Crypto firms have been left scrambling to find banking partners after the collapse of three crypto-friendly lenders in the U.S. last month, creating a risk their business will become concentrated in smaller financial institutions.
Morgan Stanley’s first-quarter profit beat expectations as rising revenue from its wealth management division offset declines in its investment banking and trading units.
Ryanair will have to trim its July schedule because it expects around 10 Boeing 737 MAX aircraft will be delayed due to manufacturing issues, Group Chief Executive Michael O’Leary said on Wednesday.
Abbott Laboratories reported quarterly profit above expectations on Wednesday, driven by sales of its diabetes care devices and an improved demand for other devices due to a resumption in non-urgent medical procedures.
Forty-two German associations and trade unions representing more than 140,000 authors and performers on Wednesday urged the European Union to beef up draft artificial intelligence rules as they singled out the threat to their copyright from ChatGPT.
Oilfield firm Baker Hughes Co beat first-quarter profit estimates on Wednesday, as stronger oil prices have supported demand for its equipment and services.
Nasdaq Inc’s first-quarter profit beat Wall Street estimates on Wednesday as increased market volatility boosted trading and helped mitigate a hit to the indexing business of the Transatlantic-exchange operator.
Property and casualty insurer Travelers Companies Inc on Wednesday reported a fall in quarterly profit, hurt by severe wind and hail storms in parts of the United States in March.
Citigroup raised its 2023 global economic growth forecast to 2.4%, citing “solid” performance in the United States, euro area and China, and also pushed out its expectation for a U.S. recession to the fourth quarter of the year.
U.S. stock index futures fell on Wednesday as Treasury yields rose on expectations the Federal Reserve could keep interest rates higher for longer, while a slide in Tesla and Netflix shares was set to weigh on the tech-heavy Nasdaq.
