Cathy Wood Crystal Mercedes | CNBC This is a breaking news story. Please check back for updates. Ark Investment Management founder and CEO Cathie Wood said she was not worried about the recent drop in her funds and that the bull market is simply broadening out to include more strategies like value and that over time here disruptive strategy would pay off. “Right now the market is broadening out and we think in an underlying sense the bull market is strengthening and that will play to our benefit over the longer term,” Wood said on CNBC’s “Closing Bell” on Monday....

A Starlink user terminal being set up. SpaceX SpaceX wants to begin connecting moving vehicles – from cars and trucks to jets and ships – to its Starlink satellite internet network, according to a request the company filed with the Federal Communications Commission. “This application would serve the public interest by authorizing a new class of ground-based components for SpaceX’s satellite system that will expand the range of broadband capabilities available to moving vehicles throughout the United States and to moving vessels and aircraft worldwide,” SpaceX director of satellite policy David Goldman wrote in a letter to the FCC filed...

European stocks closed higher Monday, as global investors monitored progress toward a U.S. Covid relief bill against the backdrop of rising bond yields. The pan-European Stoxx 600 closed up 2.2%, with banks adding 3.7% to lead gains as almost all sectors and major indexes advanced. Germany’s DAX index rose 3.3% and hit a new intraday high, according to Reuters. Wall Street also saw a rally Monday after hedge fund manager David Tepper said the recent rapid rise in rates is set to stabilize and it’s hard to be bearish on stocks. U.S. futures had headed south in the early hours amid...

Corp. Chief Executive Officer Masayoshi Son speaks during a joint announcement with Toyota Motor Corp. to make new venture to develop mobility services in Tokyo, Japan, 04 October 2018. Alessandro Di Ciommo | NurPhoto | Getty Images LONDON — British financial services firm Greensill Capital has filed for administration, according to a report from the Financial Times. Greensill’s lawyers reportedly appeared before a U.K. court on Monday saying the company has fallen into “severe financial distress” and that it can no longer pay its debts. Filing for administration in the U.K. aims to help a company pay off its debts...

10’000 Hours | DigitalVision | Getty Images While progress toward gender equality may be slow and not without its shortfalls, experts say some firms have singled out their own internal issues and are trying hard to turn things around.  A PwC report last week warned that women’s progress in the workplace in terms of achieving gender equality was expected to fall back to 2017 levels as a result of the pandemic. It warned that in order to undo the pandemic’s damage to women’s position in the workplace by 2030, progress needed to be twice as fast when compared to the...

Kate Cardente holds her then 3-month-old daughter, Ainsley, as she undergoes a gene therapy for Spinal Muscular Atrophy (SMA). SMA is a disease that is the primary genetic cause of death in babies. Ainsley is getting a one-time infusion of Zolgensma. Baltimore Sun | Tribune News Service | Getty Images LONDON — A drug that has been labeled the “most expensive drug in the world” has been approved by the U.K.’s National Health Service, a move that could be life-changing to babies and children suffering with a rare genetic disorder. The innovative gene therapy called “Zolgensma” does not come cheap,...

US President Joe Biden has reportedly agreed to lower the income level caps for the third round of stimulus payments. BRENDAN SMIALOWSKI | AFP | Getty Images LONDON — The U.S. and the European Union might have reached a trade truce, but some analysts have doubts over whether the two sides will be able to agree on other contentious issues such as digital taxation and relations with China. U.S. President Joe Biden and European Commission President Ursula von der Leyen announced on Friday a suspension of tariffs imposed during the Trump presidency over aircraft subsidies. The dispute first emerged in...

Visitors queue to play the video game Fallout 76, developed and published by Bethesda Softworks, during the Paris Games Week on October 27, 2018. Chesnot | Getty Images LONDON — The European Union approved Microsoft’s $7.5 billion acquisition of ZeniMax, the parent company of iconic video game publisher Bethesda Softworks. The European Commission — the executive body of the EU — made the decision to clear the Microsoft-ZeniMax deal on Friday, according to an update on its merger case register. The Commission says it found no competition concerns resulting from the takeover. Microsoft announced it would buy ZeniMax in September....

The 10-year U.S. Treasury yield hit 1.6% on Monday morning, after the Senate passed a $1.9 trillion coronavirus economic relief and stimulus bill on Saturday. The yield on the benchmark 10-year Treasury note climbed to 1.606% at 3:30 a.m. ET. The yield on the 30-year Treasury bond rose to 2.311%. Yields move inversely to prices. Senators passed the stimulus bill through budget reconciliation, a process that required no Republican support but every Democratic vote. The Democratic-held House aims to pass the bill on Tuesday, and send it to President Joe Biden for his signature before a March 14 deadline to renew unemployment...

Students wait in line to cast their ballot at a polling station on the campus of the University of California, Irvine. Robyn Beck | AFP | Getty Images A survey from Deutsche Bank has given an insight into how much cash from U.S. stimulus checks might find its way into the stock market. Responses in the survey showed that half of 25 to 34-year-olds plan to spend 50% of their stimulus checks on stocks, leading the German investment bank to state that “a large amount of the upcoming U.S. stimulus checks will probably find their way into equities.” Meanwhile, 18...