Business

(NEW YORK) — Cryptocurrencies affiliated with President Donald Trump and first lady Melania Trump plummeted in the initial hours after Trump was sworn into office Monday. “Official Trump,” a recently launched crypto token, plunged more than 20% in value over a 24-hour stretch ending Tuesday morning, according to crypto tracking site CoinGecko. After the drop, […]

TikTok said Sunday it’s “restoring service” after a ban in the United States initially began to take effect earlier in the day. “In agreement with our service providers, TikTok is in the process of restoring service. We thank President Trump for providing the necessary clarity and assurance to our service providers that they will face […]

(WASHINGTON) — Consumer prices rose 2.9% in December compared to a year ago, ticking up from the previous month and extending a resurgent bout of inflation just days before President-elect Donald Trump takes office. The reading matched economists’ expectations. The fresh data arrives after a jobs report last week showed stronger-than-expected hiring in December, which […]

(LOS ANGELES) — Multiple fires raging across the Los Angeles area will cost insurers as much as $30 billion, Wells Fargo and Goldman Sachs estimated in a report released this week. After accounting for non-insured damages, the total costs will balloon to $40 billion, the report said. The ongoing fires, according to analysts, “appear to already be the costliest […]

(NEW YORK) — TikTok mounted a last-ditch effort at the Supreme Court on Friday meant to stop a ban of the app set to take effect within days — but the platform’s arguments may have landed with a thud. A majority of the justices appeared inclined to uphold a federal law that would ban the […]

(NEW YORK) — Facebook plans to replace its fact-checkers with “community notes,” a move that Meta CEO Mark Zuckerberg said would allow the social network to return “to our roots around free expression.” “We’re replacing fact checkers with Community Notes, simplifying our policies and focusing on reducing mistakes,” Zuckerberg said on Tuesday. “Looking forward to […]

(NEW YORK) — Online holiday shopping soared to a fresh record high in 2024, driven by an array of e-commerce discounts and adoption of AI-fueled shopping assistants, according to data released on Tuesday by Adobe. E-commerce sales topped $240 billion in November and December, climbing nearly 9% when compared with the gift-buying season a year prior, data showed. The […]

David Paul Morris/Bloomberg via Getty Images (NEW YORK) — Facebook plans to replace its fact checkers with “Community Notes,” a move that Meta CEO Mark Zuckerberg said would allow the social network to return “to our roots around free expression.” “We’re replacing fact checkers with Community Notes, simplifying our policies and focusing on reducing mistakes,” […]

Prapass Pulsub via Getty Images (WASHINGTON) — In a major change that could affect millions of Americans’ credit scores, the Consumer Financial Protection Bureau on Tuesday finalized a rule to remove medical debt from consumer credit reports. The rule would erase an estimated $49 billion in unpaid medical bills from the credit reports of roughly […]

CHRIS KLEPONIS/AFP via Getty Images (WASHINGTON) — President Joe Biden on Friday announced a decision to block the $14 billion acquisition of U.S. Steel by Japan-based Nippon Steel, saying domestically produced steel is essential to U.S. national security. “Without domestic steel production and domestic steel workers, our nation is less strong and less secure,” Biden […]