Latest news with #NEWYORK
Washington Post
an hour ago
- Washington Post
Microsoft Authenticator is ending password autofill soon. How to set up a passkey before Aug. 1
NEW YORK — If you're a Microsoft Authenticator user, like me, you've probably received at least one notice that the app's password management features are no longer usable and that your stored passwords will be inaccessible starting Aug. 1 unless you have the Edge browser. Why? Because Microsoft is moving its signature sign-in app to a digital authentication method touted by security experts as an easier and more secure way to log in: passkeys .
Zawya
4 hours ago
- Business
- Zawya
Microsoft becomes second company to reach $4trln valuation
NEW YORK: Microsoft has become the second company in history to surpass a market capitalisation of US$4 trillion, following sustained momentum in its stock performance. Chipmaker Nvidia continues to lead the market with a valuation of US$4.4 trillion. Microsoft's strong showing was driven by a surge in its share price following robust quarterly results, with accelerated growth reported in the financial quarter ending in June. The company's stock rose by as much as five percent at the start of trading in the United States, propelled by significant gains in artificial intelligence and cloud computing services. In the most recent quarter, Microsoft's revenue increased by 18 percent, exceeding US$76 billion, while net profit rose by 25 percent to reach US$27 billion.
Reuters
8 hours ago
- Business
- Reuters
Bridgewater founder Ray Dalio sells remaining stake in hedge fund, letter says
NEW YORK, July 31 (Reuters) - Investor Ray Dalio sold his remaining stake in Bridgewater Associates, the hedge fund he founded 50 years ago, according to a letter sent to investors, while Brunei's sovereign fund acquired a minority stake in the firm, a source said. "We wanted to update you that Bridgewater recently repurchased the last remaining ownership shares held by Dalio-related entities," Bridgewater CEO Nir Bar Dea and Co-Chair Mike McGavick said in a July 21 letter to clients seen by Reuters. The transaction marks years-long transition at the world's largest hedge fund, with $92.1 billion in assets under management. Dalio, 76, resigned from his CEO position in 2017 and handed over control of Bridgewater to a new generation of investors in 2022. Dalio said in a social media post on Thursday that he was thrilled to be passing along Bridgewater to the next generation. "Above all else, I am thrilled about it because I love seeing Bridgewater alive and well without me—even better than alive and well with me," he said. The source, who spoke on condition of anonymity because the information was not public, said Dalio will step down as a board member as well. After Dalio sold his stake to Bridgewater, the Brunei Investment Agency redeemed money invested in the firm's funds and bought a minority stake in the hedge fund manager, the source added. Brunei's sovereign fund did not immediately respond to a request for comments on the transaction. Co-Chief Investment Officer Bob Prince is now Bridgewater's biggest individual partner, while the firm is controlled by a group of employees, the source said. The Wall Street Journal first reported Dalio's sale of his stake in Bridgewater and the Brunei sovereign fund's investment earlier on Thursday. Bridgewater Associates' main funds ended the first half of 2025 with gains, with the flagship Pure Alpha 18% volatility posting a 17% return in the first half of 2025.
Globe and Mail
9 hours ago
- Business
- Globe and Mail
Brookfield Real Assets Income Fund Inc. Announces Quarterly Webcast
NEW YORK, July 31, 2025 (GLOBE NEWSWIRE) -- Brookfield Public Securities Group LLC ('PSG') will host a webcast for Brookfield Real Assets Income Fund Inc. (NYSE: RA) (the 'Fund') on Thursday, August 7, 2025 at 4:30pm ET. PSG will provide an update on the Fund and on general market conditions. There will be an opportunity to ask questions about the Fund during the call. Questions may also be submitted ahead of the call by sending an e-mail to ir@ Registration and Webcast Link: Audio only: +1 323-794-2442 or 800-289-0462 Event Code: 377740 It is not necessary to dial into the audio conference, unless you are unable to join via the webcast URL. A replay will be available via this link shortly following the webcast. A transcript of the webcast will also be available by calling 855-777-8001 or by sending an e-mail request to the Fund at ir@ Brookfield Real Assets Income Fund Inc is managed by Brookfield Public Securities Group LLC (PSG). The Fund uses its website as a channel of distribution of material information about the Fund. Financial and other material information regarding the Fund is routinely posted on and accessible at Contact information: Investing involves risk; principal loss is possible. Brookfield Real Assets Income Fund Inc. is distributed by Foreside Fund Services, LLC.
Reuters
12 hours ago
- Business
- Reuters
Breakingviews - Stablecoin buzz vexes Visa and Mastercard's repose
NEW YORK, July 31 (Reuters Breakingviews) - Cryptocurrency hype is making the outlook for the U.S. credit card duopoly more unstable than it has been in years. Visa (V.N), opens new tab and Mastercard (MA.N), opens new tab executives, speaking on earnings calls this — the first since the passage of legislation that could speed stablecoin adoption — largely dismissed the threat from dollar-pegged digital coins, which could let retailers or banks bypass their ubiquitous payment networks. Steady profit and strong valuations throughout years of potential disruptions offer some reassurance. But the soaring share price of stablecoin operator Circle Internet Group (CRCL.N), opens new tab, now worth over $40 billion, poses a challenge: both sets of investors can't be right. History suggests that the card companies will be resilient. Both beat analysts' expectations this quarter, according to LSEG data, with Visa's earnings up 8% to $5.3 billion and Mastercard's up 14% to $3.7 billion. Their networks' ubiquity and reliability, especially in the United States — where they process about 70% of all purchases, according to industry researcher Nilson Report — shielded them from past threats like Venmo-style payment apps. Meanwhile, political pressure to lower fees has waxed and waned, easing under the Trump administration. Visa and Mastercard shares are up 31% and 24% in the past year, trading at 28 times and 32 times expected earnings over the next 12 months, respectively. It's a lucrative business across the board. The duo collected from merchants a total of about $95 billion in their most recent fiscal years in swipe fees, which they split with banks and partners. The problem is that their cut is shrinking. Visa gleaned 6.6 cents of processing fees per transaction last quarter, down from nearly 9 cents a decade ago. Mastercard's similar swipe fees rose this quarter, partly due to currency shifts, but averaged 7.3 cents over the past year, down from nearly 8 cents the year before. Stablecoins aren't yet to blame. Both companies note that usage remains tiny compared to the roughly $15 trillion processed annually over Visa's network alone. They also argue that digital coins are most useful in countries with unstable fiat currencies. Still, the decline in per-transaction fees — driven by pricing pressure and business mix — exposes their vulnerability, while major merchants like Walmart (WMT.N), opens new tab are already eyeing adopting tokens. So far, Visa and Mastercard have held steady, offsetting any lost revenue with consulting and other services. But Circle's valuation, up sharply since its June listing, implies wildly optimistic hopes for stablecoin adoption, while others are crowding into the space. If that happens, the credit card giants' once-impenetrable repose may finally be shaken. Follow Stephen Gandel on LinkedIn, opens new tab and X, opens new tab.
