Saudi energy minister Abdulaziz bin Salman on Oct. 5, 2022.Bloomberg | Bloomberg | Getty ImagesThe prominent OPEC+ oil producers' alliance is awaiting concrete central bank action on interest rates before factoring in the potential impact on the energy demand landscape, according to Saudi Arabia's energy minister."Central banks, with all respect,...
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Bitcoin ETFs aren’t winning the hearts and minds of financial advisors
Omer Taha Cetin | Anadolu | Getty ImagesA major thesis around bitcoin ETFs was that financial advisors needed regulated funds like them to direct their wealthy clients to invest in bitcoin.Almost six months after the launch of those ETFs, there are few signs that advisors are clamoring for the funds. Many remain...
The SEC ruling on Ethereum ETFs could mark a historic shift in crypto investing
VanEck CEO Jan van Eck sees a major sentiment shift underway in the cryptocurrency market linked to the U.S. Securities and Exchange Commission's approval of a rule change allowing for Ethereum exchange-traded funds."This is really one of the most amazing things that I've seen in my career with respect to...
Shares of Cartier owner Richemont climb on record full-year sales, new CEO
Shoppers line up to enter a Cartier store on Canton Road in the Tsim Sha Tsui area of Hong Kong.Billy H.C. Kwok | Bloomberg | Getty ImagesShares of Swiss luxury group Richemont climbed as much as 6.3% Friday after the company reported record full-year sales, even as Asia-Pacific spending waned.The...
Nelson Peltz sells entire Disney stake weeks after losing proxy battle
Activist investor Nelson Peltz has sold his entire stake in Disney, a person familiar with the matter tells CNBC.Peltz sold all of his Disney stock at roughly $120 a share, the person said, making about $1 billion on the position. The stock currently trades for about $100 per share.The exit...