Connect with us

News

NYSE trading glitch costs Interactive Brokers $48mn

Published

on

NYSE trading glitch costs Interactive Brokers mn

Unlock the Editor’s Digest for free

A trading glitch on the New York Stock Exchange earlier month has cost Interactive Brokers $48mn after its customers tried to pile into Berkshire Hathaway shares following a 99 per cent plunge.

The brokerage on Wednesday said it was considering its options “including any claims at law it could assert against NYSE” but said the hit was not material to earnings.

Berkshire Hathaway’s class A shares were among several that plummeted unexpectedly on June 3 because of a technical issue in early trade on the NYSE, which is part of Intercontinental Exchange.

Advertisement

Berkshire’s shares collapsed from about $622,000 to $185 a share before the exchange halted trading.

The price plunge spurred a raft of buy orders during the halt, “presumably expecting those orders to be filled at approximately $185/share when trading resumed”, Interactive said.

The broker, founded by electronic trading pioneer Thomas Peterffy, is popular with retail investors as well as professional traders such as hedge funds.

When trading resumed almost two hours later Berkshire’s shares shot as high as $741,941 within minutes, leading Interactive’s customers to have their orders filled “at various prices during this run-up, including some who were filled at the peak price”.

After markets closed on June 3, NYSE said it would “bust” or cancel, all trades at or below $603,718.3 conducted before trading was halted.

Advertisement

The loss stems from Interactive Brokers’ decision to take over a substantial portion of the trades through its platform “as a customer accommodation” after NYSE on the day told the brokerage that it would not cancel Interactive’s deals as the broker had asked.

NYSE on Tuesday denied Interactive’s subsequent claims for compensation, spurring Wednesday’s notice. NYSE declined to comment.

About 40 securities in total were affected by the June 3 episode, including Barrick Gold and restaurant chain Chipotle. The exchange said the glitch stemmed from a technical issue with price bands published by the group that consolidates the trading data from all the US securities exchanges, known colloquially as the “tape”.

Shares in Interactive Brokers were unaffected by Wednesday’s news, trading up 0.5 per cent by late morning on Wednesday and up about 48 per cent this year.

In 2020 the brokerage lost up to $88mn from the collapse in value of short-term WTI oil futures contracts when it stepped in to pay margin calls owed to clearing houses for customers caught on the wrong side of the trade.

Advertisement

News

US life expectancy reached a record high in 2024 as deaths from drug overdose and Covid-19 dropped | CNN

Published

on

US life expectancy reached a record high in 2024 as deaths from drug overdose and Covid-19 dropped | CNN

EDITOR’S NOTE:  If you or someone you know is struggling with suicidal thoughts or mental health matters, please call the 988 Suicide & Crisis Lifeline by dialing 988 to connect with a trained counselor, or visit the 988 Lifeline website.

People in the United States can expect to live longer than ever, as death rates returned to pre-pandemic levels in 2024.

Life expectancy in the US had been trending up for decades before dropping by nearly a year and a half between 2019 and 2021, but it’s been on the rise again since 2022.

Another 4% drop in the death rate between 2023 and 2024 raised life expectancy by more than half a year.

This dramatic rebound has brought life expectancy at birth up to 79 years in 2024 — the highest it has ever been, the US Centers for Disease Control and Prevention said.

Advertisement

There were 722 deaths for every 100,000 people in the US in 2024 – nearly 3.1 million deaths overall – according to final, age-adjusted data published Thursday by the CDC’s National Center for Health Statistics.

The 10 leading causes of death accounted for more than 70% of all deaths in the US in 2024, led by heart disease and cancer that killed more than 600,000 people each.

But death rates declined for each of the 10 leading causes of death in 2024, including a particularly sharp drop in unintentional injuries — a category that is largely comprised of drug overdose deaths.

Drug overdose deaths spiked during the Covid-19 pandemic, but the rate has been declining since 2022, according to the CDC. In 2024, drug overdose death rates fell among all age groups and among all racial and ethnic groups — leading to a sharp overall drop of more than 26% in one year.

Fentanyl and other synthetic opioids are still involved in most overdose deaths, ​but their involvement is becoming less prevalent — likely a key factor driving the overall decline in overdose deaths. About 6 in 10 overdose deaths in 2024 involved fentanyl or another synthetic opioid, CDC data shows, down from more than 9 in 10 in 2023.

Advertisement

Deaths involving psychostimulants such as methamphetamine and cocaine also declined in 2024, according to the CDC data.

Drug overdoses are still a leading cause of death in the US — more than 79,000 people died from one in 2024 — but provisional data from the CDC shows continued drops into 2025.

Covid-19 quickly rose to the third leading cause of death in the US in the first two years of the pandemic, falling to fourth in 2022 and tenth in 2023, according to CDC data. But it dropped out of the 10 leading causes of death in 2024, replaced by suicide.

There are still tens of thousands of Covid-19 deaths in the US each year, but suicide mortality reached a record high in the US in 2022 and has decreased only slightly in the years since.

In 2024, more than 14 million adults had serious thoughts of suicide, 4.6 million made a suicide plan and 2.2 million attempted suicide, according to survey data from the Substance Abuse and Mental Health Services Administration. Millions of people have called, texted, or sent chats to the 988 Suicide & Crisis Lifeline since mid-2022; about a tenth of those individuals who reached were routed to a specialized subnetwork for LGBTQ+ youth — a service the Trump administration ended last year.

Advertisement

Overall, women can still expect to live a few years longer than men but that gap is shrinking, CDC data shows. The life expectancy for women increased by 0.3 years to 81.4 in 2024, while life expectancy for men increased 0.7 years to 76.5.

Death rates decreased across all racial and ethnic groups between 2023 and 2024, but stark disparities remain. Despite higher than average declines, American Indian men and Black men continued to have the highest age-adjusted death rate in 2024 — about 1,200 deaths and 1,000 deaths per 100,000 people, respectively.

Death rates also decreased across age groups, except among children ages 5 to 14 for whom the death rate held relatively steady between 2023 and 2024.

Infant mortality had been trending down in the US for decades before spiking in 2022, and the latest CDC data shows that recovery is slow. More than 20,000 babies died before they turned 1 in 2024 – about 5.5 deaths for every 1,000 live births. Last year, the Mississippi health department declared a public health emergency over rising infant mortality rates in the state.

Advertisement
Continue Reading

News

Video: Their Mother Was Detained. Now a Minneapolis Family Lives in Fear.

Published

on

Video: Their Mother Was Detained. Now a Minneapolis Family Lives in Fear.

new video loaded: Their Mother Was Detained. Now a Minneapolis Family Lives in Fear.

After a Minneapolis woman was arrested by ICE agents, the children she left behind face an uncertain future. In the days following their mother’s detainment, the oldest daughter spoke to The New York Times.

By Ang Li, Bethlehem Feleke, Ben Garvin and Caroline Kim

January 28, 2026

Continue Reading

News

The FBI conducts a search at the Fulton County election office in Georgia

Published

on

The FBI conducts a search at the Fulton County election office in Georgia

An election worker walks near voting machines at the Fulton County Election Hub and Operation Center on Nov. 5, 2024.

John Bazemore/AP


hide caption

toggle caption

Advertisement

John Bazemore/AP

The FBI says it’s executing a “court authorized law enforcement action” at a location in Georgia that is home to the Fulton County election office.

When asked about the search, the FBI would not clarify whether the action is tied to the 2020 election, but last month the Department of Justice announced it’s suing Fulton County for records related to the 2020 election.

In its complaint, the DOJ cited efforts by the Georgia State Election Board to obtain 2020 election materials from the county.

Advertisement

On Oct. 30, 2025, the complaint says, the U.S. attorney general sent a letter to the Fulton County Board of Registration and Elections “demanding ‘all records in your possession responsive to the recent subpoena issued to your office by the State Election Board.’ “

A Fulton County judge has denied a request by the county to block that subpoena.

Since the 2020 election, Fulton County has been at the center of baseless claims of election fraud by President Trump and others.

In November the sweeping election interference case against Trump and allies was dismissed by a Fulton County judge.

Advertisement
Continue Reading
Advertisement

Trending