Goldman to offer cryptocurrency for wealth management clients

Goldman to offer cryptocurrency for wealth management clients

Goldman Sachs plans to offer investments in bitcoin and other digital assets to its wealth management clients from the second quarter, the latest top-tier company to move into the cryptocurrency space. Firms including Tesla, BNY Mellon and Square have recently announced they are betting on bitcoin, as the wider adoption of the cryptocurrency for settling … Read more

Delta CEO calls Georgia voting law ‘unacceptable’

Delta CEO calls Georgia voting law ‘unacceptable’

The CEO of Georgia-based Delta Air Lines said Wednesday that the state’s new election law overhaul is “unacceptable” and “based on a lie,” after the company faced criticism that it didn’t speak out forcefully enough in opposition to the bill when it was being considered by the state’s Republican leaders. CEO Ed Bastian offered his … Read more

Delta to stop blocking middle seats in May amid vaccinations

Delta to stop blocking middle seats in May amid vaccinations

Delta Air Lines, the last US airline still blocking middle seats, will end that policy May 1 as air travel recovers and more people become vaccinated against COVID-19. The decision announced Wednesday reversed a policy that had been in place since last April, and which Delta’s CEO had repeatedly cited as raising trust in the … Read more

H&M vows to win back China’s trust amid Xinjiang backlash

H&M vows to win back China's trust amid Xinjiang backlash

H&M pledged to regain Chinese shoppers’ trust Wednesday as it tried to tamp down a fiery backlash over its stance on human-rights abuses in the country’s Xinjiang region. Chinese officials and consumers threatened the Swedish retailer with boycotts last week after its six-month-old statement about allegations of forced labor in Xinjiang resurfaced on social media. … Read more

Spotify buys sports-talk app Locker Room

Spotify buys sports-talk app Locker Room

Spotify is acquiring live audio sports app Locker Room and its maker Betty Labs — with plans to expand the app’s reach into broader segments of pop culture, according to a new report. The deal, which is backed by Lightspeed Venture Partners, Google Ventures and Precursor Ventures, is valued at around $50 million, The Wall … Read more

Robinhood ditches confetti in stock trading app amid criticism

Robinhood ditches confetti in stock trading app amid criticism

Robinhood plans to stop showering users in digital confetti amid criticism that the signature animation made risky investing too much like a game. The confetti would pop up on Robinhood’s mobile app when retail traders reached “investing milestones,” such as making their first trade or depositing money in their account. But starting next week, the … Read more

Deliveroo IPO flops, shares tumble 30 percent

Deliveroo IPO flops, shares tumble 30 percent

Shares in Deliveroo plunged by as much as 30 percent in their trading debut on Wednesday, slicing more than 2 billion pounds off the company’s valuation in a blow to Britain’s ambitions to attract fast-growing tech companies to the London market. The highly anticipated listing, the biggest on the London market in a decade, had … Read more

Stimulus checks will get to Social Security recipients next week

Stimulus checks will get to Social Security recipients next week

Millions of Americans relying on Social Security benefits will finally get their third coronavirus stimulus checks next week, according to the feds. The Internal Revenue Service and the Social Security Administration say they have finally resolved a bureaucratic snafu that forced an estimated 30 million federal beneficiaries to wait for the $1,400 payments. Those people … Read more

Universal Studios Hollywood theme park to reopen April 16

Universal Studios Hollywood theme park to reopen April 16

Comcast’s Universal Studios Hollywood theme park in California will reopen to a limited number of visitors on April 16, the company said in a statement on Tuesday. Most rides will be operating at that time, though some will stay closed to comply with the state’s coronavirus restrictions, the statement said. Tickets will go on sale … Read more

Bill Hwang of Archegos at center of massive margin call

Bill Hwang of Archegos at center of massive margin call

Despite being a rarefied “Tiger cub,” Bill Hwang was not well known on Wall Street until he blew up in what might be the biggest margin call of all time, causing billions in losses. Hwang, a former protege of noted Tiger Management founder Julian Robertson, ran family office Archegos Capital Management, which was so under-the-radar … Read more