Bitcoin may be on the skids, but blockchain technology is a huge opportunity for investors. Learn why corporations and entrepreneurs are embracing it.
On Wednesday, the Taiwan stock market posted its biggest gain in 17 years after China Mobile (NYSE:CHL) bought 12% of Taiwanese telecom Far EasTone. The deal was worth $529 million, but the ramifications are much bigger.
We’ve reached the stage of this rally where bad is good. It started innocently enough in early March when Citigroup (NYSE:C) shocked the world by saying it was making money. A few earnings surprises have helped it along. But now, good news is running out, and to fill the void, investors are saying that bad news is actually good.
I figured Citigroup (NYSE:C) would be asked to raise more cash to insulate it against further losses. But when I read that the Treasury will raise reserve requirements for all 19 banks subjected to the Treasury’s "stress tests," it suddenly made sense.
Somebody’s lying. Bank of America CEO Ken Lewis is on the verge of getting sacked because he failed to tell BAC shareholders that he was buying Merrill Lynch for $29 billion while it was losing $15 billion in the fourth quarter of 2008. The revelation that Merrill paid out $3.6 billion in bonuses during that miserable quarter really got shareholders upset.