Securities and Exchange Commission (SEC) commissioner Hester Peirce, who has earned the moniker “Crypto Mom” for her friendly stance on cryptocurrencies, told a MarketWatch virtual conference that any efforts to ban cryptocurrencies such as Bitcoin would essentially be doomed to failure and any government that tried would be “foolish.” Investment managers have warned that a…
Bitcoin Ban Practically Impossible and Governments Would Be ‘Foolish’ to Try: SEC Commissioner
Dollar General to Hire up to 20,000 Workers as Economy Rebounds
Dollar General Corp said on Wednesday it would recruit up to 20,000 employees this spring, the latest company to plan a hiring spree as more parts of the U.S. economy reopen and fiscal stimulus kicks in. But the number was lower than the more than 50,000 workers the company hired around the same time last…
Chinese Companies Stockpile Chips for Autos, Exacerbating Global Chip Shortage
April 14, 2021
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A global shortage of automotive chips has become critical this year, with almost all major automakers experiencing varying degrees of production cutbacks or short-term shutdowns resulting from a shortage caused by Chinese companies stockpiling chips. Although Taiwan Semiconductor Manufacturing (TSMC), the world’s largest producer of chips, has activated its “super hot runs” queueing mode of…
Bally’s Buying Tropicana Hotel on Las Vegas Strip for $308 Million
LAS VEGAS—The Tropicana Las Vegas Hotel and Casino, a Sin City namesake, is being sold to a new entrant among Las Vegas Boulevard resort owners. Rhode Island-based Bally’s Corp. announced Tuesday it will acquire the iconic Strip property from Gaming and Leisure Properties Inc. for about $308 million. The agreement for the nearly 1,500-room hotel,…
US Issues Subpoena to Chinese Company as Part of Supply Chain Review
April 13, 2021
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WASHINGTON—The U.S. Commerce Department said on Tuesday it had issued a subpoena to an unnamed Chinese company as part of the Biden administration’s review of its supply chain for any risks posed to U.S. national security. The administration of President Joe Biden has take a relatively hard line on Chinese companies, similar to that of…
American Airlines Expects First-Quarter Revenue to Plunge 62% vs 2019
American Airlines said on Tuesday it expects its first-quarter revenue to plunge about 62 percent compared with the same period in 2019, and to post a loss of about $2.7 billion to $2.8 billion, excluding the gains from a payroll support program. The company had previously forecast a decline of between 60 percent and 65…
Mike Lindell: Costco Has Stopped Selling MyPillow Products
MyPillow CEO Mike Lindell said that Costco has stopped selling his products, becoming the latest in a string of retailers to do so. Lindell told the New York Post that Costco has not provided him a reason for the move. According to a search of Costco’s website, MyPillow products are not listed. “Costco basically did…
US Budget Deficit Jumps to Record $1.7 Trillion This Year
WASHINGTON—The U.S. government’s budget deficit surged to an all-time high of $1.7 trillion for the first six months of this budget year, nearly double the previous record, as another round of economic-support checks added billions of dollars to spending last month. In its monthly budget report, the Treasury Department said Monday that the deficit for…
Huawei, HSBC Agree on Document Deal for Extradition Case
HONG KONG—Chinese telecommunications equipment firm Huawei said Monday that it has reached an agreement with HSBC in Hong Kong to obtain documents that its chief financial office Meng Wanzhou hopes will help prevent her extradition to the United States. Meng, who was detained in Canada in 2018 at the behest of U.S. authorities, has been…
Top CEOs Meet to Discuss Voting Laws Deemed Discriminatory, Limiting
More than 100 business leaders, including the chief executives of some of the country’s most prominent businesses, met over the weekend to discuss how to respond to legislative proposals on voting that they believe are too restrictive. The meeting, building on the dozens of businesses that publicly opposed a Georgia law that was enacted last…
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