Mark Cuban, billionaire entrepreneur and owner of the NBA’s Dallas Mavericks, thinks that cryptocurrency is on the same downward trend that tech and internet companies hit in the early 2000s. Bitcoin hit a 10-month low on Monday, and sales of non-fungible tokens, aka NFTs, plummeted between January

Europe It’s been a sea of red for European markets today, with the consumer staples sector leading the fallers on the FTSE100. A lot of today’s pain is being felt by UK retailers after the downgrades this week by US retail giants Target and Walmart, while today US department store Kohl’s followed su

Europe Having seen some strong gains yesterday, we’ve slipped back on the back of a loss of momentum after Fed chair Jay Powell’s comments last night that the Federal Reserve is determined to regain the initiative when it comes to reining in inflation. A record high for UK inflation hasn’t helped th

European stocks closed lower on Wednesday, weighed down by concerns about soaring inflation and the likely impact on growth the aggressive policy tightening by central banks might cause in the near to medium term. After moving along the flat line till around noon, stocks began to slide and eventuall

The FTSE-100 benchmark of the London Stock Exchange operated within a tight band of around 25 points, as a flare-up in inflation to 9 percent, the highest level since 1982 fueled fears of a ferocious inflation combat. The harsh comments from the Fed on Tuesday also unnerved investor sentiment. Stron

Eyewatering inflation numbers for the UK: CPI hit 9%, the highest in 40 years, and a huge +2.5% month-on-month. RPI rose by 11.1%, also a four-decade high. Producer price inflation rose to 14% on the year to April 2022, up from 11.9% in March 2022. And the pipeline does not suggest pressures are abo

Summary Despite rising interest rates, high inflation and product shortages, retailers reported increased spending in April and upward revisions to the prior month, which suggests a better Q1 for consumer spending than first reported. Consumers increase spending in face of rising costs Amid the roll

Adam Weinberg is the president of Denison University in Granville, Ohio. The opinions expressed in this commentary are his own. High school students and their parents devote an extraordinary amount of time and energy to the college search process. But then an odd thing happens once a student is acce

European stocks rose sharply on hectic bargain hunting on Friday even as investors continued to weigh the possible impact of soaring inflation and rising interest rates on global economic growth. Fed Chairman Powell's comments that the central bank is likely to raise rates by 50 basis points in its

New York (CNN Business)Economists, CEOs, Wall Street and Main Street are sounding the recession alarm bell. Most agree a recession could start to take shape in the United States over the next few months. The question is what shape that recession will take. Recessions and recoveries come in shapes an

Europe Yesterday’s positive European session appears to have been a sucker's rally coming as it has between a big decline on Monday and another hefty decline today. Today’s weakness appears to have been prompted by the sudden reversal seen in US markets overnight. Today’s market price action has bee

U.K. stocks slumped on Thursday amid concerns that ongoing lockdowns in top consumer China and prospects of big U.S. rate hikes could hurt global economic growth. U.K. GDP advanced 0.8 percent sequentially in the first quarter, slower than the 1.3 percent increase in the fourth quarter and the econo

New York (CNN Business)The greatest quarterback in NFL history is going to try to become the greatest announcer in NFL history — once he finally retires, that is. Tom Brady, the seven-time Super Bowl champion for the New England Patriots and Tampa Bay Buccaneers, is heading to Fox Sports once his pl

San Francisco (CNN Busiiness)One of the video game industry's most iconic franchises will soon look very different. Electronic Arts and its subsidiary EA Sports will end a three-decade partnership with FIFA — global soccer's governing body — the gaming company announced on Tuesday. Starting next yea

(CNN)The Scout, a one-time competitor to Ford Broncos and Jeeps that was last sold more than four decades ago, is being resurrected by Volkswagen as a line of all-electric trucks and SUVs. Scout will become its own separate brand offering off-road-oriented electric trucks and SUVs in North America.