House Financial Services doesn't plan to subpoena Sam Bankman-Fried to testify at hearing on FTX collapse

Per CNBC: House Financial Services Committee reportedly was told by Maxine Waters that there is not a plan to subpoena former FTX CEO Sam Bankman-Fried to testify at Tuesday’s hearing about FTX, per CNBC. This reportedly happened at a private meeting. Reportedly Waters wants committee staff to try

The SEC will consider issuing four proposals to overhaul the plumbing of the stock market

Per WSJ: The Securities and Exchange Commission will issuge new proposals to reportedly help smalltime investors. If the panel on Dec 14 supports the proposesls, they will be opened to comment by the public. The proposals deal with best execution and PFOF, where Gensler says the PFOF is a conflict

Elon Musk is no longer world’s richest man

Per Forbes: Elon Musk lost the title of world’s richest person on Wednesday, according to Forbes [https://www.forbes.com/real-time-billionaires/#42581d363d78]’ billionaire rankings. The Tesla CEO lost $3.4 billion of his net worth overnight as the electric car and Musk has lost more than $100

About 270,000 homebuyers who bought during the red-hot housing market this year already owe more than their house is worth

per Yahoo Finance: About 270,000 homebuyers who bought during the red-hot housing market this year already owe more than their house is worth, a new analysis found. Among the 450,000 underwater borrowers in the third quarter, nearly 60% had mortgages originated in the first nine months of

Apple CEO Tim Cook Says Company Will Embark in US-Made Chips with Arizona TSMC Factory

Per CNBC Tim Cook announces that Apple will be using chips made in the USA with the help of TSMC's Arizona factory for the very first time. This provides logistical convenience and a solution to the semiconductor supply issue. Tim Cook: "Thanks to the hard work of

Elon Musk Exits Ex-FBI Twitter Lawyer James Baker Over Alleged Document Suppression on Hunter Biden's Laptop Expose

Per NY Post Elon Musk fired Twitter lawyer James Baker, a former top FBI lawyer, after allegedly vetting internal Twitter documents before being sent to journalists, causing a delay in releasing critical material. Musk initially teamed up with Matt Taibbi to release behind-the-scenes information on President Joe Biden&

SBF has hired Mark Cohen as a lawyer

Sam Bankman-Fried has hired Mark Cohen as his attorney. Mark Cohen, who has previously worked for Ghisaline Maxwell and El Chapo in their high profile cases. The news regarding Mark Cohen, of Cohen & Gresser, Bankman-Fried's spokesperson Mark Botnick said in an emailed statement. Cohen has

HLF Stock Plunged: Here's What Happened

The Situation Herbalife Nutrition Ltd (NASDAQ: HLF) shares – a global multi-level marketing corporation focusing on dietary supplements – plunged on Tuesday after announcing a proposed convertible senior note offering. As of 12:00 PM ET, Herbalife shares dropped by 18.85%. The Explanation Herbalife Nutrition went public on the NYSE

The IRS Now Requires Venmo and PayPal Payments Reports for Transactions Over $600

Per NY Post The IRS is warning Americans about failure to report Venmo and PayPal transactions over $600. This is due to the 2021 American Rescue Plan Act, which changes how Form 1099-K is used. Business owners that earn $600 or more per year (not per month) via Cash

Twitter Drops Covid Misinformation Policy Under Elon Musk's Management

Per CNN Twitter was quick to act regarding alleged Covid misinformation back in 2020. Under Elon Musk's new rule, the social platform overrules its Covid misinformation policy. It is estimated that almost 100,000 content pieces have been removed. On March 20, 2020, Twitter deleted tweets from Jair

US Housing Market Prices Drop Third Month in a Row | Zillow Economist Says Homeowner Equity Reached a Record High

Per Bloomberg The US housing market has gone wild as more and more people find purchasing a home out of their capabilities. Millennials and Gen Zers, especially, shared how they want to buy a home but simply can't afford it, nearing the housing market's peak before

Goldman Sachs is Investigating Potential Crypto Company Investments After FTX Collapse

Per Reuters After the crash of FTX, Goldman Sachs is ready to jump in and invest as the bank plans to do due diligence on several crypto firms. Goldman's head of digital assets, Matthew McDermott, highlighted the need for regulated crypto players. Despite the cautious approach, the investment

Twitter HQ janitors are on strike

Per More Perfect Union: Janitors were striking at Twitter HQ. This is reportedly due to 20 workers being laid off, per SEI Local 87 union. The union representative said they will continue until their demands for recourse are met. Thousands were fired from Twitter in November. Staff went from 7,

Facebook owner Meta to remove news from its platform if Congress passes media bill

Per Reuters: $META to remove news if US passes the Journalism Competition and Perservation Act to the defense bill. Andy Stone, spokesperson for Meta, said that they'd completely remove news "rather than submit to government-mandated negotiations that unfairly disregard any value we provide to news outlets.

U.S. law enforcement is investigating Elon Musk’s Neuralink

Per Reuters: Elon Musk’s Neuralink, a medical device company, is under federal investigation for potential animal-welfare violations amid internal staff complaints that its animal testing is being rushed, causing needless suffering and deaths, according to documents reviewed by Reuters and sources familiar with the investigation and company operations.

VERV Stock Plunged: Here's What Happened

The Situation Verve Therapeutics Inc (NASDAQ: VERV) shares – a clinical-stage gene-editing biopharmaceutical company focusing on therapies for cardiovascular conditions – plunged on Monday after the FDA asked for additional data for its gene-editing approach. As of 12:00 PM ET, Verve shares dropped 14.08%. The Explanation Verve

Elon Musk Requires Managers to Write Code Likening Them to Cavalry Captains

Per Elon Musk's tweets to Zoe from The Platformer Since Elon Musk acquired Twitter, its number of employees has been thinned out as the new CEO brings up new requirements to check on work. His most recent addition is to require managers to be capable of writing meaningful

Blackrock Points Says Central Banks are Causing Recession Instead of Coming to the Rescue | CEO Shares Thoughts About Blockchain

Per Forex Live Blackrock points out how the situation has changed where central banks that used to rescue the economy from inflation are now causing it. In a section called "Living with inflation," it was noted that the situation could echo what happened in the UK. Recently, Florida

BIS Warns Pension Funds and 'Non-Bank' Firms have $80 Trillion in FX Swaps, Higher than Dollar Treasury Bills

Per Reuters The Bank for International Settlements (BIS) warns the public of high FX swap debt for pension funds and non-banking financial firms. This puts them at extreme risk since the amount of debt exceeds the stocks of dollar Treasury bills, repo, and commercial paper altogether. The total FX

Amazon resuming advertising on Twitter

Per Platformer News: Zoe from PLatformer intitally tweeted that Amazon is planning to resume advertising on Twitter at $100 million a year. Pending their adspend is tweaks on Twitter's security. It is unclear what those tweaks may be. Reuters, however, has stated that Amazon has never stopped advertising

Russia warns it will cut off oil supply after countries vote for $60-per-barrel price cap

Per CBS News: On Friday, numerous countries including US, Canada, Britian and 27-block EU agreed to $60 barrel oil cap. It is supposed to take place Monday. Russia said, through Dimtry Peskov, that it would not accept price ceiling. CBS stated that it will cut off supply. Mikhail Ulyanov,

Michael Burry says he is not short

In a new Tweet, Burry has said he is not short. Three weeks ago, he tweeted but than deleted: you don't know how short I am. In November, it was revealed that he had been on a buying spree. He purchased more $GEO [https://twitter.com/search?q=

The Pentagon has failed its fifth consecutive annual comprehensive audit

Per Reuters: The Pentagon failed its fifth consecutive annual comprehensive audit, with auditors concluding that its internal systems and processes for tracking weapons and finances were not sufficient, per Reuters this week. The audit consisted of 1,600 auditors visiting 220 sites and 750 virtual visits and assessing $3.5

Elon Musk says support of Democratic elections by SBF of FTX was over $1 billion

Elon Musk was replying to the following tweet by Will Manidis: SBF donating $40M to not go to jail for stealing $10B+ is one of the highest ROI trades of all time. Elon said: That’s just the publicly disclosed number. His actual support of Dem elections is probably over

Apple makes plans to move production out of China, per WSJ

Per WSJ: Apple has accelerated plans to shift some of its production outside China. Suppliers are reportedly supposed to begin looking to make Apple products elsewhere in Asia. Emphasis is especially for  India and Vietnam, the WSJ says. They are reportly looking to also reduce dependence on Taiwanese assemblers led