Steven Cohen’s Point72 Asset Management helped his former protege, Gabriel Plotkin, after the latter’s hedge fund Melvin Capital lost billions by betting against video game retailer GameStop. The rug was pulled from under Plotkin by a bunch of small dollar investors coming from a Reddit community called WallStreetBets. This placed …
Read More »US imposes federal mask mandate on all forms of public transportation from February 1
Starting from February 1, people in the US must wear masks on planes, trains, subways, buses, taxis, ships, and ferries. They must do the same in transportation hubs, including airports, train stations, and bus terminals. Transportation companies and personnel were instructed to deny service to maskless passengers and to otherwise …
Read More »Two shocking headlines that sum up Covid: Billionaires MADE $3.9 trillion during the pandemic, while workers LOST $3.7 trillion
In a simple comparison, two headlines seem to say it all about the economic impact of the Covid-19 crisis: the first, from Business Insider, reads “Billionaires made $3.9 trillion during the pandemic” while the second, from The Guardian, shouts “Covid-19 has cost global workers $3.7 trillion in lost earnings.” A …
Read More »GameStop investor clash will be won by Wall Street sharks because the game is rigged – analysts
The story of the American video game retailer went viral after a group of Reddit users launched a flash-mob, gobbling up the firm’s shares. The campaign resulted in GameStop’s stock price growing over 1,800 percent. The move washed billions of dollars out of the biggest hedge funds, which were short-selling …
Read More »Warren accused of ‘protecting’ hedge funds by saying Gamestop surge helps no one, demanding SEC action
“Casino-like swings in stock prices of GameStop reflect wild levels of speculation that don’t help GameStop’s workers or customers and could lead to market instability,” Warren wrote in a Friday letter addressing controversy on Wall Street. Warren, long painted by herself and supporters as a critic of Wall Street, said …
Read More »Comparing people to animals is offensive to animals – the latest load of bull to come down from PETA’s high horse
It’s high time that animals had the vote, don’t you think? They say turkeys would never vote for Christmas. Well, how dare ‘they’ make such an assumption? Let’s put it to the test, shall we? They’re sentient beings too, same as humans. They should have the very same rights as …
Read More »Chinese tech giant Xiaomi sues Pentagon & US Treasury, demanding removal from blacklist linking it to Beijing’s military
Xiaomi demanded that it be removed from the list on Friday, telling a Washington, DC district court that the decision to put it there was “unlawful and unconstitutional,” Reuters reported. It insisted it had no connection to the People’s Liberation Army, pointing to a “substantial number” of American citizens that …
Read More »What do you want, a cookie? Northrop Grumman expects praise for diversity and ditching cluster bomb contract
Northrop Grumman CEO Kathy Warden said on a quarterly earnings call on Thursday that the company will back out of a contract involving “testing of cluster munition components,” because inasmuch as they want to help the US military and its allies, they want to “be thoughtful about potential human rights …
Read More »11 US Army troops hospitalized after drinking ANTIFREEZE during field exercise, mistaking it for booze
The soldiers imbibed the toxic chemical on Thursday while on a 10-day field exercise at Fort Bliss’s McGregor Range Complex in Texas, the Army said, adding that they drank the substance thinking it was an “alcoholic beverage.” They soon reported feeling sick and were taken to the hospital for treatment. …
Read More »EU ABORTS plan to restrict vaccine exports through Northern Ireland, after drawing scorn from London & Dublin
In a statement late on Friday, Brussels said that it would not take advantage of the emergency mechanism in the divorce deal with Britain to unilaterally restrict the movement of goods from the EU into Northern Ireland to stop the free flow of vaccine doses. While the European Commission sought …
Read More »