A former Goldman Sachs executive, Tim Leissner, was handed a two‐year prison sentence Thursday by a federal judge in New York for his central role in the sprawling 1Malaysia Development Berhad (1MDB) corruption scheme. The sentencing marks a high‐profile denouement for Leissner, who once oversaw Goldman’s Southeast Asia operations and admitted in 2018 to conspiring…
Coinbase, the leading U.S.-based cryptocurrency exchange, will officially join the S&P 500 Index on May 19, marking a watershed moment for companies centered on digital assets. The addition comes as Bitcoin recently surpassed the US$100,000 threshold and institutional interest in blockchain-backed assets reaches record highs. Replacing Discover Financial Services in the benchmark, Coinbase’s elevation underscores…
Wall Street strategists are voicing growing alarm over a provision in the ongoing U.S. budget bill that would impose a progressive tax of up to 20 percent on certain types of passive income earned by foreign investors. Introduced under Section 899 of the legislation, the levy targets dividends, royalties, and other passive receipts for entities—such…
When Nvidia unveiled its quarterly financial results this week, the broader semiconductor industry braced for impact. What followed was nothing short of a market maelstrom: chip stocks from Tokyo to San Jose surged, breathing new life into a sector long weighed down by geopolitical headwinds, overcapacity and wavering demand. At the heart of the rally…
Kohl’s Corporation defied market expectations by maintaining its full-year outlook even as escalating import duties and recent executive turbulence tested the retailer’s turnaround plan. In reporting first-quarter results that outpaced analyst forecasts, the midsize department-store operator highlighted robust initiatives in beauty, digital engagement and cost discipline—factors it says underpin its confidence in meeting annual targets…
Nvidia Corporation, the world’s leading maker of artificial intelligence (AI) chips, faces mounting risks in its China business even as it delivers record-breaking quarterly results. In its latest regulatory filing, the company for the first time flagged potential harm from U.S. curbs on Chinese open-source AI models and vehicle technologies, underscoring the stakes of escalating…
Dutch semiconductor equipment maker ASML, long regarded as a linchpin in the global chip supply chain, has seen its market value decline by roughly $130 billion since its peak just over a year ago. The steep contraction stems largely from tightening export controls on cutting-edge lithography machines destined for China, combined with uncertainty over U.S.…
GameStop’s bold entry into the cryptocurrency arena ignited a rally in its shares on Wednesday after the video game retailer announced the purchase of its first batch of Bitcoin, totaling 4,710 coins valued at approximately $512.6 million. The move represents a dramatic shift for the meme‐stock icon as it follows in the footsteps of fellow…
Xiaomi’s impressive 47 percent jump in first-quarter revenue has emerged as both a testament to its rapidly diversifying portfolio and a prelude to a transformational pivot toward electric vehicles (EVs). With quarterly sales swelling to ¥111.3 billion ($15.5 billion) and adjusted net profit exceeding ¥10 billion ($1.4 billion) for the first time, the Shenzhen-based electronics…
On Thursday, Sony will lay bare its latest blueprint for corporate evolution as it spins off its financial arm, marking another major milestone in a decade-long metamorphosis from a consumer-electronics stalwart into a global entertainment powerhouse. The Tokyo-based conglomerate—once synonymous with televisions, Walkmans and PlayStations—has over the past several years de-emphasized traditional hardware-centric lines in…
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