, with executives describing the consumer environment as "arguably softer" than earli
Bitcoin Hits Highest Price Since June as $3 Billion in Shorts Liquidated
Bitcoin surged past $72,000 Thursday as a record $3 billion in short positions were liquidated, fueled by a surprise U.S. Treasury expansion of its bond buyback program and a White House crypto summit
Bessent says Treasury buyback operation could be more than $4 billion
Treasury Secretary Bessent told CNBC that an accelerated government-debt buyback could exceed the announced $4 billion per issue, aiming to calm surging long-end yields that have pushed the 30-year bo
Evergrande Founder Hui Ka Yan Gets Life Sentence
**Hui Ka Yan**, founder of China Evergrande Group, was sentenced to life in prison by a Chinese court on Thursday — five years after the world's most-indebted property developer collapsed and rattled
Dow Drops Nearly 500 Points as Yields Rise, Walmart Tanks
U.S. stocks slid as rising Treasury yields and weak Walmart results pressured the market, with the Dow dropping nearly 500 points after a Treasury plan failed to contain yields.
Trump calls for lower interest rates as Fed officials watch inflation - USA Today
Trump publicly demanded interest rate cuts, calling current rates "ridiculous," while simultaneously praising Fed Governor Kevin Warsh and attacking the Fed board as officials monitor inflation.
Alibaba’s Revenue Climbs 9% in Testament to China’s AI Boom - Bloomberg.com
Alibaba posted 9% quarterly revenue growth even as shares fell 5% on heavy AI spending that drove a 75% drop in net income.
Charter Closes $34.5B Cox Deal, Spectrum Hits 45 States
Charter Communications closed its $34.5 billion acquisition of Cox Communications, creating a combined cable and broadband company with 37 million subscribers and a Spectrum footprint spanning 45 stat
New Force Drives U.S. Inequality; AI Tax Hopes Hedge
Coverage across The Washington Post, The New York Times, CEPR, and the Baton Rouge Business Report frames AI as a new economic force widening American inequality, while exploring whether AI-driven tax
Stocks Stall as Bond Yields Rise; Walmart Drops Post-Earnings
US stock indices struggled for direction as bond yields climbed higher, with Walmart sliding after reporting its latest quarterly results.
Kalshi Files for Copper Perpetual Futures with CFTC
Kalshi filed with the CFTC to launch COPPERPERP, a perpetual futures contract tracking copper's spot price using Pyth Network data, pushing deeper into commodity derivatives as its event-based predict
Walmart’s strong quarterly results tempered by tepid full-year outlook
Walmart posted stronger-than-expected Q2 results but its cautious full-year EPS outlook sent shares down nearly 6% pre-market, as the retail bellwether braces for a cooling consumer.
EXCLUSIVE: More than 150 Polymarket wallets may have traded on military secrets, research finds - Reuters
Research identified more than 150 Polymarket wallets that may have traded on classified military information, prompting calls for a probe into potential insider betting on the prediction platform.
KOSPI Surges 6% as SK Hynix, Samsung Lead Chip Rally
Asian stocks rallied broadly, led by South Korea's KOSPI surging nearly 6% as chip makers SK Hynix (+12%) and Samsung (+9%) surged on easing US Treasury yields following government buybacks.
US national debt hits $40 trillion, rising by $90K per second - WJLA
The US national debt has crossed $40 trillion for the first time, with multiple outlets tracking the milestone and reporting a rate of roughly $90,000 per second in new borrowing.
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