Latest Currency markets News

Binance mishandled funds and violated securities laws, according to SEC lawsuit

Jun. 05, 2023 13:11 PM EDT

WASHINGTON (AP) — The world's largest cryptocurrency exchange Binance and its founder Changpeng Zhao are accused of misusing investor funds, operating as an unregistered exchange and violating a slew of U.S. securities laws in a lawsuit filed by the SEC. Filed in the U.S. District...

Hamilton Lane: Fiscal Q4 Earnings Snapshot

May. 25, 2023 07:29 AM EDT

CONSHOHOCKEN, Pa. (AP) — CONSHOHOCKEN, Pa. (AP) — Hamilton Lane Inc. (HLNE) on Thursday reported fiscal fourth-quarter profit of $31.1 million. On a per-share basis, the Conshohocken, Pennsylvania-based company said it had profit of 82 cents. Earnings, adjusted for non-recurring...

Meta sells Giphy for $53M to Shutterstock after UK blocked GIF platform purchase

May. 23, 2023 12:53 PM EDT

WASHINGTON (AP) — Shutterstock said Tuesday it’s buying Giphy from Meta Platforms for $53 million, the final step to unwind the deal blocked by British regulators, who prevented the Facebook owner from purchasing the GIF-sharing platform over competition concerns. The stock image...

Street traders offer a better bargain than stores as Zimbabwe's currency crumbles

May. 23, 2023 03:08 AM EDT

HARARE, Zimbabwe (AP) — Festus Nyoni picked out a few items in a supermarket in Zimbabwe’s capital, looked at the prices and knew she was in the wrong place. She abandoned her shopping cart and headed for a nearby street jammed with traders offering bargains in U.S. dollars. From...

Argentina introduces larger bank note amid galloping inflation

May. 22, 2023 18:34 PM EDT

BUENOS AIRES, Argentina (AP) — Argentina has put a new 2,000-peso bill into circulation as the country endures one of the world’s highest inflation rates that has decimated the value of the local currency. The new bank note is worth double the previous highest bill in...

China's loans pushing world’s poorest countries to brink of collapse

May. 18, 2023 16:35 PM EDT

A dozen poor countries are facing economic instability and even collapse under the weight of hundreds of billions of dollars in foreign loans, much of them from the world’s biggest and most unforgiving government lender, China. An Associated Press analysis of a dozen countries most...

Seattle startup's ex-CFO accused of diverting $35 million, losing it in crypto crash

May. 17, 2023 21:44 PM EDT

SEATTLE (AP) — The former chief financial officer of a Seattle-based startup took $35 million of his employer's money without permission and lost it by investing in cryptocurrency before the crypto market crashed last year, according to a federal indictment returned by a grand jury Wednesday. ...

Home Depot sees first annual sales decline in more than a decade as housing streak ebbs, rates jump

May. 16, 2023 10:12 AM EDT

After years of explosive growth during the pandemic, Home Depot's revenue during the first quarter fell short of expectations and the company cut its profit and sales outlook for the year, sending shares lower at the opening bell. Home Depot on Tuesday projected its first decline in...

Beyond Meat revenue falls in first quarter due to weak demand, but company confident in turnaround

May. 10, 2023 18:44 PM EDT

Beyond Meat's first-quarter revenue fell nearly 16% due to lower demand for its plant-based burgers, sausages and other meats, but the company expressed optimism that new products and a summer marketing campaign will reinvigorate sales. “I think this is a business that’s turning...

Magnite: Q1 Earnings Snapshot

May. 10, 2023 17:08 PM EDT

NEW YORK (AP) — NEW YORK (AP) — Magnite, Inc. (MGNI) on Wednesday reported a loss of $98.7 million in its first quarter. The New York-based company said it had a loss of 73 cents per share. Earnings, adjusted for one-time gains and costs, came to 4 cents per share. ...