The State of Michigan Retirement System (MSRS), which manages a significant portion of pension fund assets for state employees, has made a $6.6 million investment in the ARK 21Shares Bitcoin ETF (ARKB.Z), according to a …
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Microsoft Stock: UBS Remains Bullish on AI Growth Despite High Valuation
UBS analysts remain bullish on Microsoft (NASDAQ:MSFT), maintaining a Buy rating and a $520 price target. They believe the company’s AI story is a significant growth driver, justifying the high valuation despite tight IT budgets. …
Continue readingBitcoin Flat, Ether ETF Launch Fails to Spark Price Surge
Bitcoin traded sideways on Wednesday, holding steady at $66,450.2, recovering slightly after losses earlier this week. The lackluster performance comes amid heightened political uncertainty surrounding the U.S. presidential race and a general aversion to risk-driven …
Continue readingOil Prices Rise on US Inventory Draw, But Long-Term Concerns Linger
Oil prices climbed in Asian trade on Wednesday, finding a brief reprieve from recent losses. This upward tick was driven by a surprise decrease in US crude inventories, as reported by the American Petroleum Institute …
Continue readingLVMH Sales Growth Stumbles in Q2, Missing Estimates
LVMH, the world’s largest luxury goods conglomerate, reported a 1% rise in organic sales in the second quarter, falling short of analyst expectations. This slower-than-anticipated growth adds to concerns about a potential slowdown in the …
Continue readingIndia Slashes Gold and Silver Import Duties to Curb Smuggling, Boost Demand
India has taken a significant step towards curbing gold smuggling and stimulating domestic demand by slashing import duties on gold and silver. The move, announced on July 23, 2023, reduces import duties from 15% to …
Continue readingReal Bedford FC Doubles Down on Bitcoin with $4.5 Million Investment
Real Bedford FC, a nonleague football club in the UK, has made headlines with a significant $4.5 million investment in Bitcoin. The club, founded by crypto podcaster Peter McCormack, has now acquired 82.7 BTC, demonstrating …
Continue readingMattel Stock Soars on Buyout Offer from L Catterton
Mattel, the US toy maker, saw its stock price jump over 9% on Monday after reports emerged of a buyout offer from L Catterton, a private equity firm backed by luxury goods giant LVMH. While …
Continue readingBarclays Fights to Slash $720 Million Lawsuit Over “Dark Pool” Allegations
Barclays is seeking to significantly reduce a $720 million lawsuit filed by hundreds of institutional investors, who claim the bank misled them about its private “dark pool” trading platform, Barclays LX. The investors allege that …
Continue readingEcuador and ENAP SIPEC Renegotiate Oil Agreement, Boosting Production in Amazon
Ecuador and ENAP SIPEC, a subsidiary of Chile’s state-owned oil company ENAP, have renegotiated an oil agreement for a block in the Ecuadorian Amazon. The new agreement includes an additional investment of $90 million until …
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