Key players in the GameStop saga are testifying to a House committee Thursday. Lawmakers are examining whether the wild swings in the stock price of the video game retailer exposed conflicts in the market’s structure that can hurt unsophisticated investors.
Banking & Finance
The latest coverage of the banking and financial sectors.
Coinbase made a rousing debut on Wall Street on Wednesday, with the digital currency exchange’s stock opening at $381, giving it a market value of $100 billion.
Democrats kept the heat on President Biden on Thursday to wipe away $50,000 from the debt of all people with student loans.
President Biden said Tuesday he won’t take executive action to cancel $50,000 worth of student debt per borrower but suggested he would consider doing so for a lesser amount.
As federal lawmakers debate new antitrust policy, the Republican atop the Senate’s key antitrust panel said Tuesday he wants Congress to focus on the “corporate shadow state” but not toss out existing antitrust rules altogether.
The seemingly unstoppable rise of Bitcoin continued Tuesday with the cost of a single unit of the digital currency rising above $50,000 for the first time.
Tesla has acquired around $1.5 billion in Bitcoin under an investment policy at the electric car maker headed by Elon Musk, and it plans to begin accepting the digital currency as payment for vehicles soon.
Small businesses can’t afford another year like 2020.
The price of silver is rallying as the online trading movement fuelling the rise of unloved shares like GameStop took a shine to the precious metal.
Sen. Elizabeth Warren said Sunday there is too much manipulation in the stock market and not enough regulation.
A watchdog group has called out House Speaker Nancy Pelosi for a very profitable Tesla stock deal shortly before the Biden administration released plans to make the federal automobile fleet electric.
White House press secretary Jen Psaki responded to a question about volatile stock market trading and fears of a bubble by reminding reporters: “We have the first female treasury secretary.”
The U.S. Senate voted to confirm Janet Yellen as the next treasury secretary on Monday, which will give President Biden another member of his team he says he needs in place right away.
The Biden administration is moving ahead with plans to put Harriet Tubman on the $20 bill, reviving an effort started by former President Barack Obama and stopped by former President Donald Trump.