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“#GameStop shares soar 93 percent as frenzy continues” Individual investors continued to pile into niche stock market plays on Tuesday, causing a scramble by short-seller funds to cover losing bets, with companies like GameStop skyrocketing 93 percent — the fourth straight day of increases — even as others caught up in the buying frenzy reversed…
“#BlackRock’s Larry Fink urges companies to plan for climate change” Larry Fink is telling companies he invests in to show him how they will combat climate change — or else. In his annual letter to shareholders, the billionaire chief executive of BlackRock said his $8.7 trillion fund will require companies it invests in to “disclose…
“# Reddit investing group triggers crypto-style 860% rally in GameStop stock ” Since Jan. 22 GameStop has been attracting a lot of attention from the mainstream news as the stock (GME) for the popular video game retailer rallied 860% from $17.40 on Jan. 4 to a high of $159.18 on Jan. 25. On Jan. 25…
“#NYC’s pension funds to divest $4 billion from fossil fuels” New York City’s largest pension funds have voted to divest their portfolios of an estimated $4 billion from securities related to fossil fuel companies, Mayor Bill de Blasio, Comptroller Scott Stringer, and trustees of two of the city’s pension funds said. “The New York City…
“#Wall Street’s luck runs out with Biden’s SEC head Gary Gensler” Among corporate America’s biggest worries about a Biden presidency was that he might cave to the left wing of his party and select Elizabeth Warren as his top white-collar-crime cop. Well, the corporate chieftains dodged that bullet, only to find themselves now in the…
“#Wall Street bigs press for speedier COVID vaccine rollout in NY” New York City’s business leaders are concerned about the state’s troubled COVID vaccine rollout — and they’re offering to mobilize their clout and resources to help speed it up. Reps from dozens of city-based firms led by Goldman Sachs chief David Solomon held a…
“#Stocks hit all-time high, Biden breaks Hoover’s record for gains” US stocks closed at record highs Wednesday as Joe Biden was sworn in as the 46th president — with the new commander-in-chief setting a record for stock gains between his election and his inauguration. The benchmark S&P 500 index rallied 1.4 percent to a record close…
“#Netflix tops 200 million subscribers at end of 2020” Netflix’s video streaming service has surpassed 200 million subscribers for the first time as its expanding lineup of TV series and movies continues to captivate people stuck at home during the ongoing battle against the pandemic. The subscriber milestone highlighted Netflix’s fourth-quarter results released Tuesday. The…
“#Wall Street ready for Janet Yellen’s return to economic power” Despite some tough talk from Janet Yellen during her first confirmation hearing to take over the Treasury Department, Wall Street appears eager to have her back. During more than three hours of testimony on Tuesday, Yellen pressed the case for the Biden administration’s $1.9 trillion…
“#Intelsat Chairman David McGlade faces insider- trading suit” The chairman of satellite operator Intelsat is being sued for insider trading in an explosive new shareholder lawsuit that also dings private-equity giants BC Partners and Silver Lake Partners, an owner of the New York Knicks. The Oakland, Calif., federal court lawsuit claims that David McGlade, Intelsat’s…