GameStop Slips as Skeptic Warns That Reddit Rally Will Fade
Bailey Lipschultz, 12 April 2021
(Bloomberg) — GameStop Corp.’s Reddit-fueled trading surge is likely going to fade as threats from digital game downloads sink in, according to one skeptical Wall Street analyst.
The stock slumped after Ascendiant Capital Markets analyst Edward Woo downgraded the retailer to sell from hold, saying increasing digital sales for video-game publishers is a looming risk given GameStop’s minimal market share. He warned clients in a note about the long-term prospects for the company as the market for new gaming systems matures after new launches from Microsoft Corp. and Sony Group Corp. Continue reading “Article: GameStop Slips as Skeptic Warns That Reddit Rally Will Fade”
As cases of fraud and money laundering rose during the pandemic last year, banks in the UK faced unforeseen challenges. In a new study by global analytics software provider FICO and independent research firm OMDIA, 79 per cent of respondents from UK banks said that working from home had a high or major impact on the effectiveness of their financial crime prevention.
Cybercrime complaints soared to a record high last year, when total losses surpassed $4.2 billion and losses to those 50 and older exceeded $1.8 billion, according to FBI data for 2020.
A former Royal Bank of Scotland trader is suing the lender for more than £1.1 million ($1.5 million), claiming he is being denied promised bonuses after being unlawfully dismissed during a regulatory investigation into the Libor rate-rigging scandal.
Former Portage Clerk-Treasurer Christopher Stidham will have to give up his law license and the chance of future work in the public sector, much less a run for office, after being sentenced Monday on a Level 6 felony count of conflict of interest.
Treasury Secretary Janet Yellen will decline to name China as a currency manipulator in her first semiannual foreign-exchange report, according to people familiar with the matter, a move that allows the U.S. to sidestep a fresh clash with Beijing.
Being “tough on China” is politically popular in Washington these days, and Biden has come out of the gate swinging against Beijing. But “being tough” isn’t a policy and reflexively applying it to China doesn’t serve U.S. interests. A logical and realistic approach to Beijing, however, can.
Shanghai, China: Chinese regulators have hit e-commerce giant Alibaba with a massive 18.2 billion yuan ($2.78 billion) fine over practices deemed to be an abuse of the company’s dominant market position, state-run media reported on Saturday.