Today's Top Story
Wall Street vs Main Street fight quashes hedge funds as GameStop keeps rallying
(Reuters) - Retail traders scored against professionals on Wednesday as hedge funds Citron and Melvin retreated with heavy losses on short positions in GameStop in the week-long battle between Wall Street and Main Street, with more calling for scrutiny of anonymous stock trading posts on social media. Read More
Business News
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Lurching from crisis to crisis, Boeing delays 777X with demand hobbled
(Reuters) - Boeing Co took a hefty $6.5 billion charge on its all-new 777X jetliner as it posted a record annual loss on Wednesday due to the coronavirus pandemic and the aftermath of a two-year safety crisis over its 737 MAX.
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Fed leaves policy unchanged as economic recovery appears to moderate
WASHINGTON (Reuters) - The Federal Reserve on Wednesday left its key overnight interest rate near zero and made no change to its monthly bond purchases, pledging again to keep those economic pillars in place until there is a full rebound from the pandemic-triggered recession.
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Stocks slump on short squeeze fallout, Boeing drop; Fed sits tight
NEW YORK (Reuters) - U.S. stocks dropped more than 1% on Wednesday, showing little reaction to the latest Fed statement, as major indexes were weighed down in part by a slump in Boeing and hedge funds selling off long positions to cover a short squeeze.
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Economic News
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Fed leaves policy unchanged as economic recovery appears to moderate
WASHINGTON (Reuters) - The Federal Reserve on Wednesday left its key overnight interest rate near zero and made no change to its monthly bond purchases, pledging again to keep those economic pillars in place until there is a full rebound from the pandemic-triggered recession.
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U.S. core capital goods orders rise strongly in boost to business investment
WASHINGTON (Reuters) - New orders for key U.S.-made capital goods increased for an eighth straight month in December, pointing to solid growth in business spending on equipment in the fourth quarter and likely helping to underpin the economic recovery.
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Yellen in call with Germany's Scholz committed to U.S. participation in OECD tax talks
WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen and German Finance Minister Olaf Scholz on Wednesday stressed the importance of U.S.-German and transatlantic ties - and the need to work together - in their first phone call, the U.S. Treasury said in a statement.
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Money News
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Apollo Global Management's shares surge on resignation of CEO Black
(This 26 January story corrects to remove erroneous reference to Brown not being a member of the CalPERS investment committee)
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Column: Bubble-wary markets eye ETF crush in tech and crypto - Mike Dolan
LONDON (Reuters) - Is the presumed proliferation of market bubbles just speculative froth among amateur traders or is concentrated institutional money blowing big soapy spheres that interconnect and may inevitably burst each other?
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Goldman Sachs CEO Solomon pays price of 1MDB scandal
NEW YORK (Reuters) - Goldman Sachs Chief Executive David Solomon's annual pay fell by $10 million, or 36%, in 2020, according to regulatory disclosures filed Tuesday, reflecting the bank's role in Malaysia's 1MDB scandal.
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