Facebook will also create a new subsidiary, Calibra, to build a digital wallet for people to store and exchange the currency using apps.Technologyread more
Experts expect Facebook's cryptocurrency venture to alleviate some security issues, while introducing new ones.Cybersecurityread more
European Central Bank President Mario Draghi defended the tools that the organization has available.Europe Newsread more
According to China's top economic planning body, some local companies are cutting back on their efforts to hire new university graduates.China Economyread more
German Chancellor Angela Merkel has presided over a tumultuous recent period, which for many, has left Europe on the brink.Commentaryread more
The chipmaker crush could persist and investors should be selective, but Nvidia looks like a clear buy, one market watcher says.Trading Nationread more
Tensions between China and the U.S. are threatening to slow global trade further, threatening some Asian economies.Asia Economyread more
U.S. President Donald Trump's former campaign chairman Paul Manafort was transferred to a detention facility in Manhattan on Monday ahead of an expected arraignment on state...White Houseread more
Airbus recorded orders and options for 123 planes, according to the aviation consulting firm IBA.iQ.Paris Air Showread more
Markets in Asia were mostly higher on Tuesday as investors awaited the start of a closely-watched meeting by the U.S. Federal Reserve, set to kick off later stateside.Asia Marketsread more
Wall Street analysts think Facebook's cryptocurrency payments project will give the company a big boost.Marketsread more
In a rating of hedge funds' top 10 holdings, 16 held Alphabet in the most recent quarter, topping the 15 hedge funds holding Facebook, Citi Research analyst Tobias Levkovich wrote in a note Thursday.
Facebook lost its tie among hedge-fund favorites with Alphabet from the first quarter of 2017, when 13 funds held shares of both tech companies in their top 10. The social media behemoth was gaining momentum from a dip after tying in the second quarter of 2016, but ceded ground most recently to Time Warner and NXP Semiconductors.
"Six of the top seven names owned by hedge funds are in the Information Technology sector," Levkovich said.
Mutual funds overwhelmingly love Microsoft, the reigning champion for the last five quarters, but the blue chip stock is less favored among hedge funds. Apple ranks even further behind, as a top 10 holding for only five hedge funds.