Stitch Fix founder Katrina Lake is stepping down as CEO. She founded the online styling service a decade ago and took the company public in 2017. As of Aug. 1, she will be succeeded by Stitch Fix president Elizabeth Spaulding. In this article SFIX Stitch Fix shares fell more than 4% Tuesday afternoon after the company announced that founder Katrina […]

Moderna said its Covid-19 vaccine was more than 90% effective at protecting against Covid-19 and more than 95% effective against severe disease up to six months after the second dose. The new data includes cases through April 9 and evaluated over 900 cases of Covid-19, including more than 100 severe cases. The update brings Moderna a step closer to filling […]

Sen. Elizabeth Warren, D-Mass., held a hearing on Tuesday urging President Joe Biden to cancel student debt. More than 415 organizations sent a letter to the president pressuring him to do the same. While the latest stimulus package and a new massive infrastructure bill are the main topics of conversation in Washington of late, President Joe Biden continues to be […]

During the pandemic, just 12% of advisors have had in-person meetings with clients, according to research. Video-call use has surged for advisors, jumping to 48%, up from just 2% before the pandemic. The shift in client communications is likely to stick for many advisors, the study suggests. Ivory Johnson was one of the many financial advisors who were forced to […]

IRS chief Charles Rettig said the agency was on track to start monthly child tax credit payments on July 1. The measure forms a key part of Biden’s recent stimulus law. Democrats want to make the monthly direct payments permanent for parents. See more stories on Insider’s business page. IRS chief Charles Rettig told lawmakers on Tuesday that the agency […]

Millennial demand for homes has left America short of 2.5 million houses, Jefferies writes. Contractors need to build up to 2 million homes to accommodate homebuying millennials, per Jefferies’ note. Cutthroat competition and lumber shortages have sent housing prices soaring. See more stories on Insider’s business page. The housing market is screwing over millennials — unless builders get their act […]

WASHINGTON (Reuters) – Market participants this week staked out their positions on how to fix systemic risks in the $4.9 trillion U.S. money market fund industry, in what is shaping up to be the first big fight for U.S. President Joe Biden’s financial regulators.FILE PHOTO: The United States Department of the Treasury is seen in Washington, D.C., U.S., August 30, […]

NEW YORK (Reuters) -A gauge of global shares rose on Tuesday, led by surging technology-related stocks, as Treasury bond yields eased on U.S. consumer price data for March that showed the pace of inflation was not spiking wildly, as some feared.FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 12, […]

CVS Health and Wegmans have stopped Johnson & Johnson Covid-19 vaccines and are now figuring out how to handle customers' scheduled appointments. The Food and Drug Administration asked states to temporarily halt distribution of the J&J vaccines on Tuesday morning after six women in the U.S. developed a rare blood-clotting disorder. Drugstores and grocers are playing a crucial role in […]