CNBC’s Rick Santelli starts shouting match on air over Covid-19 restrictions
CNBC anchor Rick Santelli is once again under fire for misguided comments about coronavirus after a screaming match erupted on air Friday morning during a discussion about how businesses are coping with the pandemic. Santelli argued that it didn’t make sense for restaurants to shut down to prevent the spread of Covid-19 when big-box retailers…… MORE
Cannabis got a big win in Congress, but legal weed isn’t around the corner
Cannabis just had a victory in Congress. But the industry and its supporters may not want to get too excited yet. The US House of Representatives on Friday passed a bill to end the federal prohibition on cannabis. But the historic vote on the landmark legislation — which if put into law would be momentous…… MORE
Cheesecake Factory settles charges it misled investors about how badly Covid-19 was hitting its business
The Cheesecake Factory has agreed to pay a fine of $125,000 to settle Securities and Exchange Commission charges of misleading investors about the toll the coronavirus pandemic has taken on its business. In March and April, when many restaurants were instructed to close their doors in an effort to curb the spread of the novel…… MORE
Four more states just legalized recreational weed. Here’s how long you’ll have to wait to buy it
In a matter of hours on election night, recreational cannabis measures got the go-ahead in four more states: Arizona, Montana, New Jersey and South Dakota. That doesn’t mean that people in those locations can legally buy weed for non-medical use just yet. Although the moves at the ballot box further bolster the $19 billion US…… MORE
£50 billion in UK banknotes is ‘missing.’ Nobody has an explanation
Here’s a head-scratcher: The use of cash has been declining for years in Britain, but demand for banknotes is skyrocketing. Nobody is quite sure where the money is going. A group of UK lawmakers said on Friday as much as £50 billion ($67.4 billion) in cash was “missing,” and it urged the Bank of England…… MORE
Elon Musk will love this: Tesla short sellers lost more than the US airline industry this year
The incredible year for Tesla stock has created a bloodbath for those shorting its shares. According to analysis by S3 Partners, short investors in Tesla— those who placed bets in the market that its shares would lose value — have lost $35 billion on those positions so far this year. “There’s nothing that compares to…… MORE
Stocks rally to new record highs on jobs day
Stocks soared to new all-time highs Friday — even though the government reported a lower-than-expected increase in jobs in November. Investors appear to be betting that the weaker jobs gains will put more pressure on the outgoing Trump administration and Congress to approve more stimulus before Joe Biden is inaugurated next month. The Dow was…… MORE
What’s next for America’s favorite news podcast
The New York Times’ podcast “The Daily” typically airs every day of the week except for Saturdays. But on November 7, a major news event took place that warranted a special Saturday episode. That event also proved to be a turning point in the podcast’s history. “Alex, Maggie, Jim, thank you for joining us on…… MORE
More oil is about to hit markets. Wall Street isn’t scared
Saudi Arabia, Russia and other oil producing countries have agreed to start pumping more oil next month, even as the coronavirus pandemic continues to cloud the outlook for demand. But that’s not dissuading investors, with crude prices at their highest level since early March. What’s happening: Brent crude futures, the global benchmark, are trading at…… MORE
The US added just 245,000 jobs in November as labor market stalls
The US economy added 245,000 jobs in November on a seasonally adjusted basis, the Bureau of Labor Statistics reported Friday. It was 224,000 fewer than economists had expected, as the recovery continues to slow. The unemployment rate inched down to 6.7%, from 6.9% in October. But the drop occurred because more workers left the labor…… MORE
