Fed's Waller says private sector should lead on payment system innovation

NEW YORK (Reuters) -Federal Reserve Governor Christopher Waller said on Tuesday that he believes the private sector should take the lead when it comes to payment sector innovations. "What is the fundamental market inefficiency that would be solved by government intervention and can only be solved by government intervention?" Waller asked, noting that "if there isn't a satisfactory answer, then I believe government shouldn't intervene in private markets." Waller did not comment on the monetary policy and economic outlook in his prepared remarks, which centered on the role the Fed plays in the payment system.

Stock Market Doom While Gold and Silver Zoom?

Is the US stock market now in a blow-off stage, like in 1929? If so, how will the coming collapse affect gold, silver, and mining stocks? These are questions that investors should be asking. Here’s...

Stock market today: Nasdaq, S&P 500 hit pause on record-setting rally

Wall Street opens little changed as focus moves to economic data

Wall Street was steady at the open on Tuesday as focus shifted from the U.S. election to key inflation data later in the week for more signals on the country's economic and monetary policy outlook. The Dow Jones Industrial Average rose 66.1 points, or 0.15%, at the open to 44,359.21. The S&P 500 rose 2.3 points, or 0.04%, at the open to 6,003.6​, while the Nasdaq Composite dropped 8.9 points, or 0.05%, to 19,289.814 at the opening bell.

How 'all types' of small businesses can land lucrative government contracts

Netflix ad tier reaches 70 million monthly active users

Rents fell 0.6% in October, new data shows

Rents ticked down in October from the prior month as the supply of apartments coming onto the market outpaces demand.

The Wall Street CEO raising his hand to run Trump’s economy

(Bloomberg) -- The text to Elon Musk: a picture of giant scissors. Musk’s text back: a picture of a sword.Most Read from BloombergThe Leaf Blowers Will Not Go QuietlyArizona Elections Signal Robust Immigration Enforcement Under TrumpScoring an Architectural Breakthrough in Denver’s RiNo DistrictKey Ballot Initiatives and Local Races Highlight Views on Abortion, ImmigrationThe person on the other end: Howard Lutnick — Wall Street billionaire, MAGA believer and head-hunter-in-chief to Donald Trump

Biden EPA to charge first-ever ‘methane fee’ for drilling waste by oil and gas companies

Oil and natural gas companies for the first time will have to pay a federal fee if they emit dangerous methane above certain levels under a rule being made final by the Biden administration. The Environmental Protection Agency rule follows through on a directive from Congress included in the 2022 climate law. The new fee is intended to encourage industry to adopt best practices that reduce emissions of methane — the primary component of natural gas — and thereby avoid paying. Methane is a climate “super pollutant” that is far more potent in the short term than carbon dioxide and is responsible for about one-third of greenhouse gas emissions.

OPEC Cuts Global Oil Demand Growth Forecasts For a Fourth Consecutive Month

(Bloomberg) -- OPEC cut its oil demand growth forecasts for this year and next for a fourth consecutive month as it belatedly recognized a slowdown in top consumer China.Most Read from BloombergThe Leaf Blowers Will Not Go QuietlyArizona Elections Signal Robust Immigration Enforcement Under TrumpScoring an Architectural Breakthrough in Denver’s RiNo DistrictKey Ballot Initiatives and Local Races Highlight Views on Abortion, ImmigrationGlobal oil consumption will increase by 1.8 million barrels a