The Supreme Court agreed on May 1 to look at a federal investor protection law after a Wall Street whistleblower claimed his former employer fired him for refusing to paint an unjustifiably rosy picture of market outlooks. The law concerned is the federal Sarbanes-Oxley Act of 2002 which was approved by Congress after accounting fraud…
Stock Market Today: Stocks Stay Steady After Bank Failure
NEW YORK—The latest historic U.S. banking failure made few waves in markets, and stocks drifted Monday as Wall Street braces for what it hopes will be the last hike to interest rates for a long time. The S&P 500 was virtually unchanged after regulators seized First Republic Bank and sold off most of it in…
Qantas Unveils Replacement for Retiring Chief Joyce
Alan Joyce will retire as head of Qantas after 15 years at the helm to be replaced by the national carrier’s financial chief. The airline announced on Tuesday that the role of chief executive and managing director would go to chief financial officer Vanessa Hudson once Joyce retires in November. Qantas chairman Richard Goyder said the appointment came after…
Closing Prices for Crude Oil, Gold and Other Commodities (May 1)
May 1, 2023
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Benchmark U.S. crude oil for June delivery fell $1.12 to $75.66 a barrel Monday. Brent crude for July delivery fell $1.02 to $79.31 a barrel. Wholesale gasoline for June delivery rose 2 cents $2.55 a gallon. June heating oil was unchanged at $2.38 a gallon. June natural gas fell 9 cents to $2.32 per 1,000…
Supreme Court Takes Up Major Case That Could Roll Back Power of Federal Government
May 1, 2023
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The Supreme Court decided on May 1 to consider rolling back a bureaucracy-empowering legal doctrine when it determined it will hear a case challenging a U.S. Commerce Department rule on fisheries inspectors. The court’s ultimate ruling could alter the current balance of power between Congress, executive agencies, and the nation’s judiciary by tearing away at…
Marjorie Taylor Greene Responds to Tucker Carlson Exit, Says Fox Should ‘Do the Right Thing’
May 1, 2023
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Rep. Marjorie Taylor Greene (R-Ga.) called on Fox News to “do the right thing” after the network parted ways with popular host Tucker Carlson last week. “There has been a huge backlash against Fox News. Pretty much everyone I know has canceled their Fox News app,” Greene told The Hill in a recent interview. “They’ve…
Ratings for Fox News’ Tucker Carlson Replacement Show Continue to Drop
May 1, 2023
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Fox News’ ratings continued to tumble last Friday, with the Tucker Carlson replacement show drawing fewer than half the viewers than the previous week. Ratings posted by Nielsen Research show that “Fox News Tonight,” the replacement for Carlson’s 8 p.m. ET show, drew 1.15 million viewers on April 28. Carlson’s finale show on April 21…
Microsoft Confirms End of Windows 10: Here’s When
Microsoft announced the end of Windows 10, the world’s most popular operating system, and said the current version will be the last. In a “client roadmap update,” Microsoft said that the current version of Windows 10, 22H2, which was released in October 2022, is the final feature update. Security updates and support will still be…
Banking System ‘Safe’ After Second-Largest Bank Failure in US History, Biden Says
The U.S. banking system is “safe and sound” after federal regulators facilitated the sale of the distressed First Republic Bank, President Joe Biden confirmed. First Republic became the second-largest bank failure in U.S. history and the third midsize institution to collapse in less than two months. Speaking from the White House on May 1 to…
EV Flop: Rivian Market Cap Down 92 Percent, Stock Falls 60 Percent in Past Year
Electric vehicle manufacturer Rivian is losing investor confidence as its market capitalization and share prices have both tumbled, with the company now competing in a difficult market, where leader Tesla is aggressively reducing prices. In late 2021, when Rivian made its public trading debut, its market capitalization had crossed $150 billion. But now, the company’s…
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