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☆ Russia's not just seeing an exodus of people — it saw a record $239 billion worth of assets being pulled out last year
▼ + stars: | 2023-07-25 | by ( Huileng Tan | Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

Russia saw an record $239 billion in net capital outflows — i.e. According to Investopedia, capital outflows refer to the movement of assets out of a country. Outflows this significant are even larger than Greece's GDP of $219 billion in 2022, according to World Bank data. Last year's capital outflows were four times that of 2021 and 70% more than in 2008 amid the Global Financial Crisis, according to the analysis. Money transfers from Russia to Georgia rose fivefold, from $411 million in 2021 to $2.1 billion in 2022, according to data from Georgia's central bank.

Persons: It's, it's, Martin Galstyan, Armenia's News.am, Timothy Ash Organizations: —, Service, outflows, Center, Bank, Bloomberg, Novaya Gazeta, Chatham House's Locations: Russia, Wall, Silicon, Ukraine, Moscow, Investopedia, outflows, Armenia, Georgia, Chatham House's Russia, Eurasia

☆ Biotech’s doldrums are a warning amid exuberance
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

The sector’s doldrums are a warning sign, despite the broader market shrugging off recession concerns. In 2000, the index peaked weeks before the S&P 500 Index (.SPX) and hit bottom three months earlier. In the 2009 financial crisis, the biotech index peaked later, but both emerged at about the same time. Yet biotech stocks have been lackluster since. Since January, the index is down 2%, while the S&P 500 Index is up 19% and the Nasdaq Composite Index is up 35%.

Persons: Robert Cyran, Jonathan Guilford, Sharon Lam Organizations: YORK, Reuters, Biotechnology, Nasdaq Biotechnology, Nasdaq, Twitter, Thales, Thomson Locations: Spain

☆ Bank of America says Europe's oil majors ‘are close to bottoming out' — and names its top pick ahead of earnings
▼ + stars: | 2023-07-24 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Bank of America believes Europe's oil majors are about to hit an inflection point. This trend reflects investor anticipation for a long-awaited turn in earnings momentum, according to analysts at Bank of America. It named Shell as its "Big Oil top pick." The below table shows European Big Oil companies, the earnings release dates, and Bank of America's 12-month price target and upside potential. Shell As its top pick, Bank of America expects Shell to report strong second-quarter earnings and cash flows.

Persons: Christopher Kuplent, Shell, BofA, TotalEnergies Organizations: of America, Big, Bank of America, Shell, Oil, Big Oil, Bank of America's, BP, outflows, TotalEnergies Bank of America Locations: London , New York, Amsterdam, London, New York, Paris, Norwegian, Oslo

☆ Inside the private-equity recruiting tornado that just hit — and why it may be turning some young bankers away from a career on the buyside
▼ + stars: | 2023-07-24 | by ( Emmalyse Brownstein | Reed Alexander | ) www.businessinsider.com time to read: +8 min

Private-equity recruiting for 2025 roles officially kicked off Friday, including at Apollo and TPG. Many of those bankers had barely started their current investment-banking jobs, and others were still in training sessions for them. As always, the firms were recruiting first-year investment banking analysts for jobs that won't start until 2025. Midnight interviews are not uncommon in private-equity recruiting, nor are "exploding offers," which demand that candidates make a decision before leaving the interview room to prevent them from shopping around. $300,000 offersOver the years, on-cycle recruiting has crept up on candidates earlier and earlier.

Persons: I'm, It's, Carlyle, Warburg Pincus, —, webinar, headhunting, Brian O'Callghan, O'Callaghan Organizations: Apollo, TPG, nab, General Atlantic, KKR, Permira, TPG Capital, Labor Locations: York

Adonis: AI revenue collection for healthcare providersBen Ling, the founder and a general partner at Bling Capital. Bling CapitalStartup: AdonisRecommended by: Ben Ling, Bling CapitalRelationship: InvestorTotal funding: $22.9 million, according to PitchBook. What it does: Adonis uses AI to automate and create intelligent revenue-collection software between healthcare providers such as doctors, hospitals, and insurance companies. "They are trending to significantly exceed revenue expectations in 2023 and is considered one of the fastest growing healthcare software companies in the United States. As a result, Adonis is overseeing the processing of billions of dollars of claims and impacting revenue outcomes for thousands of the nation's providers," Ling said.

Persons: Adonis, Ben Ling, Ling Organizations: Bling Locations: United States

Companies AMC Entertainment Holdings Inc FollowJuly 23 (Reuters) - AMC Entertainment's (AMC.N) chief executive officer on Sunday said the company filed a revised petition for a stock conversion plan that would allow the company to issue more shares. Aaron also mentioned that in a March 14 special election a majority of the AMC common shareholders and preferred shareholders supported his views on the stock conversion. Delaware Vice Chancellor Morgan Zurn on Friday denied approval as the deal would also settle potential claims by preferred shareholders who were not represented in the lawsuit. The company was sued in February for allegedly rigging a shareholder vote that would allow AMC to convert preferred stock to common stock and issue hundreds of millions of new shares. The settlement's backers want Zurn to weigh the new version of the deal without seeking additional comment from AMC shareholders, according to a Bloomberg news report.

Persons: Adam Aaron, Aaron, Chancellor Morgan Zurn, Shubhendu Deshmukh, Chris Reese Organizations: AMC Entertainment Holdings, AMC, Sunday, Delaware Court, Delaware, Bloomberg, Thomson Locations: Delaware, Bengaluru

☆ Top Wall Street analysts see solid potential in these five stocks
▼ + stars: | 2023-07-23 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

Bachman reiterated a buy rating on Salesforce and raised his price target to $255 from $245. DellPersonal computer makers, including Dell (DELL), have been facing significant headwinds, as the demand for desktops and laptops plunged following a pandemic-driven rush. Ho raised the price target on DELL to $60 from $48 and reiterated a buy rating. In line with his bullish stance, Rakesh increased his price target for RIVN to $30 from $27 and maintained a buy rating. Rakesh raised his price target for MBLY to $48 from $43 and reiterated a buy rating on the stock.

Persons: Mike Blake, Keith Bachman, Salesforce, Bachman, Sidney Ho, Ho, Rivian, Vijay Rakesh, Rakesh, Mobileye, bode Organizations: Reuters, BMO Capital, Service, Dell, Deutsche Bank, Solutions, Gartner, DELL, Mobileye, EV, Geely Automobile, Porsche, Volkswagen Locations: San Diego , U.S, 2H23E, Israel

☆ ChatGPT helped a simulated study return up to 512% trading stocks based on news. Here's the prompt the researchers used — plus the positive and negative takeaways from their findings.
▼ + stars: | 2023-07-22 | by ( Laila Maidan | ) www.businessinsider.com time to read: +12 min

ChatGPT excelled at predicting a stock's price direction based on news sentiment. They found that while ChatGPT excelled at predicting a stock's direction based on news sentiment, it is not without limitations. They prompted ChatGPT to assign the following scores to headlines: "1" for good news, "0" for unknown and "-1" for bad news. Is this headline good or bad for the stock price of (company name) in the term (short or long-term)?" This meant negative news had a greater and longer impact in the real world than in the simulation,, likely giving ChatGPT an advantage, Lopez-Lira noted.

Persons: ChatGPT, Bard, Alejandro Lopez, Yuehua Tang, Merrill Lynch, Lopez, Lira, Tang, Russell, BERT, Philip Morris, Gene Tipps, David Capablanca, Alpesh Patel, Praefinium, Patel, Capablanca, GPT's, it's, Cory Mitchell, would've, Mitchell, you'll, they're Organizations: University of Florida, of Florida's Department, Finance, Lira, Center for Research, Linux, NYSE, Nasdaq, GPT, Design, Cadence Design, Philip Morris Beats, Global, Global Operations, Dow Locations: GPT

☆ Huntington Bancshares beats Q2 profit estimates on interest income strength
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

July 21 (Reuters) - Huntington Bancshares (HBAN.O) beat Wall Street estimates for second-quarter profit on Friday, as it earned more from rising interest rates and saw strong demand for its commercial loans. "There is increasing optimism around a very modest slowdown, (or) recession," the bank's CEO Stephen Steinour said, citing stimulus spending from the government. "The interest rate outlook has continued to change," said Steinour, adding there are expectations that rates will remain higher for a longer period. Huntington earned $0.35 per share in the second quarter versus analysts' average estimate of $0.34 per share, according to Refinitiv IBES data. Total deposits at Huntington were $148 billion, up nearly 2% from the first quarter.

Persons: Huntington, Stephen Steinour, NII, Niket, Saeed Azhar, Shweta Agarwal, Deepa Babington Organizations: U.S . Federal Reserve, Comerica, Fifth Third Bancorp, Thomson Locations: U.S, Columbus , Ohio, Huntington, Bengaluru, New York

☆ Foreign investment is ramping up amid the reshoring boom. Here are UBS’s top under-the-radar plays
▼ + stars: | 2023-07-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Foreign direct investment is also picking up. That investment is on top of the reshoring boom that is already underway , as U.S. companies return operations back home, partly to ensure the safety of supply chains. More than 101,000 jobs were created by reshoring and foreign direct investment in the first quarter alone, up 11% year over year, according to the Reshoring Initiative . While Eaton is Snyder's top pick on the reshoring theme, he highlighted several other underappreciated names that stand to gain as well. Overall, auto reshoring announcements grew 30% in the second half of 2022 from the year prior, according to UBS.

Persons: Chris Snyder, UBS's Snyder, he's, Snyder, Eaton, Dave Regnery, Regnery, — CNBC's Michael Bloom Organizations: World Trade Organization, UBS, Reshoring, Keysight Technologies, U.S, Trane Technologies Locations: U.S, United States, China, reshoring, Taiwan, Asia

"I am worried because we are in a deep real estate crisis. And the real estate crisis needs clear, structured and downright radical steps to fix it," Mattner said. For years, Germany's property market has been seen as a safe haven, becoming a major draw for foreign investors. Recent data shows the stress the property sector is facing as the European Central Bank hikes interest rates, with little respite in sight. The fall is "catastrophic," said Andreas Beulich, head of the Federal Association of Independent Real Estate and Housing Companies.

Persons: Kai Pfaffenbach, Chancellor Olaf Scholz, Andreas Mattner, Mattner, Tim, Oliver Mueller, Mueller, Scholz, Danyal, Andreas Beulich, Mathias Duesterdick, ”, Andreas Naujoks, Simone Zapke, Emma, Victoria Farr, Matthias Inverardi, Sharon Singleton Organizations: REUTERS, German Property Federation, German Construction Industry Federation, Reuters Graphics, European Central Bank, Federal Association of Independent, Housing Companies, Centrum Group, ECB, Thomson Locations: Frankfurt, Germany, Germany's, Europe's, Kai Pfaffenbach FRANKFURT, Baden, United States, Sweden

Prices of iron ore, from which Rio Tinto derives around 70% of its profits, eased over the second quarter on concerns over China's debt-ridden property sector, but could improve after Beijing on Tuesday pledged to roll out policies to boost growth. "China's economic recovery has fallen short of initial market expectations, as the property market downturn continues to weigh on the economy and consumers remain cautious despite monetary policy easing," Rio Tinto said in its quarterly report. Rio Q2 Shipments easeRio downgraded its expectations for refined copper production, alumina production, and output at its Canadian iron ore operations and warned of rising costs. "Production downgrades during the quarter highlight that we still have much more to do," Rio Tinto Chief Executive Jakob Stausholm said in the report. Wildfires in Northern Quebec impacted Canadian iron ore production, it said.

Persons: Rio, Glyn Lawcock, Jakob Stausholm, Melanie Burton, Navya Mittal, Rishav Chatterjee, Shounak Dasgupta, Sonali Paul Organizations: Rio Tinto, Alpha, Tinto Chief, Thomson Locations: MELBOURNE, Rio, Beijing, Barrenjoey, Sydney, Utah, Northern Quebec, Rincon, Argentina, Melbourne, Bengaluru

☆ Kinder Morgan second-quarter revenue misses on lower prices
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +1 min

Companies Kinder Morgan Inc FollowJuly 19 (Reuters) - Pipeline and terminal operator Kinder Morgan (KMI.N) on Wednesday posted lower-than-expected second-quarter revenue, hurt by lower commodity prices. Kinder Morgan faced lower commodity prices, higher interest expense in the second quarter as well as higher sustaining capital expenditures versus the prior year period, President Kim Dang said. The Houston-based company said earnings from its products pipelines fell about 4.3% to $286 million, while earnings from the transportation of CO2 fell about 17.4% to $175 million, due to lower realized prices. Kinder Morgan's revenue fell about 32% to $3.50 billion in the quarter, and missed estimates of $4.55 billion, according to Refinitiv data. Reporting by Tanay Dhumal in Bengaluru; Editing by Vinay Dwivedi and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Kinder Morgan, Kim Dang, Tanay, Vinay Dwivedi, Shounak Organizations: Kinder Morgan Inc, Kinder, Thomson Locations: China, Houston, Bengaluru

☆ De-dollarization risks aren't priced in despite rising US dysfunction and tension with China, JPMorgan says
▼ + stars: | 2023-07-19 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

De-dollarization risks aren't priced in despite rising US dysfunction and tension with China, JPMorgan said. Investors should go underweight on the dollar, as well as US markets, bonds, and financial equities, analysts said. But that also points to the risks that are not yet reflected in financial markets. Meanwhile, economic and political instability within the US will also factor into the credibility of the dollar, JPMorgan added. While "rapid and deep" de-dollarization is unlikely in the next decade, investors should expect partial de-dollarization, with the yuan rising among Chinese partners, strategists predicted.

Organizations: JPMorgan, Service, CBO Locations: China, Wall, Silicon, Beijing, Washington

☆ Premarket stocks: Bank CEOs are already complaining about new regulations they haven't even seen yet
▼ + stars: | 2023-07-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Investors, worried about the economic atmosphere and the recent regional banking collapse, breathed a sigh of relief at the results. Jamie Dimon, head of JPMorgan Chase, commented on the bank’s Friday earnings call that non-bank financial rivals were “dancing in the streets” as regulators get ready to increase bank capital requirements. “This is great news for hedge funds, private equity, private credit, Apollo, Blackstone,” Dimon said of the proposed regulations. The change, they say, will increase the financial system’s resilience following the failures of three regional banks earlier this year. “The capital in the industry is sufficient,” said Bank of America CEO Brian Moynihan on his company’s earnings call Tuesday morning.

Persons: Jamie Dimon, JPMorgan Chase, ” Dimon, ”, Jeremy Barnum, Barnum, don’t, Brian Moynihan, “ They’ve, Morgan Stanley, James Gorman, Elizabeth Warren, Richard Blumenthal, Tammy Duckworth, Martin Gruenberg, “, Taylor Marr, That’s, they’re, Bryan Mena, Neil Saunders Organizations: CNN Business, Bell, New York CNN, Silicon Valley Bank, JPMorgan, Blackstone, of America, CNBC, Valley Bank, Signature Bank, Federal Deposit Insurance, Redfin, Retail, Commerce Department Locations: New York, Silicon, Basel, Massachusetts, Elizabeth Warren , Connecticut

☆ Tech giants are supposed to be spending less. Nvidia is selling boatloads of GPUs. Both things can't be happening at once.
▼ + stars: | 2023-07-19 | by ( Alistair Barr | ) www.businessinsider.com time to read: +3 min

Big tech companies have been trying to keep a lid on spending plans. 2023 was supposed to be the year of austerity for Big Tech. So how can these tech giants be keeping a lid on spending, while Nvidia sales are surging? And the expectation is that Big Tech is going back to splurging again. That will be driven by a 31% jump in technical infrastructure spending this year, and a 15% increase next year.

Persons: Mark Shmulik, Morgan Stanley, ROIC Organizations: Big, Nvidia, Morning, Big Tech, Google, Meta, Microsoft, Bernstein Research Locations: splurging

☆ World Bank chief Banga unveils new plans to boost lending 'firepower'
▼ + stars: | 2023-07-18 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

July 18 (Reuters) - World Bank President Ajay Banga unveiled new plans on Tuesday to stretch the bank's balance sheet and help countries tackle climate change and other challenges, but said a capital increase would still eventually be needed. The new steps, still being discussed with shareholder countries, come on top of initial steps approved in April that will boost World Bank lending by up to $50 billion over the next decade. "We are building a better bank, but eventually we will need a bigger bank." It proposes to absorb more risk and expand lending by widening conditions for callable capital - money pledged by governments but not currently "paid-in." And it plans to expand very low or zero-interest lending, including through a new $6 billion crisis facility set up for the poorest countries through the International Development Association.

Persons: Ajay Banga, Banga, David Malpass, Janet Yellen, Andrea Shalal, Sonali Paul Organizations: Mastercard, World Bank, Bank, Treasury, International Development Association, Thomson Locations: Banga, Gandhinagar, India, U.S

☆ US startups are having a bad year. Relief isn’t coming
▼ + stars: | 2023-07-18 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Across the country, in Silicon Valley, the situation isn’t quite as good. For decades Silicon Valley has been a dominant contributor to the US economy and an integral part of the country’s culture. Bankruptcy filings…less so.”Pitchbook and The National Venture Capital Association’s most recent report on the industry also takes a pessimistic view of the situation. What it means: While startups are certainly far from extinct, there has been a serious culling in Silicon Valley that will likely continue on for some time. Just 19% of venture capital deals were made with startups based in the Bay Area this year; that’s down from 22% in 2020.

Persons: haven’t, Tom Loverro, IVP, Pitchbook, ”, dealmakers, Goldman Sachs, Morgan Stanley, they’ll, they’re, Elizabeth Warren, Tesla, Elon Musk, Ramishah Maruf, Elon, “, ” Warren, funneling Tesla, Warren, Gary Gensler, Linda Yaccarino, Musk, CNN’s Justin Gamble, Bill Clinton, Jonah Bryson, “ We’ve, Michael D, Smith Organizations: CNN Business, Bell, New York CNN, Apple, Microsoft, Venture, National Venture Capital, Goldman, Center for Research, Bank, SEC, Twitter, Securities and Exchange, AmeriCorps, CNN Locations: New York, Silicon Valley, Silicon, Massachusetts, America

☆ Barbie is all the buzz this summer — and retailers hope it will make cautious consumers spend
▼ + stars: | 2023-07-18 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +7 min

Bloomingdale's is just one of the retailers and brands trying to tap into Barbie buzz. With a splash of hot pink, retailers hope to chase away the summer doldrums and inflation blues. About half of Aldo's Barbie collection sold out in the first week. So far, the Barbie merchandise is "selling incredibly well" and appealing to customers across generations, said Frank Berman, the department store's chief marketing officer. Gap has sold out of some of its popular Barbie items, including rectangular pink sunglasses.

Persons: Bloomingdale's, Barbie, Aldo, Brand, Daianara Grullon Amalfitano, Aldo's, Aldo Macy's, Frank Berman, Berman, it's, Ken, Circana, Margot Robbie's, Oliver Chen, Cowen, Chen, Susan Fournier, Barbie isn't, Fournier Organizations: Warner Bros, Mattel, Companies, NPD Group, IRI, Unit, Walmart, Target, Amazon Prime, Consumers, Adobe Analytics, Aqua Locations: Manhattan, Lexington Ave, U.S, Boston, New York City

☆ This Is the Best Debit Card for Teens That Doesn’t Charge a Monthly Fee
▼ + stars: | 2023-07-17 | by ( Kerri Anne Renzulli | ) www.wsj.com time to read: +6 min

Capital One’s debit card, available to kids ages eight and up, charges no monthly service or subscription fees; comes with no minimum balance requirements to open or maintain; and has no overdraft fees. Capital One Money Teen Checking Account Learn MoreWhat does the debit card offer? That’s a small sum, but more than most other free kid’s debit accounts offer. Parents who want to provide more of a guiding hand to their children would do better with a different card that boasts more comprehensive spending controls, such as those offered by our pick for Best Overall Debit Card for Kids, the Greenlight debit card, or our pick for Best Free Debit Card for Younger Kids, the Chase’s First Banking debit card. How we pickedTo pick Buy Side from WSJ’s Best Debit Cards for Kids, we looked at card options available to those under the age of 18, including prepaid debit cards, checking account-linked debit cards, secured credit cards and brokerage account-linked debit cards.

Persons: Kerri Anne Renzulli, they’ll, it’s Organizations: Capital, Teens, Best, Greenlight Locations: That’s

☆ India is on pace to pass the US on the list of the world's biggest economies — but there's a looming chance it squanders this promise
▼ + stars: | 2023-07-14 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

According to a recent Goldman report, India's economy is projected to top America's around 2075, becoming the second-largest in the world. India's economic growth is fueled by several key factors, including its vast labor force, technological advances, and burgeoning capital investment. A significant driver of this growth is innovation and technology, as noted by Goldman Sachs's chief India economist, Santanu Sengupta. The Goldman Sachs team noted that the biggest risk facing the country is if the labor force participation rate does not reverse its current 15-year downward trend. "If you have more opportunities — especially for women, because the women's labor force participation rate is significantly lower than men's — you can shore up your labor force participation rate, which can further increase your potential growth."

Persons: Goldman Sachs, Goldman, Zahra Tayeb, Goldman Sachs's, Santanu Sengupta, Sengupta, Tan, Elon Musk Organizations: Service, Apple, SpaceX, Goldman Locations: India, China, Wall, Silicon, India's, Mexico, Pacific

Federal banking regulators are expected to introduce proposals in the coming weeks requiring banks to keep more cash on hand to ensure the financial system remains stable. The nation's largest lender may increase prices or abandon some products as a way to offset the higher capital costs, Barnum said. One key new expected rule would require banks to hold more capital against certain trades. Meanwhile, banks are staying cautious and preserving capital until there is more clarity around the rules. Wells Fargo was expecting capital requirements to climb and weighing the potential effect on stock buybacks, CEO Charlie Scharf told investors on its call.

Persons: Michael Barr, Jeremy Barnum, Barnum, Jane Fraser, Wells Fargo, Charlie Scharf, Blackstone, Jamie Dimon, Pete Schroeder, Nupur Anand, Saeed Azhar, Tatiana Bautzer, Lananh Nguyen, Megan Davies, Susan Heavey Organizations: WASHINGTON, Federal, JPMorgan Chase's, JPMorgan, U.S, Treasury, Industry, Blackstone, Apollo, JPMorgan Chase, Thomson Locations: Washington, New York

☆ Wells Fargo follows a solid quarter, promising investors something many of them count on
▼ + stars: | 2023-07-14 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Don't let Friday's stock action fool you: Wells Fargo (WFC) had a very good quarter. Shares of Wells Fargo initially climbed more than 2% following the earnings release, before giving up some of those gains. Wells Fargo stock was trading up slightly and down slightly Friday afternoon. WFC YTD mountain Wells Fargo YTD performance Bottom line It was very good quarter for Wells Fargo as the better-than-expected headline results came on the back of a lower-than-expected efficiency ratio, and slightly higher-than-expected net interest margin (NIM). Charlie Scharf, CEO, Wells Fargo, speaks during the Milken Institute Global Conference in Beverly Hills, California on May 2, 2023. speaks during the Milken Institute Global Conference in Beverly Hills, California on May 2, 2023.

Persons: Wells, Wells Fargo, NIM, Morgan Stanley, Jim Cramer's, Jim Cramer, Jim, Charlie Scharf, Patrick T, Fallon Organizations: —, Refinitiv, Auto, CNBC, Milken Institute Global Conference, Afp, Getty Locations: Wells Fargo, Wells, Beverly Hills , California

☆ Coinbase shares surged on Ripple’s partial court victory this week. Why the decision matters for the crypto exchange
▼ + stars: | 2023-07-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Thursday's judgment was only a partial win for Ripple, but significant nonetheless for both the company and the wider crypto market. Coinbase shares rallied more than 24% the day of the ruling on optimism that it might prevail in its own battle with the SEC. Regulators in June sued Coinbase, alleging it was operating as a broker, an exchange and a clearinghouse for unregistered securities – and named 13 such securities. "In our view, [the] decision in the Ripple case helps tip the scale even more toward a favorable outcome for Coinbase." Needham has a buy rating on Coinbase and on Friday raised its price target to $120 from $70.

Persons: Coinbase, it's, Canaccord, Joseph Vafi, Vafi, Needham, John Todaro, Genuity, Raymond James, Berenberg, Cowen, Ramsey El Organizations: Labs, SEC, Regulators, Wedbush Securities, Berenberg, BTC, Coinbase, Barclays Locations: Coinbase

☆ Capital One Venture vs. Chase Sapphire Preferred: Which is right for you?
▼ + stars: | 2023-07-13 | by ( Ariana Arghandewal | ) edition.cnn.com time to read: +13 min

Here’s a look at the Capital One Venture vs. Chase Sapphire Preferred. Capital One Venture vs. Chase Sapphire PreferredFirst, let’s take a look at all the key details of these two cards side-by-side:Capital One Venture Rewards Credit Card Chase Sapphire Preferred Card Welcome bonus 75,000 bonus miles after spending $4,000 on the card in the first three months. The Capital One Venture and the Chase Sapphire Preferred are two popular rewards credit cards that offer a variety of benefits to cardholders. Getty ImagesThe Chase Sapphire Preferred has better travel and purchase protections than the Capital One Venture. Capital One Venture Rewards Credit Chase Sapphire Preferred Card Extended warranty Yes.

Persons: Chase, We’ll, you’re, Chase doesn’t, United MileagePlus, Wyndham Organizations: CNN, American Express, Chase, Capital, One Venture, Venture, Chase Sapphire Preferred, Chase Sapphire, Rewards, Hertz, Sapphire, TSA Precheck, Preferred, Rapid, Hyatt, Sapphire Preferred, Air France, KLM, Blue, Air Canada Aeroplan, British Airways Executive Club, Emirates Skywards, Singapore Airlines, Turkish Airlines Miles, Aeromexico Club Premier Air Canada Aeroplan Air France, British Airways Executive Club Cathay, Asia Miles Emirates, Etihad, Finnair, Qantas Frequent Flyer Singapore Airlines KrisFlyer TAP Air Portugal Turkish Airlines Miles, Smiles, Airlines Aer Lingus AerClub Air Canada Aeroplan Air France, KLM Flying Blue British Airways Executive Club Emirates, JetBlue, United, Virgin Atlantic Flying, Travel, Auto, Chase Capital Locations: Air, Hawaii, United, Iberia

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