Bitcoin continues its downward spiral on regulation fears. Prices fell below $10,000 on Wednesday, a decrease of about 50% since this last December. Other cryptocurrencies such as Ether, Litecoin, and XRP were also down.
The fight for net neutrality is gaining traction after 21 states filed a lawsuit challenging the FCC's recent decision to roll back Obama-era regulations. Led by New York State Attorney General Eric Schneiderman, the lawsuit says that the FCC is violating federal law. Meanwhile, Senate Democrats are building up a coalition in Congress to challenge the ruling. All 49 Democrats and one Republican are on board, leaving them just one vote short of a majority.
The spotlight is on Former White House aide Steve Bannon in the Russia investigation. He appeared before the House Intel Committee on Tuesday where he invoked executive privilege to avoid answering questions. Next, Bannon will have an interview with special counsel Robert Mueller.
Plus, we'll tell you where Wal-Mart's best ideas are coming from. Store No 8 Founder Katie Finnegan talks about how her company comes up with ideas for Wal-Mart on a small scale before bringing them to the world's largest retailer.
An independent watchdog within the IRS reports that while taxpayer services have vastly improved, the agency is still too slow to resolve identity theft cases. And National Taxpayer Advocate Erin Collins says those delays are “unconscionable.” Erin M. Collins said in the report released Wednesday that overall the 2024 filing season went smoothly, though IRS delays in resolving identity theft victim assistance cases are worsening. It took nearly 19 months to resolve self-reported identity theft cases as of January, and Wednesday's report states that now it takes 22 months to resolve these cases.
Amazon.com Inc. surpassed $2 trillion in market value for the first time in afternoon trading on Wednesday. The push higher for Amazon’s stock market valuation comes a little more than a week after Nvidia hit $3 trillion and briefly became the most valuable company on Wall Street. Nvidia’s chips are used to power many AI application and its valuation has soared as a result. Amazon has also been making big investments in AI as global interest has grown in the technology. Most of the company’s focus has been on business-focused products.
