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Money & Markets

Facebook profits top $10B as its CEO exalts the ‘metaverse’

Concerns about a revenue growth slowdown pushed Facebook’s shares lower in after-hours trading Wednesday, not long after the company reported that its second-quarter profits doubled thanks to a massive increase in advertising revenue. But CEO Mark Zuckerberg set his sights far beyond the ...

Robinhood IPO asks customers to play big role as investors

LOS ANGELES — Robinhood is disrupting another stock market norm — and taking a big risk — by giving ordinary investors access to a huge slice of its initial public offering. The popular online brokerage is taking the unusual step of allowing users of its trading app to buy up to a ...

Senators, White House in talks to finish infrastructure bill

WASHINGTON — Senators and the White House were locked in intense negotiations Monday to salvage a bipartisan infrastructure deal, with pressure mounting on all sides to wrap up talks and show progress on President Joe Biden’s top priority. Despite weeks of closed-door discussions, ...

Yellen outlines to Congress emergency measures on debt limit

WASHINGTON — Treasury Secretary Janet Yellen told Congress on Friday that she will start taking emergency measures next week to keep the government from an unprecedented default on the national debt, warning that a default would cause “irreparable harm to the U.S. economy and the ...

Biden administration stepping up community grants from COVID bill

WASHINGTON — President Joe Biden’s administration is beginning to make $3 billion in economic development grants available to communities — a tenfold increase in the program paid for by this year’s COVID-19 relief bill. Commerce Secretary Gina Raimondo said her agency on Thursday will ...

Infrastructure bill fails first vote; Senate to try again

WASHINGTON — Senate Republicans rejected an effort Wednesday to begin debate on the big infrastructure deal that a bipartisan group of senators brokered with President Joe Biden, but pressure was mounting as supporters insisted they just needed more time before another vote possibly next ...