By Nikhil Sharma (Reuters) -Canada’s main stock index hit a three-week high on Monday, led by technology and financial shares, as markets continued to rally on Donald Trump’s reelection in the United States. The S&P/TSX composite index was up 107.4 points, or 0.43%, at 24,866.8, hovering near a record high last hit on Oct. 21. The technology sector led the overall gains with a 1.7% jump, buoyed by blockchain-farm operator Bitfarms’s shares that climbed 10.5% … Read more…

By Shashwat Chauhan (Reuters) – Short sellers of cryptocurrency and blockchain-related stocks have suffered heavy losses since Nov. 6, after bitcoin surged to record highs, on optimism U.S. President-elect Donald Trump would implement a more favorable regulatory framework. Crypto short trades looked set for a further hammering on Monday as most cryptocurrency-related stocks jumped in U.S. premarket trading. Among them, Coinbase was last up close to 16%, tracking the surge in bitcoin prices. Traders who … Read more…

By Hannah Lang (Reuters) – The cryptocurrency industry, including heavyweights like Coinbase and Ripple, spent more than $119 million backing pro-crypto U.S. congressional candidates, hoping to boost those who would pass crypto-friendly bills to promote digital assets. The effort succeeded on Tuesday, with many of the industry’s chosen candidates winning their races, potentially ushering in a Congress poised to champion crypto like never before.  Much of the sector’s spending in 2024 came from supercharged political … Read more…

(Reuters) – Tesla’s market value breached the $1 trillion-mark in a sharp rally on Friday, on growing bets of a favorable treatment for CEO Elon Musk’s companies in return for his support for President-elect Donald Trump in his poll campaign. The electric automaker’s shares rose more than 6% to a more than two-year high of $315.56, after having gained 19.3% up to Thursday’s close. The company crossed the $1 trillion valuation for the first time … Read more…

By Timothy Gardner WASHINGTON (Reuters) – The Biden administration said on Friday it has bought its last batch of oil for the Strategic Petroleum Reserve after selling a record amount from the facility in 2022 to counter fuel prices that had risen after Russia’s invasion of Ukraine. The Department of Energy said it had bought 2.4 million barrels of oil for the reserve for delivery from April through May to the SPR’s Bryan Mound, Texas … Read more…

By Jonathan Stempel (Reuters) -A U.S. federal appeals court on Thursday revived a defamation lawsuit accusing CNN of defaming Project Veritas in its explanation of why the conservative group, which is often accused of using deceptive tactics, was suspended from Twitter in 2021. The 11th U.S. Circuit Court of Appeals in Atlanta said Project Veritas could sue over CNN journalist Ana Cabrera’s on-air statement that it was suspended for “promoting disinformation,” rather than for publishing … Read more…