Apple Inc Chief Executive Officer Tim Cook on Thursday criticized polarization and misinformation on social media, intensifying a conflict between the iPhone maker and Facebook Inc.
Wall Street was contemplating big wins from the Reddit-fueled retail frenzy in stocks such as GameStop on Thursday, even though many hedge funds in its ranks were nursing losses.
The clash between retail traders and Wall Street professionals that sparked roller coaster rides in the shares of GameStop Corp may pose a risk to dozens of other stocks and potentially create a headache for the broader market, analysts said.
Wall Street's main indexes jumped on Thursday as mega-cap technology stocks tried to regain lost ground following a sharp sell-off after fears eased around hedge funds selling off long positions to cover a short squeeze.
Social media chatrooms are beginning to resemble the squawk boxes on old-fashioned trading floors, as a new generation of retail traders continues to gain influence over the stock market.
US economy shrank 3.5per cent in 2020 after growing 4per cent last quarter
Facebook Inc's independent oversight board made its first binding decisions on Thursday, overruling the company's actions in four of the five cases it reviewed. https://www.oversightboard.com/news/165523235084273-announcing-the-oversight-board-s-first-case-decisions
Video games fan Elon Musk gave shares in Polish games producer CD Projekt a further boost on Thursday after the company's update of its flagship game prompted short sellers to close positions earlier in the week.
A sustained rise in global oil prices has U.S. shale producers pondering something few expected to be considering after last year's tumble: how to allocate rising cash flows among new production, dividends and stock buybacks.
Domestic consumption of distilled spirits in the United States rose sharply last year as people splurged on premium spirits, although American whiskey exports fell due to retaliatory tariffs from Europe, a U.S industry trade body said on Thursday.
