Saul Loeb | AFP | Getty Images William Barr, nominee to be US Attorney General, testifies during a Senate Judiciary Committee confirmation hearing on Capitol Hill in Washington, DC, January 15, 2019. President Donald Trump's attorney general nominee William Barr appeared to dismiss one of the president's most consistent attacks on special counsel Robert Mueller:…
Federal prosecutors are set to unveil charges in an international stock trading scheme that involved hacking into the Securities and Exchange Commission's EDGAR corporate filing system. The scheme allegedly netted $4.1 million for fraudsters from the U.S., Russia and Ukraine. Using 157 corporate earnings announcements, the group was able to execute trades on material nonpublic…
That makes it highly unlikely that the government will be able to issue the fourth-quarter GDP report due Jan. 30th. A BEA official could not say when or whether the GDP report can be issued. "There is no way for us to know until we get back and evaluate all the various data sources that…
The surveys show only tepid support for building the wall, an oft-repeated Trump campaign promise that he sees as an essential part of his appeal. Forty-three percent of voters want to construct the barrier, while 55 percent do not, according to the Quinnipiac survey. Only 39 percent of Americans favor building a wall along the…
Cash is becoming the king as investors flee volatile stock markets. Assets in money market mutual funds have swollen to $3.066 trillion, their highest level since March 2010, driven by retail investors. The money fund assets had spent much of the last decade in the $2 trillion range but tracked above $3 trillion again in…
The White House said Monday that Ivanka Trump, the daughter of President Donald Trump and a senior advisor to him, is not being considered to be the next head of the World Bank. Ivanka is, however, overseeing an internal search for the new chief, the White House said. "Secretary Mnunchin and Chief of Staff Mulvaney…
SpaceX President and COO Gwynne Shotwell and CEO Elon Musk choked up breaking bad news about layoffs at an all-hands meeting in Hawthorne, California, last Friday, according to three people who attended or viewed the meeting via video. Musk and Shotwell acknowledged that the broad restructuring at SpaceX meant the company would have to lay…
It's a moment of truth for the financials sector as big banks gear up to report earnings this week. Citigroup kicked things off for the group Monday morning, rallying 4 percent despite missing on revenue thanks to weak trading. This sent the financials-tracking ETF (XLF) higher for the day with Citi leading the charge. And…
NBC is doing a solid for the traditional pay-TV industry. Comcast's NBCUniversal plans to debut a free, ad-supported streaming service to anyone that subscribes to a traditional pay-TV service, including competitors such as Charter, AT&T, Cox and Dish, in the first quarter of 2020, the company announced Monday. For those that don't subscribe to a…
Canopy Growth has been granted a license by New York State to process and produce hemp with the help of efforts by Governor Andrew Cuomo and U.S. Senator Charles Schumer. Canopy Growth hopes to establish large-scale production capabilities focused on hemp extraction and product manufacturing within the United States. Depending on Board approval of a…
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