U.S.

House Panel's Bill Would Block U.S. Buyers of Foreign Spyware

American spymasters would be able to yank business away from U.S. companies that purchase or market foreign espionage software, under a bill the House Intelligence Committee advanced on Wednesday. The bill must be approved by the full House and reconciled with its Senate counterpart before it becomes law. It follows media reports that Israeli spyware […]

U.S. Senators Press TikTok on Whether it Allows Russian 'Pro-War Propaganda'

Republican senators on Friday asked TikTok Chief Executive Shou Zi Chew about reports the social media site had allowed Russian state-approved media content but barred other videos. “Recent reports indicate TikTok… has allowed Russian state media to flood the platform with dangerous pro-war propaganda. No company should find itself in the position of amplifying the […]

Why the U.S. Stock Market is Tumbling in 2022

The U.S. stock market is off to brutal start in 2022. The S&P 500, which is widely considered to be the main benchmark for U.S. stock market performance, declined 13.3 percent through April, the steepest four-month drop to start any year since 1939. The index continues to fall in May and was down 16 percent […]

Investors Turn to Defensive Stocks as Economic Concerns Grow

U.S. stock investors worried geopolitical uncertainty and the Federal Reserve’s fight against inflation could dent economic growth are heading for defensive sectors they believe can better weather turbulent times and tend to offer strong dividends. The healthcare, utilities, consumer staples and real estate sectors have posted gains so far in April even as the broader […]

Congress Selects Lawmakers to Hammer out Deal on Semiconductor Chips Funding

U.S. House and Senate lawmakers said Thursday they have chosen negotiators to hammer out a deal on a bill to provide $52 billion in government subsidies for semiconductor production after months of discussion. House Speaker Nancy Pelosi, a Democrat, and Republican House Leader Kevin McCarthy named about 80 House lawmakers including the chairs and top […]

Yellen Says U.S. Crypto Rules Should Support Innovation, Manage Risks

U.S. Treasury Secretary Janet Yellen said on Thursday crypto asset regulations should support responsible innovation while managing risks, sticking to the contours of a recent White House executive order that was well-received by the crypto market. In a speech on digital assets policy released by the Treasury, Yellen said that in many cases regulators already […]

Ebbing Dollar Reserves Only Scratch on Dominance: McGeever

The U.S. dollar’s share of world currency reserves continues to ebb slowly – but reserve stashes are only one measure of its dominance of global finance, and there’s no realistic scenario where that gets derailed any time soon. Central banks and private businesses need their rainy day funds to be in liquid assets that are […]

S&P 500 Rises on Megacap Stock Boost, Twitter Surge

The benchmark S&P 500 index rose on Monday, boosted by megacap tech and growth stocks and a surge in Twitter after Elon Musk revealed his stake in the company, amid cautionary signals in the bond market and talk of more sanctions against Russia over Ukraine. Defensive sectors, such as utilities and healthcare, lagged. Shares of […]

U.S. Official Says Export Curbs on Russia Hit Car Production and Tank Building

Global restrictions on exports to Russia in response to its invasion of Ukraine have shut down a car maker, halted work on tanks and cut a Russian computer maker’s access to circuits used in communications equipment, a U.S. official said on Wednesday. “Thirty-three countries have joined together with one export controls strategy,” said Thea Kendler, […]