Financials

MassMutual fined for failing to monitor GameStop saga star

Massachusetts is fining MassMutual $4 million after accusing the company of failing to supervise an employee whose online cheerleading of GameStop’s stock helped launch the frenzy that shook Wall Street earlier this year

CEO’s dad gets a $3.6B stock windfall at Carvana

The company was founded in 2012 by Mr. Garcia’s son, Ernie Garcia III, inside his father’s chain of used-car dealers. Known for its car towers and home delivery, the online car dealer was spun off and taken public in 2017.

Bank of America shakes up leadership team

Bank of America chairman and CEO Brian Moynihan said the changes "position the company with highly energized leaders who are committed to driving Responsible Growth through its second decade – delivering for our clients, communities and shareholders, and addressing major societal issues."

BlackRock’s China blunder

President Xi Jinping's "Common Prosperity" program puts foreign investors in danger, seeking to reduce inequality by distributing the rich's wealth to the general population.

Western Union resumes Afghanistan money transfers

Western Union's money transfers will be paid out in U.S. Dollars or Afghani, depending on how the transfer is requested on the sender's side. Payouts are available in select locations based on local operating times, with the majority in the Kabul area.