U.S. President Joe Biden confirmed on Thursday that his administration is looking into forgiving some of the federal student debt in the near future. Biden said he is "taking a hard look" into this possibility but added that more information on the matter would be known in the coming...
The stock of sports betting and daily fantasy sports provider DraftKings continued its free fall this week, prompting its CEO Jason Robins to speak out publicly about the issue. Robins addressed the plummeting stock on Twitter, writing that the investors who sold their DKNG stock will "regret that decision."
"If...
The surging inflation didn't make a significant mark on the spending power of Americans as predicted. On the contrary, according to a report by Commerce Department, the retail sales went up in January by 3.8 percent after a 2.5 percent dive in December.
The data shows that the total spending...
Nvidia's plans to acquire chip designer Arm from Softbank are officially off the table. The news was confirmed by both companies via press release on Tuesday.
Nvidia previously agreed to purchase Arm for $40 billion in cash and stocks back in late 2020. The news caused Nvidia's stocks to soar,...
Technology conglomerate Alphabet, the parent company of Google and multiple former Google subsidiaries, released its quarterly earnings statement on Tuesday and revealed some big news in the process. Aside from reporting a 36 percent increase in profit in the last three months of 2021, the company also unveiled plans...
The Turkish lira bounced back on Tuesday after losing around 60 percent of its value against the U.S. dollar and hitting historic lows earlier this month. The recovery of the currency began shortly after Turkey's President Recep Tayyip Erdogan announced plans to protect deposits in the lira against future...
European gas futures are continuing to make gains as Russia remains adamant about limiting its supply to the region. Despite Russia's promise of extra volumes, national exporter Gazprom PJSC has not arranged any extra capacity in order to supply Europe with more gas via Ukraine in December.
While it is...
The Labor Department Friday released its October jobs report, which showed a significant rise in job creation as well as a slumping unemployment rate. With COVID-19 infections slowing down and steady economic recovery, over 531,000 new non-farm jobs were created in the past month; a significant rise from the...
The S&P 500 ended lower on Friday as the Labor Department released a less than favorable nonfarm payrolls report. Real estate and utilities proved to be the poorest performers on the index, declining by 1.1% and 0.7%, respectively.
Things were not all doom and gloom for the S&P 500, however,...
The United States Labor Department released its weekly jobless claims report on Thursday, which yielded surprising results. Despite the US economy making a gradual recovery following the coronavirus pandemic, 351,000 new initial unemployment claims were filed in the past week, compared to an originally expected figure of 320,000.
Currently, there...