Billionaire hedge fund manager Bill Ackman made waves in the financial world when he unveiled a new stake in sports apparel company Nike on Wednesday. This move was revealed in a securities filing by Ackman’s Pershing Square Capital Management, showing ownership of more than 3 million shares of Nike at the end of June. The
Arkham Intelligence recently revealed that Coinbase, a well-known cryptocurrency exchange, holds an astonishing $52 billion worth of Bitcoin. This massive amount of Bitcoin makes Coinbase the top holder of BTC in the world, with over 4.3% of the total supply. The revelation has sparked curiosity and speculation among cryptocurrency enthusiasts about how Coinbase plans to
Alaska Airlines flight attendants have rejected a new labor deal that would have included significant raises of more than 24%. This decision was announced by their union, the Association of Flight Attendants-CWA, following a tentative agreement reached in June. The agreement included boarding pay, back pay, and average pay increases of about 32% over a
Starbucks recently announced their offer to incoming CEO and Chair Brian Niccol, who is leaving his position as chief executive at Chipotle Mexican Grill. The coffee chain aims to tackle their declining sales and overall performance under Niccol’s leadership, starting on September 9th. This new responsibility comes with a substantial increase in pay and one-time
The ongoing construction boom in the United States has had some unexpected positive effects on renters across the country. Since the start of the pandemic, there has been a surge in construction activity, resulting in a significant increase in the number of empty units available for rent. This surplus of inventory has forced landlords to
The municipal bond market experienced improvement on Wednesday as focus shifted towards the primary market activities. Noteworthy deals included Chicago pricing its delayed general obligation bond deal, along with offerings from the Triborough Bridge and Tunnel Authority, the Pennsylvania Turnpike Commission, and the Las Vegas Valley Water Department. This shift in attention resulted from the
In recent news, Prince George’s County Public Schools has announced a groundbreaking initiative to bring in over $660 million of taxable sustainable revenue bonds. These bonds are set to fast-track the construction of eight new schools through a public-private partnership, entering a market where taxable paper is in high demand. This innovative approach is expected
Oracle has been actively investing in infrastructure and forming strategic partnerships to strengthen its position in the competitive AI market. However, despite these efforts, there are concerns about the rich valuation of the company given the challenging landscape it operates in. Investors are increasingly wary of the risks associated with AI investments, such as revenue
The blockchain community has been abuzz with excitement following the launch of Polkadot 1.0 in July 2023. Now, with the impending release of Polkadot 2.0, the ecosystem is set to undergo a significant transformation. This new iteration is expected to bring about a host of technological advancements, including Async Backing, Elastic Scaling, and Agile Coretime.
The recent movements in Asian currencies have been influenced by various factors, including a weakening dollar and actions taken by central banks in the region. While most Asian currencies firmed up, the New Zealand dollar experienced steep losses following a surprise interest rate cut by the Reserve Bank of New Zealand. The decision to reduce