China poised to embed ‘Communist Party spies’ inside US firms — including Microsoft, critics warn
The Chinese government is poised to infiltrate Microsoft and other American companies doing business in the country with “Communist spies” who could steal trade secrets, poach employees and even subject them to chilling intimidation tactics, The Washington Post has found. A new version of Beijing's “Company Law” that came into effect on July 1 requires […]
25 financial firms accused of putting enviro policy over shareholders’ green: ‘We’re going to get answers’
Attorneys general from 24 states have sent letters to 25 asset management companies demanding answers about their recent votes on proposals that overly prioritized environmental issues over shareholder concerns. All of the companies questioned had voted more than 75% in line with environmental proposals from the nonprofit Shareholder Services Organization (ISS), which was highlighted by […]
NFL owners allow private equity firms to buy up to 10% of clubs for first time
The National Football League approved new rules on Tuesday that will allow team owners to sell parts of their franchises to private equity firms, raising the possibility of a windfall that could add billions of dollars to the value of clubs. The NFL's 32 owners voted for the measure at a special league meeting in […]
US firms’ ‘low firing’ approach could turn to more layoffs, Fed’s Barkin warns
Jim Thorne, chief market strategist at Wellington Altus Private Wealth, argues that the Fed needs to get inflation down to neutral levels quickly. In newly released comments, Richmond Fed President Thomas Barkin said U.S. companies’ current approach to hiring decisions — hiring fewer people and firing fewer — is likely short-lived, and he noted the […]
Crypto firms made nearly half of corporate donations in 2024 election: report
Cryptocurrency companies accounted for nearly half of all corporate donations in the 2024 presidential election, according to a report, sparking criticism of the industry’s growing influence. Crypto companies have donated more than $119 million in political contributions, most of which have gone to nonpartisan super PACs focused on electing pro-crypto candidates. According to a report […]
X investors who helped Elon Musk buy company include VC firms, Saudi prince
Investors who helped Elon Musk acquire X for $44 billion two years ago included some of Silicon Valley’s top venture capitalists, members of Saudi Arabia’s royal family and a fund with ties to disgraced hip-hop mogul Sean “Diddy” Combs, according to court documents. A federal judge in San Francisco on Tuesday ordered Co. X to […]
NY weighs charging oil firms billions of dollars to fuel new climate change fund
Governor Kathy Hawkle Decide now Whether to approve a controversial bill that would force oil, natural gas and coal companies to pay billions of dollars to the state for contributing to climate change. Supporters liken the plan — a proposed Climate Change Superfund — to the federal Superfund program that has sought to hold polluters […]
Wall Street firms fined $390M in over text, WhatsApp messages
The SEC watchdog on Thursday levied $390 million in fines on 26 Wall Street investment firms as part of its latest crackdown on misuse of text and WhatsApp messaging. The fined firms included Ameriprise Financial, Edward Jones, LPL Financial and Raymond James, which each agreed to pay $50 million to settle the allegations. BNY’s Pershing […]
SEC probe of B. Riley widens as struggling firm’s stock drops more than 50% on profit warning
The federal government has expanded its investigation into financial misconduct at B. Riley & Co., sources told The Washington Post, even as the struggling Wall Street company suspended its dividend and issued a profit warning on Monday and its stock price fell more than 50%. Short sellers continued to provide information about B. Riley to […]
FTC probes AI-powered ‘surveillance pricing’ at firms including Mastercard, JPMorgan Chase, McKinsey
Sarah Ponczek and Luke Lloyd discuss the technology and AI landscape, the impact on air freight and ocean shipping rates with Shein and Temu, and how the federal government will handle rates. The Federal Trade Commission (FTC) announced Tuesday that it has launched an investigation into eight companies that offer surveillance pricing tools. Artificial Intelligence […]