E-commerce Giant Amazon Pushes for Marijuana Legalization
Amazon is pushing for federal legalization of marijuana and will not test its workers on the drug, according to Marijuana Moment. The e-commerce giant will also lobby for marijuana use…
Fed Plans Undo Corporate Bond Capital as Most Remain Unutilized
U.S Federal Reserve seeks to undo corporate bond capital obtained in 2020 through a backup facility, according to Reuters. The bonds started to cool the lending market at the peak…
Invesco Eyes $400 Billion Pension Fund Contract with Beijing after Long Stay
Invesco seeks to manage China’s $400 billion-plus state-controlled pension funds, according to the Wall Street Journal. The company is capitalizing on its almost two-decade stay in China, managing ordinary citizen’s…
Hedge Funds Assets Climb Above $4 Billion as Pandemic Inspired Trading Profits Soar
Hedge fund assets surged to $4.07 trillion by the end of March as assets under management topped $4 trillion in February. According to CNBC, the asset boom was aided by…
U.S Seeks Consensus on Digital-Service Tax in Move against the U.K and Five Others
The U.S is targeting the U.K and other five countries in retaliatory digital-service taxes on American technology firms, according to the Wall Street Journal. The retaliatory levies will be put…
Guggenheim Saw Bitcoin Hitting $400,000. Now Fund Files with SEC for Crypto Exposure
$270 billion valued fund management Guggenheim Partners seeks to invest in bitcoin, according to a SEC filing. The investment will be under a new fund, “Guggenheim Active Allocation Fund.” The…
Software Entrant Celonis Hits $11B Market Cap. Appoints Google Executive
Start-up Celonis hit a valuation of $11 billion after raising $1 billion in a funding round, according to CNBC. The company’s value is now more than four times its 2019…
Meat Producer JBS Confident of Plant Operations Resumption after Cyberattacks
The world’s leading meat producer, JBS SA, is working to restore global operations affected by the cyberattack, according to Bloomberg. The company is optimistic that a large number of its…
Dogecoin Finds a New Bullish Momentum on Prospects of Coinbase Debut
Dogecoin surged 22% on Wednesday after Coinbase said it would allow trading of the crypto asset on its platform, Wall Street Journal reports. The rise in dogecoin was also fueled…
Musk’s Tweet on Sensational “Baby Shark” Sees Gains in Creator’s Major Shareholder
Elon Musk’s tweet about the viral YouTube song “Baby Shark” fueled gains in the creator's second-largest shareholder, Samsung Publishing Co., Bloomberg reports. Shares climbed about 10% to hit the highest…
SEC Flags Musk’s Tweets on Abuse of Court-Ordered Policy
The SEC informed Tesla that CEO Elon Musk’s tweets breached a court decree policy on two occasions in 2020, according to the Wall Street Journal. The decree mandated Musk’s tweets…
Aramco to Tap Global Capital Markets to Raise $5 Billion to Pay Dividend
Saudi Aramco prepares to raise $5 billion from global capital markets to fund its $75 billion dividends, according to Bloomberg. The company has picked about 15 banks to manage sales…
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