The Securities and Exchange Commission on Wednesday debuted a host of new rules for SPACs that, if enacted, would mark one of the broadest attempts to date at cracking down on the hot market for blank-check companies. SPACs, or special-purpose acquisition companies, have come under fire in recent years by investors who say that the […]
Category: Top News
Dow futures are little changed ahead of last day of March
Stock futures were slightly higher in overnight trading Wednesday ahead of the last trading day of the month and quarter. Futures on the Dow Jones Industrial Average was near flat. S&P 500 futures ticked up 0.1% and Nasdaq 100 futures added 0.3%. Stocks are coming off a down session Wednesday in which the Dow and […]
Apple and Meta shared data with hackers pretending to be law enforcement officials
Apple and Meta handed over user data to hackers who faked emergency data request orders typically sent by law enforcement, according to a report by Bloomberg. The slip-up happened in mid-2021, with both companies falling for the phony requests and providing information about users’ IP addresses, phone numbers, and home addresses. Law enforcement officials often […]
Biden poised to use Cold War powers to boost battery metals
President Joe Biden plans Thursday to invoke Cold War powers to encourage domestic production of critical minerals for electric-vehicle and other types of batteries, according to people familiar with the matter. The White House is poised to add battery materials to the list of items covered by the 1950 Defense Production Act — the same […]
FedEx CEO says the company will make ‘an enormous effort’ toward AV trucks in June
FedEx chief executive Fred Smith told CNBC’s Jim Cramer on Tuesday that the company will make big strides in its autonomous vehicle efforts this summer. “You’ll see in late June an enormous effort towards autonomous trucks that move over the highway. Not in the city, where we think our drivers are better for the pickup […]
Oil drops 2% amid Russia-Ukraine peace talks, China lockdowns
HOUSTON, March 29 (Reuters) – Oil prices ended 2% lower on Tuesday as talks progressed between Russia and Ukraine to end their weeks-long conflict, though Moscow negotiators said a promise to scale down some military operations did not represent a ceasefire. Further weighing on oil futures, new lockdowns in China to curb the spread of […]
Gold prices fall for second straight day, dollar higher
April gold fell 0.7% to settle at $1,921.90 an ounce on Comex. Meanwhile, the dollar was stronger versus major rivals, with the ICE U.S. Dollar Index up 0.3%. “The dollar has generally been the primary safe haven in recent weeks, but interest in gold, while perhaps somewhat subdued, is still relatively solid,” said Rhona O’Connell, […]
The FTC sues TurboTax to stop ‘misleading’ ads for free tax prep software
The Federal Trade Commission (FTC) said Tuesday that Intuit’s “ubiquitous” advertising claiming its TurboTax tax prep software is free to use is misleading, and has asked a federal court to order Intuit to stop “disseminating the deceptive claim that consumers can file their taxes for free using TurboTax.” According to the commission, the ads “some […]
Oil prices dropped about 7% to settle at their lowest level in more than a week
Oil prices dropped about 7% to settle at their lowest level in more than a week, as a worsening COVID-19 outbreak in China threatened to hurt energy demand. Hopes for progress in peace talks between Russia and Ukraine helped ease some concerns over risks to energy supplies. West Texas Intermediate crude for May delivery dropped […]
Dairy Queen launches Stackburger line as chain sees record sales in 2021
Dairy Queen is expanding its burger offerings as the fast-food chain looks beyond Blizzards and other desserts. The new Stackburger line is Dairy Queen’s biggest menu expansion in two decades, with five burger flavors for U.S. customers: Flamethrower, Loaded A1, Bacon Two Cheese Deluxe, Two Cheese Deluxe and the Original Cheeseburger. They’re available as one-third […]
Tesla wants to split its stock so it can pay a stock dividend; shares gain
Tesla wants to split its stock so it can pay a stock dividend to shareholders, according to a filing Monday. The Securities and Exchange Commission filing said the electric car maker will ask at its annual shareholders meeting “for an increase in the number of authorized shares of common stock … in order to enable […]
FedEx names Raj Subramaniam as CEO, replacing founder Fred Smith
FedEx Corp. said Monday that Fred Smith will step down on June 1 as CEO of the package-delivery company that he founded and be succeeded by the company’s president and chief operating officer. Raj Subramaniam will serve as both CEO and president and Smith will become executive chairman, the package-delivery company said. Smith, 77, started […]