What happened With reports that a possibly very threatening variant of the coronavirus has been found in southern Africa (certain countries have already enacted restrictions on visits), travel stocks really took it on the chin Friday.
China must prevent and defuse the risk of external shocks this year while strengthening macro-prudential management and guiding market expectations, the country's foreign exchange regulator said on Friday. The comments come as the U.S. Federal Reserve is widely expected to start hiking interest rates as early as March, while its Chinese counterpart has stepped up monetary easing to prop up a slowing economy, raising concerns about possible capital outflows due to the policy divergence. During the previous round of Fed tightening in 2018, China's currency depreciated sharply.
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WASHINGTON (AP) — Congress has taken a new step toward reining in the market dominance of Big Tech. Bipartisan legislation advanced by a Senate panel would bar the dominant online platforms from favoring their own goods and services over those of rivals. It could, for example, prevent Amazon from steering consumers to its own brands and away from competitors’ products on its giant e-commerce platform. The bill also could bring restrictions for Google’s search engine, which accounts for about 90%
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The workers went on a strike on Jan. 12 after rejecting at least two offers from the grocery chain. The union had rejected a $170 million offer made last week by Kroger, which termed it as the "last, best and final offer". Rising COVID-19 infections and inflation have pushed U.S. workers to demand better working conditions and higher pay, with employees at Deere & Co and Kellogg Co's cereal plants recently securing better deals after weeks of strike.
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Twitter Inc on Thursday announced the launch of a tool through which users can showcase non-fungible tokens (NFTs)as their profile pictures, tapping into a digital collectibles craze that has exploded over the past year. The feature, available on iOS to users of the company's Twitter Blue subscription service, connects their Twitter accounts to crypto wallets where the users store NFT holdings. Twitter displays the NFT profile pictures as hexagons, differentiating them from the standard circles available to other users.
Wall Street's main indexes ended sharply lower on Friday as Netflix shares plunged after a weak earnings report, capping a brutal week for stocks that saw the S&P 500 and Nasdaq log their biggest weekly percentage drops since the onset of the pandemic in March 2020. The benchmark S&P 500 posted its third straight week of declines, ending 8.3% down from its early January record high. Losses also deepened for the Nasdaq after the tech-heavy index earlier in the week confirmed it was in a correction, closing down over 10% from its November peak.
BEIJING (AP) — China on Friday criticized Washington for imposing sanctions on Chinese companies the U.S. says exported missile technology, and accused the United States of hypocrisy for selling nuclear-capable cruise missiles. The United States announced penalties on three companies it said were engaged in unspecified “missile technology proliferation activities." It said they were barred from U.S. markets and from obtaining technology that can be used to make weapons. “This is a typical hegemo
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Gorman's total compensation will include an annual base salary of $1.5 million, a cash bonus of $8.38 million, a deferred equity award of $5.03 million and a performance-based equity award of $20.1 million, according to a regulatory filing. On Thursday, the board of JPMorgan Chase & Co gave a 9.5% raise to CEO Jamie Dimon, bringing his total compensation for 2021 to $34.5 million.
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Canada Post today unveiled a special stamp to honour acclaimed Canadian jazz singer Eleanor Collins. The Edmonton-born artist began performing in concert venues and on radio in the 1940s and broke new ground in her genre by becoming a star in television's early days.
NEW YORK (AP) — A Florida man who helped Rudy Giuliani seek damaging information against Joe Biden in Ukraine was sentenced to a year and a day in prison and fined $10,000 Friday in an unrelated campaign finance case. Igor Fruman was told to report to prison March 14. He pleaded guilty in September to a single charge of solicitation of a contribution by a foreign national. As part of the plea, he admitted soliciting a million dollars from a Russian entrepreneur, Andrey Muraviev, to donate to Rep
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