The Bank of Canada has accelerated work on a central bank digital currency (CBDC) in response to Covid-19 and its impact on cash usage, says a senior official who nevertheless cautions that a digital loonie is still not a "forgone conclusion".
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BOSTON/LONDON (Reuters) - Wall Street is gearing up for another week of market mayhem, with signs that the retail frenzy that pumped up the stock prices of the likes of GameStop Corp and AMC Entertainment Holdings Inc is spreading to other assets.
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Some of Wall Street’s largest hedge funds are still licking their wounds after retail traders sought to drive up the prices of stocks that were heavily bet against, resulting in large losses for major investors.
Melvin Capital, a hedge fund at the center of the GameStop drama, lost 53% in January but received commitments for fresh cash from investors in the last days of the month, Reuters reported on Sunday.