GameStop’s annual shareholder meeting was marred by chaos and confusion on Thursday as computer problems plagued the event. The servers hosting the virtual meeting crashed due to overwhelming interest in the stream, leaving many shareholders unable to access the event. Despite the meeting being scheduled to begin at 11 a.m. ET, users encountered error messages
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In a recent Senate Budget Committee hearing, lawmakers and experts discussed various Democratic proposals for increasing taxes on corporations and wealthy Americans. The proponents of these plans argue that higher taxes are necessary to address income inequality and reduce the federal budget deficit. Joseph Stiglitz, a professor of economics at Columbia University, emphasized that higher
On Thursday, U.S. stocks experienced a mixed trading session with the S & P 500 edging lower while still near record highs. This was in response to May’s producer price index data, indicating a possible easing of inflation pressures. Additionally, weekly jobless claims came in higher than expected, suggesting a mild loosening in the labor
The financial technology industry is currently experiencing a shift towards what some industry executives and investors believe to be a “bottom.” The unsustainable highs of 2020 and 2021 have been corrected, leading to a market that has “recalibrated.” Embedded finance, where technology companies sell financial services software to other companies, has become more focused on
British financial technology firm Revolut has recently made headlines with its decision to relocate its official headquarters in London to Canary Wharf, the city’s major financial district. This move signifies a significant milestone in the company’s growth and expansion plans. Revolut is set to move its global headquarters to the YY London building in the
GameStop shares faced a significant sell-off on Wednesday afternoon, causing concern among investors. This sell-off coincided with a surge in trading volume in call options owned by the infamous “Roaring Kitty,” whose real name is Keith Gill. Gill revealed on Monday night that he still held 120,000 call options contracts with a strike price of
Broadcom recently released their earnings report for the second fiscal quarter, showcasing a performance that surpassed analysts’ estimates. The company reported earnings per share of $10.96 adjusted against an expected $10.84, along with revenue of $12.49 billion compared to an anticipated $12.03 billion. This exceptional performance sent the stock soaring by approximately 10% in extended
Larry Ellison, the Chairman of Oracle, has seen a substantial increase in his net worth, totaling nearly $19 billion. This surge in wealth comes after Oracle announced double-digit revenue growth for the fiscal year, resulting in the stock experiencing its largest rally since 2021. Ellison, who founded Oracle in 1977, holds approximately 1.15 billion shares
Foundation Robotics Labs, a humanoid robotics startup seeking funds for an $11 million seed round, has come under scrutiny for its claims of close ties and impending investments from General Motors. The investor pitch, which was obtained by CNBC, indicated that GM had already committed to investing in the company, and was also set to
As the Federal Reserve concluded its two-day meeting, it announced that there would be no change in the key interest rate, pointing towards a single anticipated cut before the end of the year. Previously anticipated rate reductions were revised, with only one cut expected as opposed to the two initially indicated in March. Despite market