Although it’s named the Fiscal Responsibility Act, the compromise debt ceiling package that President Joe Biden signed into law this past weekend doesn’t do much to fix the nation’s enormous financial challenges. The deal, which prevented the US from defaulting on its obligations and unleashing economic upheaval, holds non-defense discretionary…

Cathie Wood’s ARK Innovation ETF rose sharply Tuesday, as shares of its largest holding Tesla Inc. jumped and technology stocks rallied amid ongoing investor enthusiasm over artificial intelligence. The ARK Innovation ETF ARKK, +0.19%, an exchange-traded fund that targets disruptive innovation as an investment theme, closed 1.8% higher Tuesday, outpacing…

Major cryptocurrencies sank on Monday, after the U.S. Securities and Exchange Commission charged the world’s largest crypto exchange Binance Holdings Inc. and its co-founder Changpeng Zhao with 13 securities law violations.  Bitcoin BTCUSD, +1.35% fell 5% Monday to $25,857, the lowest level since March 17, according to CoinDesk data. Ether…

Ever feel like your world has turned upside down — and not in a good way — after you eat at a restaurant? The Centers for Disease Control and Prevention has shed light on how some diners get food poisoning: Approximately 40% of foodborne infectious-disease outbreaks at restaurants were linked…

The numbers: Most U.S. businesses grew at a slower pace in May as customer demand leveled off, a new survey showed. The ISM services index fell to a five-month low of 50.3% last month. The Institute for Supply Management’s index of service-oriented businesses dropped from 51.9% in April. Numbers above…

© Reuters Investing.com – U.S. stock futures were trading lower during Monday’s evening deals, following a negative session among major benchmark indices as investors retreated amid weakening PMI data. By 19:10 ET (23:10 GMT), and were 0.1% lower while dipped 0.2%. In extended deals, GitLab Inc (NASDAQ:) lifted 28.1% after…

Investing.com — Oil prices soared Monday after Saudi Arabia, the world’s largest exporter, pledged over the weekend to cut production by a further million barrels per day from July in an attempt to support a market hit by macroeconomic headwinds. By 09:05 ET (13:05 GMT), futures traded 2.5% higher at…

By Chijioke Ohuocha ABUJA (Reuters) – Nigeria’s central bank has sold the dollar at 645 naira at its latest auction, results showed on Friday, lower than 465 naira where the currency is trading on the official secondary market. Nigeria operates multiple exchange rates, which the central bank has used to…

By Angus Berwick and Tom Wilson LONDON (Reuters) – On Monday, the U.S. Securities and Exchange Commission took aim at the most powerful man in crypto. The SEC accused Binance founder Changpeng Zhao of operating a “web of deception,” charging him and his exchange with 13 offences. These ranged from…

Interest rate hikes by key central banks around the world and tightening credit conditions will put pressure on U.S. regional banks’ capital, credit quality, and profitability. Globally systemically important banks (G-SIBs) are benefiting from the diversity of business lines they have, as well as from the various sources of funding…