Author: News Room

Carlyle Group has abandoned its long-planned investment in healthcare analytics company Cotiviti, according to people briefed on the matter, dealing a blow to the private equity firm as it struggles to raise cash for buyouts after upheaval in its top ranks.The deal’s demise took investors across Wall Street by surprise, since Carlyle had lined up $5.5bn in debt and a further $1bn preferred stock investment to finance the transaction.Cotiviti’s owner, Veritas Capital, another US-based private equity firm, had hoped to sell half of the business at an about $15bn valuation. Late in the process, Carlyle sought to lower its purchase…

I rate the Global X Internet of Things ETF (NASDAQ:SNSR) a Hold for the time being. SNSR is an ETF that invests in companies that are involved in the development, manufacturing, and distribution of IoT technologies. SNSR has the potential to benefit from the growth of the IoT market. The fund has almost 50% of its assets invested in its top 10 holdings, which reduces single-stock risk while emphasizing some of the most prominent businesses in the space. While I maintain a long-term bullish outlook on IoT companies, current market conditions, including high inflation and the possibility of further tightening…

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Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.Artificial Intelligence (AI) has been one of the biggest buzzwords in the world of technology for months now. Interestingly, it was also a huge point of interest in the world of finance, leading many to start investing in this sector, which is now considered to be the next big thing.While AI itself is extremely promising from the investors’ perspective, MindAI has decided to take things to the next level and combine it with another lucrative business — a cryptocurrency exchange.As it is well-known, the crypto industry has…

The Writers Guild of America is set to hold a strike authorization vote on Tuesday. If it passes, which it is expected to, that will allow leadership to call a strike if the Guild and the Alliance of Motion Pictures and Television Producers do not reach a new contract agreement by May 1. “The studios need to respond to the crisis writers face,” WGA leadership said in a message to members ahead of the vote. “WGA members must demonstrate our willingness to fight for the contract writers need and deserve by supporting a strike authorization vote.” The two sides have…

Treasury Secretary Janet Yellen said the U.S. economy and America’s financial system are doing well despite headwinds caused by the recent banking crisis and the Fed’s efforts to tame inflation. Yellen spoke at a press conference Tuesday to mark the beginning of the World Bank and International Monetary Fund’s spring meetings and said that while there is still a chance of a credit contraction and economic downturn, she’s optimistic about the trajectory of the U.S. economy.  “I’ve not really seen evidence at this stage suggesting a contraction in credit, although that is a possibility,” Yellen said. “I believe our banking…

CAIRO (Reuters) – Egypt’s annual urban consumer inflation rate in March climbed to 32.7% year-on-year, just shy of an all-time record, from 31.9% in February, data from the country’s statistics agency CAPMAS showed on Monday. Month-on-month, urban inflation slowed to 2.7% in March from 6.5% in February and 4.7% in January. Egypt’s surging inflation rate follows a series of currency devaluations starting in March 2022, a prolonged shortage of foreign currency, and continuing delays in getting imports into the country. Egypt, which secured a $3 billion financial support package from the International Monetary Fund in December, has devalued its currency…

By Arathy Somasekhar and Stephanie Kelly HOUSTON/NEW YORK (Reuters) – Non-OPEC countries will account for a higher percentage of oil production gains this year and next, a reversal of the last two years, the U.S. Energy Information Administration predicted on Tuesday. Gains by the U.S., Brazil, Canada and Guyana will overshadow OPEC after Saudi Arabia and other Middle East producers this month disclosed plans to cut output by around 1.16 million barrels per day beginning next month. Total non-OPEC liquid fuels production is expected to grow by 1.9 million barrels per day (bpd) in 2023 and by 1 million bpd in…

© Reuters By Yasin Ebrahim Investing.com — The S&P 500 cut losses Monday but upside momentum was kept in check by an Apple-infused slip in big tech and jitters about further Federal Reserve tightening following a strong March jobs report. The was down 0.1%, the added 0.2%, or 52 points, and the fell 0.2%. Apple personal computer shipments declined by 40.5% in the first quarter, according to market research firm IDC, impacted by weak demand and high inventory. Apple Inc (NASDAQ:) fell about 2%, with Alphabet Inc (NASDAQ:) and Microsoft Corporation (NASDAQ:) also leading to the downside. Sentiment on growth…

The U.S. and global economies are likely to struggle to grow over the next few years as countries fight to reduce high inflation and cope with rising interest rates, the IMF said Tuesday. The latest projections paint a gloomy picture of the challenges facing the world. Chief among them is high inflation, a problem the IMF said has proven stickier than expected compared to “even a few months ago.” Price increases in goods and services other than food and gasoline are still high, the IMF said, and a tight labor market could keep upward pressure on wages. Inflation globally is…