Shares of GameStop and AMC Entertainment soared for a fourth day, forcing hedge funds to retreat from heavy losses and sparking calls for scrutiny of a social media-driven trading frenzy.
Business & Financial News, U.S & International Breaking News
U.S. warns of heightened domestic terrorism threat after presidential inauguration
The United States faces a heightened threat of domestic terrorism from people disgruntled with the outcome of the November presidential election, the Department of Homeland Security said on Wednesday.
Biden to pause oil and gas leases, cut subsidies in climate action
President Joe Biden was set on Wednesday to sign executive actions to combat climate change, including pausing new oil and gas leases on federal land and cutting fossil fuel subsidies as he pursues green policies in stark contrast to those of his predecessor Donald Trump.
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.
Dow, S&P 500 sink 1% on Boeing results, short squeeze
The Dow and the S&P 500 slid more than 1% on Wednesday as Boeing slumped on posting a record annual loss, while declines were exacerbated by hedge funds selling off long positions to cover a short squeeze sparked by a sharp rally in GameStop and AMC.
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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