Author: Journalist

NEW YORK: Global stocks finished mixed on Friday (May 30) after President Donald Trump put US-China trade tensions back on the boil by claiming Beijing had “totally violated” an agreement with Washington. His social media post came hours after US Treasury Secretary Scott Bessent said trade talks with China aimed at putting to bed sky-high mutual tariffs, currently suspended, were “a bit stalled”. The development risks renewed trade tensions between the world’s two biggest economies. On Wall Street, the Dow Jones Industrial Average closed higher, while the S&P 500 index was flat, and the tech-focused Nasdaq Composite fell 0.3 per…

Nvidia (NVDA) and other semiconductor stocks slid Friday amid worries about worsening U.S.-China trade tensions. Shares of Nvidia were down nearly 4% in recent trading. Advanced Micro Devices (AMD), Broadcom (AVGO), Micron Technology (MU), and Applied Materials (AMAT) also lost ground, with the PHLX Semiconductor Index (SOX) dropping about 3%.  Some of Nvidia’s partners, including server maker Super Micro Computer (SMCI), saw their stocks fall as well. (Read Investopedia’s full coverage of today’s trading here.) President Trump on Friday said China has “totally violated its agreement with us,” dampening hopes the countries would soon come to a longer-term agreement after…

The Chinese government has announced a sweeping new ban that prohibits not just trading or mining of cryptocurrencies, but now extends to individual ownership of digital assets like Bitcoin, according to a report by Binance, a cryptocurrency exchange. This latest action marks a significant escalation in China’s historically hardline approach to crypto, reaffirming its commitment to centralising financial control and promoting the use of its state-backed digital yuan. The announcement sent immediate ripples across the global cryptocurrency markets. Bitcoin saw a sharp dip following the news, while altcoins—especially those sensitive to regulatory shifts—exhibited even greater volatility. However, market analysts believe…

Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell on May 30, 2025, in New York City. Angela Weiss | AFP | Getty ImagesThe S&P 500 was little changed on Friday to close out a big winning month, as investors shook off trade war fears after President Donald Trump said China violated its preliminary trade agreement.The broad index inched down by 0.01% to end at 5,911.69. The Nasdaq Composite slid 0.32% to 19,113.77, while the Dow Jones Industrial Average added 54.34 points, or 0.13%, to finish at 42,270.07.Friday’s trading session marked the end…

A general view of the GameStop logo on one of its stores in the city center of Cologne, Germany.Ying Tang | Nurphoto | Getty ImagesGameStop said Wednesday it has officially bought 4,710 bitcoins, worth more than half a billion dollars, as the video game retailer began its crypto purchasing plan in a similar move made famous by MicroStrategy.The purchase, its first investment in bitcoin, was worth $512.6 million with bitcoin’s price of $108,837 on Wednesday. The world’s largest cryptocurrency has been on a tear lately, hitting a record high near $112,000 last week, as easing trade tensions and the Moody’s downgrade of U.S.…

White House AI and crypto czar David Sacks says the US could buy more Bitcoin if the government can fund the purchase in a “budget-neutral” way without a tax or adding to the growing national debt.Sacks told Gemini co-founders Cameron and Tyler Winklevoss during a May 27 fireside chat at the Bitcoin 2025 conference that while he “can’t promise anything,” a pathway does exist for the government to buy more Bitcoin (BTC).However, it would require convincing Commerce Secretary Howard Lutnick or Treasury Secretary Scott Besson to OK the buy and fund it “without a new tax or adding to the…

PDD Holdings, the Chinese owner of online shopping platform Temu, has reported a near 50% drop in profit as US President Donald Trump’s trade policies added to its struggles in its home country.US-listed shares of the e-commerce giant fell by more than 13% on Tuesday, after the firm said its profits for the first three months of the year fell to 14.74bn yuan ($2.05bn , £1.5bn).Earlier this month, the Trump administration ended the so-called “de minimis” exemption that allowed parcels worth less than $800 (£593) enter the US without being hit with import duties.In China, PDD has been locked in…

A second suspect has been arrested for allegedly kidnapping and torturing an Italian tourist in an upmarket Manhattan home for weeks in an effort to steal his cryptocurrency.William Duplessie, 32, turned himself in to authorities on Tuesday after his alleged accomplice was arrested last week.Their alleged victim told police he was hung off a roof ledge, shocked with electrical wires and attacked with a chainsaw as his attackers demanded he reveal his Bitcoin wallet password.Both suspects are charged with kidnapping with intent to collect ransom, assault, unlawful imprisonment and other crimes.The arrests came after the victim managed to escape a…

Tue 27 May 2025 ▪ 3 min read ▪ by Ariela R. The crypto giant Binance has just launched a disruptive feature on its platform: Live Trading. This innovation allows users to trade in real time during a live broadcast. It thus combines learning, interaction, and cryptocurrency investment on a single interface. We’ll tell you all about it in the following paragraphs! In Brief Binance revolutionizes crypto with Live Trading. Creators and traders connect strategy and action, turning every live into an investment opportunity. A Turning Point for Crypto Streaming and Trading With Binance Square, the exchange aims to reinvent…

EU banking supervisor The European Banking Authority (EBA) announced the release of new proposed amendments to Pillar 3 disclosure requirements for banks, including simplifications and clarifications around ESG risk-related reporting, particularly for small and medium-sized banks. The EBA said that its new proposals align with the initiatives of the European Commission to simplify sustainability reporting, such as the Commission’s Omnibus package. The EBA said: “In line with the European Commission’s omnibus proposal to reduce reporting costs and simplify sustainability reporting, the EBA has designed a proportionate approach for ESG disclosures based on the institution’s type, size and complexity, with simplified…