News

Regulation

Tuesday Regulatory Briefing: Supreme Court Puts Limits on SEC Penalties

The NYSE pushes for direct listing changes; stress tests incorporate the pandemic; eurozone banks borrow record amounts; and more.
Technology

Microsoft Scraps Game Streaming Platform

Microsoft tried to compete with Amazon's Twitch but its Mixer service saw "almost no growth in a medium that has otherwise been exploding."
Applications

ServiceNow Buys Data Management Startup

The acquistion of Sweagle will enable ServiceNow to identify and help prevent software configuration glitches that can cause outages.
The Cloud

Microsoft to Buy Startup CyberX

In a blog post, the tech giant said the deal was part of a wider initiative to accelerate and secure deployments of the internet of things (IoT).
Tax

Congress Looks to Support Charities With Tax Breaks

Two senators want to let taxpayers deduct charitable donations even if they don’t itemize their deductions.
Payments

Wirecard CEO Resigns Amid Cash Mystery

Markus Braun's departure came a day after the German fintech firm disclosed it was missing $2 billion in cash.
Credit

New Bill Offers Second Loans to PPP Borrowers

“Congress must once again act urgently to support our most vulnerable small businesses through this crisis."
Disclosure

AmTrust, Ex-CFO Fined for Improper Disclosure

The SEC says former finance chief Ronald Pipoly failed to properly disclose the company’s process for reporting management’s best estimate of loss reserves.
M&A

KKR to Buy Dutch Vacation Company Roompot

The target’s revenue has fallen during COVID-19 but the company has recently seen a jump in domestic demand.
Financial Performance

Carnival Loses $4B Amid Ship Lockdowns

“COVID-19 has had, and is expected to continue to have, a significant impact on our financial condition and operations."
Regulation

DoJ Proposes Weakening Tech Immunity Law

"The time is ripe to realign the scope of Section 230 [of the Communications Decency Act] with the realities of the modern internet."
Credit

U.S. Banks’ Profits Sink 69% to $18.5B in Q1

Banks diverted earnings to reserves for "newly risky loans as the coronavirus tanked credit health and plunged the U.S. into a recession."
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