Bitcoin Bounces Off Recent Lows for Biggest Gain in Six Weeks
Bitcoin posted its biggest gain in almost six weeks amid increased optimism that central banks will pause interest-rate hikes that had helped to dent the appeal of cryptocurrencies.
Bloomberg Business
Telecom Giant BCE Poised for Turnaround as Dividend Yield Soars
The stage is set for a comeback for BCE Inc. shares after the battered telecom giant’s dividend yield reached multiyear highs this week.
Snowflake Gives Restrained Outlook on Slower Software Demand
Snowflake Inc. gave a sales outlook for the current quarter in line with expectations, suggesting that companies are still cautious about expanding their cloud software budgets.
Uruguay Bankers’ Pension Fund to Sell Local Bonds in Rescue Plan
The pension fund serving Uruguay’s financial industry workers is set to sell as much as $400 million in local currency bonds as part of a rescue plan for the deficit-plagued institution.
Yen’s Too Weak and Benefits Are Waning, Japan Bourse Chief Says
The yen is too weak and its benefits for Japanese stocks are diminishing while negative economic side effects are starting to show, according to the chief of the nation’s stock exchanges.
China’s Bustling Car Market Is a Rare Black Mark on Hyundai’s Blockbuster Year
Hyundai Motor Co. and its affiliate Kia Corp. are having a blockbuster year, posting record profits as sales surge globally. The only black mark is China, where a lackluster performance is raising questions about their future in the world’s biggest automobile market.
Esmark Says It Will Not Make Takeover Bid for US Steel
Steel distributor Esmark Inc. has changed its mind on buying United States Steel Corp., citing union support for a rival bid from Cleveland-Cliffs Inc. for the sudden turnabout.
Cboe CEO Says Firm Can Go After Deals in Open Jurisdictions
Exchange operator Cboe Global Markets Inc. can do future acquisitions and expand its global presence as long as the firm maintains a “flexible balance sheet,” according to Chief Executive Officer Edward Tilly.
Ukraine Recap: Wagner Chief Was on Jet That Crashed, Russia Says
Wagner mercenary group founder Yevgeny Prigozhin was on a private jet that crashed Wednesday, killing everyone aboard on its way from Moscow to St. Petersburg, Russian aviation authorities said.
Peloton Shares Plunge on Weak Forecast and Expensive Recall
Peloton Interactive Inc. shares fell the most in more than six months after the fitness company gave a weak revenue forecast for the current quarter and said costs for a product recall were significantly more expensive than it anticipated.