Massachusetts senator and failed Presidential candidate Elizabeth Warren lobbied Joe Biden to become his treasury secretary. In a humiliating snub heard around the political world Biden chose former FED chair Janet Yellen over Warren as his Treasury Secretary. Chris Cillizza of CNN said there are several reasons Warren will never be America's Treasury Secretary. Warren in the Cabinet would allow Mass. GOP Gov. Charlie Baker to appoint a temporary replacement for her in the Senate.
Sen. Elizabeth Warren on Monday penned a letter to Walt Disney Co. CEO Bob Chapek and chairman Bob Iger concerning the recent theme park layoffs the company made, which officials largely blamed on California for not allowing Disneyland to reopen.
Credit: The Hollywood Reporter Duration: 01:33Published
Last year Tesla CEO Elon Musk predicted autonomous driving would boost his company's market capitalization to $500 billion. On Monday, Tesla's market cap soared as high as $498 billion even though Tesla is still refining its self-driving software. Business Insider reports that it has only released a beta version to a limited number of customers. Musk made the claim during an investor call in May 2019, when Tesla's market cap was less than $45 billion, CNBC reported.
On Tuesday, JPMorgan's Grace Peters told CNBC's "Squawk Box Europe" the S&P 500 could hit 3,750 by September 2021. Business Insider reports that would represent a 12% premium over Tuesday's closing price of 3,335.47. On the outlook for US stocks, she said, "We can see around a 10% upside over a 12-month view." Peters said investors should look at areas that have seen "structural growth" like construction, healthcare, and digital-transformation.
What is a stock split? A stock split is when a company decides to increase the number of shares by dividing its existing shares into additional shares. According to Business Insider stock splits don't provide any economic value to the company. They just reduce the stock's price, making it more affordable. Stock splits are often good signs for shareholders, attracting new investors and eventually leading to a share-price rise.
On Friday, US stocks made gains as hopes for a peaceful transition to the Biden administration offset concerns about soaring COVID-19 cases. Business Insider reports S&P 500 closed at a record high. On Thursday Pres. Donald Trump said he'd hand over power when the Electoral College certifies President-elect Joe Biden as the winner of the 2020 election. The US reported 125,082 new coronavirus cases on Thursday. That brought the seven-day average to 163,831, according to the COVID Tracking Project. Deaths topped 254,000, and hospitalizations jumped above 90,000. The stock market's "fear gauge" fell as low as 19.51 on Friday, dropping amid low trading volumes to its lowest level since the pandemic began.
AstraZeneca and the University of Oxford are facing criticism over their COVID-19 vaccine trial results. According to Business Insider the criticism comes after AstraZeneca admitted to a mistake in the vaccine dosage. During the vaccine trial, some patients got two full doses of the vaccine. Others had a half-dose in their first shot, followed by a full dose. On Wednesday, an AstraZeneca executive described the "mistake" as "serendipity.
Former President Barack Obama threw some geographic shade at the Trump administration in an interview with Stephen Colbert on Tuesday. Business Insider reports Obama praised President-elect Joe Biden's foreign policy picks for the incoming administration. Obama said that he was looking forward to seeing an administration where people 'know where countries are.' In June 2017, President Donald Trump reportedly mispronounced Nepal and Bhutan as "Nipple" and "Button.
Rudy Giuliani is up against numerous calls for his license to practice law to be revoked. But the bar to disbarment is set very high, and legal experts are divided as to whether Giuliani's conduct has been egregious enough to merit such a harsh punishment. According to Business Insider, President Donald Trump's personal attorney has been criticized for frivolous, dishonest litigation.