One of Wall Street’s most famous proverbs of this bull market is backfiring. “Buy the dip,” or picking up a stock or the whole market when they sell off, isn’t working for the first time in 16 years, according to analysis from Morgan Stanley. The investment bank looked at the average return for the S&P...
Comcast Ventures had seen enough. Years of researching business models, seeing their portfolio’s performance and watching digital media startups struggle had made an impression. For 2018, the venture capital firm made a decision: unless it found an extraordinary idea or entrepreneur, it would no longer put seed money behind advertising-driven media companies. “Starting an ad-supported...
Amazon will soon have more than 50,000 jobs to fill. The company announced this month it will open two new headquarters, one in New York City, and the other in northern Virginia, and that the average salary will be more than $150,000. Wondering if you could be a contender? CNBC talked with former recruiters at...
The Securities and Exchange Commission announced its first civil penalties on Friday against crypto founders who failed to register new coin offerings, part of a bigger regulatory and legal crackdown aimed at abuses and outright fraud in the growing digital currency industry. The SEC said it settled separate cases with start-ups companies Airfox and Paragon,...
Wall Street’s best-known cryptocurrency bull just cut his bitcoin price target nearly in half. Tom Lee, co-founder of Fundstrat Global Advisors, lowered his year-end target to $15,000 from $25,000 — still well above where the cryptocurrency was trading on Friday. A key driver was bitcoin’s “break-even” point, the level at which mining costs match the...
Chipmaker Nvidia was a major beneficiary of the crypto-boom last year. But by now, the party is over and the hangover is starting to set in. In its disappointing earnings report Thursday, Nvidia executives outlined a drop in revenue for the current quarter based on lack of demand for its gaming cards. Cryptocurrency mining had...
President Cruises’ maiden ship sets new benchmarks in Vietnam’s most famous natural attraction Halong Bay is bracing itself for its biggest and most luxurious cruising vessel yet replete with 46 spacious cabins, an evening piano bar, spa, fine dining restaurant and two expansive sun decks. New luxury Vietnamese cruise operator Lion Asia will debut the...