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[CNN] Fed and other central banks try to head off crisis by keeping dollars flowing | CNN Business

The US Federal Reserve and several other major central banks announced a coordinated effort Sunday night to boost the flow of US dollars ...

6 days

[Insider] Read the letter Google employees sent to Sundar Pichai about mass layoffs that tells him: 'Don't Be Evil'

Google employees wrote an open letter to CEO Sundar Pichai asking for better handling of layoffs. * They demanded laid-off staff be notif...

6 days

[CNBC] Bank shares rebound off lows on report big banks coming to the aid of First Republic

Shares of First Republic and several other regional banks cut earlier losses Thursday after The Wall Street Journal reported that some bi...

9 days

[NBC] Amazon sued for not telling New York store customers about facial recognition

Amazon did not alert its New York City customers that they were being monitored by facial recognition technology, a lawsuit filed Thursda...

9 days

[CNBC] Credit Suisse shares slide 20% after Saudi backer rules out further assistance

Shares of embattled bank Credit Suisse hit another all-time low for a second consecutive day, dropping by as much as 18.3% around 10 a.m....

10 days

[CNBC] Goldman Sachs no longer expects the Fed to hike rates in March, cites stress on banking system

Goldman Sachs no longer sees a case for the Federal Reserve to deliver a rate hike at its meeting next week, citing "recent stress" in th...

12 days

[Reuters] U.S. Treasury says Silicon Valley Bank, Signature Bank 'not being bailed out'

New policies adopted on Sunday by U. S. banking regulators will "wipe out" equity and bondholders in Silicon Valley Bank (SIVB.O) and Sig...

12 days

[CNBC] Wall Street — not taxpayers — will pay for the SVB and Signature deposit relief plans

WASHINGTON — Plans announced Sunday to fully reimburse deposits made in the collapsed Silicon Valley Bank and the shuttered Signature Ban...

13 days

[NBC] Silicon Valley Bank collapses in biggest bank failure since Great Recession

Silicon Valley Bank, the 16th largest bank in the United States, is shut down. With $175 billion in deposits, it is the biggest American ...

15 days

[NBC] Crisis at Silicon Valley Bank accelerates as tech sector worries spill onto Wall Street

Tech sector fallout is spilling into the banking industry, as investors gauge the odds of survival for Silicon Valley Bank, a major start...

16 days

[Insider] The panic around Silicon Valley Bank is spreading to Europe

* At least 10 European VC funds have told their founders to pull funds out of Silicon Valley Bank. * That follows prominent US investors ...

16 days

[Yahoo Finance] Stocks Will Be Stuck on Fed Until a Recession Becomes Evident, BofA Says

US stocks hanging on Federal Reserve policy signals are boxed in a “neurotic” trading range that will only break once economic data unamb...

16 days

[AP] Jaded with education, more Americans are skipping college

JACKSON, Tenn. (AP) — When he looked to the future, Grayson Hart always saw a college degree. He was a good student at a good high school...

16 days

[The Guardian] Women earn $1m less than men over lifetime and retire with $136,000 less super, study finds

Women in Australia earn $1m less on average over their lifetimes than men and retire with $136,000 less in superannuation, according to r...

18 days

[NY Times] Debt Default Would Cripple U.S. Economy, New Analysis Warns

WASHINGTON — The U. S. economy could quickly shed a million jobs and fall into recession if lawmakers fail to raise the nation’s borrowin...

18 days

[Reuters] Fed's Powell, in Hill appearance, to update views on status of 'disinflation'

At his last press conference U. S. Federal Reserve Chair Jerome Powell said confidently a "disinflationary process" had begun, showing a ...

18 days

[The Guardian] World Bank chief condemned over climate stance to step down

World Bank president David Malpass on Wednesday said he would leave his post by the end of June, months after running afoul of the White ...

about 1 month

[Huff Po] Starbucks Busted For Illegal Union Busting

The three-member panel’s decision affirms a judge’s findings in 2021 that the coffee chain violated employees’ rights repeatedly in late ...

about 1 month

[WSJ] Fed’s Interest-Rate Strategy in 2023 Hinges on How Quickly Rate Increases Slow Economy

The Federal Reserve will need to gauge how effective rate increases have been in cooling economic growth. The Federal Reserve will need t...

about 2 months

[CNN] Major railroad posts record earnings, spends more on share repurchases than on its employees | CNN Business

is driving the US market Major railroad posts record earnings, spends more on share repurchases than on its employees 'That is an outrage...

2 months

[CNBC] The richest 1% of people amassed almost two-thirds of new wealth created in the last two years, Oxfam says

Over the last two years, the richest 1% of people have accumulated close to two-thirds of all new wealth created around the world, a new ...

2 months

[Reuters] Goldman Sachs readies biggest layoffs since the financial crisis

Jan 9 (Reuters) - Goldman Sachs Group (GS.N) will start cutting thousands of jobs across the firm from Wednesday, two sources familiar wi...

3 months

[CNBC] Bulk carrier ship Glory grounded in Suez Canal, says shipping agency

The Suez Canal Authority said work was underway to tow bulk carrier Glory after it suffered an engine failure Monday morning.Shipping age...

3 months

[Business Insider] US labor officials say Apple violated the law by allegedly interrogating employees and holding mandatory meetings about unionization

The National Labor Relations Board said Apple violated federal law at an Atlanta retail location in relation to union efforts at the stor...

4 months

[WAPO] Real ID requirement for air travel delayed, again

Americans will have two more years to obtain a Real ID driver’s license or identification card, the Department of Homeland Security annou...

4 months

[MSN] Supreme Court likely to rule that Biden student loan plan is illegal, experts say. Here's what that means for borrowers

The Supreme Court will decide whether or not the president's debt relief policy causes harm to the plaintiffs or is an overreach of execu...

4 months

[NYT] Crypto Lender BlockFi Files for Bankruptcy as FTX Fallout Spreads

BlockFi, a cryptocurrency lender and financial services firm, filed for bankruptcy on Monday, becoming the latest company in the crypto i...

4 months

[AP] Biden calls on Congress to head off potential rail strike

OMAHA, Neb. (AP) — President Joe Biden on Monday asked Congress to intervene and block a railroad strike before next month’s deadline in ...

4 months

[Reuters] Dollar rises broadly, yuan slumps as China's COVID unrest rattles sentiment

SINGAPORE, Nov 28 (Reuters) - The dollar gained broadly on Monday as protests against COVID restrictions in China stoked uncertainty and ...

4 months

[VICE] FTX Owes Money to More Than a Million People, Court Filing Suggests

The embattled and now bankrupt cryptocurrency exchange FTX may owe more than a million people money, according to a Tuesday court filing....

4 months

[CNBC] Bitcoin will fall further, says fund manager — until this one catalyst kicks in

One key thing is needed for a rally in bitcoin prices, according to Michael Howell from Cross Border Capital: liquidity. Howell, a fixed ...

4 months

[Reuters] Crypto needs oversight to avoid harming Americans, White House says

WASHINGTON, Nov 10 (Reuters) - Cryptocurrencies risk harming everyday Americans without proper oversight and the latest news involving cr...

5 months

[CNBC] Boston is now America's second most expensive city for renters

he city's ongoing housing shortage is difficult to overcome due to zoning laws that favor single-family homes, according to the report. O...

5 months

[NBC] Dow soars 1,200 points, S&P 500 jumps 5% in biggest rally in two years after light inflation report

Stocks mounted their biggest rally since 2020 after October’s reading of consumer prices raised investor hopes that inflation has peaked....

5 months

[Politico] A crypto titan dumped millions into the midterms, then lost a fortune

A crypto titan dumped millions into the midterms, then lost a fortune The crisis has demolished Sam Bankman-Fried’s public image as a go-...

5 months

[Reuters] Keurig Dr Pepper CEO resigns after code of conduct violation

Nov 10 (Reuters) - Keurig Dr Pepper Inc (KDP. O) said on Thursday Chief Executive Ozan Dokmecioglu has resigned from his role on account ...

5 months

[NY Times] Paul G. Allen’s Art at Christie’s Tops $1.5 Billion, Cracking Records

Attesting to the apparent immunity to world events of the uppermost sliver of the art market, bidding at the sale was vigorous on several...

5 months

[Insider] Meta says it will lay off more than 11,000 employees

Meta on Wednesday said it planned to lay off more than 11,000 employees, or 13% of its workforce.Its founder and CEO, Mark Zuckerberg, sa...

5 months

[Politico] 6 takeaways from the FTX debacle

Poof.Yesterday, amid growing concerns about its liquidity and entanglements with a crypto trading fund, the high-profile crypto exchange ...

5 months

[Insider] Salesforce is planning to slash as many as 2,500 jobs, according to a report

* Salesforce is being pressured by an activist investor to improve its financial performance. * The company told CNBC this week that it h...

5 months

[The Guardian] Colorado gig drivers make an average of just $5.49 an hour, study finds

Drivers for platforms like Lyft, Uber and DoorDash in Denver, Colorado, on average make significantly less than minimum wage when account...

5 months

[VICE] ‘We Don’t Have Enough Sales’: RedFin Kills Home-Flipping Business Citing Downturn

RedFin is laying off 862 people and closing its high-tech house flipping business, the real estate company announced Wednesday. To make t...

5 months

[CNBC] Apple warns Covid restrictions in China are hurting iPhone production

Apple said in a statement on Sunday that it has temporarily reduced iPhone 14 production because of Covid-19 restrictions at its primary ...

5 months

[NBC] With no Powerball winner, jackpot grows to $1.5 billion and closes in on record

Once again, there was no Powerball jackpot winner, and Wednesday’s $1.2 billion prize grew to an estimated $1.5 billion for the next draw...

5 months

[CNBC] Twitter to begin layoffs Friday, days after Elon Musk's $44 billion takeover

Twitter will be laying off staff Friday, the social media giant said in an email obtained by NBC News. In the email, sent Thursday evenin...

5 months

[CNBC] Private payrolls rose 239,000 in October, better than expected, while wages increased 7.7%, ADP says

Private payroll growth held strong in October while worker pay rose as well, particularly in the leisure and hospitality industry, accord...

5 months

[Reuters] Fed set to deliver another big rate hike, debate December downshift

(Reuters) - U.S. central bankers are expected to keep their inflation fight in high gear this week, even as they intensify a debate over ...

5 months

[Business Insider] A major student-loan company just undermined the GOP-led lawsuit that temporarily halted Biden's debt cancellation

Six GOP-led states said in a lawsuit that Biden's student-debt relief will hurt loan company MOHELA. In response to their appeal, the 8th...

5 months

[ABC] Oil giants rake in steep profits amid high energy prices

Exxon Mobil broke records with its profits in the third quarter, raking in $19.66 billion in net income. The Irving, Texas company said F...

5 months

[CNBC] Elon Musk now in charge of Twitter, CEO and CFO have left, sources say

Tesla CEO Elon Musk is now in charge of Twitter, CNBC has learned. Twitter CEO Parag Agrawal and finance chief Ned Segal have left the c...

5 months

[WSJ] U.S. Wages Rose Rapidly in Third Quarter, Keeping Pressure on Inflation

Worker pay and benefits rose rapidly in the third quarter from a year before, maintaining pressure on inflation. The employment-cost ind...

5 months

[CBS] EU reaches deal to ban new gas and diesel cars by 2035

The European Union agreed on legislation Thursday that would ban the sale of new gas and diesel vehicles in the 27-nation bloc by the yea...

5 months

[WAPO] Prices are down. Supplies are good. Europe’s gas crisis gets a reprieve.

BERLIN — Not long ago, German officials were locked in agonizing debates over which industries should be cut off if the country found its...

5 months

[Insider] Rents are starting to fall across the US — and they're set to drop even more in 2023

If your rent spiked this year, as it did for many Americans, 2023 could give you reason to celebrate. Tom Lawler, a former Fannie Mae ec...

5 months

[CNN] GM pauses advertising on Twitter after Elon Musk takeover

General Motors is pausing its advertising on Twitter now that the social media platform is owned by Tesla CEO Elon Musk, the company said...

5 months

[CNN] Elon Musk has taken control of Twitter and fired its top executives

Elon Musk has completed his $44 billion deal to buy Twitter, a source familiar with the deal told CNN Thursday, putting the world’s riche...

5 months

[CNBC] Meta shares plunge 23% on downgrades, missed earnings and big spending on metaverse

Shares of Meta plunged 23% in premarket trading on Thursday as investors and analysts digested the company's third-quarter earnings miss ...

5 months

[CNN] Mortgage rates top 7% for the first time since 2002 | CNN Business

Mortgage rates rose again this week, topping 7% for the first time since 2002. The 30-year fixed-rate mortgage averaged 7.08% in the wee...

5 months

[The Hill] US economy grew at 2.6 percent rate in third quarter

U. S. economic growth rebounded during the third quarter after six months of steady declines, according to data released Thursday by the ...

5 months

[The Guardian] Germany announces plan to legalize cannabis for recreational use

Germany wants to make it legal for adults to purchase and own up to 30g of cannabis for recreational use and to privately grow up to thre...

5 months

[NBC] Transgender businesswoman buys Miss Universe pageant for $20M

A Thai businesswoman and transgender advocate bought the Miss Universe Organization for $20 million, making her the first woman to own th...

5 months

[Reuters] Tesla faces U.S. criminal probe over self-driving claims-sources

Tesla Inc (TSLA. O) is under criminal investigation in the United States over claims that the company's electric vehicles can drive thems...

5 months

[BBC] Mercedes-Benz becomes latest Western company to pull out of Russia

The firm had announced a full suspension of its operations in Russia in March. It has now sold its 49% stake in the Sollers-Ford joint ve...

5 months

[FORBES] Billionaire No More: Kanye West’s Antisemitism Obliterates His Net Worth As Adidas Cuts Ties

Just days ago, the rapper-cum-fashion entrepreneur Kanye West challenged Adidas to drop him following a weeks-long barrage of antisemitic...

5 months

[CNBC] There's still time for big savers to use 'after-tax contributions' to funnel more into 401(k) plans for 2022

After-tax contributions are different than Roth 401(k) plans. While both strategies involve saving money after taxes, there are some key ...

5 months

[CNBC] JPMorgan president says a recession may be price to pay to beat inflation, market bottom not in yet

JPMorgan Chase President Daniel Pinto has vivid memories of what life is like when a country loses control of inflation. As a child growi...

5 months

[WAPO] Analysis | California Poised to Overtake Germany as World’s No. 4 Economy

California Poised to Overtake Germany as World’s No. 4 EconomyGavin Newsom is as familiar as anyone with the media narrative of earthquak...

5 months

[NBC News] Online movement urges Adidas to cut ties with Kanye West following antisemitic comments

Adidas is facing increased pressure from people online to cut ties with Ye, formerly known as Kanye West, after he made a string of antis...

5 months

[Google News] Mortgage bankers forecast rates to drop to 5.4% in 2023. Here's what that means for home prices.

Mortgage bankers forecast rates to drop to 5.4% in 2023. Here’s what that means for home prices. 'Our forecast is for home-price growth ...

5 months

[WSJ] Tesla Cuts Prices in China as Costs Fall, Competition Heats Up

HONG KONG—Tesla has lowered prices for vehicles sold in China, days after Chief Executive Elon Musk said most materials costs are falling...

5 months

[CNBC] China reports third-quarter GDP grew by 3.9%, beating expectations

BEIJING — China reported Monday that third-quarter gross domestic product grew by 3.9% from a year ago, beating expectations. The data w...

5 months

[The Guardian] Trump Organization to face criminal tax fraud charges in New York court on Monday

The Trump Organization is set to face criminal tax fraud charges on Monday in New York in a trial that could start to tease out the many ...

5 months

[CNBC] Mortgage demand drops to a 25-year low, as interest rates climb

Mortgage demand, which has suffered four straight months of declines, fell last week to the lowest level since 1997, as interest rates co...

5 months

[Yahoo Finance] Effort to Reverse SEC Rejection of Bitcoin ETF Wins Broad Crypto, TradFi Support

An attempt to overturn the U.S. Securities and Exchange Commission's rejection of a bitcoin (BTC) exchange-trade fund (ETF) has won suppo...

5 months

[CNBC] Jeff Bezos is the latest to warn on the economy, saying it's time to 'batten down the hatches'

Amazon founder Jeff Bezos has become the latest corporate leader to warn about the state of the economy, cautioning that rougher times ar...

5 months

[The Guardian] Biden implores US oil companies to pass on record profits to consumers

Joe Biden has called on oil companies to pass on their massive profits to consumers as he announced the release of 15m barrels of oil fro...

5 months

[AP] UK inflation accelerates to 40-year high as food prices rise

LONDON (AP) — British food prices rose at the fastest pace since 1980 last month, driving inflation back to a 40-year high and heaping pr...

5 months

[The Guardian] Louisiana pastor admits stealing $900,000 from church and congregants

A Baptist minister renowned in Louisiana has acknowledged stealing nearly $900,000 from his church, affiliated rental properties, his con...

5 months

[CBS] McDonald's will start to sell Krispy Kreme donuts at select locations

Two fast iconic food chains will soon be joining forces – McDonald's is partnering with Krispy Kreme, testing out donuts at select locati...

5 months

[Reuters] Hyundai Motor is considering selling its Russia plant - media report

SEOUL, Oct 18 (Reuters) - South Korea's Hyundai Motor (005380. KS) is considering options for its suspended Russia operations that could ...

5 months

[CNBC] Netflix crushes expectations across the board, adds 2.41 million subscribers

Netflix shares skyrocketed more than 10% after the bell Tuesday after the company posted better-than-expected earnings on the top and bot...

5 months

Biden To Release Oil Barrels From Reserve To Ease Gas Prices

WASHINGTON (AP) — President Joe Biden will announce the release of 15 million barrels of oil from the U. S. strategic reserve Wednesday a...

5 months

[CNBC] Goldman CEO David Solomon says there's a good chance of a recession and so it's time to be cautious

Goldman Sachs CEO David Solomon cautioned Tuesday that the U. S. economy might be headed for a downturn that could make investing and bus...

5 months

[NBC] MacKenzie Scott donates record-breaking $84.5 million to Girl Scouts

Billionaire philanthropist MacKenzie Scott has donated $84.5 million to the Girl Scouts, the organization said Tuesday. The gift from Sc...

5 months

[CBS] Student loan forgiveness application website is now live

By COLLIN BINKLEY and SEUNG MIN KIM, Associated Press WASHINGTON -- President Joe Biden on Monday officially kicked off the application ...

5 months

[LA Times] Think food inflation is bad now? Wait till Kroger and Albertsons merge

The gargantuan proposed $24.6-billion merger of supermarket behemoths Kroger and Albertsons is being touted by the merger partners as a b...

5 months

[Reuters] Russia fines Amazon over banned content for first time

MOSCOW, Oct 18 (Reuters) - A Moscow court on Tuesday said it had fined Amazon.com Inc (AMZN. O) 4 million roubles ($65,000) for failing t...

5 months

[Huffington Post] Film Star Anna May Wong Will Be First Asian American To Appear On U.S. Currency

American currency will feature an Asian American for the first time next week when the U. S. Mint begins releasing quarters featuring Ann...

5 months

[CNBC] Kanye West is buying conservative social media platform Parler, company says

Controversial social media networking site Parler says it is being acquired by Kanye West. The platform, a favorite among American conser...

5 months

[CBS] Exxon fully withdraws from Russia after Putin seizes assets

Exxon Mobil on Monday said it has fully exited Russia, with the energy giant saying that President Vladimir Putin had expropriated its as...

5 months

[Reuters] More U.S. companies charging employees for job training if they quit

WASHINGTON, Oct 17 (Reuters) - When a Washington state beauty salon charged Simran Bal $1,900 for training after she quit, she was shocke...

5 months

[NY Times] China Delays Indefinitely the Release of G.D.P. and Other Economic Statistics

BEIJING — China, the world’s second-largest economy, announced without explanation on Monday that it was delaying indefinitely the releas...

5 months

[The Guardian] UK homes cancel streaming services to reduce spending

Almost 1m British households have given up on the streaming revolution so far this year, as the cost of living crisis forces increasingly...

5 months

[CBS] Stimulus checks: 10 million people are still eligible for payments — but have 1 month to claim them

Three rounds of stimulus checks during the pandemic helped millions of Americans weather the crisis, but there may still be as many as 10...

5 months

[CBS] Social Security is set to announce biggest benefit hike since 1981.

Every fall, the Social Security Administration makes an announcement that has a major impact on the 66 million people who receive benefit...

5 months

[AP] California expands largest US illegal pot eradication effort

SACRAMENTO, Calif. (AP) — With California’s four-year-old legal marijuana market in disarray, the state’s top prosecutor said Tuesday tha...

5 months

[CNBC] Wholesale prices rose 0.4% in September, more than expected as inflation persists

Wholesale prices rose more than expected in September despite Federal Reserve efforts to control inflation, according to a report Wednesd...

5 months

[Yahoo Finance] The stock market's 'nightmare' chart is already a reality

One of the most interesting bits of analysis that gets passed around is a chart tucked into Bank of America’s Global Fund Manager Survey....

5 months

[BBC] Recession risk rises as economy unexpectedly shrinks

The UK economy unexpectedly shrank in August, strengthening predictions that it will fall into a recession. The surprise 0.3% drop came ...

5 months

[Reuters] Elon Musk sells $1 million worth of new perfume, 'Burnt Hair'

Oct 12 (Reuters) - The world's richest man, Elon Musk, has scented a new opportunity to capitalise on quirky products, launching a perfum...

5 months

[CNBC] Demand for riskier home loans is high as interest rates soar

Mortgage demand dropped again last week as rates climbed higher, but one type of loan is attracting borrowers. Adjustable-rate mortgages,...

5 months

[LA Times] Dodger Stadium concession workers get $10-per-hour raise as part of new contract

Three months after threatening to strike the All-Star Game, Dodger Stadium concession workers ratified a contract that provides what a un...

5 months

[NY Times] Biden Proposal Could Lead to Employee Status for Gig Workers

The proposal is intended as a so-called interpretive rule that doesn’t have the legal force of a regulation specifically authorized by Co...

6 months

[CNBC] Nissan takes $687 million loss as it sells Russian business for 1 euro

Nissan Motor Co Ltd will hand over its business in Russia to a state-owned entity for 1 euro ($0.97), it said on Tuesday, taking a loss o...

6 months

[CNN] Israel and Lebanon reach historic agreement, paving the way to potentially rich gas exploration | CNN

Israel and Lebanon have reached a historic agreement, leaders on each side said separately on Tuesday, settling a years-long maritime bor...

6 months

[LA Times] California repeatedly warned about spiking gas prices, fragile supply. But fixes never came

California officials have had repeated warnings over the last two decades that the state’s unique blend of gasoline is susceptible to sup...

6 months

[WAPO] The U.S. is the world’s largest oil producer. You’ll still pay more for gas.

But the oil cut raised a question. Over the past few decades, various presidents have stressed the importance of U. S. “energy independen...

6 months

[Reuters] Chinese chip makers' shares slump after U.S. publishes new export rules

Shares in Chinese semiconductor companies slumped on Monday, following the latest U. S. crackdown on China's chipmaking industry to slow ...

6 months

[FOX] After OPEC oil cut, Washington Post claims Biden’s foreign policy with Saudi Arabia has ‘failed’ ‘badly’

The Washington Post editorial board did not mince words about President Joe Biden’s attempts to persuade the Saudi Arabian government int...

6 months

[Insider] American is opening an exclusive 600-room hotel in Dallas that the public is not allowed to stay at — see inside Skyview 6

* American Airlines is opening an exclusive employee-only hotel at its Dallas/Forth Worth headquarters. * Scheduled to open in early 202...

6 months

[CNBC] Evaluating when and how this bear market may end

Evaluating when and how this bear market may endA market that surges by 6% over two days to start a week and disgorges three-quarters of ...

6 months

[Insider] An art expert has been fired after he valued a Chinese vase at $1,950 that sold at auction for nearly $8 million

* An art expert in France has been fired after valuing a Chinese vase 4,000 times less than its sale price. * The vase belonged to a wom...

6 months

[CBS] Remote jobs have tripled during the pandemic—these are the top 10 companies hiring for them

Though people are returning to in-office work, the option for remote work remains high and is likely to keep growing. The share of jobs ...

6 months

[Reuters] Tesla's China-made sales hit record following Shanghai factory upgrade

Electric vehicle maker Tesla Inc sold 83,135 China-made vehicles in wholesale in September, smashing its record of monthly sales in China...

6 months

[The Guardian] Amazon to up electric fleet by thousands across UK and continent

Amazon is investing more than €1bn (£880m) to add thousands more electric lorries, vans and cargo bikes to its sprawling fleet of deliver...

6 months