Sam Bankman-Fried, CEO of FTX US Derivatives, testifies during the House Agriculture Committee hearing titled Changing Market Roles: The FTX Proposal and Trends in New Clearinghouse Models, in Longworth Building on Thursday, May 12, 2022. Tom Williams | CQ-Roll Call, Inc. | Getty Images With no central bank willing to come to the rescue, beleaguered
Michael Rubin attends Fanatics Super Bowl Party on February 12, 2022 in Culver City, California. Shareif Ziyadat | Filmmagic | Getty Images Billionaire Fanatics CEO Michael Rubin announced Wednesday that he is selling his 10% stake in the parent company that owns the Philadelphia 76ers and New Jersey Devils, citing a conflict of interest with
Monitors display Coinbase signage during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S., on Wednesday, April 14, 2021. Michael Nagle | Bloomberg | Getty Images Coinbase shares fell on Wednesday after rival crypto exchange Binance.US said it’s dropping certain trading fees for customers. Binance.US, the U.S. affiliate of the
The gender wage gap has remained remarkably stubborn for decades and, inevitably, becomes a significant shortfall at retirement. In 2020, women made 83 cents for every dollar earned by men, according to the U.S. Census Bureau. The gap persists despite women’s increasing levels of education and even widens among higher-income workers. By the end of her career, a full-time
Rohit Chopra, director of the Consumer Financial Protection Bureau, testifies during a Senate Banking, Housing and Urban Affairs Committee hearing on April 26, 2022. Tom Williams | Cq-roll Call, Inc. | Getty Images The Consumer Financial Protection Bureau signaled a crackdown on late fees charged by credit card companies on Wednesday, as inflation threatens to
Note: The following is Tax Foundation testimony regarding how Pennsylvania can mitigate challenges of inflation through structural tax reforms. It was presented, by request, to the Pennsylvania House Majority Policy Committee on June 21, 2022. Good morning, Chairman Causer and Members of the Committee, My name is Timothy Vermeer, and I am a Senior Policy
Supply chain disruptions are still rippling across the globe, and the head of the world’s largest truckmaker has warned that shortages of parts are slowing the production of thousands of its vehicles. Daimler Truck CEO Martin Daum told CNBC Wednesday that the current supply chain squeeze is among the worst he’s seen in his more
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In this article BTC.CM= If crypto’s past bubbles are anything to go by, bitcoin could be about to fall much further. That’s according to one strategist, who warns the world’s top cryptocurrency is likely to tank as low as $13,000 — an almost 40% drop from current levels. “We would still be selling these kinds
Apple CEO Tim Cook says there’s at least one question your iPhone can’t answer: How do you build a life that provides both meaning and fulfillment? Luckily, Cook himself has some advice on that front. At Gallaudet University’s commencement ceremony in Washington D.C. last month, Cook advised the new graduates to make decisions based more
Beyoncé released a new single, “Break My Soul,” on Monday. The song references quitting a job and employee stress, alluding to the recent Great Resignation trend. Larry Busacca | PW18 | Getty Images The Great Resignation is part of the zeitgeist. If you need proof, just ask Beyoncé. The superstar singer’s new single, “Break My
A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. According to the National Association of Realtors, sales of existing homes dropped 3.4% to a seasonally adjusted annualized rate of 5.41 million units. Sales were 8.6% lower than in May 2021. As existing-home sales declined, the median price
LOS ANGELES, CALIFORNIA – JUNE 12: CEO of Netflix Ted Sarandos attends Netflix’s FYSEE event for “Squid Game” at Raleigh Studios Hollywood on June 12, 2022 in Los Angeles, California. (Photo by Charley Gallay/Getty Images for Netflix) Charley Gallay | Getty Images Entertainment | Getty Images CANNES, France – As the world’s biggest advertising conference
U.S. stock index futures were flat overnight Tuesday after the major averages jumped in regular trading hours, attempting to claw back some losses following weeks of selling. Futures contracts tied to the Dow Jones Industrial Average, S&P 500 and Nasdaq 100 were little changed. During regular trading Tuesday, the Dow surged 641 points, or 2.15%.
Former Theranos COO Ramesh “Sunny” Balwaniarrives at the Robert F. Peckham U.S. Federal Court with his legal team on March 16, 2022 in San Jose, California. Justin Sullivan | Getty Images SAN JOSE, Calif. — In a harshly worded closing argument, prosecutors on Tuesday said former Theranos COO Ramesh “Sunny” Balwani “wasn’t a victim, he
Fuel prices at a Chevron gas station in San Francisco June 9, 2022. Bloomberg | Bloomberg | Getty Images For months, drivers across the U.S. face have faced eye-popping prices when they fill up their gas tanks. Now, President Joe Biden is weighing a new remedy — a federal gas tax holiday. A gallon of
In this article K Kellogg announced Tuesday that it plans to separate into three independent public companies. Shares of the company rose 8% in premarket trading on the news. The company will spin off its North American cereal business and plant-based division, which accounted for about 20% of its revenue last year. The remaining business
In this article XOM K GOOGL Gas pumps sit empty at an Exxon gas station in Charlotte, North Carolina on May 12, 2021. LOGAN CYRUS | AFP | Getty Images Check out the companies making headlines in midday trading Tuesday. Exxon Mobil — Shares of Exxon Mobil jumped 5.5% after Credit Suisse upgraded them to
Westend61 | Westend61 | Getty Images If you get a tax bill and want help from the IRS to set up a payment plan, newly expanded voice bots may make for faster phone service, according to the agency. But some tax professionals are doubtful about the new plan to reduce wait times. Artificial intelligence-driven IRS
In this article AMZN Amazon Prime Day is one of the most anticipated shopping events of the year. But in 2022, shoppers may be less interested in backyard entertaining or Black Friday-type deals and more eager to score discounts on consumer staples to counteract runaway inflation. “People who want to participate in Prime Day are