(Bloomberg) — Robinhood Markets Inc. and Citadel Securities responded to renewed criticism of their actions during January’s meme-stock frenzy, after retail investors filed a class-action lawsuit last week. Most Read from Bloomberg Citadel Securities, whose founder Ken Griffin testified about the episode during a February congressional hearing, fired off a series of tweets late Monday denying allegations that it pressured Robinhood to restrict trading. Robinhood, led by Chief Executive… Source link

As the buy now, pay later (BNPL) market heats up, Mastercard (MA) is jumping into the fray with a new product offering. The credit card giant announced on Tuesday “Mastercard Installments” for U.S., Australian, and UK markets, offering consumers a 0% interest, pay-in-four-installments model that’s similar to the rest of the BNPL players in the industry.  As more established companies like Mastercard get into this space, by launching new products, through partnerships, or via acquisitions, “we… Source link

Investors clearly want to stay believers in the buy-the-dip strategy that has worked so well, for so long.  With stocks catching a surprise downdraft last week on Evergrande and debt ceiling concerns — which included the S&P 500 dipping below the key 50-day moving average —investors stepped up and bought big, according to new data out of BofA Securities.  BofA said its clients were “big net buyers” of U.S. equities last week, scooping up $5.9 billion worth of stocks. It marked the third… Source link

Credit: Microsoft In June this year, Microsoft officials announced their plans to redo the Microsoft Store and make it available to both Windows 11 and Windows 10 users starting this fall. Today, September 28, Microsoft execs added a few new details to the new Store rollout plan, including… Source link

The United States Congress has a deadline on paying its bills: October 18, 2021. Secretary of the Treasury Janet Yellen said that if Congress does not raise the debt ceiling, the Treasury will run out of emergency funds to pay U.S. debt holders by that date. “Failing to increase the debt limit would have catastrophic economic consequences,” Yellen told the Senate Banking Committee on Tuesday. In August, a statutory limit on federal debt — called the debt ceiling — was reinstated,… Source link

Court documents unsealed on Monday revealed new details of ex-Theranos CEO Elizabeth Holmes’ defense strategy, in a closely watched criminal trial accusing her of using her blood-testing startup to defraud both patients and investors. In the documents, Holmes contends that alleged abuse by her onetime boyfriend — former Theranos COO and president Ramesh “Sunny” Balwani, who also faces criminal charges — influenced her beliefs about the startup’s operations and financial well… Source link

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Vanessa Salas/CNET A full-on smart display is overkill as… Source link

President Joe Biden pleaded with unvaccinated Americans to get their COVID-19 shots, as he rolled up his sleeve for his third dose Monday. “The most important thing we need to do is get more people vaccinated,” he said, adding that it is now a pandemic of the unvaccinated. Biden cited the needed recovery of the U.S. economy and overall safety and protection of fellow Americans. “About 23 percent haven’t gotten any shots. And that distinct minority is causing …an awful lot of damage to the… Source link

The next steps in Washington’s very busy week are currently up in the air. Senate Republicans blocked an effort to raise the debt limit and also avert a government shutdown Monday night. Now the Democrats are likely going to have to move on those issue one at a time with an Oct. 1 deadline to avert a shutdown and Oct. 15 or soon thereafter to address the debt ceiling. “It’s never even conceivably thoughtful to think about defaulting,” Jared Bernstein, a member of President Biden’s Council… Source link