Sam Altman’s Reddit stake worth over $600 million after first day pop on NYSE
OpenAI CEO Sam Altman was a big winner in Reddit’s New York Stock Exchange debut on Thursday.
Nike shares slide on lackluster outlook, slowing China sales
Nike is in the midst of a broad restructuring to cut costs by about $2 billion over the next three years as consumer demand remains uncertain.
Retail traders are bailing on 3 of the hottest AI plays in the stock market today
The everyday investor appeared to take profit on some of these rallying names.
The Fed kept rates steady, but banks are cutting CD yields. Find good deals here
The clock is running out for competitive yields on certificates of deposit.
Hermes lawsuit claims luxury retailer reserves its famed Birkin bags only for its biggest spenders
The proposed lawsuit alleges that Hermes is violating antitrust law by making customers buy other goods before they can buy a Birkin bag.
DOJ sues Apple over iPhone monopoly in landmark antitrust case
Apple and its iPhone and App Store business have been eyed by the Department of Justice, which previously filed antitrust suits against Google.
Bank of England holds rates but says ‘moving in the right direction’ for cuts
The Bank of England on Thursday held interest rates steady at 5.25%, but hinted at cuts on the horizon as inflation falls faster than expected.
Top U.S. asset manager Vanguard doesn’t believe the Fed will cut interest rates this year
Top U.S. asset manager Vanguard doesn’t expect the Federal Reserve to cut interest rates this year.
Turkey’s central bank raises interest rate to 50% despite previous hints of end to hike cycle
Turkish annual consumer price inflation soared to 67% in February, fueling concerns that Turkey’s central bank might have to return to tightening.
Wary of inflation, Taiwan central bank raises key rate in surprise move
Taiwan’s central bank surprised markets by raising its policy rate on Thursday, wary of continued inflationary pressures and ahead of an expected rise in electricity prices next month.
