Business

(NEW YORK) — Israel’s government is mobilizing 360,000 reservists as the nation responds to the sudden attack by Palestinian militants. Global companies with a presence in Israel are moving quickly to safeguard their employees and come up with contingency plans if needed. Bank of America, for example, has decided to temporarily close its offices in […]

(NEW YORK) — Birkenstock took a big step forward on Wall Street this week, taking the nearly 250-year-old German shoe and sandal maker public. The footwear, often seen as a counter culture shoe for hippies, and in more recent years influencers, has become must-have footwear for many people, but Birkenstock’s Initial Public Offering, or IPO, […]

(NEW YORK) — There is growing fraud online in which scammers manufacture other identities to dupe financial institutions or their customers out of money — and the crimes are only expected to grow more frequent with the increasing prevalence of artificial intelligence, experts say. A new survey of 500 fraud and risk professionals, first reviewed […]

(NEW YORK) — Consumer prices rose 3.7% in September compared to a year ago, holding steady from the previous month and running hotter than economists had expected. While inflation has fallen significantly from a peak of about 9% last summer, price increases remain more than a percentage point higher than the Fed’s inflation target. The […]

(NEW YORK) — Inflation data to be released on Thursday will show whether price increases cooled or accelerated in September, offering the latest snapshot of expenses faced by U.S. households as the Federal Reserve readies to decide another rate hike next month. Economists expect consumer prices to have increased 3.6% over the year ending in […]

(NEW YORK) — Mortgage rates stand at their highest level in more than two decades. The average rate for credit card holders tops anything on record at the Federal Reserve. Car loans have returned to 2008 levels, car research group Edmunds found. Pain-inducing interest rates for just about any loan, experts said, trace to an […]

(NEW YORK) — FTX founder Sam Bankman-Fried believed in utilitarianism and thought rules against lying or stealing inhibited his ability to maximize the greatest benefit for the most people, his former girlfriend and co-worker testified Wednesday at his federal fraud trial. “He didn’t think rules like ‘don’t lie’ or ‘don’t steal’ fit into that framework,” […]

Catherine McQueen/Getty Images (WASHINGTON) — The Federal Trade Commission is proposing a new rule that seeks to eliminate junk fees — those hidden costs that can unexpectedly push up prices consumers pay at checkout. The proposed rule would apply to many industries across the economy, including event tickets, hotels and apartment rentals. If the rule […]

(NEW YORK) — Oil prices have climbed over fears the Israel-Hamas war could embroil the wider petroleum-producing Gulf region and threaten global output. The global Brent oil benchmark rose nearly 5% in trading on Monday, reversing some of a major decline in recent weeks that had cheered many market onlookers and car drivers. The price of […]

(LOS ANGELES) — Hollywood writers in the Writers Guild of America have ratified the 2023 tentative agreement with the Alliance of Motion Picture and Television Producers. “Through solidarity and determination, we have ratified a contract with meaningful gains and protections for writers in every sector of our combined membership,” Writers Guild of America West President […]