Business
Page: 53
Patrick T. Fallon/AFP via Getty Images, FILE (NEW YORK) — First Citizens Bank will buy about $72 billion in assets from the failed Silicon Valley Bank, the Federal Deposit Insurance Corporation said. Silicon Valley Bank, a regional lender with about $210 billion in assets, collapsed earlier this month. The bank had been the 16th largest […]
(NEW YORK) — The banking crisis that erupted earlier this month elicited some predictions of a halt in interest rate hikes, since previous borrowing cost increases garnered blame for the financial distress. Instead, the Federal Reserve on Wednesday imposed another hike, extending a yearlong blitz of rate increases that risks further banking woes and squeezes a […]
(NEW YORK) — Gordon Moore, the co-founder and former chairman of tech giant Intel, died Friday at the age of 94, the company and the Gordon and Betty Moore Foundation announced. A press release stated Moore died “surrounded by family” in Hawaii. Moore and Robert Noyce founded Intel in 1968. Moore initially served as executive vice […]
(NEW YORK) — United Nations Secretary-General Antonio Guterres said that the world is “on thin ice” and called for “climate action on all fronts” earlier this week while revealing the latest U.N. climate report. The report said that greenhouse gas emissions continue to grow as chances of slowing climate change shrink — unless those emissions […]
(NEW YORK) — From the iconic Egg McMuffin at McDonald’s to French Toast Sticks at Wendy’s, the competition among fast food chains to serve Americans breakfast has registered another entry. Dunkin’ launched its latest menu offering, Breakfast Tacos, on Wednesday to capitalize on consumers’ love of on-the-go options to start the day. The tacos are […]
(NEW YORK) — One woman who said her family was in debt and one step away from financial disaster made a change in her spending at the grocery store that’s paying off big. Becky Guiles, known as the “Freebie Lady” on social media, shared her money-saving method with ABC News’ Good Morning America, which she […]
(WASHINGTON) — A high-stakes standoff between the U.S. government and social media app TikTok over a potential ban is set for a reckoning on Thursday when TikTok CEO Shou Zi Chew testifies before a committee of House lawmakers. The China-based app, which counts more than 150 million U.S. users each month, has faced growing scrutiny […]
(WASHINGTON) — A high-stakes standoff between the U.S. government and social media app TikTok over a potential ban is set for a reckoning on Thursday when TikTok CEO Shou Zi Chew testifies before a committee of House lawmakers. The China-based app, which counts more than 150 million U.S. users each month, has faced growing scrutiny […]
Nikolas Kokovlis/NurPhoto via Getty Images (NEW YORK) — Foot Locker plans to close 400 stores in North America by 2026 as it rebrands part of its business, the company announced Monday. The company plans to close many underperforming stores in shopping malls while focusing on strengthening its standalone stores with new concepts, Foot Locker said during […]
(WASHINGTON) — The Federal Reserve on Wednesday raised its short-term borrowing rate another 0.25%, intensifying the central bank’s fight against inflation despite concern that previous rate increases helped trigger the nation’s banking crisis. The Fed’s benchmark interest rate has contributed to the financial emergency facing U.S. banks. Inflation has fallen significantly from a summer peak, though […]