Money

HSBC will move four of its most senior executives to Hong Kong later this year, as the London-based bank focuses more attention on fast-growing markets in Asia. CEO Noel Quinn said in an internal memo on Wednesday that Barry O’Byrne, head of global commercial banking, Greg Guyett, co-head of global banking and markets, and Nuno

Instagram is testing a feature that would let users decide if they want to hide likes on their own posts or posts from people they follow. The option will start with a small global test group on Wednesday. Instagrammers can also decide to keep the original experience, which includes visible likes. Instagram began testing the

Cryptocurrency exchange Coinbase Global is set to go public Wednesday at a valuation north of $90 billion, as the company takes advantage of surging demand (and prices) for bitcoin, ethereum and other digital currencies. Coinbase said that it was setting a reference price for its stock of $250 a share. The company is listing shares

Editor’s note: This story was originally published on May 16, 2013 and has been updated with Madoff’s death. Bernard Madoff once had billions of dollars, but in the last years of his life, he made $40 a month doing menial prison labor. The mastermind behind the largest Ponzi scheme in US history died at 82

Coinbase Global is going public through a direct listing Wednesday, becoming the first cryptocurrency exchange on the stock market. The timing isn’t coincidental: Bitcoin has doubled in value this year, surging to a record high above $62,000, as cryptocurrencies have become more widely embraced by mainstream investors. For those adverse to the volatility and risk

Cryptocurrency exchange Coinbase Global is set to go public Wednesday at a valuation of a whopping $65 billion, as the company takes advantage of surging demand (and prices) for bitcoin, ethereum and other digital currencies. Coinbase said that it was setting a reference price for its stock of $250 a share. The company is listing

Hundreds of prominent executives from high-profile companies, including Amazon, Google, BlackRock and Starbucks, signed a statement that opposes discriminatory legislation that makes voting harder. The statement, printed Wednesday in an advertisement in the New York Times, was organized by Ken Chenault and Ken Frazier, two of America’s most prominent Black corporate leaders. The statement called

“Insecure” star Jo-Issa Rae Diop, better known as Issa Rae, is a big believer in amplifying creative voices and paying her blessings forward. Less than a month after signing an eight-figure production deal with HBO’s parent company WarnerMedia, the 36-year-old actress and producer is partnering with PepsiCo’s bottled water brand LIFEWTR on its new “Life

One of France’s biggest export industries is facing a devastating blow after an unusually severe frost earlier this month damaged vineyards across the country, heaping pain on winemakers already reeling from the pandemic and US tariffs. The frost has affected 80% of vineyards in France’s primary wine growing areas, according to the European Committee of

Wall Street has been a bundle of nerves about potential spikes in inflation since Democrats passed $1.9 trillion in economic stimulus last month. And on Tuesday, some of the first signs of inflation came to pass. Consumer prices for March rose 2.6% compared to the same month last year. They were lifted in particular by

Economic turnaround hopes are strongly tied to the vaccine rollout around the globe — so a new concern over the Johnson & Johnson Covid-19 vaccine was just about the last thing the recovery needed. US regulators recommended pausing the use of J&J’s one-dose shot in the United States, and the company temporarily stopped usage of

For years, Wall Street turned up its nose at America’s bank stocks. Now, the sector is getting tons of love as investors eye the economic recovery, which is set to benefit big lenders. What’s happening: The KBW Bank Index has jumped almost 25% this year, while the broader S&P 500 has risen 10%. And analysts

Egyptian authorities have seized a massive cargo ship which blocked the Suez Canal for almost a week last month, amid a dispute over financial damages. An Egyptian court ordered the vessel’s Japanese owner, Shoei Kisen Kaisha, to pay $900 million in compensation as a result of losses inflicted when the Panamanian-flagged Ever Given prevented marine

Southeast Asia’s ride-hailing giant Grab is setting the stage for an eye-popping Wall Street debut. The Singapore-based startup announced Tuesday that it would merge with a special-purpose acquisition company, or SPAC, backed by Altimeter Capital in a deal that would pave the way for a New York listing and value Grab at about $39.6 billion.

The A-list of China’s tech industry was summoned before the country’s powerful regulators on Tuesday for a dressing down over antitrust behavior, just days after Alibaba was hit with a record $2.8 billion fine for acting like a monopoly. The State Administration for Market Regulation (SAMR), along with the Cyberspace Administration (CAC) and the State

It was after 10 p.m. Monday when officials leading President Joe Biden’s ambitious vaccine effort received some alarming news. The US Food and Drug Administration, in conjunction with the US Centers for Disease Control and Prevention, was preparing an announcement for the following morning. It concerned Johnson & Johnson’s coronavirus vaccine, whose manufacturing delays and