Wednesday, January 19, 2022
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TikTok owner ByteDance dissolves its investment arm

TikTok logos are seen on smartphones in front of a displayed ByteDance logo in this illustration taken November 27, 2019.Dado Ruvic | ReutersBEIJING — TikTok owner ByteDance has disbanded its investment department, a company spokesperson told CNBC on Wednesday.Following an assessment at the beginning of the year, ByteDance decided

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SoFi stock soars after clearing final regulatory hurdle to become a bank

Anthony Noto CEO of SoFi at the newly named SoFi Stadium under construction in Los Angeles.Stephen Desaulniers | CNBCShares of SoFi rallied as more than 16% in after-hours trading on Tuesday following news that the fintech cleared its final regulatory hurdle in becoming a bank.San Francisco-based SoFi received approval

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Stock futures are flat after sell-off on Wall Street, more bank earnings ahead

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 10, 2022.Brendan McDermid | ReutersU.S. stock futures were steady in overnight trading on Tuesday following a sell-off on Wall Street triggered by surging bond yields.Dow futures rose just 30 points. S&P

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Mastercard strikes NFT payments deal with Coinbase amid a wave of recent crypto partnerships

A 3D printed Mastercard logo is seen in front of displayed stock graph in this illustration taken September 20, 2021.Dado Ruvic | ReutersMastercard said Tuesday it inked a deal with Coinbase, the latest in a recent flurry of partnerships between payment and cryptocurrency giants.As part of the agreement, Coinbase

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UK launches crackdown on ‘misleading’ cryptocurrency ads

The crypto ecosystem has expanded significantly in recent years. While institutions such as the IMF are starting to embrace its innovation, they are also calling for investors to exercise caution.Jakub Porzycki | NurPhoto via Getty ImagesLONDON — The U.K. government says it will bring cryptocurrency ads under tighter scrutiny

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Stocks making the biggest moves premarket: Alibaba, Citrix, 23andMe and others

Check out the companies making headlines before the bell:Alibaba (BABA) – Alibaba fell 3.8% in the premarket after a Reuters report said the Biden administration was reviewing the China-based company's cloud unit to see if it poses a risk to US national security. The probe is said to focus

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China’s digital yuan notches $8.3 billion in transactions in 6 months, taking a tiny share of payments

A sign for China's digital currency, the electronic Chinese yuan (e-CNY) is displayed at a shopping mall in Shanghai on March 8, 2021.STR | AFP | Getty ImagesBEIJING — In a country where consumer payments are measured in the trillions, China's digital yuan has made little headway, according to

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U.S. stock futures are little changed ahead of more earnings reports

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, January 12, 2022.Brendan McDermid | ReutersU.S. stock futures were little changed Monday night as traders braced for the latest batch of corporate earnings reports.Futures tied to the Dow Jones Industrial Average ticked higher by

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Billionaire investor Chamath Palihapitiya says ‘nobody cares’ about Uyghur genocide in China

Venture capitalist Chamath Palihapitiya.Mark Kauzlarich/Bloomberg via Getty ImagesWASHINGTON – Billionaire investor Chamath Palihapitiya triggered a backlash on social media after saying during a recent episode of his podcast that "nobody cares" about the ongoing human rights abuses against the Uyghurs in China.During a 90-minute episode, Palihapitiya told co-host Jason Calacanis

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China’s economy grew 8.1% in 2021 compared to a year ago

Volunteers wearing personal protective equipment (PPE) arrange food deliveries on Nov. 26, 2021, for a Shanghai residential area that's under restrictions to halt the spread of Covid-19.Yin Liqin | China News Service | Getty ImagesBEIJING — China's economy grew by 8.1% in 2021, and industrial production rose steadily through

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