Money News
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Meta sells Giphy for $53M to Shutterstock after UK blocked GIF platform purchase
Shutterstock said Tuesday it’s buying Giphy from Meta Platforms for $53 million, in the final step to unwind the deal blocked by British regulators, who prevented the Facebook owner from purchasing the GIF-sharing platform over competition concerns
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Street traders offer a better bargain than stores as Zimbabwe's currency crumbles
Shoppers in Zimbabwe are increasingly turning to street traders to buy what they need as the local currency plunges in value against the U.S. dollar
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The average long-term US mortgage rate rose to 6.39% this week, Freddie Mac says
The average long-term U.S. mortgage rate edged higher this week after a two-week drop, a modest move in line with a mostly moderate shift in home loan rates in recent weeks
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Seattle startup's ex-CFO accused of diverting $35 million, losing it in crypto crash
A federal indictment accuses the former chief financial officer of a Seattle startup of taking $35 million of his employer’s money without permission and losing it by investing in cryptocurrency before the crypto market crashed last year
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Crypto rules get final approval to make Europe a global leader on regulation
European Union states have given final approval to a sweeping set of beefed-up cryptocurrency rules, giving the 27-nation bloc a global lead in regulating the freewheeling sector
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Home Depot sees first annual sales decline in more than a decade as housing streak ebbs, rates jump
After years of explosive growth during the pandemic, Home Depot’s revenue during the first quarter fell short of expectations and the company cut its profit and sales outlook for the year, sending shares lower at the opening bell
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Beyond Meat revenue falls in first quarter due to weak demand, but company confident in turnaround
Beyond Meat says its first-quarter revenue fell nearly 16% due to lower demand in most markets for its plant-based meat
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FTX founder Sam Bankman-Fried seeks dismissal of indictment
FTX founder Sam Bankman-Fried is seeking a dismissal of criminal charges against him, saying prosecutors have improperly turned civil and regulatory issues into federal crimes
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Simon & Schuster again up for sale, executives confirm
Simon & Schuster is again up for sale
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Argentina's Fernandez seeks dollar relief from Brazil's Lula
Argentine President Alberto Fernández and his Brazilian counterpart, Luiz Inácio Lula da Silva, vowed Tuesday to keep working to come up with a mechanism that would allow them to skip the U.S. dollar in trade between the neighboring nations