A representation of cryptocurrency Ethereum is placed on a PC motherboard in this illustration taken on June 16, 2023.Dado Ruvic | ReutersThe SEC approved a rule change that would pave the way for ETFs that buy and hold ether, one of the world’s largest cryptocurrencies.The decision comes less than six months after the SEC approved bitcoin ETFs. Those funds have proven to be a big success for the industry, with net inflows already surpassing $12 billion, according to FactSet.Late May had long been pegged as a potential decision date for the ether funds since it coincided with a deadline for…
Author: insighter
Jeffrey Sonnenfeld, Yale School of ManagementScott Mlyn | CNBCAs this year’s proxy season draws to a close, defeat after defeat for activist investors in proxy fights this year – most prominently at Disney and Norfolk Southern – raises the question: Are activist investors increasingly getting de-activated, losing their credibility and power? These self-styled “activist investors” are distinct from the original activists who helped catalyze needed governance reforms two decades back.Whether today’s activist investors contribute any genuine economic value is open for debate. Their own track records suggest the answer has been a resounding “no.” We revealed previously during a misguided…
Officials continue to conduct operation and inspect the area after the train derailment in East Palestine, Ohio, United States on February 17, 2023. EPA | Anadolu | Getty ImagesNorfolk Southern has agreed to pay $310 million to settle charges over a toxic train derailment in East Palestine, Ohio, in February 2023, the company announced on Thursday.The majority of the settlement is an estimated $235 million to cover all past and future cleanup costs. Per the agreement, the company will also pay a $15 million civil penalty to resolve alleged violations of the Clean Water Act.The agreement resolves a lawsuit filed in…
Synapse Financial Technologies, a banking-as-a-service provider, has declared bankruptcy, causing neobanks that use their services to be unable to access customer funds.Popular banking apps like Yotta, Juno, Copper, are impacted, with some shutting down.Over one million Americans may be affected and unable to access their money. Neobanks like Yotta, Juno, and Copper had grown in popularity over the last few years. These banking apps were not actual banks – rather they were banking services that used technology to connect their apps to real bank accounts at partner banks.Synapse Financial Technologies was one of the largest providers of these “banking as…
It’s perhaps surprising that one of the tech world’s most prominent figures is going through life without checking the clock. But there’s a method to Huang’s madness, and likely a phone where he keeps tabs on what hour it is. “Very few people know this, but I don’t wear a watch,” he said at the Chinese American Semiconductor Professional Association in 2023. “Now is the most important time, just dedicate yourself to now,” Huang declared. It might be especially easy to stay in the now as Nvidia continues its winning streak. Demand remains so high that Nvidia is now set…
Jalen Brunson #11 of the New York Knicks drives to the basket during the game against the Indiana Pacers during Round 2 Game 1 of the 2024 NBA Playoffs on May 6, 2024 at Madison Square Garden in New York City, New York. Nathaniel S. Butler | National Basketball Association | Getty ImagesWarner Bros. Discovery is considering matching an offer for the media rights to a package of National Basketball Association games as the league looks to finalize terms — but its focus could be on a potential Amazon package rather than games slated for Comcast’s NBCUniversal, according to people familiar…
Skynesher | E+ | Getty ImagesBig pharma is betting billions on an up-and-coming class of cancer treatments that some on Wall Street are calling a “massive opportunity.”It’s called targeted radiopharmaceutical therapy. It essentially delivers radiation directly into tumors by attaching a radioactive particle to a targeting molecule.RBC Capital Markets sees a $25 billion market opportunity for the space.”We believe TRT development is still in its early stages, and next-generation technologies that enable improvements in therapeutic potency and address a wider range of cancer targets have the potential to drive value creation in the space,” analyst Gregory Renza, M.D., wrote in…
Nvidia CEO Jensen Huang delivers a keynote address during the Nvidia GTC Artificial Intelligence Conference at SAP Center on March 18, 2024 in San Jose, California. Justin Sullivan | Getty ImagesNvidia shares jumped more than 10% on Thursday after the company on Wednesday reported earnings that topped Wall Street estimates and showed that there’s still ferocious demand for its artificial intelligence chips. The company’s data center revenue grew by a whopping 427% during the quarter.First-quarter revenue came in higher than expected at $26.04 billion compared with the LSEG estimate of $24.65 billion. And the demand isn’t wavering.The company issued strong guidance,…
Tomarse esas vacaciones tan necesarias mientras se encuentra en un viaje de pago de deudas puede parecer imposible, pero no tiene por qué serlo. Si planifica unas vacaciones que se ajusten a su presupuesto y mantienen sus objetivos encaminados, podrá transportarse a un lugar nuevo y recargar su energía.Es un enfoque que Jasmine Gillians, especialista en permisos de ausencia y YouTuber del canal Jazzie RayShaune, está adoptando con su pareja. En su segundo viaje de pago de deudas, la pareja de Kansas City, Missouri, está trabajando para eliminar alrededor de $64,000 en deuda restante. Antes, tomaban el camino más estricto…
Faced with the threat of sinking and an economy that crowds out local people, Venice launched a measure last month that was as ambitious as it was contentious: a so-called “tourist tax” on daytrippers. But a few weeks in, the floating city has done little to prove it has found the solution to managing its love-hate relationship with 20 million annual visitors. The northern Italian city has collected just under €1 million ($1.1 million) in fees in the first 11 days of charging visitors €5 ($5.36) to enter for a day, new data shows. However, the charge doesn’t appear to…
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox. Housekeepers in Palm Beach and South Florida are cleaning up, with salaries often topping $150,000 and bidding wars between mansion owners becoming common, according to staffing companies. The mass wealth migration to Florida from New York and other high-tax states has created record demand for household staff in elite Florida enclaves — especially Palm Beach. Demand for butlers (now called “hospitality managers” or “estate managers”) as…
I’m always searching for the best personal finance, money, and investing podcasts.Until about six years ago, I NEVER listened to a podcast. I didn’t even really understand the concept before I tried it out. Now, I love podcasts! Maybe it’s because I’m a “dad”, and so it’s time to stop listening to “pop” and start paying attention to talk radio? Not really…Actually, I started listening to podcasts when I was driving about 25 minutes to work each direction, and I hate the radio because the commercials dominate it. Now, I’m playing all kinds of podcasts, including a lot of different…