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Egg prices reach historic highs amid avian flu outbreak, inflation woes
d3sign/Getty Images (NEW YORK) — Fans of three-egg omelets and bacon-egg-and-cheese sandwiches have more to worry about than just high cholesterol. The wholesale price of a dozen eggs has more than quadrupled year over year, [Read More…]
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City National Bank to pay $31M in redlining settlement with DOJ
Marilyn Nieves/Getty Images (WASHINGTON) — The U.S. Department of Justice announced a $31 million settlement with City National Bank over allegations that the Los Angeles-based bank engaged in “redlining” – a pattern of lending discrimination [Read More…]
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5 takeaways from Sam Bankman-Fried’s surprising Substack blog post
Lev Radin/Pacific Press/LightRocket via Getty Images (NEW YORK) — Stuck in house arrest and awaiting trial, disgraced crypto executive Sam Bankman-Fried spoke out on Thursday with the most extensive remarks since his arrest a month [Read More…]
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Inflation cooled in December, bolstering hopes US can avert recession
Javier Ghersi/Getty Images (NEW YORK) — Consumer prices rose 6.5% last month compared to a year ago, extending a months-long slowdown of price hikes and bolstering hopes that the U.S. can avert a recession. Year-over-year [Read More…]
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Inflation data to show whether prices continued cooling in December
Javier Ghersi/Getty Images (NEW YORK) — Inflation data set for release Thursday will show whether months of cooling price increases continued in December. Evidence of further slowing would ease the strain on household budgets and [Read More…]
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Brace yourself for a smaller refund as COVID-era tax breaks expire
courtneyk/Getty Images (NEW YORK) — If you were banking on a hefty tax refund this year, think again. The expiration of COVID-era tax breaks means millions of Americans may get smaller refunds when they file [Read More…]
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FTX naming-rights agreement for Miami Heat arena terminated in bankruptcy court
Matias J. Ocner/Miami Herald/Tribune News Service via Getty Images (MIAMI) — The arena where the Miami Heat play can now get a new name following the collapse of cryptocurrency exchange FTX. A federal bankruptcy judge [Read More…]
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Car insurance rates to rise 8.4% in 2023: Report
Image by Marie LaFauci/Getty Images (NEW YORK) — As cooling inflation offers consumers much-needed relief, many car owners are in for a rude awakening when insurance renewal arrives this year, a new report found. Car [Read More…]
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Here’s what House Speaker McCarthy’s chaotic election means for the economy and debt ceiling
Javier Ghersi/Getty Images (NEW YORK) — House Speaker Kevin McCarthy, R-Calif., emerged with gavel in hand on Saturday after fierce Republican negotiations, but the concessions he made in the process have heightened concern over a [Read More…]
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Doritos challenges fans to TikTok dance for chance to star in Super Bowl commercial
Luke Sharrett/Bloomberg via Getty Images (NEW YORK) — The formula for success with Super Bowl commercials in the past has ranged from outrageous and funny to nostalgic, but this year one brand is betting big [Read More…]
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Krispy Kreme debuts three Biscoff cookie butter doughnuts
Krispy Kreme Doughnuts (NEW YORK) — Frequent flyers will quickly recognize Biscoff as the addictive in-air treat from Delta airlines, but the brand has three new delicious doughnuts landing on the menu at Krispy Kreme [Read More…]
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How proposed government ban on controversial noncompete clauses could impact the economy
James Leynse/Getty Images (NEW YORK) — Millions of Americans have had to struggle to find a new jobs due to a measure in their contracts that prevents them from working for a direct competitor following [Read More…]
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Here’s the difference between a ‘minimum wage’ and ‘living wage,’ and why it matters
tattywelshie/Getty Images (NEW YORK) — Near-historic price increases for basics like food and gas have drawn scrutiny to a question at the heart of the economy: How much money must a worker make to stay [Read More…]
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Biden’s student loan plan could reduce how much people pay and for how long
jayk7/Getty Images (NEW YORK) — Student loan borrowers could soon pay less money back on their loans and be on the hook for a shorter amount of time, should a new Biden administration rule take [Read More…]
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Parents warned again not to use Fisher-Price Rock ‘n Play sleepers
CPSC (NEW YORK) — The U.S. Consumer Product Safety Commission is once again warning parents and caregivers not to use any models of Fisher-Price’s Rock ‘n Play sleepers, a type of chair used to soothe [Read More…]
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More than 7,000 nurses go on strike across 2 New York City hospitals
Jeenah Moon/Bloomberg via Getty Images (NEW YORK) — More than 7,000 nurses at two hospitals in New York City went on strike early Monday morning demanding better pay, better working conditions and more staffing. The [Read More…]
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More than 7,000 nurses go on strike across two New York City hospitals
Jeenah Moon/Bloomberg via Getty Images (NEW YORK) — More than 7,000 nurses at two hospitals in New York City went on strike early Monday morning demanding better pay, better working conditions and more staffing. The [Read More…]
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Controversy illuminates rise of facial recognition in private sector
Weiquan Lin/Getty Images (NEW YORK) — For nearly a century, people have flocked every holiday season to Radio City Music Hall to watch the famous Rockettes perform in the Radio City Christmas Spectacular show. The [Read More…]
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Southwest Airlines holiday meltdown will cost company up to $825 million
E4C/Getty Images (NEW YORK) — The holiday meltdown at Southwest Airlines last month cost the company as much as $825 million in lost revenue and added expenses, the company said in a government filing on [Read More…]
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Peloton agrees to pay $19 million fine over treadmill recall: CPSC
Adam Glanzman/Bloomberg via Getty Images (NEW YORK) — Peloton has agreed to pay a $19 million fine as part of a settlement over its treadmill recall, the U.S. Consumer Product Safety Commission announced Thursday. The [Read More…]