Michael Barr, the Federal Reserve’s top regulatory official, said Monday the U.S. central bank is watching for any stresses to the financial system amid a weakening economy, and signaled that stiffer oversight of cryptocurrency is in the offing. The Fed “will be heightening its focus on liquidity, credit, and interest-rate risks as supervised institutions manage
UBS reported on Tuesday a net income of $1.8 billion for the first quarter, revealing that it had taken a considerable hit to earnings from the collapse of Archegos Capital Management. The Swiss bank said that it had taken a $774 million hit to revenue as a result of Archegos’s default earlier in the quarter.
Mobile game developer AppLovin is poised to become the latest online game provider to hit the public markets, joining a crop of companies to capitalize on a surge in usage during the pandemic. Read More
Dow component The Home Depot, Inc. (HD) is trading lower by more than 2% in Tuesday’s pre-market despite beating fourth quarter 2020 top- and bottom-line estimates by wide margins. The company booked a profit of $2.65 per share, $0.28 better than expectations, while revenue surged 25.1% year over year to $32.26 billion, beating consensus by
Nasdaq-100 component Baidu, Inc. (BIDU) is trading lower by less than 1% in Thursday’s pre-market session after meeting fourth quarter 2020 revenue guidance and beating profit estimates by a small margin. The Chinese search engine giant earned RMB 20.08 per share during the quarter, or $3.10 per share in greenbacks, while revenue rose 4.8% year
