Month: June 2022
U.S. holds ‘candid’ and ‘productive’ talks with China in nearly 5-hour meeting
Jake Sullivan, White House national security adviser, speaks during an interview at an Economic Club of Washington event in Washington, D.C., U.S., on Thursday, April 14, 2022. Al Drago | Bloomberg | Getty Images WASHINGTON — National security adviser Jake Sullivan met with China’s top diplomat, Yang Jiechi, on Monday to discuss a range of […]
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BlockFi, the Peter Thiel-backed crypto lending start-up, cuts 20% of its staff as bitcoin plunges
The logo of cryptocurrency platform BlockFi. Budrul Chukrut | SOPA Images | LightRocket via Getty Images Crypto lender BlockFi is cutting around 20% of its staff as the company reckons with a dramatic downturn in digital currencies and heightened concerns about a weakening economy. CEO Zac Prince said in a tweet Monday that BlockFi has […]
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Warren Buffett’s son donates $2.7 million for Ukraine aid after meeting with Zelenskyy
Howard Buffett, son of billionaire investor Warren Buffett, is donating millions of dollars from his foundation in support of Ukraine after meeting with President Volodymyr Zelenskyy. The Howard G. Buffett Foundation donated $2.7 million to the citizen-funded nonprofit Spirit of America, which is delivering nine 50-passenger buses to the Ukrainian Territory Defense Forces. The Buffett […]
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Latest Shanghai quarantines add more pressure to global supply chain
Staff members of China Post unload parcels of daily necessities for residents quarantined at home from a minivan on May 14, 2022 in Shanghai, China. Tian Yuhao | China News Service | Getty Images The mass quarantine measures imposed this past weekend in Shanghai, including highway closures, severely affected trucks carrying exports bound for the […]
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Charles Schwab to pay $187 million to settle SEC charges that it misled robo-advisor clients on fees
The U.S. Securities and Exchange Commission headquarters in Washington on Feb. 23, 2022. Al Drago/Bloomberg via Getty Images Charles Schwab agreed to pay $187 million to settle an SEC investigation into alleged hidden fees charged by the firm’s robo-advisor, Schwab Intelligent Portfolios, according to an agency announcement on Monday. “Robo-advisor” is shorthand for a digital […]
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FAA requires SpaceX to make environmental adjustments to move forward with its Starship program in Texas
A Starship prototype stands on the company’s launchpad in Boca Chica, Texas on March 16, 2022. SpaceX The Federal Aviation Administration on Monday concluded a long-awaited assessment of SpaceX’s Starship rocket program in Texas, requiring Elon Musk’s company to make environmental adjustments in order to move forward with its plans. FAA released two key documents […]
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Former Attorney General Bill Barr says Trump would not listen when he told him election fraud claims were false
Former U.S. Attorney General Bill Barr is seen on video during his deposition for the public hearing of the U.S. House Select Committee to Investigate the January 6 Attack on the United States Capitol, on Capitol Hill in Washington, U.S., June 9, 2022. REUTERS/Jonathan Ernst Jonathan Ernst | Reuters Former Attorney General William Barr picked […]
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Amazon says it will begin delivering packages by drone in California later this year
Amazon Prime Air drone Source: Amazon Amazon said Monday it will begin to deliver products using Prime Air drones in Lockeford, California, later this year. It’s the first time the company plans to use drones for customer deliveries in the United States. The company received approval in 2020 from the Federal Aviation Administration to fly […]
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Recession could hit this year so buy defensive dividend stocks, Wolfe Research says
It’s time for investors to snap up defensive dividend stocks as a recession could hit later this year, according to Wolfe Research. Wolfe analysts said in a note Monday that believe a recession could turn up as early as the fourth quarter, though they maintained that their base case is for a downturn in 2023. […]
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Morgan Stanley CEO James Gorman sees 50-50 odds of recession ahead
Morgan Stanley Chairman and Chief Executive James Gorman speaks during the Institute of International Finance Annual Meeting in Washington, October 10, 2014. Joshua Roberts | Reuters The odds of a recession may be climbing as the Federal Reserve wrangles with inflation, but it’s unlikely to be a deep one, according to Morgan Stanley CEO James […]
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