Cryptocurrency market maker Cumberland, a part of the trading firm DRW, reacted defiantly to a lawsuit from the U.S. Securities and Exchange Commission Thursday.
Why it matters: The SEC's action against one of the longest standing providers of liquidity across trading venues in the digital assets markets is very different than the cases the agency has brought against fraudsters and market manipulators.
Tesla is poised to debut its long-awaited robotaxi Thursday night — and possibly an update on its humanoid robot — in a reveal that will require observers to separate sizzle from substance.
Why it matters: Tesla CEO Elon Musk has described self-driving car technology and AI robots as essential to the company's current stock valuation and its future.
More than 2 million Fisher-Price Snuga Swings were recalledfollowing the deaths of five infants over a decade.
State of play: Suffocation risks prompted the recall, and customers are told to remove parts of the swing before continuing to use it for "awake-time activities" only.
TD Bank has agreed to pay more than $3 billion in federal penalties in connection with an admission that it failed to prevent money laundering, including by drug traffickers, and a massive Ponzi scheme.
Why it matters: TD Bank is the 10th largest bank in the U.S. with some $367 billion in assets as of Dec. 31, as well as 27,000 employees and more than 1,100 branches.
Why it matters: The missed deadline means the ABC News debate on Sept. 10 was the only chance for voters to hear from both candidates side by side ahead of the Nov. 5 election.
Newsrooms are shrinking and audiences are becoming more dispersed as independent journalists successfully launch Substacks, content creators pivot into podcasting and TikTokers report on the news.
Why it matters: This is changing how brands, executives and politicians are engaging with the media.
The Athletic, a subscription sports news site owned by The New York Times, and Yahoo Sports are teaming up to launch a new hub for women's sports coverage on Yahoo Sports' website and app.
Why it matters: "While we can create all the best stuff in the world, it's only as important as the audience we can get to it," The Athletic's chief commercial officer Sebastian Tomich told Axios.
General Motors is launching a battery-powered home-energy storage system, placing the company in direct competition with Tesla.
Why it matters: Stationary power storage can serve as an alternative to home generators and can provide a charge to electric vehicles when the electricity is out.
The Consumer Price Index rose 2.4% in the 12-month period that ended in September, while a gauge that strips out food and energy prices was 3.3%, the government said Thursday.
Why it matters: The September CPI report is the latest data indicating that the inflation crisis is in the rear view mirror, with few signs of price pressures reigniting.
Exxon said it obtainedover 271,000 acres in Texas state waters for subsurface CO2 storage from planned Gulf Coast projects.
Why it matters: The lease is the country's largest offshore storage site — and an important part of Exxon's emerging Gulf infrastructure for the tech, the company said.
Last week, the entire country of China somehow became a meme stock. Now the party looks as though it's over — for the time being.
Why it matters: China's leadership is attempting something very delicate and difficult — it wants to boost the economy without inflating a speculative bubble in asset prices.
Kamala Harris'proposal to create a Medicare benefit for long-term home care targets an underappreciated part of the economy: caregiving.
Why it matters: The sector is staffed by underpaid and unpaid workers — mostly women — carrying out crucial jobs that will only become more important as the population ages.
