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 still in crisis-fighting mode as 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.
White House vows to protect U.S. telecoms network from Huawei security threat
The Biden administration will work to safeguard American telecoms networks from "untrusted vendors" like Huawei Technologies Co Ltd that threaten national security, the White House said on Wednesday, offering some insight into its plans for China's top telecoms equipment company, long in Washington's crosshairs.
Explainer: Why Trump's post-presidency perks, like a pension and office, are safe for the rest of his life
The impeachment proceeding against Donald Trump on a charge of inciting the Jan. 6 attack on the U.S. Capitol has fueled speculation online that he could lose some of the benefits extended to former presidents.
Fiat Chrysler to plead guilty, pay $30 million to resolve U.S. criminal labor probe
Fiat Chrysler said on Wednesday it will plead guilty to charges it conspired with company executives to make illegal, lavish gifts to United Auto Workers (UAW) leaders and undermined workers' confidence in collective bargaining.
Police detain brother of jailed Kremlin critic and search properties, say Navalny allies
Police in Moscow detained Oleg Navalny, the brother of jailed Kremlin critic Alexei Navalny, and searched the homes of the opposition politician's associates and other properties linked to him, his allies said.
American actress Cloris Leachman dead at age 94
American actress Cloris Leachman, who won eight Emmys for her work on "The Mary Tyler Moore Show" and other television programs as well as an Academy Award for "The Last Picture Show," died on Wednesday at the age of 94, her representatives said.
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