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The effort to launch Truth Social-branded cryptocurrency exchange-traded funds has come to an abrupt stop after Yorkville America Digital, LLC, which was the sponsor of the ETFs application, wrote to the US Securities and Exchange Commission (SEC) requesting the withdrawal of the application. Yorkville America Digital indicated that the decision was linked to a broader… Continue reading Truth Social crypto ETF plans collapse as Yorkville pulls SEC filings

HSBC Chief Executive Georges Elhedery said on Wednesday that artificial intelligence would both eliminate and create jobs across the financial industry, as the bank moves to retrain employees to adapt to the technology-driven shift. Speaking at an investor day event, Elhedery said staff must embrace AI-led transformation rather than resist it, adding that the bank… Continue reading HSBC retraining workforce as AI reshapes financial industry jobs

China confirmed it will buy 200 Boeing jets following the Trump-Xi meeting in Beijing, marking the US planemaker’s biggest breakthrough in the Chinese market in nearly a decade. Beijing’s Commerce Ministry confirmed on May 20 that China plans to buy 200 Boeing aircraft, including GE Aerospace-powered jets and related parts. For Boeing, it is the… Continue reading China confirms Boeing order: is the BA dip a buy opportunity?

Alibaba’s latest AI chip has given investors another reason to look past near-term profit pressure. The Chinese technology giant unveiled the Zhenwu M890 on May 19, a processor it says delivers three times the performance of its predecessor, with 144GB of GPU memory and faster chip-to-chip communication for heavy AI workloads. Alibaba’s US-listed shares closed… Continue reading Alibaba stock could jump 40%: new AI chip gives bulls fresh momentum

Big Short investor Michael Burry is aggressively reallocating capital toward beaten-down stocks, warning the artificial intelligence (AI) boom increasingly resembles the dot-com era. According to him, a remarkable 87% of venture funding now targets AI, creating what he dubs an “asset bubble – plain and simple”. To hedge against it, Burry is decisively rotating into… Continue reading Michael Burry just loaded up on these 5 ‘beaten-down’ stocks

Samsung stock plunged nearly 4% on Wednesday due to the prospect of the biggest strike in the company’s history, after talks with its South Korean labour union failed to produce a pay deal. Over 47,000 workers are poised to walk out for 18 days from May 21, raising fears of disruption at the world’s largest… Continue reading Samsung stock plunges as 47,000 workers set to strike after talks fail