Altercation at Arlington National Cemetery involving Trump campaign staff identified. Father of Georgia school shooter faces criminal charges. August job numbers released. Stakes high as economy and Federal Reserve shift gears.
Red Lobster is exiting Chapter 11 bankruptcy after a federal judge approved its restructuring plan. The seafood restaurant chain faced struggles including debt, closures, and bad business decisions. A group of investors will acquire the chain, with a new CEO appointed.
Seven & i Holdings rejected a takeover offer from Alimentation Couche-Tard, stating it undervalues the company and does not consider regulatory challenges. Artisan Partners urged Seven & i to consider the offer due to overlooked capital allocation overseas.
The Biden administration is implementing new export controls on critical technologies, including quantum computing and semiconductor goods, to keep pace with China's advancements in the global chips industry.
The pay-TV industry lost 1.6 million subscribers in the second quarter of 2024 and is projected to continue declining. The shift to streaming services is attributed to the excessive costs and bundling of unwanted channels in cable and satellite TV packages.
DirecTV is facing backlash from angry customers over an ESPN blackout due to a contract battle with the Walt Disney Company. Customers are threatening to cancel subscriptions and switch to alternative streaming platforms. DirecTV is responding by explaining that disputes are common across the industry and urging customers to stay patient.
U.S. job growth in August was weaker than expected, with the economy adding 142,000 jobs, lower than the forecast of 160,000. Prior months' job growth was also revised down. Unemployment rate dipped to 4.2% from 4.3% in July. Average hourly earnings increased by 0.4% to $35.21, with a 3.8% increase over the past year.
The US Department of Transportation is probing the rewards programs of major US airlines to understand their impact on consumers. The probe could lead to changes that disrupt the profit centers for airlines and credit-card issuers. Loyalty programs have come under fire for luring customers with rewards and then stripping perks. The Transportation Department has taken a hard line with airlines on practices harming consumers, and the probe is the latest in a series of government actions.
Michael Smith, a man from the United States, is accused of using AI-produced music and bots to generate billions of fake music streams and collect over $10 million in royalty fees. He faces a three-count criminal indictment in North Carolina federal court.
Chinese migrants are leaving China for Mexico in search of opportunities, freedom, and better financial prospects. Many are starting businesses in Mexico's capital, taking advantage of the country's proximity to the U.S. The new wave of Chinese immigrants is diverse and includes individuals from various regions of China.
NFL expands international presence with games in Europe and South America, aiming to grow brand globally and increase revenue through sponsorship deals and media partnerships.
Wall Street investors are rapidly selling Carl C. Icahn's company's stock as its value has dropped more than 75% in the past year and a half. Icahn is under intense scrutiny, personally losing billions. Concerns arise about the health of the company and potential forced sales. Questions about Icahn's personal stock sales and loans have been raised, leading to a sharp decline in his company's stock price.
The S&P 500 dropped and headed for its worst week since March 2023 as investors worry about weak August jobs report. Megacap tech stocks tumbled, and the Fed may cut rates more aggressively. International equities are recommended for diversifying portfolios. The Federal Reserve is likely to lower interest rates by 25 basis points. Information technology and energy sectors declined significantly. Stocks like Broadcom and Nvidia faced substantial losses. Stock markets are on track for their worst week since early 2023.
US hiring fell short of forecasts in August, sparking debate over Federal Reserve interest rate cuts. Unemployment rate edged down to 4.2%, first decline in five months. Job market showing signs of softening, with companies delaying expansion plans amid high borrowing costs and election uncertainty.
Federal Reserve Bank of New York President John Williams believes it is appropriate for the central bank to reduce interest rates due to progress in lowering inflation and a cooling labor market.
88 current and former top executives from corporate America endorse Vice President Kamala Harris for president, citing her support for a strong economy and democracy. The endorsement letter is a show of force for Harris ahead of a tight race and the first presidential debate.
Americans are experiencing higher prices for barbecue staples and groceries this Labor Day weekend, with significant increases in the cost of items like propane, ground beef, hotdogs, chicken, beer, lettuce, salad dressing, and more. Gas prices have also risen by 50% since January 2021, impacting travel costs. Rising grocery prices have led to increased concern about inflation, with many Americans disapproving of Biden's handling of the issue.
Millions of Brazilian users were shut out of the social network X as Elon Musk refused to comply with local laws, leading to a ban by the supreme court. Many users switched to the rival platform Bluesky, with 500,000 new users joining in two days.
Amazon's fulfillment centers in India have been the subject of complaints of unsafe conditions for workers, similar to the U.S. workers' concerns. NPR covers the company independently even though Amazon is among its financial supporters.
The GDP growth in the second quarter was revised up to a strong 3% annual rate, which is good news for Vice President Kamala Harris. The economy has shown underlying strength despite concerns about inflation and a weakening labor market.
Yelp has filed an antitrust lawsuit against Google, accusing it of engaging in anticompetitive practices in the local search market. The lawsuit alleges that Google favors its own vertical over competitors' and harms competition.
A 60-year-old Wells Fargo employee in Arizona was found dead in her cubicle four days after she last scanned into the office. The cause of death is pending, with no signs of foul play reported.
ESPN is transitioning from a TV news network to a sports lifestyle brand, focusing on sports betting, streaming, and social media presence. The company plans to use AI to personalize content and is willing to take brand risks to compete with Big Tech. This shift in ethos will define ESPN's next era.
Discount home goods retailer Big Lots is facing bankruptcy after years of falling sales and store closures, with stock plummeting and ongoing financial challenges.
Doomsday bunker company in Dallas sees increase in clients amid fears of social unrest in the U.S. Many Americans believe a civil war could happen. Bunkers are sold for up to a million dollars with luxurious interiors.
Kevin O'Leary criticizes Vice President Kamala Harris' plan for an unrealized capital gains tax, calling it un-American and harmful to small businesses.
Gen Z is increasingly gravitating towards blue-collar careers due to soaring college education costs and the appeal of skilled trades offering job security and financial stability. Individuals like Crist Morillon, Chase Gallagher, and Ryan Daniels have found success and financial security by pursuing careers in automotive technology, landscaping, and pressure washing, respectively, instead of opting for a traditional college education.
Stocks rose on Thursday as investors looked to recover from previous session declines. Economic data and post earnings moves from Nvidia and Salesforce influenced market sentiment. Berkshire Hathaway's Class A shares crossed the $700,000 threshold. Affirm's CEO reported a 'killer quarter' and shares popped nearly 25% before the market's open. Economic growth was revised higher for the second quarter. Bank of America analyzed the potential impact of the U.S. presidential election on large-cap internet stocks.
Ashley Furniture is having a Labor Day sale with up to 40% off on outdoor furniture, dining sets, bedroom sets, and mattresses. The sale runs through September 9th.
Sultan Hassanal Bolkiah owns the world's largest private car collection worth $5 billion, including 500 Rolls-Royce cars. He also owns the largest residential palace covered in 22-carat gold. His total net worth is $30 billion, mostly from oil reserves and natural gas.
Liz Magill, former UPenn president who resigned after controversial Congressional testimony on antisemitism, has accepted positions at Harvard Law School and the London School of Economics. She remains a law professor at UPenn as well.
The U.S. economy grew at a faster pace of 3% in the second quarter, up from the initial estimate of 2.8%, driven by increased consumer spending.
The GDP growth in the second quarter was revised up to 3%, showing underlying strength in the economy despite signs of a weakening labor market. Vice President Kamala Harris will likely highlight this good news on the campaign trail. Inflation remains a concern for voters, with prices up nearly 20% since Biden took office. The Fed is expected to start cutting interest rates in response to economic conditions.
The article discusses the impact of Governor Tim Walz's progressive policies on business owners in Minneapolis, highlighting the aftermath of the George Floyd riots and the challenges faced by small business owners due to increased criminal activity and unfriendly business environment.
Michael Lacey, former owner of Backpage.com, has been sentenced to five years in prison and fined $3 million for money laundering in a case involving promoting and profiting from prostitution. Two other Backpage executives were also sentenced to 10 years in prison. Backpage generated $500 million in prostitution-related revenue before being shut down in 2018.
Over 250 workers have died in preventable trench collapses in the last decade, with at least 20 fatalities in Texas. Critics argue that laws are not enforced adequately.
Tesla's 'Full Self-Driving' system is facing increased scrutiny due to safety concerns and incidents, despite Elon Musk's claims of its capabilities. Experts doubt its readiness for widespread use and question its reliance on cameras and computers for navigation.
Investors are expecting the Federal Reserve to make significant interest rate cuts throughout the year, despite the lack of clear indicators for a serious economic downturn.
Vice President Kamala Harris's proposal to tax unrealized capital gains is controversial and may be unconstitutional, unworkable, and economically destructive, according to tax experts. The proposal is part of a plan to increase taxes by $5 trillion over ten years.
CNBC hosts clash with Harris campaign adviser over Biden-Harris tax proposal that includes a tax on unrealized capital gains. Debate over fairness and constitutionality of the proposal.
Fourteen state treasurers urge Business Roundtable to reject woke activism and focus on making corporations politically neutral. They argue that corporations have shifted leftward and should return to maximizing value for shareholders. Business Roundtable doubled down on supporting leftist stakeholders, promoting ESG and DEI policies. Some corporations are moving away from DEI policies and focusing on merit and excellence.
McDonald's introduces the Big Arch, its largest burger to date, to satisfy customer demand for heartier and affordable burgers. The burger contains two quarter-pound beef patties, three slices of cheese, crispy onions, pickles, lettuce, and a new tangy sauce. It is currently available in select countries including Canada and Portugal.
Tech executives are facing increasing scrutiny and potential personal liability for content on their platforms, with recent arrests and legal actions raising questions about their accountability. While historically companies have been held responsible for platform transgressions, the threshold for holding individuals liable is lowering, especially in areas like child safety. The arrest of Telegram's founder Pavel Durov in France highlights the potential risks tech executives face, but experts believe these cases are outliers for now.
Top trending back-to-school and dorm room essentials for college students in 2024, including a lettuce wrap blanket, colorful water bottles, a unique alarm clock, trendy hand sanitizer, and a viral crisscross desk chair.
Chinese automaker BYD's low-priced electric vehicle Seagull has American automakers and politicians concerned due to its quality and price. President Biden is expected to impose tariffs on Chinese imports, continuing Trump's tough-on-China trade policies. However, tariffs can lead to job losses and higher costs for U.S. consumers.
A $12 billion casino complex called Wynn New York City is proposed in Hudson Yards, Manhattan, featuring a 5.6-acre park and a casino skyscraper. The project aims to blend in with the High Line park and the waterfront, generating revenue and creating jobs, but faces opposition from some local communities and officials.
The success story of Barstool Sports, from a small Boston newspaper to an internationally recognized media conglomerate, using attractive female models in its marketing strategy. The article also discusses the WNBA potentially adopting a similar 'Sex Sells' approach for business growth.
McDonald's introduces the Big Arch, its largest burger yet, in response to customer demand for heartier and affordable options. The burger features two quarter-pound beef patties, three slices of cheese, crispy onions, pickles, lettuce, and a new tangy sauce.
A record number of 401(k) and IRA accounts contained $1 million or more in the second quarter of 2024, with significant increases from the previous quarter. Average retirement account balances have also seen growth over the last year.
Warren Buffett's Berkshire Hathaway reached a $1 trillion market capitalization, making it the first nontechnology company in the U.S. to achieve this milestone.
The U.S. presidential election is becoming more uncertain with Vice President Kamala Harris gaining in the polls against former President Donald Trump, leading to increased market volatility and adjustments on Wall Street. Harris's prospects have improved since President Joe Biden endorsed her, with various financial institutions adjusting their views and trading strategies accordingly. The impact is visible in individual stocks and sectors, with potential winners and losers depending on the election outcome.
Pennsylvania business owners express skepticism of Vice President Harris' economic proposals due to high taxes in San Francisco as a potential preview of future policies under her leadership.
The Biden-Harris administration's proposal to tax unrealized investment returns is met with criticism and support. Critics argue it would force people to sell off investments, while supporters believe it addresses tax inequality among the wealthy.
Minnesota resident Lisa Zarza commutes out of state to work after losing businesses due to Gov. Tim Walz's COVID rules, expressing frustration with the state's regulations and policies.
Employers are dropping the four-year college requirement, which has traditionally been seen as essential for a middle-class life in America.
Australia has introduced a 'right to disconnect' law, allowing employees to ignore work emails and calls outside work hours without being punished. The law aims to curb the intrusion of work into personal lives, which has increased due to digital technology and the Covid-19 pandemic.
Australian employees now have a 'right to disconnect' allowing them to ignore their bosses outside work hours without fear of punishment.
Chick-Fil-A is reportedly planning to launch a streaming entertainment service featuring family-friendly reality programming. They have been working with major production companies and plan to launch the service later this year.
Nigerian and Ethiopian governments have decided to float their currencies, which could have significant impacts on their economies.
Adrian Ma is a sponsor message encouraging companies to become sponsors of NPR.
Pavel Durov, the founder of Telegram messaging app, was arrested in France due to a lack of moderators on the app allowing criminal activity.
Morgan Stanley's James Gorman to lead Disney's search for Bob Iger's successor. Iger returned in 2022 after rocky transition to his replacement, Bob Chapek. Iger extended contract to end of 2026. Disney facing challenges in parks division. Succession planning committee formed in 2023.
The Port of Seattle and Seattle-Tacoma International Airport experienced a possible cyberattack, causing significant travel disruptions. Authorities are working to restore full service with no estimated time for return.
Gas prices have fallen over 20 cents since May and are expected to continue dropping, possibly reaching $3 per gallon for the first time since 2021. Various factors, including hurricane season, Iran's support for allies, China's low oil demand, and record U.S. oil production, are contributing to the decrease. Experts predict prices may remain low into next year despite the upcoming general election.
Gahanna, a suburb in Ohio, has been named the hottest ZIP code in the country for the second year in a row. It offers affordable homes, good schools, and access to big-city amenities. Other hot ZIP codes include Ballwin in Missouri and Salem in Massachusetts.
The leader of Raheem AI spent nonprofit funds on lavish personal expenses, leading to disillusionment among staff members dedicated to the organization's mission of abolishing law enforcement.
National Labor Relations Board determines that Amazon is a joint employer of subcontracted delivery drivers in Palmdale, California, leading to improved pay and working conditions after a yearlong fight. Teamsters union celebrates the decision.
Big-box retailers like Home Depot, Lowe's, Party City, Michaels, and Starbucks are launching fall and Halloween merchandise earlier than ever, attributing it to early customer demand and the changing consumer behavior post-COVID. Experts suggest that data-driven marketing strategies and the influence of seasonal retailer Spirit Halloween have contributed to the success of these early rollouts.
Investigation opened into the deaths of seven people after a superyacht sank off the Sicilian coast. Possible manslaughter charges being considered. Survivors suggest sinking happened in minutes. Not clear if extreme weather was a factor. Prominent individuals, including British tech magnate, among the casualties.
Elon Musk's social media company, X, is leaving San Francisco for Texas. City officials are not upset about the departure, citing changes in the company and dissatisfaction with San Francisco's tax policies and politics.
Boeing's Starliner spacecraft issues lead to embarrassment as astronauts return on SpaceX craft. Boeing faces image problem and potential future contract risks with NASA. Despite setbacks, Boeing's size and history give it capacity to recover. Comparison with SpaceX program highlights SpaceX's success and Boeing's challenges.
Legal battle between the NBA and Warner Bros Discovery over small-screen basketball rights heats up as the NBA fights to block WBD from showing games awarded to Amazon in a $77 billion deal. NBA argues WBD lacks financial security and reach for the 21st century. WBD faces challenges with declining stock and postponed sports streaming joint venture. October 4 hearing on NBA's bid to dismiss WBD's suit coincides with NBA pre-season games.
New research presented at the Kansas City Fed's annual research conference in Jackson Hole questions the long-held belief that U.S. Treasuries are the world's 'safe haven' securities. The study suggests that during and after the COVID-19 pandemic, Treasuries behaved similarly to debt issued by other countries and big corporations.
Telegram CEO Pavel Durov revealed he has over 100 biological children after donating sperm to help infertile couples, drawing comparisons to Genghis Khan and Elon Musk.
Harley-Davidson facing controversy over CEO's 'woke' initiatives, comparisons to Taliban, and subsequent reversal of DEI policies. Outrage on social media and rebellion among loyal customers.
The Walt Disney Company reversed its decision to toss a wrongful death suit over a Disney+ agreement.
Silicon Valley is facing significant job cuts as major tech companies announce layoffs due to economic pressures and shifting industry priorities. Companies like Intel and Cisco are reducing their workforce, while smaller firms like Rapid Robotics are seeing growth in AI-related roles.
A federal judge in Texas blocked the Federal Trade Commission's rule banning non-compete employment agreements, citing lack of authority and ruling it as unlawful. The ruling stops the ban from taking effect on Sept. 4, affecting around 30 million American workers.
The administration of Canadian Prime Minister Justin Trudeau is not intervening in a labor dispute between railroad companies and unions, potentially leading to a complete shutdown of rail freight with devastating consequences for Canadian and American businesses.
China has been quietly accumulating vast quantities of gold and silver, potentially shifting the global economic landscape. The country's strategic moves in the precious metals market could impact Western economies and lead to a 'silver squeeze' similar to that of 1980.
Donald Trump has made over half a billion in income from his golf clubs and resorts over the past 16 months, but faces significant liabilities from lost lawsuits. His golf courses include Mar-a-Lago, Doral, Bedminster in the U.S., and Turnberry in Scotland. Trump's media company, Trump Media, has been experiencing losses.
The article discusses Vice President Kamala Harris' proposal to ban price gouging on food and groceries, with conflicting views on whether it amounts to price controls. Critics and media outlets have slammed Harris' policy proposal, while some defend it as in line with existing U.S. laws.
A superyacht sank off Sicily in a storm, resulting in four recovered bodies and two missing passengers, including British tech tycoon Mike Lynch's daughter. The yacht was owned by a firm linked to Lynch's wife. The incident follows Lynch's acquittal of fraud charges earlier in the year.
Disney waives arbitration rights in wrongful death lawsuit, allowing suit to proceed in court after backlash. Lawsuit brought by husband of New York doctor who died from allergic reaction at Disney Springs restaurant. Disney previously argued victim waived rights by signing up for Disney+ trial.
Revised government data shows that the U.S. economy added 818,000 fewer jobs than previously estimated from spring 2023 to spring 2024, indicating the labor market was not as strong as believed. The revision undercuts claims by Kamala Harris about the strength of the job market.
The U.S. economy created 818,000 fewer jobs than originally reported in the 12-month period through March 2024, indicating a weaker labor market and potential interest rate cuts by the Federal Reserve.
Donald Trump's golf clubs and resorts have generated over half a billion in income over the past 16 months, while he faces significant liabilities from lawsuits. His media company, Trump Media, has incurred losses, impacting his net worth.
Back-to-school shopping season offers deep discounts on Amazon for school supplies, backpacks, and dorm room essentials. Prime membership provides fast, free delivery and exclusive deals. Various highly-rated items are on sale, including frying pans, cork boards, sheets, gaming chairs, smart plugs, vacuum cleaners, air purifiers, standing desks, graph paper pads, SD cards, printers, pens, wireless headphones, backpacks, and pencil pouches.
Switzerland's new instant payment system has gone live, allowing for immediate account-to-account transactions, bolstering the future of cashless payments in the country.
Charles Schwab released findings from its 2024 Modern Wealth Survey, revealing Americans' perspectives on wealth. The average net worth considered wealthy is $2.5 million, with variations by generation and region. Younger Americans are more optimistic about becoming wealthy. Those with a financial plan feel more confident about their personal finances.
Ford Motor delays production of next-generation all-electric pickup truck and cancels plans for three-row electric SUV in favor of developing hybrid models and electric commercial vehicles. The company will focus on full-size and midsize electric pickup trucks, commercial vans, and SUVs to better deliver a profitable electric vehicle business.
Former CKE Restaurants CEO Andy Puzder explains why Vice President Kamala Harris is in a 'tough spot' regarding inflation. He refutes claims of price gouging by American businesses and attributes inflation to Biden-Harris economic policies.
Illinois Gov. J.B. Pritzker, in a speech to the Democratic National Convention, claimed to be an 'actual billionaire' unlike former President Donald Trump. Pritzker inherited his billions from his family's successful business ventures. Trump also benefited from his father's wealth but on a smaller scale, primarily in real estate development. Pritzker faced criticism for dodging property taxes.
The stock market is expected to face volatility during the 2024 presidential election year despite signs of economic recovery and potential interest-rate cuts by the Federal Reserve.
Shares of Trump Media & Technology Group, majority-owned by former U.S. President Donald Trump, have reached record lows following Trump's return to rival social media platform X. The stock has been impacted by Trump's dwindling lead in polls and election betting markets.
The United States received 12 shipments of crude oil and asphalt from Venezuela after the July 28 sham presidential election, which socialist dictator Nicolás Maduro claims he “won” and the United States does not recognize as legitimate. Companies like Chevron and Repsol were involved in these shipments.
Florida, a popular retirement destination, is becoming increasingly unaffordable due to rising property prices and cost of living. Small towns like Malone, Greenwood, and Coleman are seeing significant increases in home values and monthly expenses. Retirees are being priced out of these areas, leading many to consider moving to more affordable states like Georgia and Delaware, which was recently ranked the best state for retirement due to its reasonable cost of living, healthcare, and low crime rate.
A survey by the New York Federal Reserve shows an increase in Americans looking for job opportunities, reflecting a negative outlook on the economy despite low unemployment rates. Economic forecasters remain optimistic about avoiding a recession.
A report estimates that if women participated in the labor force at the same rate as men in Mexico, the country could boost its annual economic activity by over 25%, equivalent to $390.5 billion.
Commerce Secretary Gina Raimondo clarifies that Vice President Harris is not for price fixing, despite a Republican talking point. Harris aims to prevent price gouging and collusion by corporations. Critics argue that her proposal could lead to sweeping government-enforced price controls.