Pan Gongsheng was named party secretary of the People’s Bank of China on July 1, 2023. Vcg | Visual China Group | Getty Images BEIJING — The People’s Bank of China announced Saturday that Pan Gongsheng, head of the country’s foreign exchange regulator, would become the central bank’s party secretary. In a country ruled by…

An image of Warren Buffett at the Berkshire Hathaway Shopping Day, May 5, 2023. Yun Li | CNBC Shrewd business legend Warren Buffett has a whimsical side, buying companies whose products he personally enjoys like Dairy Queen and See’s Candies. Now count plush toy phenomenon Squishmallows. Squishmallows made its Berkshire Hathaway annual meeting debut this…

The world’s most important central bank says the biggest banks in the U.S. are in strong enough shape to withstand a potential economic slowdown. All 23 banks that the Federal Reserve subjects to its annual stress test passed the key evaluation after the market closed on Wednesday. The Fed’s stress test, which resulted from the…

WisdomTree is attempting to launch a spot bitcoin exchange-traded fund even though its peers have failed. The firm filed with the U.S. Securities and Exchange Commission last week, making it its second bitcoin ETF application after an initial rejection two years ago. However, WisdomTree’s Jeremy Schwartz believes this time could be different.  “We’ve been able…

Jamie Dimon, CEO, JP Morgan Chase, during Jim Cramer interview, Feb. 23, 2023. CNBC The biggest U.S banks including JPMorgan Chase, Wells Fargo and Morgan Stanley said Friday they plan to raise their quarterly dividends after clearing the Federal Reserve’s annual stress test. JPMorgan plans to boost its payout to $1.05 a share from $1…

Goldman Sachs is in talks to offload its Apple credit card and high-yield savings account products to American Express, a source told CNBC’s Leslie Picker. Goldman Sachs and Apple declined to comment. CNBC has also reached out to American Express. The talks come amid a broader retreat by Goldman from its largely failed consumer banking…

Market Movers rounded up the best reactions from investors and analysts on Apple . The pros discussed the tech giant after it topped $3 trillion in market cap Friday and its stock closed at an all-time high. Apple first reached $3 trillion in January 2022 but fell below that milestone before the closing bell that…

The 2023 Apple Worldwide Developers Conference logo is displayed on a smartphone screen. Rafael Henrique | Lightrocket | Getty Images Check out the companies making headlines in midday trading Friday. Apple — Shares of the tech giant gained more than 1%, bringing the company’s market value to more than $3 trillion, a milestone first achieved…

Traders on the floor of the NYSE, June 29, 2023. Source: NYSE The majority of Wall Street investors believe stocks have entered a new bull market and the U.S. economy will skirt a recession in 2023, according to the new CNBC Delivering Alpha investor survey. We polled about 400 chief investment officers, equity strategists, portfolio managers and…

A shopper leaves a Nike store along the Magnificent Mile shopping district with a purchase on December 21, 2022 in Chicago, Illinois.  Scott Olson | Getty Images Check out the companies making the biggest moves in premarket trading: Nike — Shares dropped nearly 3% following the sports apparel giant reported an earnings miss for the…