Capitol Report: AGs want new hearing on DOL fiduciary rule to protect retirees

The attorneys general from California, New York, and Oregon filed a motion at an appeals court Thursday, seeking to protect the interests of millions of their current and future retirees after the court vacated the Department of Labor’s fiduciary rule on March. The AGs say that the Department of Labor “appears ready to abandon its … Read more

New movie asks why ’90s smartphone pioneer General Magic failed

In 1993 Sarah Kerruish was part of a filmmaking crew commissioned by tech start-up General Magic to visually capture the creation of their handheld wireless communications device, which enabled the user to download information and receive messages. Or as is it’s called today, a smartphone. “They were totally evangelized and passionate in the belief that … Read more

The Tell: Watch this for early signs the U.S. is tipping toward a debt crisis, says Deutsche Bank

A ballooning budget deficit combined with a rising current-account deficit are raising the odds the U.S. could suffer an emerging-markets-style debt crisis, analysts at Deutsche Bank warned this week. To be sure, danger doesn’t appear imminent and the odds may even be overstated, but the risk is rising and shouldn’t be ignored, wrote Quinn Brody, … Read more

Project Syndicate: 5 thorniest questions about regulating big tech

STANFORD, Calif. (Project Syndicate) — Technology and the largest tech firms are becoming increasingly controversial. Today, there are growing concerns about third parties accessing and manipulating Facebook user data; and before that, there was a raging debate about whether the government should be able to unlock devices belonging to suspects of terrorism or other crimes. … Read more

Wells Fargo probed for possible 401(k) violations

The Labor Department is examining whether Wells Fargo & Co. WFC, -1.00%   has been pushing participants in low-cost corporate 401(k) plans to roll their holdings into more expensive individual retirement accounts at the bank, according to a person familiar with the inquiry. Labor Department investigators also are interested in whether Wells Fargo’s retirement-plan services … Read more

One way for colleges to be less elitist: Don’t fixate on SAT scores

Every year, millions of high school students across the country recall vocabulary words, work through math problems and fill out bubble sheets under time pressure with the hope of getting into their dream school. But new evidence suggests that there may be a benefit to curbing that anxiety-ridden ritual. When colleges allow students to apply … Read more

Market Extra: Amazon stock options suggest a big move after earnings

The Wall Street bookmakers’ line on how much Inc.’s stock will move after earnings suggests a tamer-than-usual reaction, but that doesn’t mean it will be a snoozer. That’s because history shows that, of the biggest technology companies by market capitalization, Amazon AMZN, +2.75%  has had the wildest one-day, post-earnings swings. Amazon reports first-quarter results … Read more

The Ratings Game: It wasn’t the queso: Chipotle’s new CEO and price hikes drive earnings beat

More than two years after illness outbreaks sunk Chipotle Mexican Grill Inc.’s customer traffic and share price, the company is showing signs of a turnaround owed to a new chief executive and price hikes, analysts say. Chipotle CMG, +23.25%   reported a 7.4% revenue increase to $1.15 billion, a 2.2% same-store sales increase and earnings … Read more