Bitcoin’s Resurgence Spurs Fresh Push to Launch Leveraged ETFs
The race for the first leveraged Bitcoin exchange-traded fund is heating up as applications land amid a surge in cryptocurrency prices.
Bloomberg Business
Biden’s EV Plan Needs Transmission Lines That Haven’t Been Built
President Joe Biden unveiled an ambitious plan to boost US sales of electric vehicles in the bid to fight climate change. But the infrastructure needed to charge all those cars doesn’t yet exist and would require a massive buildout of the nation’s transmission lines.
Trump-Era Rollback Not to Blame for SVB, FDIC Vice Chairman Says
A legal overhaul five years ago that loosened oversight of midsized lenders wasn’t to blame for last month’s collapse of Silicon Valley Bank, according to a top official at the Federal Deposit Insurance Corp.
Jim Jordan Releases Initial Witness List for GOP Hearing, But Bragg Isn’t on It
A Harlem bodega clerk who fatally stabbed an attacker and was initially charged with murder by Manhattan District Attorney Alvin Bragg will be a star witness at a US House hearing in New York highlighting violent crime in the city where Donald Trump is facing charges.
Musk Says Twitter Could Become Cash-Flow Positive This Quarter
Elon Musk declared that most of the advertisers who abandoned Twitter after his $44 billion acquisition have returned, and said the company could become cash-flow positive as soon as this quarter.
US Sanctions Russian-Controlled IIB Bank, Executives in Hungary
The US imposed sanctions on the Russian-controlled International Investment Bank, saying its presence in Budapest allowed Moscow to expand its ability to spy, conduct “malign influence activities,” and engage in corruption from within the European Union and NATO.
Swiss Watch CEOs From Patek to Oris See Slowdown After Boom
The heads of some of the biggest Swiss watch brands, from Patek Philippe to Oris, said demand for luxury timepieces is starting to slow from an unprecedented industry boom during the pandemic.
US Families Find Some Relief as Prices of Many Household Necessities Retreat
The costs of many US household necessities retreated in March from a month earlier in welcome news for families that have been strapped by an extended period of rapid inflation.
3D-Printed Rocket Startup Relativity Pivots Weeks After First Flight Test
Relativity Space Inc. plans to abandon future flights of its Terran 1 rocket less than a month after it first tested the 3D-printed vehicle. The company will instead shift operations toward a previously planned larger rocket in hopes of filling a growing market need and better competing with industry leader SpaceX.
US Credit and Debit Card Spending Slows to Weakest Pace in Two Years, BofA Says
Spending on credit and debit cards rose at the smallest pace in more than two years, dragged down by slower wages, fewer tax refunds and the end of pandemic-era benefits, according to a report by Bank of America Institute.
