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A 16-year-old boy has been arrested on suspicion of causing criminal damage in connection with the felling of the world-famous Sycamore Gap tree on Hadrian’s Wall. The boy remains in custody and is assisting officers with their inquiries, Northumbria Police said on Thursday afternoon. Superintendent Kevin Waring, of Northumbria Police, said: “This is a world-renowned landmark and the events of today have caused significant shock, sadness and anger throughout the local community and beyond. “An investigation was immediately launched following this vandalism, and this afternoon we have arrested one suspect in connection with our inquiries. “Given our investigation remains at...

Bizzare theories are swirling tonight over why the world famous Sycamore Gap tree, which appeared in Kevin Costner's 1991 film Robin Hood: Prince Of Thieves, was chopped down in the middle of the night, as a 16-year-old boy is quizzed by police. The much-loved landmark at Sycamore Gap, next to Hadrian's Wall in Northumberland. Mystery surrounds how the damage could have been done, with some theorising that 'a professional who knew where they were going to cut' was responsible, perhaps requiring a torch to complete the job at night. It is possible the perpetrator would have required an accomplice to...

Robinhood said 24-hour trading is coming to its platform as the company that was at the center of the meme-stock frenzy aims to accommodate time-strapped customers while pushing for wider change in trading operations. A rollout of 24 Hour Market will begin May 16 to a "subset" of customers, followed by all customers getting access in June. Trading hours will be from 8 p.m. Eastern Time on Sunday to 8 p.m. Eastern on Friday. "We've often heard from customers that it's tough to find time for investing during regular market hours with work, family, and everything in between," Robinhood said...

VIDEOJoe Biden in Belfast strongly hinted that he is descended from Robin Hood of Nottingham. Not a joke! Perhaps next week Elizabeth Warren will claim to be descended from Montezuma.

Now new research released Wednesday has shed light on this trading frenzy and concluded that a change in how Robinhood and other online brokers report fractional trading data was a culprit. “This volume is due to the interaction of a well-intentioned but misguided FINRA reporting rule, Robinhood trading, and fractional shares,” wrote the authors — Robert Bartlett at University of California, Berkeley, Justin McCrary at Columbia University and Maureen O’Hara at Cornell University. In 2017, the Financial Industry Regulatory Authority started requiring brokers to report fractional trades — sometimes just 1/100th of a share — as if they were for...

In the old days, we used to enjoy movies in which Robin Hood would “take from the rich and give to the poor”. But in the real world things are not supposed to work that way. In a civilized society, property rights are supposed to be respected. Unfortunately, the truth is that the U.S. is becoming less civilized with each passing day. At this point, a “Robin Hood mentality” is starting to emerge all over America. Highly organized gangs of thieves are specifically searching for wealthy targets, and those targets are often being followed all the way home before being...

News AnalysisAmericans and allies are too dependent on China tech, as demonstrated by recent revelations that our Chinese-manufactured credit card machines are sending data back to China for no good reason.The U.S. Treasury Department says that millions of Chinese point-of-sale (POS) devices, the credit card machines found at check-out counters, could be sending customer data back to China for no good reason.Treasury Department lab tests show that the data is encrypted and sent to unknown third parties in China. The transmissions are “superfluous to normal payment transaction processing,” according to a letter from the Treasury’s Office of Cybersecurity and Critical...

Hacker socially engineered customer support employee to obtain millions of names and emails, demanded extortion payment Mobile stock trading platform Robinhood (NASDAQ: HOOD) on Monday fessed up to a security breach that exposed names and email addresses for millions of users and “extensive account details” for what appeared to be very specific targets. The Menlo Park., Calif-based company, which claims that about 13 million users trade stocks ETFs, and cryptocurrencies using its mobile app, said the breach happened on November 3 when a hacker stole names, email addresses, dates of birth, zip codes and additional personal information from its customer...

On Friday, the Menlo Park, Calif.-based brokerage disclosed that transaction-based revenues attributable to Dogecoin, a Shiba Inu-themed token that was created as a joke, represented 8% of its total net revenues of $364.9 million in the third quarter. And while about $30 million is still significant amount for what is ultimately a fledgling asset, it marks a significant pullback from the second quarter, when Robinhood collected 32% of its total revenues from Dogecoin transactions.

GameStop's stock price shot through the roof in late January thanks to traders on Reddit. Now at least two government agencies are reportedly investigating why it happened as well as what roles Reddit and trading app Robinhood played in the stock market craziness.

Reddit’s army of retail traders might not have been only force behind the unprecedented GameStop rally that turned Wall Street upside down, new data show. GameStop was “notably absent” from the list of 10 stocks that retail investors bought the most in January despite the video-game retailer being at the forefront of a supposed market revolution, according to JP Morgan analysts. “Although retail buying was portrayed as the main driver of the extreme price rally experienced by some stocks, the actual picture may be much more nuanced,” Peng Cheng, the megabank’s head of machine learning strategies, wrote in a research...

The online brokerage Robinhood has taken out a full-page ad in the New York Times saying that it is 'humbled' after recent controversy over its limits on buying certain stocks during the 'meme stock' frenzy fueled by an army of small investors on Reddit. The ad on Tuesday follows massive backlash against the popular trading app, which at one point last week restricted the purchase of 50 different stocks as it struggled to meet capital requirements. Shares of GameStop, the struggling video game retailer that was the focus of a buying campaign on the Reddit forum WallStreetBets, slid another 40...

Have you ever heard of the Depository Trust & Clearing Corporation? What about Cede and Company? If those names are foreign to you, then you don’t really understand how the core of our financial system really works. A lot of people are blaming Robinhood CEO Vlad Tenev and the heads of other major trading platforms for the stock trading restrictions that we witnessed last week, but it was actually the DTCC that suddenly jacked up deposit requirements ten-fold. Robinhood and other trading platforms were put in a vise-like grip, and they had no choice but to act. Someone needs to...

Hedge fund Melvin Capital Management lost 53% in January amid a record rally in GameStop and other stocks the fund was betting against, according to The Wall Street Journal citing people familiar with the matter. The heavy losses come as retail investors piled into popular hedge fund short targets, including the struggling video game retailer. Shares of GameStop finished last week with a gain of 400%, bringing its total return this year to 1,625%. The stock closed Friday’s session at $325. As recently as October it traded under $10. CNBC’s Andrew Ross Sorkin reported last week that Melvin Capital closed...

Robinhood Financial has been fined $65 million for misleading its stock market customers about how the company makes its revenue from their trades, the Securities and Exchange Commission said Thursday. The SEC fine comes one day after regulators in Massachusetts filed a lawsuit against Robinhood for allegedly targeting young, inexperienced investors with flashy gimmicks on its app that treat stock investing like a game.

Something bad is about to go down at Robinhood.One day after the company drew down on its bank lines and obtain a $1 billion rescue capital investment, the company found itself in lockdown mode, allowing just a handful of shares to be bought at a time, effectively shutting down in all but name (it couldn't risk another day of furious public outcry and massive client departures if it blocked trading completely).However, just before the close, things got downright surreal when in a blog post the broker - which should probably change its name from Robinhood to Suit - made a...

Google appeared to remove nearly 100,000 negative reviews for the Robinhood app after outraged investors bombarded the stock-trading startup with complaints. Amateur traders urged each other online to leave negative reviews for the app in the Google Play Store after Robinhood froze trading on shares of GameStop and other stocks whose prices have exploded this week. The campaign appeared to work — Robinhood’s Android app had a one-star rating based on nearly 275,000 reviews on Thursday, according to a screenshot captured by 9to5Google. But that number had fallen to just over 176,000 by midday Friday as Google apparently purged the...

Secretary of the Treasury Janet Yellen has come under fire after it was revealed she received payments from a Wall Street hedge fund known as Citadel LLC, which may have played a role in Robinhood’s decision to cancel purchases of shares in retail companies. According to Yellen’s public financial disclosures, she was paid over $800,000 to give speeches to Citadel. Some may wonder why this is significant even after White House press secretary Jen Psaki called Yellen one of the world’s leading experts on economics. “Separate from the GameStop issue, the Secretary of the Treasury is one of the world...

If you are not a member of the ruling oligarchy, you can buy a stock only when it benefits the ruling oligarchy, but not when the oligarch shorted the stock and will lose money. In that case, you can only sell. They, the esteemed members of the system, on the other hand, can do what they want at any point to win the rigged game.

Fox Business host Charles Payne was livid over trading restrictions placed on super-popular stocks. The Robinhood trading app had restricted transactions on certain securities, following the GameStop stock surge that sent its price soaring and Wall Street reeling. Robinhood is one of a number of brokerages like Webull Financial LLC, E*Trade Financial Corp. and Interactive Brokers Group Inc that placed restrictions on securities like GameStop ($GME) and AMC Entertainment ($AMC). The restrictions only left traders with the option to hold or sell, causing stocks like GameStop to give up some of their massive gains. Payne ripped Wall Street for its...