Category: Business

Exclusive: Quibi downloads reach 2.7 million, TV feature to start in May

New streaming service Quibi, which offers entertainment and news in episodes of 10 minutes or less on mobile phones, has been downloaded more than 2.7 million times since its April 6 debut, founder Jeffrey Katzenberg told us on Wednesday. Katzenberg also said that some Quibi users will have the ability to cast the service from […]

Google Stadia gains users after giving free access for two months

Google’s cloud-based game streaming service, Stadia, has witnessed a surge in users after the tech giant gifted two months of free access to its premium version for gamers sheltering at home to curb the spread of the coronavirus. Stadia’s mobile app, one of the multiple platforms to use the service and required to configure the […]

U.S. securities regulator warns investors over Chinese company disclosures

The head of the U.S. securities regulator on Wednesday warned investors against putting money into Chinese companies as they rebalance their portfolios following market turmoil due to ongoing problems with those companies’ disclosures. The comments from Securities and Exchange Commission chair Jay Clayton come as hawkish lawmakers and former officials renew efforts to persuade the […]

Securities group asks SEC to intervene for brokers in audit-trail database fight

U.S. brokers should not be forced to sign an agreement that could make them liable for breaches of a massive new industry trading database that they have no control over, a leading financial industry trade group told regulators on Wednesday. Brokers must soon begin sending sensitive information derived from their clients’ trades to a new […]

Brent crude rebounds from more-than 20-year low; U.S. oil up 20% in wild trade

Brent crude oil rebounded from two days of losses and U.S. futures surged on Wednesday, bolstered by tentative talk of additional supply cuts from OPEC producers and U.S. inventory builds that were less dire than some expected. Oil trading has been more volatile than ever in recent days. The market is overwhelmed by a growing […]

U.S. Treasury market faces structural issues even as liquidity improves

The recent liquidity crisis in the $17 trillion U.S. Treasury market has exposed structural problems that are unlikely to be fixed any time soon, which could lead to new bouts of volatility and make it more costly for the U.S. government to sell bonds. The bond market all but broke down in March as businesses […]

Business aid to be as fair as possible: Kudlow

White House economic adviser Larry Kudlow on Wednesday said the Trump administration would try to fairly distribute the next round of aid for small businesses hurt by the coronavirus outbreak, saying demand for the first round of funding was “overwhelming.” “We’re always making adjustments wherever necessary. We’re always trying to be as totally fair as […]