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Tech stocks pare deep losses but still decline as Fed's Powell eases concerns over runaway inflation

5 days ago   |   By Business Insider

Traders work, as a screen shows Federal Reserve Chairman Jerome Powell's news conference after the U.S. Federal Reserve interest rates announcement, on the floor of the New York Stock Exchange in New York, U.S., October 30, 2019.
Brendan McDermid/Reuters
US stocks pared losses but closed lower on Tuesday after Fed chair Jerome Powell staved off fears of rampant inflation. Stimulus and reopening could lift price growth, but the effect will likely be small and temporary, Powell said. Bitcoin tanked below $49,000 after trading as high as $55,053.91 Monday afternoon as investors snapped up...
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The Fed is looking carefully at issuing a digital dollar, Chairman Jerome Powell tells Congress

5 days ago   |   By Business Insider

Sarah Silbiger/Getty Images
Federal Reserve Chairman Jerome Powell told Congress on Tuesday that it is looking carefully at issuing a digital US dollar. Powell called the potential digital dollar a "high priority" project, according to the testimony. The potential issuance of a digital dollar would come amid a surge in cryptocurrencies like bitcoin, which briefly surpassed $1 trillion in market value last week. Sign up here for our daily newsletter, 10 Things Before the Opening Bell Federal Reserve Chairman Jerome Powell told Congress on Tuesday that the Fed is "looking carefully" at...
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Citi says bitcoin could become the currency of global trade in a 'massive...

Citi said bitcoin is at a "tipping point." NurPhoto/Getty Images Bitcoin could be at the start of a "massive transformation" into the mainstream of finance, Citi said. The bank... Read more ...

Times Square Still Tingles-Now Enjoy It At A Leisurely Pace

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Around-the-world cruises costing up to $500,000 are selling out 2 years in...

Oceania Cruises' Insignia ship. Oceania Cruises More eager cruise-goers are buying tickets up to two years in advance, leaving some cruises sold out. Month-long trips with... Read more ...

Newest Vegas Hotel Casino Opens - Preview The Virgin Hotels Las Vegas

Las Vegas is rebounding from the coronavirus pandemic with new casino resorts opening, including the Virgin Hotels Las Vegas this month. Read more ...

Ajman Tourism launches interactive digital map for tourists

Ajman Tourism launches interactive digital map for tourists

Ajman Tourism Development Department is showcasing an interactive digital map for the emirate of Ajman, providing visitors with key information on top tourist attractions... Read more ...

'Big Short' investor Michael Burry slams bitcoin as a 'speculative bubble'...

Michael Burry. Bloomberg TV Michael Burry warned that bitcoin is a 'speculative bubble.' "The Big Short" investor grouped it with electric vehicles, SAAS, and meme stocks. He... Read more ...

Sacha Baron Cohen mocked Rudy Giuliani in his Golden Globes victory speech...

The actor Sacha Baron Cohen and his wife, Isla Fisher. NBC Sacha Baron Cohen called out Rudy Giuliani in his Golden Globes acceptance speech on Sunday. Giuliani was filmed... Read more ...

Struggling AMC is giving its CEO a $3.75 million bonus, and paying $8.3...

Adam Aron, AMC CEO Alberto E. Rodriguez / Getty Images Struggling movie theater chain AMC is paying its CEO Adam Aron a $3.75 million bonus, it wrote in a filing Friday. Other... Read more ...

The CEO of far-right social media site Gab said it was under attack from...

Twitter/Business Insider Gab CEO Andrew Torba said Sunday the right-wing social-media site was under attack by "demon hackers." The hacker created a dataset of more than 40... Read more ...

The World's 20 Unhealthiest Cities

Study ranks the best and worst places to lead a healthy happy life. Read more ...