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Why Does Nu Mexico’s Banking Authorization Matter? Nu, the parent company of Brazil-based Nubank, has received authorization from Mexico’s National Banking and Securities Commission to begin operations as a bank, moving its Mexican business from the non-bank fintech category into the country’s formal banking sector. The authorization makes Nu Mexico the largest digital bank in the country by customer count, with more than 15 million customers. That figure represents more than 15% of Mexico’s population and gives Nubank a larger base from which to expand deposits, credit products, payments, and other financial services. Until now, Nu Mexico operated as a…
The New York Times’ stock has pulled back into a local correction, retreating from its year-to-date high of $87.18 to $75.The decline follows profit-taking after Berkshire Hathaway disclosed its stake in the company back in February. Even so, the underlying business remains strong, and that strength points to a likely rebound heading into earnings.New York Times is not failingPresident Donald Trump has always claimed that the New York Times’ business was failing. However, in reality, its business is booming, helped by its digital business and its large market share in the media industry.Unlike the Washington Post and LA Times, its…
Citigroup beat Wall Street estimates for second-quarter profit after reporting its highest quarterly revenue in a decade, as strong trading activity and higher investment banking fees boosted results.The bank reported net income of $5.8 billion, or $3.15 per share, representing a 45% increase from the same period last year.Analysts had expected earnings of $2.74 per share, according to data compiled by LSEG.Revenue rose 14% year over year to $24.8 billion, exceeding Wall Street expectations.At the time of writing, Citigroup shares rose 2.12% during Tuesday’s trading session.Citi’s shares have gained 20.6% so far this year, outperforming its Wall Street peers as…
WTI crude oil can be expected to rise to the next resistance level 85.00 (former strong support from May). WTI crude oil broke resistance area Likely to rise to resistance level 85.00 WTI crude oil recently broke the resistance area located between the key resistance level 78.10 (which stopped the previous short-term correction 4 in the middle of June, as can be seen from the daily WTI crude oil chart below), resistance trendline of the daily down channel from May and the 38.2% Fibonacci correction of the downward impulse from the start of June. The breakout of this resistance area…
The Commodity Futures Trading Commission has accused a North Carolina commodity pool operator of orchestrating a $14 million investment fraud that allegedly concealed catastrophic trading losses through fabricated account statements and Ponzi-like payments to investors. The civil enforcement action highlights the regulator’s continued focus on fraudulent commodity pools that increasingly blur the line between traditional futures trading and digital assets. According to a complaint filed in the U.S. District Court for the Western District of North Carolina, Trevor L. Vernon and his company, Argent Capital Management LLC, raised more than $14 million from at least 60 investors between March 2022…
UnitedHealth Group stock has been in a strong rally this year as investors cheered its turnaround efforts and the Trump administration’s decision to boost Medicare Advantage payments by a larger-than-expected rate. UNH jumped and peaked at $434 last week, up by 66% from its lowest point this year. This surge mirrored that of other health insurance companies like CVS, Humana, and Elevance Health.There are signs that this rally is about to end as the UNH stock has flashed some highly bearish chart patterns ahead of its earnings report.UnitedHealth Group stock technicals points to a retreatThe daily chart shows that UNH stock…
Apple Inc. is emerging as an unlikely winner from Wall Street’s growing scepticism over artificial intelligence spending, with investors increasingly rotating into the iPhone maker as chipmakers and cloud-computing companies face mounting pressure.The stock has rebounded sharply after disappointing investors with its latest AI announcements, adding nearly $600 billion in market value since bottoming on June 25 and returning to record highs, Bloomberg reported.Apple’s AAPL shares have climbed 15% over the period, while the Philadelphia Semiconductor Index has declined 7% even as it still stays up by about 75% this year.The broader S&P 500 has gained 3%, while the technology-heavy…
Real-world asset (RWA) tokenization is changing how institutions invest in and manage traditional assets. By leveraging blockchain technology, physical and financial assets like real estate, private credit, bonds, and investment funds can be represented as digital tokens. This makes it easier to sell, buy, and manage these assets. Institutional investors are now exploring RWA tokenization to increase liquidity, improve efficiency, and simplify asset management. Tokenized assets also make it feasible to divide ownership into smaller units, allowing for more investment flexibility. This article explores ten of the top RWA tokenization platforms for institutional investors in 2026 and the features that…
SBI VC Trade will open applications on July 16 for JPYSC Lending, a product that pays holders of the yen-backed stablecoin JPYSC an initial 3% annual rate to lend the token to the exchange, marking the first trust-type yen stablecoin lending service in Japan. The exchange, a subsidiary of SBI Holdings, will run the service on its VCTRADE platform, with lending starting July 23. Customers lend their JPYSC to the company and earn a fee in return, extending SBI’s stablecoin push beyond payments. The service arrives weeks after SBI Group launched JPYSC as Japan’s first trust bank-backed yen stablecoin, issued…
The Kospi Index is stuck in a local bear market after falling 21% from its year-to-date high. It ended the week at 7,475, down sharply from the year-to-date high of 9,387. This article highlights some of the top catalysts for South Korean stocks this week.Kospi Index chart | Source: TradingViewKospi Index to react to SK Hynix US IPOThe Kospi Index will react to last Friday’s SK Hynix US IPO that saw it raise over $26.5 billion. Its stock jumped by over 13% on its first day as brokers rushed to fill pre-orders. The IPO happened when South Korean stocks were closed,…