James Gorman, chairman and chief executive officer of Morgan Stanley, speaks during a Bloomberg Television interview in Beijing, China, May 30, 2019. Giulia Marchi | Bloomberg | Getty Images (This is a breaking story. Check back for updates.) Morgan Stanley, the Wall Street powerhouse, doubled its quarterly dividend and announced […]
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Judge dismisses FTC and state antitrust complaints against Facebook
A federal court on Monday dismissed the Federal Trade Commission’s antitrust complaint against Facebook, as well as a parallel case brought by 48 state attorneys general, dealing a major setback for the agency’s complaint that could have resulted in Facebook divesting Instagram and WhatsApp. Shares of Facebook rose more than 4% on […]
S&P 500, Nasdaq rise to record highs to start the week led by Facebook
The U.S. stock market set more record highs on Monday, boosted by a court win for Facebook and broad strength in tech stocks. The S&P 500 ticked up 0.23% to 4,290.61 for its third-straight record close, while the Nasdaq rose 0.98% to an all-time closing high of 14,500.51. The Dow […]
Judge dismisses FTC antitrust complaint against Facebook
A federal court on Monday dismissed the Federal Trade Commission’s antitrust complaint against Facebook, dealing a major setback for the agency’s complaint that could have resulted in Facebook divesting Instagram and WhatsApp. Shares of Facebook rose nearly 5% on Monday following the complaint’s dismissal, sending the social media company’s market capitalization above […]
Nasdaq rises to record high as tech stocks climb, Dow falls nearly 200 points
The U.S. stock market struggled for direction on Monday, but a strong start for tech stocks pushed the Nasdaq Composite to another record high. The S&P 500 ticked up 0.2%, on track for a record close, while the Nasdaq rose 0.9%. The Dow Jones Industrial Average slid about 180 points […]
Oklo has a plan to make tiny nuclear reactors that run off nuclear waste
An artist rendering of Oklo’s Aurora powerhouse Image credit: Gensler The face of nuclear energy is changing, and one of the companies working to redefine what nuclear energy looks like is Oklo. The 22-person Silicon Valley start-up has a plan to build mini-nuclear reactors, powered by the waste of conventional […]
State and local tax cap may be here to stay for the highest earners in high tax states
High earners in high tax states cheered the news last week that Sen. Bernie Sanders included relief from the state and local tax cap in his budget. But the numbers suggest Sanders is only considering a partial reduction in the cap. And the latest proposal being discussed in Congress would […]
Biden’s airstrikes send a clear message amid Iran deal talks — but are unlikely to derail them, analysts say
U.S. President Joe Biden delivers remarks after a roundtable discussion with advisors on steps to curtail U.S. gun violence, at the White House in Washington, June 23, 2021. Jonathan Ernst | Reuters The U.S. launched airstrikes into parts of Iraq and Syria overnight, targeting Iranian-backed militias there in response to […]
Fed Vice Chair Quarles casts significant doubt on establishing a digital dollar
With the Federal Reserve set to release a much-anticipated report this summer on the potential creation of a digital dollar, the central bank’s vice chair for supervision said Monday that he has significant doubts about the idea. Fed Governor Randal Quarles expressed skepticism about most arguments made in favor of […]
Airport restaurants, TSA offer $1,000 bonuses in hiring scramble as travelers face long lines
A Starbucks location that was closed midday at Dallas-Fort Worth International Airport. Leslie Josephs | CNBC A worker shortage at Dallas/Fort Worth International Airport became so severe last month that one of its top executives sent a message to shops and restaurants: Don’t steal each other’s employees. “As you know, […]