Yahoo Finance's Julie Hyman breaks down top business news headlines today, including a Transportation Department proposal to alter airline delay refund rules, BlackRock and Coinbase teaming up, and Meta pulling the plug on live shopping.
JULIE HYMAN: Some other headlines we're watching now, proposed rules from the Transportation Department could make it easier for travelers with delayed flights to get their money back. Current rules obligate airlines to refund money in case of a significant delay, but the proposal defines what makes something, quote, "significant." Previously, the term was subject to interpretation by airlines. The rule is currently available for public comment and will then be modified, rejected, or approved by the DOT.
BlackRock is making crypto available for institutional investors through a new trading platform launched in partnership with crypto exchange Coinbase. We've been talking about this a lot this morning, in part because of the dramatic reaction we are seeing in those Coinbase shares. This platform will give traders access to Bitcoin for now, although other digital assets are set to come shortly. That's according to "The Wall Street Journal." The integration fulfills promises from BlackRock CEO to offer cryptocurrencies to clients.
And live shopping is now dead, at least on Facebook. The Meta subsidiary pulling the plug on its buy what you see hosted live streams. For reference, think Home Shopping Network for a new generation. Facebook says it's part of its refocus on reels, that short form TikTok clone. And speaking of, while live shopping does remain popular in its origin country of China, the trend doesn't seem to have caught on worldwide. Even stalwarts like TikTok have been pulling back on global live shopping efforts.