CNBC’s Jim Cramer on Wednesday said the Federal Reserve may need to take drastic measures, which could be “fantastic” for your portfolio.Story Published at: March 15, 2023 at 11:00PM
As bank crisis spreads, Cramer says the Fed may need to take drastic measures
Google ends enterprise sales of Google Glass, its augmented reality smartglasses
It’s the end of the line for Google Glass, one of the first — and most-recognized — smart glasses products from a big tech company.Story Published at: March 15, 2023 at 10:48PM
Goldman Sachs cuts GDP forecast because of stress on small banks, which are key to U.S. economy
Goldman on Wednesday lowered its 2023 economic growth forecast, citing a pullback in lending from small- and medium-sized banks.Story Published at: March 15, 2023 at 05:15PM
Apple supplier Foxconn expects decline in consumer electronics demand, prioritizes global growth
Foxconn, a major iPhone supplier and Apple vendor, warned that it expected a decline in consumer electronics demand in the coming year.Story Published at: March 15, 2023 at 02:45PM
Samsung to spend $228 billion on the world’s largest chip facility as part of South Korea tech plan
Samsung Electronics said Wednesday it plans to invest 300 trillion Korean won ($228 billion) in a new semiconductor complex in South Korea.Story Published at: March 15, 2023 at 01:16PM
UK will not enter a recession this year, Finance Minister Jeremy Hunt says in budget speech
U.K. Finance Minister Jeremy Hunt said Wednesday that the economy would no longer enter a technical recession in 2023, based on new forecasts from the independent Office for Budget Responsibility.Story Published at: March 15, 2023 at 01:18PM
Russia’s oil revenues fall sharply as the West’s price cap starts to bite, IEA says
The IEA said Russia’s estimated oil export revenues fell to $11.6 billion last month, down $2.7 billion from January when volumes were significantly higher.Story Published at: March 15, 2023 at 11:44AM
Bitcoin is already up 50% this year — beating stocks and gold
On Jan. 1, bitcoin began trading at just over $16,500. On Wednesday, it was hovering around the $25,000 mark, thanks to a rally that began on Sunday.Story Published at: March 15, 2023 at 10:36AM
Credit Suisse shares slide 20% after Saudi backer rules out further assistance
Shares of embattled bank Credit Suisse hit another all-time low for a second consecutive day as the bank’s biggest backer says it can’t provide more financial help.Story Published at: March 15, 2023 at 10:29AM
Silicon Valley Bank collapse throws up uncertainty for a European Central Bank hoping to hike rates
European markets closed sharply lower Monday amid the fallout from the SVB crisis. Story Published at: March 15, 2023 at 09:21AM