Biz/Tech Archives

Robinhood gets $1 billion infusion, signaling cash crunch

January 29, 2021 5:33 AM CNN Newsource

Robinhood raised $1 billion from existing investors just hours after it halted purchases of GameStop, suggesting the free-trading app faced a…

Robinhood to ease trading restrictions. GameStop stock soars 100%

January 29, 2021 4:59 AM CNN

GameStop traders sent the stock on a wild ride Thursday, and it looks set for another manic session Friday. The stock lost more than 44% of its value…

Dogecoin soars 370% as Reddit group works to send the cryptocurrency ‘to the moon’

January 29, 2021 4:55 AM CNN

Dogecoin is the latest target of hyped-up Reddit users. The virtual currency, which originally started as an internet parody based on a viral dog…

Class-action lawsuit filed against Robinhood following outrage over GameStop stock restriction

January 29, 2021 2:23 AM CNN

A Robinhood customer filed a class-action lawsuit against the stock-trading app Thursday after the company barred traders from buying shares of…

AP FACT CHECK: Biden’s fuzzy math on 1 million new auto jobs

January 28, 2021 10:54 PM Associated Press

DETROIT (AP) — Casting his climate policy as a jobs plan, President Joe Biden left out important context and used fuzzy math when he announced…

WallStreetBets founder on stock frenzy: I’m enjoying this from the sidelines

January 28, 2021 8:26 PM CNN

The founder of the subreddit WallStreetBets says he never expected the forum to become the force it is now, with hordes of amateur investors driving…

Reddit investors shake up Wall Street

January 28, 2021 8:21 PM CNN Newsource

Robinhood and other online trading platforms are moving to restrict trading in GameStop and other stocks that have soared recently due to rabid…

Over 200 flights on American Airlines’ regional carrier canceled after temporary FAA grounding

January 28, 2021 8:01 PM CNN Newsource

DALLAS, Texas — PSA Airlines, one of American Airlines’ largest operators of regional flights, has been “temporarily…

Democrats face their first big challenge to stay united with massive Covid-19 relief bill

January 28, 2021 7:38 PM CNN

Senate Democrats are staring down a massive undertaking as they plan to push ahead with reconciliation, a process that will be an early test of party…

Fired Fox News political editor calls out ‘hype men in the media’ who helped Trump attempt to ‘steal an election’

January 28, 2021 7:12 PM CNN Newsource

A longtime Fox News politics editor, who was fired by the network earlier this month after angering former President Donald Trump, rebuked the…

Inside Robinhood, the free trading app at the heart of the GameStop mania

January 28, 2021 6:12 PM CNN

Robinhood’s free-trading revolution helped pave the way to the recent Reddit mayhem on Wall Street. The rise of Robinhood means that the…

Robinhood shuts down GameStop trades, sending stock into a tizzy

January 28, 2021 3:20 PM CNN

GameStop traders sent the stock on a wild ride Thursday. The stock plunged more than 40% Thursday after surging nearly 40% at one point earlier in…

International police effort takes down ‘world’s most dangerous’ malware network

January 28, 2021 2:35 PM CNN Newsource

Law enforcement authorities across several countries have taken down a network of what they describe as the “world’s most dangerous…

ABC News president James Goldston is stepping down

January 28, 2021 2:14 PM CNN Newsource

ABC News president James Goldston, who has led the network news division for the past seven years, is stepping down at the end of March. Goldston…

Amanda Gorman’s three books will get one million first prints due to overwhelming demand

January 28, 2021 1:51 PM CNN Newsource

To meet the demand for Amanda Gorman’s unreleased books, her publisher announced it will print one million copies of each of her three titles.…

2021 just got worse: Now there’s a Grape-Nuts shortage

January 28, 2021 1:36 PM CNN Newsource

If you’re having a hard time finding Grape-Nuts at your local supermarket, you are not alone. The pandemic has come for Grape-Nuts. Supply…

Audit: ‘Significant missteps’ by California unemployment agency led it to pay billions in fraudulent jobless claims

January 28, 2021 12:55 PM Associated Press

SACRAMENTO, Calif. (AP) — An audit of California’s unemployment benefits agency found the state has likely paid $10.4 billion in fraudulent…

Biden’s most important stimulus measure

January 28, 2021 12:30 PM CNN

The US federal government should spend more money, and fast, to fight the Covid-19 pandemic, rescue hard-hit families and help states, cities and…

Gov. Abbott says Texas to sue Biden over oil regulations

January 28, 2021 11:31 AM Jim Parker

ODESSA, Texas — Texas Gov. Greg Abbott on Thursday signaled that the state plans to sue the Biden administration over executive orders it issued…

General Motors to stop making gas-powered cars by 2035

January 28, 2021 11:55 AM Associated Press

DETROIT, Michigan — General Motors has set a goal of making the vehicles it produces all-electric by 2035, and the entire company carbon neutral,…

Southwest Airlines reports first loss in 48 years

January 28, 2021 11:49 AM CNN Newsource

DALLAS, Texas — The last time Southwest Airlines posted an annual loss was 1972, when it was a small upstart airline flying a handful of planes…

Bumble bans body shaming: ‘Find something else to talk about’

January 28, 2021 10:55 AM CNN Newsource

Dating app Bumble has been known for setting its own standards for how people should behave on the internet — from banning shirtless and…

Facebook’s ‘supreme court’ just ruled against Facebook

January 28, 2021 10:54 AM CNN Newsource

Facebook’s court-like Oversight Board overturned several of the company’s decisions to remove content in its first set of decisions since…

Commerzbank to slash 10,000 jobs and close hundreds of branches

January 28, 2021 10:52 AM CNN Newsource

Commerzbank plans to slash its workforce by 10,000 and close 340 branches by 2024 as part of a strategic overhaul. The bank has roughly 48,500…

What if China no longer needs Hollywood? That’s bad news for the film industry

January 28, 2021 10:49 AM CNN Newsource

America has been the king of the box office for, well, forever. Not anymore. In 2020, China overtook the United States to become the top movie market…

McDonald’s sales took a hit from Covid-19 restrictions

January 28, 2021 9:07 AM CNN Newsource

McDonald’s US sales popped in the fourth quarter as guests spent more per order, but international sales took a hit from lockdowns related to…

Where does the GameStop mania end?

January 28, 2021 9:05 AM CNN

From Wall Street to the White House, everyone is watching GameStop shares. What’s happening: Stock in the left-for-dead video game retailer…

Last year’s American economy shrank the most since 1946

January 28, 2021 8:39 AM CNN Newsource

The US economy grew at an annualized and seasonally adjusted rate of 4% in the fourth quarter of 2020, just as economists had predicted, the Commerce…

Another 847,000 Americans filed for unemployment benefits in Joe Biden’s first week as president

January 28, 2021 8:33 AM CNN

America’s unemployment crisis is now President Joe Biden’s problem, and jobless claims in his (partial) first week as president show how…

The Reddit forum that’s freaking out Wall Street briefly went dark, sparking yet another frenzy

January 28, 2021 8:26 AM CNN

The Reddit message board that’s breaking the internet by sending Wall Street into a frenzy was briefly taken private by its moderators on…