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Wall Street macro traders head for worst year since the pandemic
  • November 28, 2024

Wall Street macro traders head for worst year since the pandemic

(Bloomberg) -- The world’s banks are on track to report the lowest revenue from foreign-exchange and rates trading since the pandemic, hit by tighter margins and a challenging macroeconomic backdrop. Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasListen to the Bloomberg Daybreak Europe podcast on Apple, Spotify or anywhere you listen.Over 250 firms

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Revolut Will Let Former Staff Sell Stock in Secondary Sale
  • November 28, 2024

Revolut Will Let Former Staff Sell Stock in Secondary Sale

(Bloomberg) -- Revolut Ltd. has told its former staff they can participate in a secondary share sale, allowing them to cash in at the finance firm’s latest $45 billion valuation. Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasFormer employees were told this week that anyone who’d been at the fintech for at least 24 months and held $100,000 or more i

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SOFI Stock’s Sky High Valuation Can’t be Justified by Exciting Growth
  • November 28, 2024

SOFI Stock’s Sky High Valuation Can’t be Justified by Exciting Growth

SoFi Technologies (SOFI) is a lending technology platform and consumer financial stock that has vastly outperformed the wider financial sector over the past 12 months. However, despite impressive growth expectations, I’m bearish on this Californian company. The stock’s valuation is simply too high, and the high price paid for expected growth introduces too much execution risk. It has also benefitted from the macroeconomic environment and strong sentiment, which could change. SoFi’s P/E Ratios Ar

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European stocks perk up as markets slow for Thanksgiving
  • November 28, 2024

European stocks perk up as markets slow for Thanksgiving

LONDON/SINGAPORE (Reuters) -European shares ticked up on Thursday after falling the previous day, while Asian stocks slipped, as trading volumes thinned ahead of the U.S. Thanksgiving holiday. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.52%, but Japan's Nikkei climbed 0.56%. European markets were boosted by a rally in tech shares after Bloomberg reported the Biden administration's curb on Chinese chips could be less severe than expected.

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