Chinese tech giant Tencent released quarterly results Wednesday. Nurphoto | Nurphoto | Getty Images BEIJING — Chinese tech giant Tencent reported better-than-expected quarterly revenue on Wednesday, helped by growth in ads within its growing “video accounts” business. Overall revenue for the quarter ended Dec. 31 came in at 144.95 billion …

A major Wall Street firm is ranking financial instability over inflation as the biggest economic risk for the next three months. In an interview following the Federal Reserve’s quarter point interest rate hike, Wells Fargo Securities’ Michael Schumacher suggested policymakers are underestimating how quickly tightening credit conditions could hurt the …

Recent bank woes and rising interest rates have prompted higher levels of economic uncertainty. When it comes to the markets, that means more volatility may be in the forecast. Volatility happens when the value of an investment “fluctuates wildly in a short period of time,” according to the Financial Industry …

What the federal funds rate means to you “The bank problems are probably making a lot of people think twice,” said Diana Furchtgott-Roth, an economics professor at George Washington University and former chief economist at the Department of Labor. “People are not as confident,” she said, referring to the wealth effect, or …

In this photo illustration, the Coinbase logo is displayed on a smartphone screen. Rafael Henrique | SOPA Images | Lightrocket | Getty Images The Securities and Exchange Commission issued crypto exchange Coinbase a Wells notice, warning the company that it identified potential violations of U.S. securities law. Coinbase shares fell …

A pedestrian walks past Biogen Inc. headquarters in Cambridge, Massachusetts, U.S., on Monday, June 7, 2021. Adam Glanzman | Bloomberg | Getty Images The Food and Drug Administration’s independent panel of advisors on Wednesday declined to endorse accelerated approval of Biogen’s investigational ALS drug for a rare and aggressive form …

U.S. Secretary of the Treasury testifies before the Senate Appropriations Subcommittee on Financial Services March 22, 2023 in Washington, DC. Win Mcnamee | Getty Images WASHINGTON — Federal bank regulators are prepared to do whatever is needed to “ensure that depositors’ savings remain safe” in U.S. banks, Treasury Secretary Janet …

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, DC, on March 22, 2023. Olivier Douliery | AFP | Getty Images Federal Reserve Chair Jerome Powell said Wednesday that the U.S. banking sector is strong but that the recent failure of some …

WASHINGTON — The Federal Reserve on Wednesday enacted a quarter percentage point interest rate increase, expressing caution about the recent banking crisis and indicating that hikes are nearing an end. Along with its ninth hike since March 2022, the rate-setting Federal Open Market Committee noted that future increases are not …

Moderna CEO Stephane Bancel on Wednesday defended the company’s plans to hike the price of its Covid shots fivefold, deflecting pressure at a Senate hearing to abandon the increase while taking barbs over his compensation. Moderna plans to raise the list price of its vaccine 400% to $130 when the …