Author: News Room

HSBC has hired more than 40 investment bankers who used to work at Silicon Valley Bank, the latest move by the British lender to scoop up parts of the failed tech-focused bank.A month after HSBC acquired SVB’s UK subsidiary for £1, the bank is now hiring several dozen of its US bankers from First Citizens, which recently bought much of SVB in an auction handled by the Federal Deposit Insurance Corporation. The group of ex-SVB bankers will establish a new banking practice targeting tech and healthcare companies as well as venture capital funds, HSBC said in a statement on Tuesday.…

The Chinese electric vehicle (“EV”) space continues to struggle to rebound from covid restrictions and the lack of subsidies that caused a rush to purchase vehicles at the end of 2022. NIO Inc. (NYSE:NIO) has fallen flat to start 2023, with sales growth not matching internal targets, though the EV company is making progress. My investment thesis remains ultra-Bullish on the breakout potential in the sector, though NIO continues to struggle to grow beyond prior sales peaks. Source: Finviz March Struggle After NIO reported strong deliveries in February, the Chinese EV company was back to reporting weak numbers in March.…

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The latest Bitcoin (BTC) price pump, which has seen the world’s largest cryptocurrency rally into the mid-$30,000s per token, has obliterated millions worth of short positions.Indeed, in the last two days, $107 million worth of Bitcoin futures short positions have been liquidated across major cryptocurrency exchanges, according to crypto derivatives analytics website CoinGlass.Around $60 million in short position have been liquidated on Tuesday alone, the highest daily tally since the 16th of March.A separate chart presented by CoinGlass shows that bulls are gaining the upper hand when it comes to demand for Bitcoin futures leverage.The Bitcoin futures leverage funding rate…

Dominion Voting Systems can’t bring up the January 6 insurrection during its upcoming defamation trial against Fox News, a Delaware judge ruled Tuesday, who also revealed at a hearing that he has been receiving death threats. The voting technology company sued Fox News over the right-wing network’s promotions of false claims that Dominion voting machines rigged the 2020 election. But almost all of the allegedly defamatory statements mentioned in Dominion’s lawsuit occurred before the January 6, 2021, storming of the US Capitol. Delaware Superior Court Judge Eric Davis said at a hearing Tuesday that invoking January 6 would be too…

Here are the most important news items that investors need to start their trading day:1. UptickStock futures were up slightly in premarket trading Tuesday after notching modest moves during Monday’s regular session trading. The Dow Jones Industrial Average and the S&P 500 both inched higher on Monday, gaining 0.3% and 0.1%, respectively, while tech-heavy Nasdaq Composite slipped 0.03%. Investors await more inflation data and the first bank earnings reports of the season, due later this week. JPMorgan Chase, Wells Fargo and Citigroup will all report their results on Friday. Follow live market updates.2. Credit concernsAdd diminishing access to credit to the growing list of concerns that Americans have for the…

Walmart has announced Tuesday that it is closing four of its Chicago stores because they are part of a group of locations that “lose tens of millions of dollars a year.”  The retail giant says the Chatham Supercenter, the Walmart Health center, and the Walmart Academy at 8431 S. Stewart Ave., the Kenwood Neighborhood Market at 4720 S. Cottage Grove Ave., the Lakeview Neighborhood Market at 2844 N. Broadway St. and the Little Village Neighborhood Market at 2551 W. Cermak Road will shutter this upcoming Sunday. “The simplest explanation is that collectively our Chicago stores have not been profitable since we…

Arriving at a conference, I went to hang my coat on the rack and noticed one that was almost identical to mine. I hung my coat as far away from that one as possible. A couple of hours later while heading to a session, I noticed a woman wearing my coat. She was furiously checking the pockets and saying to her companion, “My keys aren’t here.” I walked up to her and politely said, “Your keys aren’t in the pocket because that’s my coat.” It fit her but didn’t meet her needs. Many people don’t want to deal with Medicare.…

Topline Weight Watchers parent WW International’s share price rallied 64% on Tuesday after acquiring a company largely dedicated to helping patients get weight-loss drugs like Ozempic, as one analyst predicted WW International’s $100 million acquisition deal will help reawaken the struggling diet-focused company. Key Facts WW International closed on its purchase of the weight loss telehealth provider Sequence Monday after markets closed, after previously announcing it entered an agreement last month. The acquisition spurred Goldman Sachs analyst Jason English to upgrade WW International from a hold to a buy, upping his price target for the stock more than 200% from…

The problem for many investors is that they are constantly bombarded with scary headlines that can lead to a detrimental decision to exit a long-term-oriented investment plan. As Lao Tzu states, “If you do not change direction, you may end up where you are heading,” but the sensationalistic 24/7 media world in which we reside today doesn’t make it easy to stay the course through thick and thin. However, no matter how disconcerting events may seem, history shows that the key to success in stocks is not to get scared out of them! Alas, fear sells much better than greed…