Tag Archives: Congress

TikTok began restoring its services in the United States on Sunday, hours after the app went offline following a Supreme Court-backed ban. The ban, approved by Congress, required TikTok to divest from its Chinese ownership due to concerns about potential misuse of user data by the Chinese government. Supreme Court …

TikTok began reinstating access for U.S. users on Sunday, just hours after compliance with a Supreme Court-backed ban temporarily took the app offline. The move comes as President-elect Donald Trump pledged to issue an executive order upon taking office on Monday, granting TikTok additional time to secure a U.S. buyer …

Trump’s administration has been criticized for potentially meddling with the Fed’s decisions about the US monetary policy. However, there is little Trump could do to threaten the Fed’s independence. Trump and some of his allies have suggested that Trump should be allowed to comment on interest rates, but this would …

Dealmaking is critical for Wall Street because it allows investors and banks to profit by offering advice or financing for transactions. President Joe Biden’s new bundle of laws to fund the federal government may hurt Wall Street mergers and acquisitions, dash hopes for a dealmaking rebound. Lowest Mergers, AcquisitionsInvestment bankers …

Fed Chair Jerome Powell is expected to reiterate his stance that interest rate cuts are not necessary right now, particularly in light of recent inflation-linked data that indicated price pressures are still persisting.The Fed will release its Beige Book poll, which is a nationwide study of regional business contacts, on …

Fed Chair Jerome Powell is set to give the Senate banking committee its biannual monetary policy update on March 7. The House Financial Services Committee is expected to host Powell at a hearing at least a day earlier, based on past practice. Investors will be keenly interested in Powell’s congressional …

European stock markets closed slightly lower Friday, erasing gains through the morning and previous session. The German DAX closed mostly flat on Friday, down a scant 0.07% and declining 12 points to close at €16,555.13. France’s CAC 40 declined nearly 40 points to close down 0.4% at €7,371.64. The pan-European …

US agencies have stopped clearing fuel in heavily forested areas to prevent wildfire spread. A 45-day stopgap funding bill was passed just hours before agencies would have been forced to close, but employees say everything stops as the work process shifts gears. The Office of Management and Budget formally kicked …

The US federal budget deficit sharply widened to $227.76 billion in June, up from $88.8 billion in the same month last year. The deficit was $1.39 trillion for the first nine months of the fiscal year, up from $515.1 billion in the same period last year. Government receipts fell from …

Bothered by a US Securities and Exchange Commission crackdown, cryptocurrency companies are renewing their efforts on Capitol Hill to reap support for legislation that they hope will control the organization and provide the sector regulatory clarity.According to 6 executives, the Blockchain Association, Chamber of Digital Commerce, Crypto Council for Innovation, …