Dow climbs more than 600 points amid renewed volatility
It’s a strong start to the week on Wall Street, where the Dow has climbed more than 600 points amid a rebound from last week’s losses. The Dow was up 1.8%, or some 610 points, mid-morning, while the broader S&P 500 climbed nearly 1%. The Nasdaq Composite, which faced the steepest selloff Friday, continued to…… MORE
OMG! LOL! BuzzFeed’s trading on the Nasdaq
At Nasdaq Monday, BuzzFeed CEO Jonah Peretti — flanked by Instagram celebrity “Dude with Sign” and people holding oversized yellow “OMG” and “win” signs — rang the opening bell for BuzzFeed’s debut as a public company. Simultaneously at BuzzFeed’s headquarters in New York, an acrobatic cat performed. It was both a celebration of BuzzFeed, the…… MORE
Federal regulators are investigating the Trump SPAC deal
The shell company that is facilitating former President Donald Trump’s return to Wall Street disclosed Monday that federal regulators are investigating the deal. In October, Trump announced a new media venture that would “stand up to the tyranny of Big Tech.” That new entity, chaired by the former president, agreed to go public through a…… MORE
SEC probes Tesla on whistleblower’s claims about solar panel defects
Tesla is under regulatory investigation after a whistleblower alleged the company failed to properly disclose fire risks associated with solar panel defects. The investigation raises regulatory pressure on the world’s most valuable automaker, which already faces a federal safety probe into accidents involving its driver assistant systems. Concerns about fires from Tesla solar systems have…… MORE
Hong Kong warns Wall Street Journal of legal action over election editorial
Hong Kong has warned the Wall Street Journal that it may have broken electoral law by “scaremongering” in a recent editorial about the upcoming vote for the city’s legislative council. On Monday, the US newspaper printed a letter from Hong Kong’s Secretary for Constitutional and Mainland Affairs, Erick Tsang, under the headline “Hong Kong Issues…… MORE
New York to mandate Covid vaccines for all private sector workers
All private sector employers in New York City will now be required to implement a Covid-19 vaccine mandate by December 27, the city’s mayor Bill De Blasio announced Monday. Public sector workers were already subject to vaccine mandates. This new move, which De Blasio announced Monday on MSNBC, means everyone who works in the city…… MORE
Bitcoin’s plunge is another sign of market angst
Over the past week, as markets were churning on fears that the Omicron variant could derail the global economic recovery, bitcoin prices stayed surprisingly stable. Then came the weekend. What’s happening: The cryptocurrency at one point plunged more than 20% on Saturday. It’s now trading at roughly $48,600, down from about $57,000 at the beginning…… MORE
DoorDash thinks speedy grocery delivery is the future
DoorDash is jumping on the speedy delivery trend. Starting Monday, the company is offering 10- to 15-minute delivery in New York City from a new Dashmart, which stocks groceries, household goods and packaged restaurant products. Customers within the delivery zone will see the new option under a “convenience” tab in the app or on the…… MORE
KFC is testing a new dipping sauce in these three cities
Kentucky Fried Chicken is testing a new dipping sauce in three US cities. Beginning Monday, customers in Washington, Atlanta and Dallas can add “Sweet Hot Capital City” mambo sauce to their orders for a limited time. The chain describes the flavor as “sweet, spicy and tangy,” and one that “perfectly compliments” its fried chicken. DC…… MORE
Lucid Motors subpoenaed by the SEC. Shares plunge
Upstart electric vehicle maker Lucid Motors disclosed Monday it has received a subpoena from the SEC, sending its shares plunging 14% in premarket trading. The company said the probe “appears to concern” the SPAC deal that took it public earlier this year, along with “certain projections and statements.” Lucid raised $4 billion through its combination…… MORE
