The US stock market is finally as fast as it was about a hundred years ago. That was the last time share trades in New York settled in a single day, as they will from Tuesday under new Securities and Exchange Commission rules. The change, halving the time it takes to complete every transaction, also … Read more
New York: When US markets reopen next Tuesday after the long weekend, everything will likely seem normal. It’s only after the close and in the following days that any cracks are expected to appear. A spike in the number of failed trades, operational glitches and additional costs are among industry fears as the trading process … Read more
US prosecutors have widened their probe of India’s Adani Group to focus on whether the company may have engaged in bribery as well as the conduct of the company’s billionaire founder, according to people with direct knowledge of the matter. Investigators are digging into whether an Adani entity, or people linked to the company including … Read more
The Securities and Exchange Commission (SEC) accused Elon Musk on Wednesday of distorting the scope of its investigation into his 2022 purchase of Twitter as the agency attempts to force him to sit for a deposition. “Musk continues to distort the true scope of this investigation — his only hope for establishing that the SEC … Read more
Good morning! It’s Friday, March 1, 2024, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. 1st Gear: Research Needed To Prepare Firefighters For EV Blazes Cars burst into flames all the time and, … Read more
The price of one bitcoin topped $60,000 on Wednesday for the first time since November 2021, when the world’s largest cryptocurrency hit its current record of nearly $67,000. The boom is a massive turnaround from a year ago, when bitcoin kicked off 2023 below $20,000 and economists were anticipating a wider recession. Bitcoin has rallied … Read more
The Securities and Exchange Commission (SEC) has approved a merger between former President Trump’s media startup and the blank-check company attempting to take his platform Truth Social public. Digital World Acquisition Corp. (DWAC) said Wednesday that the agency declared the registration statement for its merger with Trump Media & Technology Group (TMTG) to be effective. … Read more
Several Republican senators slammed the Securities and Exchange Commission (SEC) on Wednesday over its “deeply troubling” conduct in a recent case against the cryptocurrency company DEBT Box. The SEC brought the case against DEBT Box in July, accusing the company of “an ongoing, sprawling, fraudulent securities offering” that defrauded investors of at least $49 million. … Read more
The hack of the Securities and Exchange Commission’s (SEC) account on X, the platform formerly known as Twitter, earlier this month was the result of a “SIM swap” attack, an agency spokesperson said Tuesday. An “unauthorized party” used SIM swapping to obtain control of the phone number associated with the SEC’s X account and reset … Read more
Securities and Exchange Commission (SEC) Chair Gary Gensler is facing bipartisan political backlash after the agency’s social media account was hacked last week and falsely claimed it had approved several highly anticipated bitcoin investment funds. While the SEC ultimately approved the exchange-traded funds (ETFs) holding bitcoin about 24 hours later, the high-profile blunder for the … Read more