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  • Business
    Reuters

    American Express beats profit estimates on strong spending by wealthy customers

    (Reuters) -American Express's first-quarter profit vaulted past Wall Street estimates on Friday, driven by an affluent customer base that increased spending as recession fears receded. Amid a turbulent landscape in which concerns over the financial well-being of lower-income consumers have troubled several lenders, American Express's clientele has shielded the company from significant impact and left it largely unscathed by the challenges others in the industry faced. Shares of the New York-based company rose about 2%, to $221.66 in premarket trading, after it reported a profit of $3.33 a share for the three months ended March, sailing past analysts' average expectation of $2.96 a share, according to LSEG data.

  • Business
    The Canadian Press

    Bitcoin's next 'halving' is right around the corner. Here's what you need to know

    NEW YORK (AP) — Sometime in the next few days or even hours, the “miners” who chisel bitcoins out of complex mathematics are going to take a 50% pay cut — effectively slicing new production of the world’s largest cryptocurrency in half. That could have a lot of implications, from the price of the asset to the bitcoin miners themselves. And, as with everything in the volatile cryptoverse, the future is hard to predict. Here’s what you need to know. WHAT IS BITCOIN HALVING AND WHY DOES IT MATTER?

  • Business
    Bloomberg

    Are Rates High Enough? Fed Resets Clock on Interest-Rate Cuts

    (Bloomberg) -- A string of disappointing inflation data has forced the Federal Reserve to reset the clock on its first interest-rate cut and re-evaluate the trajectory of price growth.Most Read from BloombergElon Wants His Money BackDubai Grinds to Standstill as Flooding Hits CityIsrael Reported to Have Launched Retaliatory Strike on IranRecord Rainfall in Dubai? Blame Climate Change, Not Cloud SeedingOil Erases Advance After Iranian Media Downplays Israel’s AttackChair Jerome Powell cemented th

  • Business
    Bloomberg

    Stocks on Edge After Attacks as Havens Pare Gains: Markets Wrap

    (Bloomberg) -- An escalation of tensions in the Middle East kept stock markets on edge, though haven assets including bonds and the dollar gave up some early gains after Iranian media appeared to downplay the impact of Israeli strikes.Most Read from BloombergElon Wants His Money BackDubai Grinds to Standstill as Flooding Hits CityIsrael Reported to Have Launched Retaliatory Strike on IranRecord Rainfall in Dubai? Blame Climate Change, Not Cloud SeedingOil Erases Advance After Iranian Media Downp