European markets climb as global markets rally; Stoxx 600 up 1.6%

European markets climb as global markets rally;  Stoxx 600 up 1.6%

Stocks on the move: Greggs, Accelleron up 5% Shares of British bakery chain Greggs gained 5.6% in early trade after reporting a rise in quarterly sales despite the deepening cost of living crisis and plummeting consumer confidence in the UK Accelleron shares added 5% as investors picked up the stock at a discount following the … Read more

Naver agrees to acquire fashion marketplace Poshmark for $1.2B • TechCrunch

Naver agrees to acquire fashion marketplace Poshmark for .2B • TechCrunch

Naver, the South Korean search giant, today announced it plans to acquire secondhand apparel marketplace Poshmark for $1.2 billion in cash. The deal values ​​publicly traded Poshmark’s shares at $17.90 — a 15% premium over today’s closing price — and the companies expect it to close by Q1 2023, subject to approval by Poshmark stockholders … Read more

Elon Musk’s Half-Baked Robot Is a Clunky First Step

Some robot experts watching saw a project that appeared to be quickly getting up to speed. “There’s nothing fundamentally groundbreaking, but they are doing cool stuff,” says Stefanie Tellex, an assistant professor at Brown University. Henrik Christensen, who researches robotics and AI at UC Davis, calls Tesla’s homegrown humanoid “a good initial design,” but adds … Read more

American Express ‘Member Week’ Savings

American Express will soon launch its second annual “Member Week,” and there are a lot of potential deals to be had. From Oct. 10 to 14, personal and business American Express cardholders will be able to take advantage of a host of unique experiences and offers, ranging from savings on travel and dining to access … Read more

Britain’s tax back-down bounces stocks and sterling

Britain scraps small part of tax plan; markets relieved Reserve Bank of Australia surprises with a small hike high VIX; Credit Suisse stock slide point to nerves beneath SYDNEY, Oct 4 (Reuters) – Asian stocks bounced on Tuesday after Britain scrapped bits of a controversial tax cut plan, tentatively improving global market sentiment and rallying … Read more

Joe Biden’s administration urges Congress to speed up crypto rules

The Biden administration has called on Congress to pass laws to clarify how cryptocurrencies should be regulated, as officials warned that delays on Capitol Hill could put investors at risk. The US Financial Stability Oversight Council — a group of the country’s top financial regulators including the Treasury — issued a report on Monday urging … Read more

NYC office buildings are set to see $50 BILLION in value wiped out as most continue work from home

The city of New York continues to face devastating financial peril from remote work, as office buildings could potentially lose $50billion due to people doing their jobs from home. A recent study from the National Bureau of Economic Research shows that property values ​​of office buildings in the city declined nearly 45 percent in 2020 … Read more

What are the best business hotels in Europe: London, Paris, Frankfurt

International travel may still have its challenges. But finding a solid hotel for a business trip isn’t one of them. CNBC Travel and the market data firm Statista today release a ranking of the “Best Hotels for Business Travelers” in Europe. This is the first ranking of its kind between CNBC and Statista, who are … Read more

Asian shares rise after ‘relief rally’ on Wall Street

TOKYO (AP) — Asian shares rose Tuesday, encouraged by a rally in US shares after some weak economic data raised hopes that the Federal Reserve might ease away from aggressive interest rate hikes. Japan’s benchmark Nikkei 225 added 2.3% in morning trading to 26,811.08. Australia’s S&P/ASX 200 surged 2.4% to 6,610.50. South Korea’s Kospi jumped … Read more