Berkshire Hathaway’s fourth-quarter operating earnings fall 8%
Berkshire Hathaway’s operating profit fell during the fourth quarter as inflationary pressures weighed on the business operations of the conglomerate. Berkshire Hathaway’s operating earnings totaled $6.7 billion in the fourth quarter of 2022, a release read Saturday. That’s down 7.9% from the …
SEC commissioner Peirce publicly rebukes her agency, Gensler on crypto regulation
The Securities and Exchange Commission’s Hester Peirce rebuked her agency’s crypto enforcement, calling it “paternalistic and lazy” and questioning whether a “hostile” regulatory environment is the best approach. Peirce was appointed to her position as commissioner by President Donald Trump in 2018, …
Some of Wall Street’s biggest names are exposed to the Adani Enterprises plunge
The shares of India’s Adani Enterprises have plummeted over the past week following the publication of a critical report by U.S. short-seller Hindenburg Research. Some big international players have exposure. Companies across the Adani Group have seen a huge sell-off that took …
Raphael Bostic Says Fed Needs to ‘Stay the Course’ despite Lower Wage Gains
Raphael Bostic, president of the Atlanta Federal Reserve, said Friday that the December jobs report, which shows a slower rate of wage increases and better-than-expected employment growth, does not change his view of monetary policy. According to the central bank official, interest …
Goldman Sachs Slips on Report That the Federal Reserve Is Investigating Its Marcus Business
The Federal Reserve is investigating Goldman Sachs’ consumer businesses. The company’s shares are now under scrutiny as they fell 2.54%. Goldman is now up 0.15% on the year. According to a Journal report, the regulator is investigating whether Goldman had the appropriate …
Citigroup’s fourth-quarter profit declines by 21% as bank sets aside more money for credit losses
Citigroup’s fourth-quarter net income fell by more than 21% from a year ago as the bank set aside more money for potential credit losses. Shares rose 1.7% as investors looked to some positives in the report, including a record fourth quarter for …
Bahamas regulator seizes $3.5 billion in FTX crypto assets for ‘safekeeping.’
The Bahamas Securities Commission seized cryptocurrency worth $3.5 billion from the collapsed crypto exchange FTX. The watchdog confirmed late Thursday that funds were taken from FTX’s Bahamian subsidiary, FTX Digital Markets, and moved into its own digital wallets “for safekeeping.” The regulator …
Binance’s native BNB token drops to its lowest level since July amid withdrawal concerns and FTX ties
It has been over a month since FTX collapsed, but investors’ concern over Binance has not lessened. In the past week, Binance’s native token, BNB, has declined 15%, including a decline of over 6% in the last 24 hours. BNB, first …
Wells Fargo agrees to $3.7 billion settlement with CFPB over consumer abuses
Wells Fargo has agreed to a 3.7 billion dollar settlement with the Consumer Financial Protection Bureau over customer abuses, including abuses related to checking accounts and mortgages. Some of the misconduct occurred as recently as this year. The company was ordered to …
FTX spokesman Kevin O’Leary says he lost his $15 million payday from the firm
As an investor, “Shark Tank” judge, and CNBC contributor, Kevin O’Leary said Thursday that he had lost all $15 million FTX paid him to serve as its spokesman. O’Leary and other celebrities, such as Tom Brady and Larry David, were sued by …
