The cryptocurrency market took a beating on Tuesday with bitcoin losing over 10% in value after U.S. lawmakers grilled Facebook on its cryptocurrency plans, as political and regulatory scrutiny of digital coins intensifies.
A top U.S. financial market regulator said on Tuesday he has not discussed with Facebook its Libra currency proposal, nearly a month after the social media giant announced the project.
Democratic and Republican lawmakers said on Tuesday that Facebook Inc's track record of what they described as untrustworthiness should stand in the way of it launching a digital currency, labeling the plan "delusional" and "crazy" at a Senate hearing.
The largest U.S. banks are scrutinizing members of the Federal Reserve for any insight into how the central bank will tinker interest rates.
The S&P 500 edged lower on Tuesday as quarterly results from banks added to concerns about lower interest rates dampening profits, while comments from U.S. President Donald Trump on trade also weighed on the benchmark index.
Two former executives at American Realty Capital Properties Inc, including the onetime billionaire who built it, have reached more than $60 million in settlements with the U.S. Securities and Exchange Commission of charges they wrongfully extracted millions of dollars from the real estate investment trust.
U.S. stocks were lower on Tuesday as results from big Wall Street lenders rekindled concerns about slowing profit growth in a low interest rate environment, while comments from President Donald Trump on trade also soured the mood.
Asian shares drifted lower on Wednesday after a lacklustre performance by Wall Street, while the dollar got a lift from robust U.S. retail data and a Brexit-driven dive in the pound.
Wells Fargo & Co reported higher quarterly earnings on Tuesday, due in part to lower expenses, but the bank reined in its outlook for cost cuts to invest in improving its risk management.
British luxury brand Burberry on Tuesday reported a stronger than expected 4% rise in first-quarter comparable store sales, lifted by new designs from creative chief Riccardo Tisci.
Most Asian stock markets rose on Monday, but gains were limited as investors awaited U.S. retail sales data and corporate earnings to gauge the health of the world's biggest economy ahead of a likely U.S. rate cut later this month.
Experian, the world's biggest credit data company, reported a 4% rise in revenue on Tuesday, benefiting from higher business across automotive, health, business credit and decision analytics segments in North America, its largest market.
Sweden's Husqvarna reported on Tuesday a slightly smaller increase than expected in second-quarter operating profit as savings and price hikes helped offset subdued demand due to a slow start of the gardening season.
Europe's largest budget carrier Ryanair has cut its forecast for growth in traveler numbers next summer due to the possibility of further delays in deliveries of Boeing 737 MAX planes.
Tesla Inc has dropped the standard-range variants of its Model X and Model S from its product lineup and adjusted prices across its range, in a sales push that comes days after the U.S. electric vehicle maker reported record deliveries.