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Business News

Location American Business News for 27 February 2021
Goldman Sachs CEO David Solomon wants more face time; job cuts are back at Bank of America Here's this week's top Wall Street news, including the latest hires and exits and how Goldman is thinking about remote work for summer analysts.
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"Eventually the party ends, and many business 'emperors' are found to have no clothes," the billionaire investor and Berkshire Hathaway CEO said.
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Fidelity's Charitable Arm Wins in Hedge-Fund Founders' Lawsuit

Wall Street Journal - 27 Feb 2021 04:04
Fidelity's Charitable Arm Wins in Hedge-Fund Founders' Lawsuit Malcolm and Emily Fairbairn failed to prove their allegations that Fidelity broke its promises or engaged in negligent trading, a U.S. magistrate judge ruled.
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Facebook privacy settlement gets final approval. Nearly 1.6 million Illinois users will 'expeditiously' get at least $345. A California federal judge issued final approval Friday in a $650 million Facebook class action privacy settlement, with an order to get at least $345 to each of nearly 1.6 million Illinois class members "as expeditiousl...
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Spanish Bittrex Customer Says Exchange 'Allowed' Theft of His Bitcoin A Spanish court has given the Tenerife police permission to look into the case of an alleged Bittrex customer who claims the crypto exchange is at fault in the case of the "theft" of around USD 62,000 worth of bitcoin (B...
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Explainer: Why rising rates are unsettling Wall Street

New York Post - 27 Feb 2021 02:51
Explainer: Why rising rates are unsettling Wall Street Yes, it's possible to have too much of a good thing, and that's exactly why stock markets around the world are getting so unsettled. Optimism for an economic revival is surging following a year of coronavirus-induced mis...
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House Democrats hope to clear President Joe Biden's $1.9 trillion economic package late today and send it on to the Senate, where it will face some changes.
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The Blast Ring By Beirut Jeweler Nada Ghazal Tells A Story Of Resilience Six months ago, as the dust settled after the chemical explosion that brought Beirut to its knees, designer Nada Ghazal put pen to paper to design a ring representing the resilience and strength of a city that will not b...
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Because of its colonial past, the UK has a duty to help residents of Hong Kong The British government must acknowledge its role in the oppression of Hong Kong, as its citizens are being thrown in jail.
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Why Is Cancelling Student Loans Important To You? Should your student loans get cancelled?
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The White House is beginning to look past recreational marijuana use to fill key Biden administration roles Previous users who secure a position must agree to not use pot during their tenure in office and undergo random drug tests, NBC News reported.
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The bond market is in rebellion over Biden's stimulus - but not because it would be bad for the economy With the real unemployment rate hovering near 10% and lockdowns in place, the Treasury market is expecting a rapid return to pre-pandemic strength.
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Berkshire Hathaway's Earnings Slowed Last Year

The New York Times - 27 Feb 2021 15:52
Berkshire Hathaway's Earnings Slowed Last Year But its results were bolstered by a soaring stock market in the fourth quarter, Warren Buffett said in his annual letter to investors.
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Warren Buffett's Berkshire Hathaway Sees Profit Rise 23%

Wall Street Journal - 27 Feb 2021 15:33
The conglomerate's fourth-quarter profits rose to $35.8 billion on the back of a soaring stock market.
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Bitcoin had an epic run throughout February. Insider takes a look back at a historic rally in the world's most popular cryptocurrency.
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San Francisco's school board used inaccurate history to rename schools that haven't even been open in a year.
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This Fund Crushes ETFs And Pays 7.1%

Forbes - 27 Feb 2021 14:40
This Fund Crushes ETFs And Pays 7.1% One of the great things about closed-end funds (CEFs) is that there's one out there we can use to tap just about any trend.
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Crypto Exchanges Scale, But Outages Likely To Remain A Fact Of Life Exchanges have been the epicenter of the recent crypto bull market, facilitating the surge of bitcoin (BTC) and other coins towards new all-time highs. However, while they have almost certainly profited from the record p...
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Fidelity's Charitable Arm Wins in Hedge-Fund Founders' Lawsuit

Wall Street Journal - 27 Feb 2021 04:04
Malcolm and Emily Fairbairn failed to prove their allegations that Fidelity broke its promises or engaged in negligent trading, a U.S. magistrate judge ruled on Friday.
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NYSE Moves to Delist Chinese Oil Company

Wall Street Journal - 27 Feb 2021 01:48
Trading in Cnooc Ltd. will be halted March 9 as the Biden administration lets a Trump-era executive order targeting certain Chinese firms stand.
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GameStop Stock (GME) Price Rise Is Enticing, But Misleading - Don't Get Trapped That GameStop 150% stock price rise last week is a "gotcha" jump
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Student Loan Cancellation Excluded From New Stimulus Package Will your student loans get cancelled?
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