Former Federal Reserve Bank of Atlanta President Dennis Lockhart reveals his expectations for Treasury Secretary Janet Yellen’s meeting with regulators on Robinhood and a new stimulus package in Washington. Online brokerage app Robinhood said on Thursday it has removed temporary trading restrictions on all stocks, including GameStop Corp and AMC Entertainment Holdings […]
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Pinterest beats estimates on ad spending recovery, strong user growth
Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. Image-sharing company Pinterest Inc reported better-than-expected quarterly results on Thursday, benefiting from strong user growth and heavy advertising by e-commerce retailers during the holiday season. Continue Reading Below Shares of the company jumped nearly 10% in extended trading as […]
Retail frenzy stalls as focus falls on regulator meeting
Sources tell FOX Business’ Charlie Gasparino that hedge funds are worried that Congress may force laws restricting trading practices, including short selling. Stocks at the heart of a recent buying frenzy driven by social media slipped in thin European trade on Thursday, adding to the sense that their spectacular rallies […]
PayPal profit tops estimates as pandemic drives online spending to record levels
Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. PayPal Holdings Inc beat Wall Street estimates for quarterly profit on Wednesday, with a coronavirus-driven shift to online shopping and digital transactions driving record levels of payment volumes for both the quarter and the year. Continue Reading Below […]
Two Google engineers resign over firing of AI ethics researcher
Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. An engineering director and a software developer have quit Alphabet Inc’s Google over the dismissal of AI researcher Timnit Gebru, a sign of the ongoing conflicts at the search giant over diversity and ethics. Continue Reading Below David Baker, […]
McKinsey agrees to settle claims over role in opioid crisis: report
Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. Consulting firm McKinsey & Co has agreed to pay $573 million to resolve claims by more than 40 U.S. states related to its role in the opioid epidemic and advice it gave to OxyContin maker Purdue Pharma, according to […]
Sony raises profit outlook by a third amid coronavirus home entertainment boom
Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. Japanese electronics and media giant Sony Corp on Wednesday hiked its full-year profit outlook by a third as it taps surging demand for video games, music and movies as people feast on home entertainment amid COVID-19 lockdowns. Continue Reading […]
Chipotle’s profit misses estimates as COVID-19 costs mount
Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. Chipotle Mexican Grill Inc on Tuesday missed Wall Street estimates for quarterly profit, hurt by costs related to keeping its business running during the COVID-19 pandemic, with the burrito chain’s shares falling nearly 2% in after-hours trading. Continue […]
Treasury Secretary Yellen to call regulator meeting on GameStop volatility
Sources tell FOX Business’ Charlie Gasparino that hedge funds are worried that Congress may force laws restricting trading practices, including short selling. WASHINGTON – U.S. Treasury Secretary Janet Yellen is calling a meeting of key financial regulators this week to discuss market volatility driven by retail trading in GameStop and other […]
Alphabet shares jump as ad, Cloud sales soar amid pandemic
FOX Business’ Susan Li on her conversation with Alphabet CEO Ruth Porat covering quarterly earnings, cloud revenue and anti-trust suits. Google parent Alphabet Inc on Tuesday reported record revenue for the second straight quarter despite the pandemic, driving shares up 6% as it topped estimates for both advertising and Cloud […]