U.S. stocks plunged in early trading Monday as investors fretted over mounting inflation and geopolitical tensions, before making up that ground in afternoon trading as financial markets whipsawed. The S&P 500 slumped in morning trade to enter what the market considers a “correction” — a drop of 10% or more …
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Los Angeles — Riot Games, the publisher behind esports giant “League of Legends,” agreed Monday night to pay $100 million to settle a class-action lawsuit alleging pay disparity, gender discrimination and sexual harassment. The lawsuit was filed in November of 2018 after gaming website Kotaku published a story detailing a …
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Reddit has filed for an initial public offering through a confidential draft registration statement with the U.S. Securities and Exchange Commission. While the timing of the IPO is unclear, the filing comes after a strong year of public offerings for technology companies. It also comes after Reddit’s own WallStreetBets group drew …
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Pressure is mounting on Activision Blizzard CEO Bobby Kotick to step down, with some employees at the video game giant and activist shareholders calling for his resignation following a report that he withheld information about alleged sexual misconduct at the company. The push for Kotick’s removal comes a day after …
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Gun maker Remington Firearms will move its headquarters from Ilion, New York, to Georgia, with plans to open a factory and research operation there. The company announced Monday that it would invest $100 million in the operation in LaGrange, Georgia, southwest of Atlanta, hiring more than 800 people over five years. …
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The Federal Reserve will begin dialing back the extraordinary economic aid it has provided since the pandemic erupted in early 2020, a response to high inflation that now looks likely to persist longer than it did just a few months ago. As expected, the central bank left rates unchanged. In …
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Rep. Marjorie Taylor Green is one investor who appears to have faith in the newly formed company backing former President Donald Trump’s social media venture. A congressional disclosure form shows the Georgia lawmaker last week bought between $15,001 and $50,000 worth of shares in Digital World Acquisition Corp. The disclosure was first …
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About 35 million U.S. families with 60 million children were sent the first monthly check for the Child Tax Credit on July 15. That federal benefit is providing about $15 billion in cash to families each month, but plenty of questions are arising about eligibility, the amount of the payments …
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The nation’s largest movie theater chain seemed on the verge of collapse a few months ago. Now AMC Entertainment has one of the hottest stocks of 2021, with its shares soaring nearly 300% Wednesday. AMC is the latest beneficiary of a movement being powered by amateur investors on Reddit who …
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Disney unveiled its hotly anticipated video steaming service that’s aiming to topple industry pioneer Netflix, once a valuable ally of the Magic Kingdom. The service will cost $6.99 per month, or well below the $13 monthly fee charged by Netflix for its most popular streaming plan. The service, called Disney …
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