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Goldman Sachs is shrinking its SPAC business amid regulatory crackdown and market turmoil

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, May 9, 2022.Brendan McDermid | ReutersGoldman Sachs is scaling back its business in the once red-hot SPACs as blank-check deals got caught in a double whammy of regulatory crackdown and tough market environment."We are

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Stocks making the biggest moves midday: Palantir, Rivian, Uber and more

Peter Thiel, co-founder and chairman of Palantir Technologies Inc., pauses during a news conference in Tokyo, Japan, on Monday, Nov. 18, 2019.Kiyoshi Ota | Bloomberg | Getty ImagesCheck out the companies making headlines in midday trading Monday.Palantir – Shares of the software company dropped more than 18% after Palantir's

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Canara Bank probes fraud in unit after whistleblower complaint: Source

Indian state-owned lender is investigating fraud in its housing finance unit Can Fin Homes, after a whistleblower complaint highlighted irregularities in certain accounts, said a direct source. The whistleblower letter, sent at the end of December and also addressed to Reserve Bank of India and the National Housing Bank,

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Fed’s Neel Kashkari confident inflation can come down, but not without some pain

Neel KashkariAnjali Sundaram | CNBCMinneapolis Federal Reserve President Neel Kashkari said Monday he's confident inflation will come back to normal though it's taking longer than he expected.Acknowledging that he was on "team transitory" in believing that surging prices wouldn't last, he said persistent supply-demand imbalances have generated the highest

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A $3.5 billion bet on bitcoin becoming a ‘reserve currency’ for crypto is being put to the test

Pedestrians walk past a display of cryptocurrency Bitcoin on February 15, 2022 in Hong Kong, China.Anthony Kwan | Getty ImagesA multibillion-dollar bet that bitcoin can act as a "reserve currency" for the crypto economy is already being tested as UST, a controversial stablecoin, struggles to maintain its $1 peg.UST

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Stocks making the biggest moves in the premarket: Palantir, Rivian, Uber and more

Take a look at some of the biggest movers in the premarket:Palantir Technologies (PLTR) – The data analytics software company's shares plunged 15.1% in premarket trading after posting a mixed quarter. Palantir reported profit of 2 cents per share, compared to a 4 cents a share consensus estimate. Revenue

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UK economy ‘one of the most vulnerable’ in the world right now due to mortgage trends, strategist says

George Clerk | E+ | Getty ImagesThere's an economic idiosyncrasy in the U.K. that makes it "one of the most vulnerable countries in the world right now," according to an investment strategist.Mike Harris, the founder of Cribstone Strategic Macro, argues that a major problem for Britain is that its

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