Author: Anthony M. Orbison

By Julie Zhu, Amy-Jo Crowley and Hadeel Al Sayegh HONG KONG/LONDON (Reuters) -Shein is set to hold informal investor meetings in the coming weeks for its planned London initial public offering (IPO), three sources with knowledge of the matter said, pushing ahead with preparations as it awaits UK regulatory approval. The China-founded online retailer plans to hold informal roadshows mainly across Europe, one of the sources said, during which an IPO-bound company fields large investors’ questions and tests their investment appetite. The sources declined to be identified as they were not authorised to speak to the media. A spokesperson for…

Visa has announced a new platform to help banks issue and manage fiat-backed tokens on blockchain networks, with BBVA set to pilot the platform by 2025. Global payment network Visa has unveiled a blockchain-based platform to help financial institutions integrate fiat-backed tokens, aiming to bridge traditional banking and blockchain technology. In an Oct. 3 press release, Visa said the so-called Visa Tokenized Asset Platform will enable financial institutions to mint, burn, and transfer tokens backed by fiat currencies, such as stablecoins, with BBVA, a Spanish multinational banking giant, set to pilot the technology on the public Ethereum (ETH) blockchain in…

The 5,000 financial institutions that originated a home loan in the U.S. are obliged by law to collect information about race. This policy is designed to help flag potential discrimination against borrowers, and has generated reams of data used by researchers, academics and the lenders themselves to halt it. The significance of the data, which is collected pursuant to the Home Mortgage Disclosure Act, is further reflected in the fact it has, in the past year alone, been cited by the Consumer Financial Protection Bureau, the Federal Financial Institutions Examinations Council, the Office of the Comptroller of the Currency, among…

Since Liberty Media acquired Formula 1 in 2017, the iconic auto racing competition has become one of the world’s most popular annual sporting series.Not only is Formula 1 a well-known event that is recognized worldwide, but it is also a highly profitable business.Don’t miss the move: Subscribe to TheStreet’s free daily newsletterAccording to Liberty Media’s Q2 earnings report for 2024, Formula 1 generated nearly $988 million in total revenue, a 36.5% growth from the year prior.LVMH is a French luxury group that owns multiple renowned luxury brands in various sectors, including wines and spirits, fashion and leather goods, perfumes and cosmetics, watches…

Global asset manager Franklin Templeton has officially filed for a Bitcoin and Ethereum Index ETF. Indeed, the firm submitted a proposal for the fund to the US Securities and Exchange Commission (SEC). The fund will reportedly hold both BTC and ETH indirectly, offering exposure to the top two cryptocurrencies.The fund will feature no staking and has custody provided by BNY Melon and Coinbase. Ultimately, it appears as though potential approval will rely on fraud prevention and the futures market. For now, Franklin Templeton is awaiting updates from the SEC on its submitted proposal.Also Read: Asset Manager Franklin Templeton files for…

Michael M. Santiago/GettyIndexes edged lower Thursday as investors assessed jobless claims and geopolitical tensions.Jobless claims climbed to 225,000, surpassing forecasts of about 221,000.On Friday, investors will get a fresh labor-market update from the September nonfarm-payrolls report.US stocks inched lower on Thursday, fueled by an uptick in jobless claims ahead of a key jobs report and continued tensions in the Middle East.Weekly jobless claims rose by 6,000 to 225,000, according to Labor Department data released Thursday.That surpassed forecasts of about 221,000, but weekly claims remained low, with the four-week moving average falling to its lowest point since June.Investors are also focused…

By Moira Warburton WASHINGTON (Reuters) – Two top Democrats in the U.S. Congress called for the internal watchdog of the Department of Homeland Security to resign on Thursday, after the release of a nonpartisan report alleging repeated misconduct and obstruction. DHS Inspector General Joseph Cuffari’s conduct was “evidence that he has seriously compromised the public’s trust and is plainly not fit to serve in a position that requires him to guard the public interest and act beyond reproach,” Representative Jamie Raskin, top Democrat on the House Oversight Committee, and Representative Bennie Thompson, the senior Democrat on the House Homeland Security…

Visa has launched the Visa Tokenized Asset Platform (VTAP), a new initiative to help banks issue fiat-backed tokens on blockchain networks.On Oct. 3, the digital payment giant announced that VTAP is now accessible through its Developer Platform. This enables participating institutions to develop and test digital assets like stablecoins and Central Bank Digital Currencies (CBDCs).Currently, the platform operates in a sandbox environment, but Visa plans to make it available for live use by 2025.VTAPVisa described VTAP as a way to apply its knowledge of emerging technologies, including smart contracts, to assist banks in offering blockchain services. The company plans to…

Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseOil prices soared to their highest level in more than a month on Thursday as traders speculated that Israel could engage in retaliatory strikes against Iran’s oil industry. Brent crude rose by more than 5 per cent to settle at $77.62 per barrel after US President Joe Biden told reporters that such a move was under discussion in response to Tuesday’s missile attack on Israel by Iran. Asked whether the US would support Israel striking Iran’s oil facilities, Biden…

Transcript:Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.Investors treaded lightly on Thursday – ahead of the crucial monthly employment report. Friday’s data could support the Federal Reserve decision to make a big interest rate cut in September or spark fear that even more rate cuts are needed to prevent the labor market from softening too much.Related: Average Americans are not prioritizing 401(k)s, student loans, and family planningIn other news – If you have a student loan you will not be forgiven for having whiplash. President Biden’s debt forgiveness efforts have…