Category: Business

U.S. stocks fell on Friday as technology shares sold off for a third day in a row, while all three major U.S. indexes posted a third straight week of declines. It was the Nasdaq’s first such weekly streak since August 2019, and S&P 500 and Dow’s first since early October 2019. Apple Inc AAPL.O, Microsoft […]

A large options player which some market watchers call the “Nasdaq whale” unwound bets on several technology-related companies on Friday after the sector’s recent sell-off. The investor closed a position in a bullish call options spread on Adobe Inc ADBE.O at a loss of roughly $200,000. The spread represented around $935 million of notional value. […]

Look who is not freaking out. Since July, TikTok users have braced for a threatened ban of the ultra-popular short-form video app in the United States, with some opening accounts on rival platforms and encouraging friends to do the same. Then early on Friday Reuters broke the news that the U.S. government was preparing to […]

A federal judge narrowed Tesla Inc’s TSLA.O lawsuit against a former employee it accused of hacking into its computers and leaking proprietary data to a reporter. The judge also dismissed a defamation counterclaim by the former employee. In a decision on Thursday, Chief Judge Miranda Du of the federal court in Reno, Nevada said Tesla […]

Global equity markets slid on Friday as investors sought direction after this week’s U.S. Federal Reserve meeting and a jump in coronavirus cases in Europe rattled sentiment, while gold rose and safe-haven buying lifted the Japanese yen. The dollar posted its fifth straight day of declines against the yen as Japan’s monetary policy of yield […]

Federal Reserve policymakers on Friday began fleshing out what their new tolerance for inflation will mean in practice, an issue critical to how investors and households reshape their own outlooks even if it may not be relevant to any immediate decisions by the U.S. central bank. The new policy, laid out in a strategic document […]

U.S. banks got their second bailout in little more than a decade when Congress cut checks to millions of Americans to help them through the coronavirus crisis, Minneapolis Federal Reserve President Neel Kashkari said on Friday, calling for a new round of reforms to prevent it from happening again. “I applaud Congress’ bold actions to […]