Terra crash sharpens Washington’s attention on crypto regulations

The collapse of the stablecoin TerraUSD USTUSD, + 1.64% has made waves in Washington, attracting the attention of the nation’s top policymakers and adding urgency to an ongoing debate in Congress about cryptocurrency regulation. At its peak in early May, TerraUSD, also known by its ticker UST, was the third most popular stablecoin, with a … Read more

15 stocks that have fallen at least 33% but by these measures are still standouts in their sectors

During a year in which more than half of the stocks in the S&P 500 Index have declined 10% or more, you have probably seen the term “oversold” being bandied about. But what does oversold really mean? It means you think a stock has dropped too much, based on some quality you expect to fuel … Read more

The clock is running out for Congress to pass Big Tech antitrust bills this year

Nearly three years ago, when the Justice Department and Federal Trade Commission launched probes into the business practices of Big Tech, antitrust experts and legal talking heads declared a new age in enforcement and a chastening of unbridled financial power. But a pandemic and countless bill markups later – amid feverish lobbying efforts by Apple … Read more

Natural-Gas Prices Soar in Europe After Russia Sanctions Energy Companies

Natural-gas prices in Europe shot higher Thursday, a day after Russia unveiled a set of sanctions on energy companies operating on the continent that could further threaten supply. Among the companies sanctioned by Moscow were former subsidiaries of Russian state gas giant Gazprom PJSC in the European Union and the Polish owner of a key … Read more

Jared Kushner’s New Fund Plans to Invest Saudi Money in Israel

Jared Kushner’s new private-equity fund plans to invest millions of dollars of Saudi Arabia’s money in Israel startups, according to people familiar with the investment plan, in a sign of warming ties between two historic rivals. Affinity Partners, which has raised more than $ 3 billion, including a $ 2 billion commitment from the kingdom’s … Read more

Fed, Biden Administration Float New Lending Rules for Lower-Income Areas

WASHINGTON — Top US banking regulators are poised to overhaul how banks lend hundreds of billions of dollars annually in lower-income communities, after scrapping a Trump-era revamp that had divided regulators and industry officials. The latest proposal to modernize rules for the 1977 Community Reinvestment Act is set to be announced Thursday and aims to … Read more

Uber’s Revenue Doubles, but Stock Falls After Lyft Warns of Higher Driver Costs

Uber Technologies Inc.’s UBER -4.65% revenue more than doubled last quarter, as demand for rides rebounded from the downturn caused by the Covid-19 surge late last year and the company’s food delivery grew despite restaurant reopenings. Uber issued a bullish outlook for the current quarter, but its shares fell about 5% Wednesday, triggered in part … Read more

Some economists say a recession is inevitable. Should you pay off your mortgage now? Consider these factors first.

An economic downturn appears to be in the cards. And that could put some homeowners in a tight spot. Fears of a recession were stoked last week when data showed that the US economy shrank in the first quarter at a 1.4% annualized rate. Roger Ferguson, who previously served as Federal Reserve governor, said that … Read more

With interest rates rising, it’s time to focus on MANG stocks instead of FAANG, according to Jefferies

Heading into the Federal Open Market Committee’s policy meeting, analyzes at Jefferies on May 3 advised investors to avoid the popular FAANG + Microsoft group of stocks. They pointed instead to a group they named MANG. We’ll compare the two groups below. The FAANG group – Facebook holding company Meta Platforms Inc. FB, Apple Inc. … Read more

South Africa hit by new subvariants of omicron that have been detected in the US in small numbers

A surge in COVID-19 cases in South Africa fueled by two new subvariants of omicron has raised concerns that they are even more transmissible than the BA.2 strain which has been dominant in the US since early April. The BA.4 and BA.5 subvariants have led to a tripling of cases in South Africa in the … Read more