Finance

Paolo Ardoino, Tether’s chief technology officer, said the company estimates that the excess reserve will increase by $700 million in the current quarter, which is not yet over. Justin Tallis | Afp | Getty Images Cryptocurrency giant Tether is setting up a bitcoin mining operation in Uruguay using renewable energy, …

Traders react as Federal Reserve Chair Jerome Powell is seen delivering remarks on a screen, on the floor of the New York Stock Exchange (NYSE) in New York City, March 22, 2023. Brendan McDermid | Reuters The market has long been pricing in interest rate cuts from major central banks …

China’s pandemic-battered economy is starting to see consumers open their wallets wider, according to KraneShares’ Brendan Ahern. “We’re seeing the incremental rebound from the Chinese consumer,” the firm’s chief investment officer told “ETF Edge” this week. “[But] it’s not like turning on a light switch.” The National Bureau of Statistics …

A Ford F-150 Lightning Platinum electric truck during the 2022 New York International Auto Show, New York. Michael Nagle | Bloomberg | Getty Images Check out the companies making the biggest moves midday Friday. Ford — Shares popped about 7% after Ford and Tesla announced a partnership late Thursday that …

Iparraguirre Recio | Moment | Getty Images 44% of plans offer a ‘rare’ advantage Companies use different timelines, or vesting schedules, to determine how long it takes for savers to fully own the employer contributions. In some cases, they must work at a company at least six years before the …

Getty | mihailomilovanovic The federal debt-ceiling standoff and the specter of a possible recession on the horizon may mean turbulent times ahead for the stock market — and that’s especially worrisome for retirees who rely on their investment portfolios for income. Retirees are generally advised to hold some stocks as …

The logo of NVIDIA as seen at its corporate headquarters in Santa Clara, California, in May of 2022. Nvidia | via Reuters Check out the companies making the biggest moves in premarket trading Thursday: Nvidia — Shares soared 28% after the chipmaker reported blockbuster earnings. Nvidia said it expected a …

Federal Reserve officials were divided at their last meeting over where to go with interest rates, with some members seeing the need for more increases while others expected a slowdown in growth to remove the need to tighten further, minutes released Wednesday showed. Though the decision to increase the Fed’s …

Customers exit an Abercrombie & Fitch store in San Francisco, California. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Citigroup – Citigroup shares fell nearly 3%. The bank announced plans to spin off its Mexico business Banamex through an initial public …

People look for jobs at a fair in Shanghai, China, on May 20, 2023. Bloomberg | Bloomberg | Getty Images Record unemployment among China’s young people stems partly from a mismatch between their majors and available jobs, Goldman Sachs analysts said in a report Monday. Graduates from vocational schools studying …