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  • Feb 11, 2025

Australia's CBA first-half profit climbs as economic pain for consumers wanes

(Reuters) -Commonwealth Bank of Australia,, the country's biggest lender, said on Wednesday first-half profit rose slightly as an improving economy enabled it to slash loan impairment charges, sending its shares to a record high. Income tax cuts that took effect last July and rising wages have increased the amount people can save and spend, CBA said, adding that loan hardship cases had declined 15% from June to December and most borrowers were still ahead on repayments. "We expect Australia will follow offshore economies with an easing cycle starting in 2025", said CEO Matt Comyn.

  • Feb 11, 2025

Key takeaways from Fed Chair Jerome Powell’s congressional hearing

America’s central bank is in no rush to slash interest rates any time soon, Federal Reserve Chair Jerome Powell told lawmakers Tuesday. Powell also faced a barrage of questions about the Consumer Financial Protection Bureau, tariffs and Elon Musk’s Department of Government Efficiency.

  • Feb 11, 2025

Fed's Williams says monetary policy is in right place to achieve Fed goals

Federal Reserve Bank of New York President John Williams said Tuesday the current level of short-term interest rates should help get inflation back to the central bank's 2% target, in comments that offered no guidance about the prospect for more rate cuts. “Monetary policy is well positioned to achieve maximum employment and price stability," Williams said in the text of remarks to be delivered before a gathering at Pace University in New York City. "The modestly restrictive stance of policy should support the return to 2 percent inflation while sustaining solid economic growth and labor market conditions,” he said, adding "it’s important to note that the economic outlook remains highly uncertain, particularly around potential fiscal, trade, immigration, and regulatory policies,” the official said.

  • Feb 11, 2025

SEC requests a pause in legal battle with Binance as the agency adapts a crypto-friendly stance

The U.S. Securities and Exchange Commission is seeking to pause its high-profile lawsuit against the cryptocurrency exchange Binance as the regulator tries to present itself as more crypto-friendly under a new administration. Binance and the SEC filed a joint motion Monday asking for a 60-day stay in a lawsuit the regulator filed with significant fanfare two years ago under its previous chairman, Gary Gensler. Monday’s filing in the U.S. District Court for the District of Columbia said the SEC approached Binance asking for the pause.

  • Feb 11, 2025

Crypto Custody Firm BitGo Said to Weigh IPO as Soon as This Year

(Bloomberg) -- BitGo Inc. is considering an initial public offering, according to people familiar with the matter, joining a flood of crypto companies anticipating more support for their plans from regulators.Most Read from BloombergSaudi Arabia’s Neom Signs $5 Billion Deal for AI Data CenterNice Airport, If You Can Get to It: No Subway, No Highway, No BridgeSin puente y sin metro: el nuevo aeropuerto de Lima es una debacleThe Forgotten French Architect Who Rebuilt MarseilleIn New Orleans, an Ag

  • Feb 11, 2025

Why Is Acushnet (GOLF) Stock Rocketing Higher Today

Shares of golf equipment and apparel company Acushnet (NYSE:GOLF) jumped 10% in the morning session after the S&P Dow Jones Indices announced that the company would be added to the S&P SmallCap 600 index before the opening of trading on Thursday, February 13, 2025. Being included in the index means that Acushnet will likely be held by many mutual funds and ETFs, which could potentially drive up demand for the stock.

  • Feb 11, 2025

Why Intel (INTC) Stock Is Trading Up Today

Shares of computer processor maker Intel (NASDAQ:INTC) jumped 8.7% in the morning session after Vice President JD Vance announced at the AI Action Summit in Paris that the US will provide regulatory measures to protect the country's artificial intelligence technologies from "theft and misuse."

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