The clock is running out for Congress to pass Big Tech antitrust bills this year:

The clock is running out for Congress to pass Big Tech antitrust bills this year:

Nearly three years ago, when the Justice Department and Federal Trade Commission launched probes into the business practices of Big Tech, antitrust experts and legal talking heads declared a new age in enforcement and a chastening of unbridled financial power. But a pandemic and countless bill markups later – amid feverish lobbying efforts by Apple … Read more

Opinion: The S&P 500’s charts are pointing to more stock-market losses:

Opinion:  The S&P 500’s charts are pointing to more stock-market losses:

This past week, the S&P 500 index plunged to new relative lows. It is now trading at prices last seen in March 2021. This latest move downward violated support at 4100-4200 and prompted a swift move down towards possible support at 3900. The next support area below that is 3700 – the lows of February … Read more

Oil prices are surging – these eight stocks are still bargains for long-term investors:

Oil prices are surging – these eight stocks are still bargains for long-term investors:

The combination of underinvestment in new oil wells and rising demand underscores what might be a long period of high prices for energy commodities. Meanwhile, many oil and gas stocks are still trading at low valuations to expected earnings despite a sector-wide rally stretching back to the end of 2020. Even though the energy sector … Read more

Jared Kushner’s New Fund Plans to Invest Saudi Money in Israel:

Jared Kushner’s New Fund Plans to Invest Saudi Money in Israel:

Jared Kushner’s new private-equity fund plans to invest millions of dollars of Saudi Arabia’s money in Israeli startups, according to people familiar with the investment plan, in a sign of warming ties between two historic rivals. Affinity Partners, which has raised more than $ 3 billion, including a $ 2 billion commitment from the kingdom’s … Read more

Jared Kushner’s New Fund Plans to Invest Saudi Money in Israel:

Jared Kushner’s New Fund Plans to Invest Saudi Money in Israel:

Jared Kushner’s new private-equity fund plans to invest millions of dollars of Saudi Arabia’s money in Israeli startups, according to people familiar with the investment plan, in a sign of warming ties between two historic rivals. Affinity Partners, which has raised more than $ 3 billion, including a $ 2 billion commitment from the kingdom’s … Read more

Dow Slides More Than 1,000 Points as Investors Reassess Fed Comments:

Dow Slides More Than 1,000 Points as Investors Reassess Fed Comments:

US stocks fell sharply, led by technology and other growth stocks, as investors assessed the implications of the Federal Reserve’s most aggressive tightening of monetary policy in more than two decades. The S&P 500 dropped 3.7% as losses accelerated in midday trading Thursday. The tech-focused Nasdaq Composite Index fell 4.9%, and the Dow Jones Industrial … Read more

Fed, Biden Administration Float New Lending Rules for Lower-Income Areas:

Fed, Biden Administration Float New Lending Rules for Lower-Income Areas:

WASHINGTON — Top US regulators proposed overhauling how banks lend hundreds of billions of dollars annually in lower-income communities, after scrapping a Trump-era revamp that had divided regulators and industry officials. The latest proposal to modernize rules for the 1977 Community Reinvestment Act, announced Thursday, aims to ensure lending to lower-income individuals and small businesses … Read more

Facebook’s E-Commerce Bet Stumbles as Meta Looks to Revamp Its Ads Business:

Facebook’s E-Commerce Bet Stumbles as Meta Looks to Revamp Its Ads Business:

Facebook FB: 0.43% parent Meta Platforms: Inc. FB: 0.43% developed e-commerce services in 2020 as people shopped more from home and the company faced a changing digital ad market. Two years later, employees, former executives and retailers say the division remains a work in progress. Some retailers say they are frustrated by Meta:‘s: e-commerce rollout, … Read more

New York’s Waldorf Astoria Hotel Finds a Rocky Path to Condo Conversion:

New York’s Waldorf Astoria Hotel Finds a Rocky Path to Condo Conversion:

The Chinese owner of Manhattan’s historic Waldorf Astoria hotel has been struggling to complete its plan for converting hundreds of guest rooms into luxury condos. The process has fallen at least two years behind the initial schedule and costs have ballooned, leading to the departure last week of the top US executive overseeing the project. … Read more

Exxon and Chevron, Buoyed by High Oil Prices, Shower Investors With Cash:

Exxon and Chevron, Buoyed by High Oil Prices, Shower Investors With Cash:

Big oil companies are continuing to reap the benefits of high commodity prices but aren’t backing off plans to reward investors while keeping production roughly flat. Exxon XOM: -2.24% Mobil Corp. said Friday it collected $ 5.5 billion in first-quarter profit, more than double the same period last year. The US oil giant said it … Read more