-
Business and Economy
Senate Unveils Controversial Border Security Deal Amid Record Migrant Crossings
Washington D.C., February 6, 2024 – After months of tense negotiations, the U.S. Senate has released a bipartisan border security bill that would enact the most sweeping changes to immigration enforcement in decades while also providing aid to key allies abroad. Bipartisan bill would provide $20B for border enforcement and give president power to shut down border during crises The…
Read More » -
Business and Economy
Snapchat Cuts 10% of Staff in Major Restructuring
Around 500 Employees Laid Off as Social Media Giant Seeks Efficiency Gains San Francisco, CA – Snap Inc., the company behind popular social media app Snapchat, announced major layoffs on Monday amounting to around 10% of its global workforce. Approximately 500 employees will be affected by the job cuts as Snapchat looks to restructure and promote in-person collaboration. The latest…
Read More » -
Business and Economy
Elon Musk’s $55 Billion Pay Package Rejected by Judge
Fremont, CA – In a stunning blow to Tesla, a Delaware judge has torpedoed CEO Elon Musk’s controversial $55.8 billion compensation package, ruling it invalid and “unfair” in a historic first-of-its-kind decision. This seismic ruling vaporizes the lucrative payday Musk hoped to reap from the ambitious package and thrusts the electric vehicle maker into chaos as it scrambles to determine…
Read More » -
Market Trends and Innovations
Will Federal Employees Get a 7.4% Pay Raise in 2025?
The question of what the 2025 federal pay raise will be has entered the spotlight early this year. A bill introduced in Congress proposes raising federal salaries by 7.4% in 2025. This Federal Adjustment of Income Rates (FAIR) Act aims to close the growing gap between federal and private sector pay. But will this ambitious plan come to fruition? The…
Read More » -
Market Trends and Innovations
Obama’s Former Pentagon Chief Ripped Biden’s Foreign Policy Judgement in Memoir
In the wake of a deadly attack on a U.S. military outpost in Jordan that took the lives of three American soldiers, former Obama Defense Secretary Robert Gates’ past criticism of President Biden’s flawed foreign policy decisions has come under renewed scrutiny. Former Obama Defense Secretary’s Scathing Biden Foreign Policy Criticism Resurfaces After Tragic Military Attack Gates, who served as…
Read More » -
Market Trends and Innovations
China’s Debt Crisis Deepens As Evergrande Ordered Into Liquidation. The real estate giant owes over $300 billion
Hong Kong’s High Court has ordered the liquidation of China Evergrande Group, once the country’s top-selling property developer, after its failure to restructure over $300 billion in debts, plunging China further into economic uncertainty. Judge Linda Chan stated on Monday that Evergrande’s inability to put forward a viable proposal to repay creditors alongside its insolvency left her no choice but…
Read More » -
Market Trends and Innovations
Fed Nears Inflection Point as Inflation Shows Further Cooling
The Federal Reserve moved one step closer to potentially easing its aggressive interest rate hiking campaign, as new data on Friday showed inflation continuing to drift back towards the central bank’s 2% target. The Commerce Department’s personal consumption expenditures (PCE) price index, the Fed’s preferred inflation gauge, rose just 0.2% in December from the prior month and 2.6% from a…
Read More » -
Business and Economy
Stocks Hit Record Highs as Netflix Earnings Boost Tech Optimism
The stock market rallied to new heights on Wednesday, led by strong gains in tech stocks. The S&P 500 closed at a record high, while the Nasdaq also posted solid gains. Driving the optimism was an upbeat earnings report from Netflix, which saw subscriber growth dramatically exceed expectations. Netflix added over 13 million paid members globally in Q4, crushing estimates…
Read More » -
Market Trends and Innovations
Macy’s Rejects $5.8 Billion Buyout Bid From Investors Despite Struggles
Macy’s announced on Sunday that its board rejected a $5.8 billion take-private buyout bid from an investor group led by Arkhouse Management and Brigade Capital Management. The retailer cited a “lack of compelling value” and also raised financing concerns over the $21 per share offer. The bid by Arkhouse and Brigade represented a 32% premium over Macy’s stock price in…
Read More » -
Market Trends and Innovations
Dow Closes Above 38,000 for First Time Ever as Stocks Hit Record Highs
New York – The Dow Jones Industrial Average crossed the 38,000 mark for the first time ever on Monday, as the stock market’s rally to start 2024 continued with major indexes hitting fresh record highs. The Dow closed up 138 points, or 0.4%, finishing at an unprecedented 38,001.81. The blue-chip index’s milestone close comes amid a banner year so far…
Read More »
