On The Wire: Today's Top Stories In Finance & Tech

Your daily briefing of some of the most important stories from the crypto, finance, and tech space.

The daily news roundup from REX Wire

Welcome to your daily briefing, where we bring you stories from the forefront of finance, technology, and market analysis, sent directly to your inbox.

In today's roundup, China's luxury sector is booming, while US banks with exposure to commercial property are floundering. Tech firms are cutting jobs to focus on AI, analysts are weighing the possibility of an ETH ETF, and Bitcoin miners are angering some Texans.

European Stocks Shine As Safe Bet On China's Economy

European luxury and automotive stocks outperform amid China's economic downturn, being seen as a safer bet for investors seeking exposure to China's recovery. The Stoxx Luxury 10 index rises 9.3%, indicating a strategic pivot towards European equities amidst global market uncertainties.

European Stocks Shine As Safe Bet On China’s Economy
Investors favor European luxury stocks as a safer investment tied to China’s economic prospects.

US Banks' Property Debt Concerns Surge

Bad commercial real estate loans at major US banks have surpassed loss reserves, with a notable decline from $1.60 to 90 cents per delinquent dollar. This trend underscores increasing risks in the sector, urging banks to reevaluate their loan loss provisions amid regulatory scrutiny.

US Banks’ Property Debt Concerns Surge
US banks face growing concerns as bad property loans exceed their reserves, highlighting a risky trend.

Is An ETH ETF On The Cards?

Since the SEC has already allowed ETH futures ETFs, some analysts believe it's only a matter of time before a spot ETF is approved.

Is An ETH ETF On The Cards?
With bitcoin spot ETFs approved, could ETH be next in line?

Bitcoin Mining Noise Angers Texans

Mining plays a critical role in balancing electricity demand in the Lone Star state, and has contributed to the growth of renewables. However, carbon isn't the only form of pollution people are worried about.

Bitcoin Mining Noise Angers Texans
Bitcoin mining has been a boon for Texas, but there are downsides, including noise pollution.

Tech Firms Cull 41,793 Roles To Forge Ahead In AI

In 2024, the tech industry has cut over 40,000 jobs so far, as they focus on artificial intelligence. Companies like Microsoft, Snap, eBay, and PayPal are streamlining for efficiency and innovation, reflecting a strategic shift amidst evolving market demands.

Tech Firms Cull 41,793 Roles To Forge Ahead In AI
Tech giants make major lay offs to pivot resources towards AI innovation and growth.

Epic Games Store's Free Games Wane In Popularity Yearly

Epic Games Store's free games see a decline in downloads, from 765 million in 2021 to 586 million in 2023, despite the platform's continuous offer of 86 to 99 free games annually. The trend persists even as Epic commits to maintaining the program.

Epic Games Store’s Free Games Wane In Popularity Yearly
Interest in Epic Games Store’s free games declines, with fewer downloads year after year.

Subscribe to our newsletter and follow us on X/Twitter.

Great! You’ve successfully signed up.

Welcome back! You've successfully signed in.

You've successfully subscribed to REX Wire.

Success! Check your email for magic link to sign-in.

Success! Your billing info has been updated.

Your billing was not updated.