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Friday, November 15, 2024

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Bezos Steps Away as CEO at Amazon, Citing Other Interests

(Headline USA) Jeff Bezos, who founded Amazon as an online bookstore and built it into a shopping and entertainment behemoth, will step down later this year as CEO---a role he's had for nearly 30 years---to become executive chairman, the company announced Tuesday. Bezos, 57, will be replaced in the fall...

Michigan Approves Permits for Great Lakes Oil Pipeline that Whitmer Wanted to Shut Down

(Headline USA) Michigan's environmental agency said Friday it has approved construction of an underground tunnel to house a replacement for a controversial oil pipeline in a channel linking two of the Great Lakes. The decision, a victory for Enbridge Inc., comes as the Canadian company resists Democratic Gov. Gretchen Whitmer's demand...

Two California Supermarkets Close After City Orders Pay Hike

(Associated Press) Kroger Co. will close two Southern California supermarkets in response to a local ordinance requiring extra pay for certain grocery employees working during the coronavirus pandemic. The decision announced by the company Monday follows a unanimous vote last month by the Long Beach City Council mandating a 120-day increase...

State Legislatures Eye Sound Money Reforms

(Jp Cortez, Sound Money Defense League) More state lawmakers than ever are introducing sound money legislation in the opening days of the 2021 legislative session. Several states will consider measures to remove sales or general excise taxes from the purchases of gold, silver, and other precious metals. Many other states will weigh...

#SilverSqueeze Underway?

(Clint Siegner, Money Metals News Service) The populist movement to punish Wall Street is turning its focus to silver. The markets may finally force more honest price discovery. That would certainly be welcomed by metals investors long frustrated by concerns about price suppression. Silver prices are pushed around by a handful of...

Silver is the New Gamestop: Price Boosted by Online Movement

(Associated Press) The price of silver is rallying as the online trading movement fueling the rise of unloved shares like GameStop took a shine to the precious metal. Silver futures jumped 11% on Monday to about $30 per ounce - an eight-year high - following strong gains over the weekend. On Twitter,...

GameStop Buyers Ready to ‘Burn It All Down’ to Punish Wall Street

(Headline USA) They've endured a financial crisis. Two deep recessions. Mounds of student debt. Stagnant pay. Costly health care. Dim job prospects. They've seen the uber-rich grow richer while tyrannical government shutdowns threw tens of millions of people out of work and left many more isolated and vulnerable at home. Now,...

GameStop Soars Again; Wall Street Bends Under the Pressure

(Headline USA) GameStop’s stock is back to the races Friday, and worries are growing about how much damage the frenzy over a handful of companies by Main Street investors will do to Wall Street overall. The S&P 500 dropped 2% and was heading for its worst week in months. GameStop shot up...

HAWLEY: ‘Too Big to Fail’ Wall St. Firms ‘Don’t Want Competition’

Sen. Josh Hawley, R-Mo., said the private investors who initiated the short squeeze on GameStop's (GME) stock price, causing hedge funds to suffer major losses, have faced more criticism than Wall Street did for tanking the entire economy in 2008. "What we’ve seen I think with this GameStop meltdown that...

Brokerages Limit Trading in GameStop, Sparking Outcry

(Headline USA) Robinhood and other retail brokerages took steps to tamp down the speculative frenzy surrounding companies such as GameStop, but the actions only sparked more volatility in the market and an outcry from users of the platforms and some members of Congress who say small investors are being treated...

Remember What the Letters ‘BP’ Used to Stand For?

BP’s oil exploration team has been cut down to 100 people from its peak of more than 700 as part of the company’s effort to prioritize climate change. Hundreds have left the oil exploration team in recent months under the leadership of CEO Bernard Looney --- either having been transferred,...

AUDIT: California Paid $10.4 Billion in Fraudulent Benefits; $810 Million to 45,000 Inmates

(Associated Press) An audit released Thursday found the California Employment Development Department has likely paid $10.4 billion in fraudulent benefits from March to December, a number that is likely to grow in the coming months. California State Auditor Elaine Howle said the agency was slow to react to warnings of...
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