Shares of Rivian, the electric-vehicle maker that went public last year with big ambitions to take on Tesla and others, jumped Thursday after the company reaffirmed its production forecast for this year despite supply-chain problems. In midday trading, the shares were up more than 20 percent. Before Thursday’s session, the […]
Updates
US unemployment rate expected to fall to 3.5% in April The U.S. unemployment rate likely dropped to its pre-pandemic low of 3.5% in April, while job growth moderated to a still brisk pace amid widespread worker shortages, underscoring the challenge the Federal Reserve faces to curb high inflation. The Labor Department’s closely watched employment […]
Bill Hwang and his former chief financial officer, Patrick Halligan, were arrested at their homes Wednesday.Credit…Emile Wamsteker/Bloomberg Until a few days ago, Bill Hwang and his lawyers had thought they would be able to persuade federal authorities not to file criminal charges over last year’s implosion of his $10 billion […]
As a Treasury Department official during the Obama administration, Michael S. Barr played a major role in putting together the Dodd-Frank Act.Credit…Jim Lo Scalzo/European Pressphoto Agency The Biden administration said on Friday that it intended to nominate Michael S. Barr, a law professor and a former Obama administration official, to […]
