Friday’s “anemic” jobs report (just 49,000 jobs added in January, and precious few of those in the private sector) “underscored the pandemic’s brutal damage to the job market” and likely made President Biden’s sale of his...more
Optimism over promising results for a coronavirus vaccine from Moderna helped drive stocks up on Monday after a rough go of it last week....more
Wells Fargo & Co. agreed to pay a total of $3 billion to resolve criminal and civil investigations by the DOJ and SEC. Wells Fargo admitted “that it took millions in wrongful fees and interest, misused customer information...more
True, the economic headwinds weren’t its fault, but boy—not a banner debut for Uber after years of speculation and waiting....more
Sears marked the end of an era today, as the store that “more than a century ago pioneered the strategy of selling everything to everyone” filed for bankruptcy protection early this morning....more
Markets took a beating yesterday, with investors apparently put off by tech stocks, tensions with China, a recent jump in interest rates and government bond yields, and a tightening Fed monetary policy....more
In what can only be described as a Lazarus-like return, the Ex-Im Bank is reportedly nearly back on its feet again. The White House has chosen Kimberly Reed to helm the agency after prior nominee Scott Garrett was rejected by...more
Meet ZTE (well, meet them again. We’ve discussed them before), the massive Chinese electronics maker banned last month by the White House from using US-made components that could well be the “first casualty of the high-tech...more
So much for the quiet off-ramping for SoFi’s Mike Cagney. The fintech company’s board announced on Friday that Cagney is out immediately as CEO, not at the end of the year as Cagney had announced earlier in the week....more
Along with this week’s news that Amazon and Whole Foods are putting the finishing touches on their deal and have the government’s stamp of approval came word that as of Monday, the first official day of Amazon control, the...more