Two air traffic controllers could be fired for abandoning the tower at New York’s LaGuardia Airport about an hour earlier the night an Air Canada plane crashed into a fire truck crossing the runway, killing both pilots, according to a government official familiar with the investigation. The official was not authorized to publicly discuss the … Read more
Jharonne Martis, Head of Consumer Research at LSEG, examines the consumer mind and Walmart’s overreaction to ‘Making Money.’ Walmart agreed to pay a $50 million settlement over allegations that its pharmacies were illegally filling thousands of prescriptions for opioids and other controlled substances, according to the Department of Justice (DOJ) and the Drug Enforcement Administration … Read more
Labor market was weaker at start of Trump’s term, data show The Washington Post Smaller revision points to more accurate employment numbers The New York Times US created 79,000 fewer jobs than previously reported, new revisions suggest WSJUS job growth slowed in preliminary baseline estimate Bloomberg.comNot The Payrolls You’re Looking For Mortgage News Daily
The legal odyssey regarding prediction markets versus games of chance continues. On Friday, Kalshi stumbled upon an island full of black-robed giants. Via the Associated Press, the U.S. Court of Appeals for the Ninth Circuit ruled Friday that federal commodity trading law does not preempt Nevada gaming law when it comes to regulating sports betting. … Read more
NEW YORK (AP) — The bond market swung Friday as investors made bets that the Federal Reserve could soon raise interest rates to rein in the country’s high inflation. Meanwhile, U.S. stocks fell, but not by much, after economists said a speech by Chairman Kevin Warsh helped strengthen faith that the Federal Reserve will do … Read more
JACKSON HOLE, Wyo. (AP) — Federal Reserve Chairman Kevin Warsh said Friday that inflation remains too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than it had previously sent about its economic outlook. In his first high-profile speech at the … Read more
Federal Reserve Chairman Kevin Warsh expressed concern Friday about high inflation and hinted that interest rates may need to rise if more progress is not made to ease price pressures. Warsh’s comments, closely watched at the Federal Reserve’s annual symposium in Jackson Hole, Wyoming, avoided committing to forward guidance (or verbal signals about the Fed’s … Read more
Nvidia CEO Jensen Huang is open to ideas on how to share the enormous wealth generated by the rise of AI. He has created billionaires on his executive team, personally ensures his staff receive competitive salaries and is “perfectly on board” with proposals to tax the ultra-rich more. But he disagrees with a proposal by … Read more
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PayPal shares fell sharply following a report that an Advent-Stripe consortium abandoned its efforts to buy the digital payments giant. Private payments company Stripe and private equity firm Advent had abandoned their pursuit of PayPal (PYPL), Bloomberg reported late Thursday, citing sources. The group reportedly offered $60.50 per share, or $53 billion, for PayPal in… … Read more