Finance
Stocks making the biggest moves midday: INTC, TSLA, AFRM, HOOD
Texas is continuing to stake a claim as a rival to Wall Street as a key financial hub in the United States, with Gov. Greg Abbott on Tuesday saying his state has a “stronger brand than New York.”
“Capital Markets are realizing that the place to be is Texas,” Abbott said on CNBC’s “Squawk Box.”
Abbott’s comments come as Texas continues to emerge as a financial center, complete with its own stock exchange. The Texas Stock Exchange plans to launch in 2026 and recently announced several key hires for its exchange-traded products business.
The financial industry’s leading companies are also working to increase their presence in the Lone Star State. The New York Stock Exchange announced in February it would relocate its Chicago operations to Texas, and on Tuesday, Nasdaq announced it will open a regional headquarters in Dallas.
“Nasdaq is deeply ingrained in the fabric of the Texas economy, and we look forward to maintaining our leadership as the partner of choice for the state’s most innovative companies,” Adena Friedman, Nasdaq CEO, said in a press release.
Trading at most major stock exchanges around the world, including the NYSE and Nasdaq, is done almost entirely electronically. Stocks can trade on multiple exchanges in different locations although they have one designated primary listing.
Texas is also making a play to rival Delaware as a legal home to major companies, touting a more business-friendly legal environment. That includes making it harder for small shareholders to sue companies, as happened to Tesla in Delaware in a legal fight over CEO Elon Musk’s compensation. Tesla has since shifted its state of incorporation to Texas.
“A guy who had the [stock holdings] value of less than a Tesla vehicle was able to try to upend the entire corporate practice of the Tesla company,” Abbott said Tuesday. “That’s just wrong. What we are trying to codify in Texas is ownership of at least 3% of a business before a derivative action can be brought against a company.”
AICPA recommends tax law changes to Congress
TSLA, PLTR, NVDA, HIMS and more
The growing intersection of law and accounting: A critical development for modern business education
New 2023 K-1 instructions stir the CAMT pot for partnerships and corporations
The Essential Practice of Bank and Credit Card Statement Reconciliation
Are American progressives making themselves sad?
-
Blog Post1 week agoEffective Vendor and Supplier Relationship Management for Business Success
-
Technology1 week agoApple Delays AI-Powered Siri Enhancements Until 2026
-
Accounting6 days agoPCAOB sanctions former BF Borgers partner Jaslyn Sellers
-
Personal Finance6 days agoMost of the $124 trillion ‘great wealth transfer’ will go to women
-
Economics6 days agoAmerica’s trade hawks fear the gaps in Trump’s tariff wall
-
Personal Finance6 days agoHere’s how the SALT deduction could change amid Trump’s tax cuts debate
-
Economics6 days agoCPI inflation report February 2025:
-
Economics4 days agoUK monthly GDP data for January