The Biden administration will need to cover a significant new funding gap if California’s controversial bullet train is to remain on track. But it’s unclear whether federal support, if it materializes, would be sufficient to overcome the tough economic environment, political opposition on state and federal levels and constantly rising costs that dog the nation’s
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China has released a top chip investor after an eight-month detention as the country battles to bolster its semiconductor industry in the face of Washington’s containment efforts. Chen Datong, head of Yuanhe Puhua (Suzhou) Investment Management, also known as Hua Capital, was released this month as Beijing seeks help from chip experts to navigate tough
Bitcoin’s (BTC) 17.5% rally between March 16 and March 22 surprised options traders betting on price levels below $26,000. The movement resulted from investors seeking protection against persistent inflation and the ongoing banking crisis. Bitcoin bulls have been paying close attention to the negative effects of near-zero interest rates between April 2020 and April 2022,
In this article REGN NFLX PACW FRC META Follow your favorite stocksCREATE FREE ACCOUNT Aaronp/bauer-griffin | Gc Images | Getty Images Check out the companies making the biggest moves midday: Netflix — The streaming giant’s stock climbed 8.5% following a report from YipitData that said the company’s gross additions in Canada have improved. YipitData wasn’t
Ethereum’s native token, Ether (ETH), continues its multi-month downtrend against Bitcoin (BTC) in March, rising 5.5% versus the latter’s 19.5% gains on a month-to-date (MTD) timeframe. Bitcoin overshadows Ethereum amid banking crisis As of March 23, the ETH/BTC pair was down about 9% month-to-date (MTD) to 0.0633 while staying on course to record its worst
A bill prohibiting state and local government contracts with large banks that “discriminate” against the firearm industry cleared the Republican-controlled Oklahoma House Wednesday as lawmakers try again to enact a ban. Ahead of the 74-19 vote, House Bill 2218 was amended to apply only to financial institutions with at least $50 billion in assets. For
Angry investors are parking metaphorical tanks on Paradeplatz in Zurich’s financial district. Holders of $17bn in Credit Suisse AT1 bonds are squaring up for a legal fight with Switzerland. This promises to be as fierce as the scrap between Argentina and US hedge funds over a 2001 debt default. Swiss authorities wiped out $17bn of
Bitcoin (BTC) saw heavy volatility on March 22 as the United States Federal Reserve hinted that it may stop interest rate hikes. Powell on rates: “‘May’ and ‘some’ instead of ‘ongoing'” Data from Cointelegraph Markets Pro and TradingView showed sharp moves both up and down for BTC/USD as the Fed hiked by an anticipated 25 basis
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 headlines in midday trading. Nvidia — Nvidia shares gained nearly 3% midday, building on their recent outperformance. Wall Street analysts lauded the company’s artificial intelligence leadership following its
Cardano (ADA) rallied to its best price level in a month as cryptocurrency investors prepared for the Federal Reserve’s looming interest rate decision. Fed boosts appetite for cryptos like ADA On March 22, ADA’s price surged by as much as 4.58% to $0.388, its highest level since Feb. 24. This bucked the trend as the total
This architectural home in Breckenridge, Colorado, is a standout with distinctive steel truss construction and metalwork accents. A pivoting front door and custom cold-poured steel walls set the dwelling’s design further apart in the resort town. Outshining the mountain contemporary itself, however, is the location. “Second to none,” says listing agent David Levinson of Slifer
A For Sale sign displayed in front of a home on February 22, 2023 in Miami, Florida. Joe Raedle | Getty Images Mortgage demand has increased for three straight weeks now, as interest rates dropped in response to the recent bank failures. But rates are rising again, and that could put a damper on application
The Washington state Senate’s capital construction budget would nix Gov. Jay Inslee’s plan to issue $4 billion in housing bonds to spur construction and expedite efforts to lessen the state’s housing crisis. In December, Inslee released a housing proposal as part of his budget that included placing a referendum on the ballot for the bonds,
XRP’s (XRP) price extended its gains on March 21, rising 21% in the last few hours. XRP price rallies as Bitcoin recaptures $28,000 The rally in the XRP/USD pair started on March 21 with the XRP price reaching a 90-day high of $0.459. The price move comes as Bitcoin (BTC) and Ether (ETH) rallied more
UK inflation unexpectedly accelerated in February, adding to pressure on the Bank of England to raise interest rates again at its meeting on Thursday. The annual rate of consumer price inflation rose to 10.4 per cent in February, the Office for National Statistics said on Wednesday. That was up from 10.1 per cent in January
On Monday, U.S. president Joe Biden published the administration’s economic report and addressed the subject of cryptocurrencies. The section titled “The Perceived Appeal of Crypto Assets” describes the currencies as “mostly speculative investment vehicles” that are “unbacked” and “traded without fundamental anchors.” The White House insists that crypto assets do not deliver on their promises
In this article TSLA FRC USB JPM FL UBSG-CH Follow your favorite stocksCREATE FREE ACCOUNT Image taken with a drone) A Tesla collision center is seen in this aerial view in Orlando. Paul Hennessy | Lightrocket | Getty Images Check out the companies making headlines in midday trading Tuesday. Tesla — Shares popped 5% after Moody’s
A “For Sale” sign outside of a home in Atlanta, Georgia, on Friday, Feb. 17, 2023. Dustin Chambers | Bloomberg | Getty Images Sales of previously owned homes rose 14.5% in February compared with January, according to a seasonally adjusted count by the National Association of Realtors. That put sales at an annualized rate of
President Joe Biden Monday followed through on his promise to veto a Congressional resolution that repealed a new labor rule allowing retirement plan managers to consider climate change and other environmental, social and governance risk factors in their investment decisions. “I just signed this veto because the legislation passed by the Congress would put at
The Virgin Islands Superior Court ruled the territory’s Senate has the power to alter the Water and Power Authority’s board of directors, a decision one municipal bond analyst called a credit positive. The court upheld a Senate bill requiring board members to have greater expertise in energy, technology, economics, and finance; reducing the number of