Federal Reserve Chair Jerome Powell on Wednesday reiterated that he expects interest rates to start coming down this year, but is not ready yet to say when. In prepared remarks for congressionally mandated appearances on Capitol Hill Wednesday and Thursday, Powell said policymakers remain attentive to the risks that inflation poses and don’t want to … Read more
Capital One CEO and Chairman, Richard Fairbank. Marvin Joseph| The Washington Post | Getty Images Capital One’s recently announced $35.3 billion acquisition of Discover Financial isn’t just about getting bigger — gaining “scale” in Wall Street-speak — it’s a bid to protect itself against a rising tide of fintech and regulatory threats. It’s a chess … Read more
Have you seen a story on social media recently claiming that Sen. Elizabeth Warren, a Democrat from Massachusetts, has endorsed Bitcoin? That would be quite a change, given Warren’s intense skepticism of crypto and her advocacy of more regulation for the industry. But the claim that Warren has made an about-face—even flying a flag a … Read more
Image: Jaap Arriens (Getty Images) The Federal Trade Commission isn’t happy with the outcome of Microsoft’s $68.7 billion acquisition of Activision Blizzard, telling a court on Wednesday that Microsoft’s recent layoffs contradict promises it made to get the merger approved. Warning! Microsoft Wants ChatGPT to Control Robots Next In a letter to the clerk of … Read more
Apple’s recent move to block Beeper Mini, the app that lets Android users chat with iPhone through the iMessage protocol, has caught the eye and a fair bit of ire of several U.S. congresspeople. Now lawmakers are calling for an investigation into the tech giant over “potential anticompetitive treatment” of the smaller messaging app. Threads … Read more
Tesla CEO Elon Musk arrives for a U.S. Senate bipartisan Synthetic Intelligence Perception Discussion board on the U.S. Capitol in Washington, D.C., Sept. 13, 2023. Andrew Caballero-Reynolds | AFP | Getty Photos WASHINGTON — Three Democratic members of the Senate Committee on Armed Providers have requested the Pentagon for details about SpaceX CEO Elon Musk, and … Read more