Steve Cohen, chairman and CEO of Point72, speaking to CNBC on April 3, 2024.CNBCBillionaire investor Steve Cohen's Point72 plans to launch a separate, artificial intelligence-focused hedge fund to capitalize on the boom, according to a person close to the firm's plans.The new long/short equity fund, to be launched later this year...
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Fitch pushes back China rate cut expectations to next year as Fed holds interest rates steady
People walk past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. Jason Lee | ReutersBEIJING โ Ratings agency Fitch no longer expects China to cut its policy rate this year, and has pushed back its expectations for a reduction to next...
The U.S. added 500,000 new millionaires last year as AI fueled markets
B2m Productions | Digitalvision | Getty ImagesThe U.S. far outpaced the rest of the world in minting millionaires last year, adding 500,000 new millionaires and powering record fortunes at the top, according to a new study.America's millionaire population grew 7.3% in 2023 to 7.43 million people, according to a report...
Cocoa prices are soaring. Candy makers will need to get creative
Dried cocoa beans at the Somos Cacao farm and production facility in Ragonvalia, Norte de Santader department, Colombia, on Friday, March 22, 2024. Ferley Ospina | Bloomberg | Getty ImagesThere's pricing pressure taking hold of a specific corner of global agriculture โ and it's bittersweet.Prices of cocoa have more than tripled...
Activist Starboard amasses Autodesk stake, weighs suit over delayed probe disclosure
Jeffrey Smith, CEO and chief investment officer at Starboard Value LP.David Paul Morris | Bloomberg | Getty ImagesStarboard Value, the activist fund run by Jeff Smith, has taken a sizable stake in graphics-design firm Autodesk and has spoken with the company's board in recent weeks over a number of serious concerns involving its...