A federal appellate court on Monday ordered the Securities and Exchange Commission to revisit its decision not to write new rules for when digital assets fall under its authority.
Why it matters: The The 3rd Circuit Court of Appeals firmly rebuked the agency, calling its decision to deny a petition by Coinbase, the largest digital asset company in the U.S., "insufficiently reasoned, and thus arbitrary and capricious."
Starbucks is rolling back a policy that allows people to hang out there or use the bathroom without buying anything.
Why it matters: The chain implemented the policy in 2018, following a national uproar when two Black men who hadn't purchased anything were arrested at a Starbucks in Philadelphia.
Americans have consistently viewed medical workers, K-12 teachers and military officers as the most ethical professions — but even their ratings have dropped considerably, new Gallup polling shows.
Why it matters: Americans' opinion of the ethics of various professions has stalled at its lowest point — reflective of declining confidence in U.S. institutions overall.
The CEO of steelmaker Cleveland-Cliffs reiterated he still wants to acquire rival U.S. Steel, in a news conference filled with intense and vehemently anti-Japan rhetoric.
Why it matters: This is the buyer that the United Steelworkers union wants, but it presents major antitrust challenges.
U.S. Steel's stock jumped Monday after a report of a possible new acquirer.
Why it matters: The Biden administration moved to block the company's sale to Japan-based Nippon Steel, but a legal fight is brewing over that decision.
Fidelity Investments today will announce its entry into the stock transfer agent market, with an all-digital solution that it's been quietly testing for the past year.
Why it matters: Stock transfer is vital to capital markets transactions, including both IPOs and M&A, but it's also dominated by an oligopoly that has a habit of driving CFOs to slam their fists into walls.
Jeff Bezos' Blue Origin on Monday called off the highly anticipated inaugural launch of its massive New Glenn rocket.
Why it matters: It's yet another setback to the company's bid to compete with Elon Musk's SpaceX in the space satellite game, as the New Glenn is Bezos' company's attempt to send satellites into orbit.
Donald Trump's idea of a perfect negotiation is one in which he presents himself as being so extreme and unpredictable that the other side gives him exactly what he wants before he even needs to ask for it.
By that standard, at least when it comes to the billionaire class, he's doing extremely well so far.
The big picture: Billionaires, by definition, have enough money that they can simply do things their own way and tell anyone they like to bugger off. Even the president.
President-elect Trump has said he wants to slap aggressive tariffs on all sorts of U.S. imports as soon as Day 1 of his administration. But taking shock-and-awe action would come with meaningful economic, political and legal risks.
Why it matters: Trump will have to decide whether to turn to the tried-and-true tools to implement tariffs he used when he was last in office — which are powerful, but take time and care to enact — or rip up the playbook.
