Stock Market

What happened Shares of Canopy Growth (CGC 15.00%) were jumping 18.7% higher as of 11:39 a.m. ET on Tuesday after soaring as much as 25% earlier in the day. The Canadian cannabis producer didn't make any announcements, so why did its shares take off? There are probably three factors that explain today's gain. First, Senate Majority Leader Chuck Schumer, the New York Democrat, released a letter on Sunday that said cannabis banking legislation will be on the agenda for the Senate this summer. Any easing of restrictions on the cannabis...

The UK’s pensions funds have agreed on a deal that could see up to £50bn invested into early-stage businesses.In a speech today at Mansion House in heart of the UK’s financial centre the City London  - and a stone’s throw from AltFi’s HQ - Chancellor Jeremy Hunt has set out plans to funnel the UK’s pension savings toward start-ups and scale-ups. Despite being the largest market for pensions in Europe, long-term UK rules have largely prevented pension funds from investing in privately held businesses to the same extent as other major...