Robinhood tells customers it will allow ‘limited buys’ amid GameStop, AMC trading frenzy
Robinhood, the online trading platform at the center of a speculative frenzy involving shares of GameStop, AMC and other flailing companies, told its customers Thursday that it would be allowing “limited buys” of these companies starting Friday.
GameStop stock explained: Here’s what short selling is and why it’s shaking up Wall Street
Amid the recent astronomical surge in value of shares of struggling companies like GameStop and AMC, trading strategies like short selling and short squeezing have been trending all over social media, leaving many scrambling to keep up. Here’s what you need to know to understand what’s going on.
Protests at Menlo Park's Robinhood app after trading halted
A small group of investors protested outside Robinhood in Menlo Park on Thursday after the stock trading app halted the ability of its users to buy certain stocks that have seen unprecedented gains in the last week.
GameStop stock frenzy: Robinhood, others limit trading, sparking lawsuit and Senate panel hearing
Robinhood and other online trading platforms moved to restrict trading in GameStop and other stocks that have soared recently due to rabid buying by smaller investors.
US economy shrank 3.5% in last year after growing 4% last quarter
Stuck in the grip of a viral pandemic, the U.S. economy grew at a 4% annual rate in the final three months of 2020 and shrank last year by the largest amount in 74 years.
Unemployment claims drop; still at 847,000 as pandemic rages on
The number of Americans applying for unemployment benefits fell to a historically high 847,000 last week, a sign that layoffs remain high as the coronavirus pandemic continues to rage.
Legislators demand answers from EDD, Bank of America over unemployment cases
An assembly subcommittee overseeing the Employment Development Department, got an earful when EDD went so far as to claim that its old backlog has been cleared up.
Biden signs executive order for government to buy more US goods
President Joe Biden signed on Monday an executive order that aims to boost government purchases from U.S. manufacturers, according to administration officials.
Stimulus checks and your 2020 taxes: All of your questions, answered
The federal government has delivered two stimulus checks to tens of millions of Americans as part of an effort to blunt the economic pain triggered by the coronavirus pandemic, but many are wondering how the payments could affect your 2020 taxes as filing season approaches.
Biden signs more executive orders, targeting COVID-19 economic relief
Joe Biden’s ambitious opening bid, his $1.9 trillion American Rescue economic package, will test the new president’s relationship with Congress.
Biden's Treasury secretary nominee Janet Yellen clears Senate committee
The Senate Finance Committee has approved President Joe Biden’s nomination of Janet Yellen to be the nation’s 78th Treasury secretary.
Unemployment claims fall to a still-high 900,000
Fewer Americans applied for unemployment benefits last week, lowering claims to 900,000, still a historically high level that points to further job cuts in a raging pandemic.
California unemployment fraud could top $9.8 billion
California may have paid out nearly $10 billion in phony coronavirus unemployment claims — more than double the previous estimate — with some of that money going to organized crime in other countries.
Unemployment claims jump to 965,000 as resurgent virus takes toll
The number of people seeking unemployment aid soared last week to 965,000, the most since late August and a sign that the resurgent virus has likely escalated layoffs.
Jobless claims jump to 965,000 as COVID-19 pandemic takes toll
The number of people seeking unemployment aid soared last week to 965,000, the most since late August and evidence that the resurgent virus has caused a spike in layoffs.
Late start to crab season proves to be not as lucrative
With the crab season finally underway, we had hoped to see the first catches come back to port Wednesday afternoon. But we will have to wait a bit longer.
US budget deficit surges, up 60.7% in first 3 months of budget year
The U.S. government's deficit in the first three months of the budget year was a record-breaking $572.9 billion, 60.7% higher than the same period a year ago.
Schumer pledges quick delivery of $2,000 stimulus checks: 'We will get that done'
Senate Democrats plan to make another coronavirus relief package — including sending an additional stimulus payment to many Americans — one of their top priorities for the year once they assume control of the chamber.
Bay Area Safeway.com grocery drivers vote to unionize
For the first time in the company's history, Safeway grocery drivers have unionized, a spokesman for United Food and Commercial Workers says on Friday.
US lost 140,000 jobs in December; first monthly loss since spring
U.S. employers shed jobs last month for the first time since April, cutting 140,000 positions, clear evidence that the economy is faltering as the viral pandemic tightens its grip on consumers and businesses.