Retail traders scored against Wall Street professionals as GameStop shares surged and hedge funds retreated with heavy losses on short positions in the company.
Business & Financial News, U.S & International Breaking News
Fed leaves policy unchanged as economic recovery appears to moderate
The Federal Reserve on Wednesday left its key overnight interest rate near zero and made no change to its monthly bond purchases, pledging again to keep those economic pillars in place until there is a full rebound from the pandemic-triggered recession.
U.S. faces higher risk of domestic extremist violence after Capitol assault, says gov't
The United States could face a heightened threat of domestic extremist violence for weeks from people angry at Donald Trump's election defeat and inspired by the deadly storming of the U.S. Capitol, the Department of Homeland Security warned on Wednesday.
On his first day, Secretary of State Blinken commits to rebuilding U.S. diplomacy worldwide
Antony Blinken began his first full day as U.S. secretary of state on Wednesday promising to repair ties with global partners and show the world that America can lead, while tackling climate change, the erosion of democracies and other complex issues.
Google to stop using Apple tool to track iPhone users, avoiding new pop-up warning
Google's iPhone apps such as Maps and YouTube will stop using a tool from Apple Inc that allows them to personalize ads, avoiding a new Apple warning that informs users their browsing is being tracked.
Stocks slump on short squeeze fallout, Boeing drop; Fed sits tight
U.S. stocks dropped more than 1% on Wednesday, showing little reaction to the latest Fed statement, as major indexes were weighed down in part by a slump in Boeing and hedge funds selling off long positions to cover a short squeeze.
U.S. private prison revenue under pressure from new Biden rules
CoreCivic and the GEO Group, two of the largest U.S. private prison companies, could lose as much as a quarter of their revenue, about $1 billion a year between them, under new limits on the sector from President Joe Biden.
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