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Visa ended its relationship with a large cryptocurrency card provider on Friday, causing thousands of people’s transactions to be declined and scrambling to figure out how to access their money. The card provider WaveCrest confirmed in an email to CNBC that they were required “to immediately close all Visa cards.” “As a licensed E-Money Institution,
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Ripple tumbled more than 11 percent, dropping below $3 Friday, after crossing above that level for the first time two days ago. The digital currency, officially called XRP, was trading near $2.83, down 11.56 percent on the day and off 26 percent from its record high of $3.84 hit Thursday, according to CoinMarketCap. Ripple traded
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However, in the meantime, regulators will likely try to limit speculation in cryptocurrencies. In the last several months, the SEC has become increasingly vocal in warning investors about the risks of cryptocurrencies. The commission also has suspended trading in some companies due to concerns about their claims regarding their token-related announcements. “One of the things
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Brendan Smialowski | AFP | Getty Images Secretary of the Treasury Steven Mnuchin (L), National Economic Council Director Gary Cohn (C) and US Secretary of Commerce Wilbur Ross wait for President Donald Trump to speak about newly passed tax reform legislation during an event at the White House December 20, 2017 in Washington, DC. In
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The disappointing retail number in the Labor Department’s monthly nonfarm payrolls report shows Amazon‘s grip on the sector is “accelerating,” CNBC’s Jim Cramer said Friday. The Labor Department reported an unexpected loss of 20,000 retail positions during the holiday shopping season, bringing the number of jobs shed in the sector last year to nearly 70,000.
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Ampe Rogerio | AFP | Getty Images Residents line up at a gas station on December 21, 2017 in Luanda, Angola. Angola has suffered a week of fuel shortages, a bitter irony for one of Africa’s leading oil producers. Angola, OPEC producer and one of sub-Saharan Africa’s largest economies, unveiled two economic overhauls this week.
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Check out which companies are making headlines before the bell: Sears Holdings — The company announced Thursday it is closing 64 Kmart stores and 39 Sears establishments. Sears said the shutdowns are expected to start between early March and April. Constellation Brands — The beer maker reported better-than-expected quarterly earnings. The company also raised its
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Daniel Acker | Bloomberg | Getty Images An employee delivers food at a Sonic drive-in restaurant in Normal, Illinois. Sonic on Thursday reported fiscal first-quarter profit of $11.4 million. The Oklahoma City-based company said it had profit of 29 cents per share. Earnings, adjusted for non-recurring costs, were 30 cents per share. The results exceeded
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A subsidiary of Canada’s Brookfield Asset Management plans to acquire Westinghouse Electric, the bankrupt nuclear services company owned by Toshiba, for $4.6 billion. Brookfield Business Partners said in a statement on Thursday that it and institutional partners would use $1 billion of equity and $3 billion of long-term debt financing to buy the Pittsburgh-based business,
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Brian Snyder | Reuters A notice board shows cancelled flights at Logan International Airport during a winter snow storm in Boston, Massachusetts, U.S., January 4, 2018. A massive winter storm is moving out of the northeastern U.S. region, but flight disruptions will continue through the end of the week. Airlines canceled 614 flights scheduled for
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Check out the companies making headlinesafter the bell: Sears stock recovered slightly, up more than 1 percent in the extended session. The retailer, which owns Kmart, took a beating in the regular session. Shares were down close to 5 percent. A CNBC story on Thursday revealed it would shutter another 103 unprofitable stores, as it
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