Business

(NEW YORK) — High inflation, interest rate hikes and recession worries pummeled stocks last year. The market has rebounded in 2023, though, even as each of those problems continues to vex the economy. Compounding those concerns, the banking sector underwent a crisis last month and a debt ceiling dispute in Congress risks financial distress. Still, the […]

Justin Sullivan/Getty Images, FILE (NEW YORK) — Roku plans to lay off another 200 workers, or 6% of its workforce, the video-streaming company said in a government filing on Thursday, just months after a prior round of layoffs in the fall that slashed 200 jobs. The company’s revenue surged during the pandemic when customers stuck […]

(NEW YORK) — Artificial intelligence-driven language models have garnered millions of users in recent months, instantly whipping up viral sensations like a biblical verse about how to remove a peanut butter sandwich from a VCR. However, the AI-enhanced chat bots pose significant dangers that far outweigh the benefits, according to a group of tech leaders, including […]

(WASHINGTON) — Starbucks’ former CEO Howard Schultz on Wednesday denied breaking the law in response to sharp criticism from Sen. Bernie Sanders, I-Vt., who accused the company of “the most aggressive and illegal union busting campaign in the modern history of our country.” In response to questions from Sanders during a Senate hearing, Schultz affirmed […]

(WASHINGTON) — When Starbucks’ most famous former CEO, Howard Schultz, appears Wednesday before a Senate committee to face questioning from Bernie Sanders over the company’s response to a unionization push — including what a labor judge found to be union-busting practices — he’ll look to paint Starbucks as a “different kind of public company” that […]

(NEW YORK) — Embattled crypto executive Sam Bankman-Fried now faces an additional criminal charge of conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act, according to a superseding indictment unsealed Tuesday in the Southern District of New York. The new charge brings to 13 the total number of counts Bankman-Fried faces, all […]

(WASHINGTON) — The country’s top banking regulators faced a grilling from lawmakers Tuesday about who was responsible for the the failures of Silicon Valley Bank and Signature Bank. The Senate Banking Committee heard testimony from officials at the Federal Reserve, Federal Deposit Insurance Corporation and the Treasury Department in its first hearing about the overnight […]

(NEW YORK) — Social media app TikTok faces mounting bipartisan hostility in Washington D.C., where Biden administration officials and lawmakers are weighing a possible ban of the platform. The app, which counts more than 150 million U.S. users each month but is owned by a China-based parent company, has faced growing scrutiny from government officials […]

RapidEye/Getty Images (LOS ANGELES) — Taylor Swift fans will get their day in court on Monday, months after the botched release of tour tickets prompted widespread outcry. A federal court in Los Angeles will hear arguments in a case brought by fans who allege that Live Nation — and subsidiary company Ticketmaster — violated antitrust […]

(NEW YORK) — It’s a trend that’s surprised even Rolls-Royce executives: Tesla owners frantically placing preorders for Spectre, the first all-electric Rolls-Royce that costs more than $400,000. The 118-year-old British automaker begins production of Spectre, a chic, uber-luxe coupe that seats four, this fall. Pre-orders are already in the thousands — with some customers forced […]