Author: News Room

Famed investor and meme stock celebrity Keith Gill, better known as Roaring Kitty, may be dropped from top retail stock trading platform ETrade, according to a Wall Street Journal report. Citing “people familiar with the matter,” the WSJ said Monday that ETrade, owned by investment giant Morgan Stanley, is “growing concerned about potential stock manipulation around his recent purchases of GameStop (GME) stock.” The exclusive report comes as Gill’s long-dormant account on Reddit posted a screenshot late Sunday of an investment account holding over $200 million worth of GameStop shares and call options. The return of Roaring Kitty to Twitter…

No matter how much you like your colleagues, don’t think of your workplace as a family, says Airbnb CEO and co-founder Brian Chesky.Chesky learned this lesson from experience, he told Wharton psychologist Adam Grant’s “ReThinking” podcast in May.In 2020, at the height of the Covid-19 pandemic, Chesky penned a note to employees explaining that the company would conduct layoffs. “I have a deep feeling of love for all of you,” he wrote.It made sense: Workplace families were a particularly popular loyalty-building concept among tech companies pre-Covid, with perks like free food, dry cleaning and in-office gyms encouraging employees to spend…

This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayWeak data dents DowThe Dow Jones Industrial Average dropped more than 100 points after weak manufacturing data raised concerns about the strength of the U.S. economy. However, the S&P 500 edged higher by 0.11%, while the Nasdaq Composite gained 0.56%. Nvidia jumped almost 5% after introducing new artificial intelligence chips. The yield on the 10-year Treasury fell on…

The Trump campaign and the Republican National Committee raised a combined $141 million in May for former President Donald Trump’s reelection effort, the campaign said Monday – a dramatic boost in fundraising over the previous month’s haul as the Trump team works to erase President Joe Biden’s longstanding financial advantage. The campaign said a quarter of the donors in May were first-time contributors this cycle and pointed to Trump’s criminal trial in New York and conviction on 34 felony counts as a driver of the donations. The campaign previously had announced bringing in $53 million online in the 24 hours after…

Topline Online brokerage E-Trade is considering kicking out meme-stock trader Keith Gill from its platform over concerns about stock manipulation, according to The Wall Street Journal, a move that comes after Gill took to Reddit to show fellow investors he held nearly $116 million worth of GameStop stock over the weekend, triggering a spike in shares Monday. Key Facts GameStop’s stock closed up 21% at $28 per share Monday after Gill revealed his large position in the video game retailer during the weekend. E-Trade is now considering whether Gill, who also sent GameStop shares surging 110% in May with a…

BANGKOK (Reuters) – Thailand’s cabinet on Tuesday approved tax measures to boost domestic tourism during the low season, Deputy Finance Minister Paopoom Rojanasakul said. The measures, which cover the period from May to November, include tax deductions for companies organising conventions and seminars, he said. Additional measures were designed to increase domestic travel to secondary cities, including allowing income tax deductions for home stay and non-hotel accommodation expenses. Prime Minister Srettha Thavisin said the measures would cost the government 1.5 billion baht ($41 million) in revenue, but said the benefits would be greater. ($1 = 36.57 baht)

By Faith Hung, Max A. Cherney and Ben Blanchard HSINCHU/TAIPEI, Taiwan (Reuters) -Taiwanese contract chipmaker TSMC, whose major clients include Nvidia (NASDAQ:) and Apple (NASDAQ:), said on Tuesday it had held talks with some customers about moving its chip plants off the island as tensions mounted with China but such a move would be impossible. Tensions between China and Taiwan have increased sharply since Beijing launched war games around the democratically governed island last month following inauguration of Taiwan President Lai Ching-te, who Beijing denounces as a “separatist”. “Instability across the Taiwan Straits is indeed a consideration for supply chain,…

EUR/USD jumps above 1.0900 as the US Dollar weakens due to firm Fed rate-cut prospects. Traders raise Fed rate-cut bets amid fears of slower US economic growth. The ECB is due to announce June’s monetary policy decision on Thursday. EUR/USD holds strength slightly above the round-level resistance of 1.0900 in Tuesday’s European session. Sheer strength in the major currency pair is driven by a sharp sell-off in the US Dollar (USD).  The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, slips to an almost two-month low near the crucial support of 104.00 as a weak…

After an eight-year wait, NxWorries, the dynamic duo composed of Anderson .Paak and acclaimed producer Knxwledge, is back with a bang.—Their long-anticipated album “Why Lawd?” is set for release, hitting the shelves globally in vinyl, CD, and cassette formats on June 7, with a digital release to follow on June 14. But this album launch is more than just about music; it’s a revolution in artist-fan engagement, thanks to an innovative partnership with Gala Music.To celebrate the release of “Why Lawd?”, fans will get an exclusive first listen to Knxwledge’s remix of “Daydreaming” on Gala Music’s platform for eight weeks.…

President Joe Biden rebuked former President Donald Trump as a “convicted felon” on Monday, telling donors his predecessor “snapped” after losing the 2020 presidential election and would be worse if he won in November. “For the first time in American history a former president that is a convicted felon is now seeking the office of the presidency,” Biden said at a fundraiser in Greenwich, Connecticut, according to the pool reporter inside the fundraiser. “But as disturbing as that is, more damaging is the all-out assault Donald Trump is making on the American system of justice,” he continued, going on to…