Latest Business News & Archive

The Fed recently cut back its benchmark lending rate to between 4.50 and 4.75 percent

Policymakers Defend Fed Independence Amid Concerns About Trump Era

Two senior Federal Reserve officials praised the US central bank's independence on Thursday, amid concerns that President-elect Donald Trump may seek to influence Fed policy.

Nicaragua's Ortega Banishes Leading Catholic Bishop

(ARCHIVO) La gente celebra detrás de una barricada tras la llegada de obispos de la Conferencia Episcopal y miembros de la Alianza Cívica en Masaya, Nicaragua, el 21 de junio de 2018

President Daniel Ortega's government has expelled the head of Nicaragua's bishops' conference to Guatemala, the latter's government and church sources said Thursday.

Brother Of Late Harrods Owner Also Accused Of Sexual Violence: BBC

Hundreds of women have accused Mohamed Al-Fayed of sexual violence

Three women formerly employed by Harrods have accused the brother of its late boss Mohamed Al-Fayed of sexual violence, following hundreds of similar claims against the former owner of the luxury London store, the BBC reported Thursday.

BIWC Group: Unveiling the Shadows of corporate deception

In the cutthroat world of business, trust can often be elusive, and it can take a team of skilled professionals to expose deception and protect the innocent. This is where BIWC Group enters the stage; a business intelligence agency led by ex-Israeli special forces with a global network of contacts and an almost endless outreach.

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The fine is the latest in a string of hefty penalties the European Commission, the regulator for the 27-nation European Union, has imposed against Big Tech companies over their practices in recent years -- and ranks among the 10 largest antitrust fines

EU Fines Meta $840 Million For 'Abusive' Facebook Ad Practices

The EU fined online giant Meta almost 800 million euros on Thursday for breaching antitrust rules by giving users of its Facebook social network automatic access to classified ads service Facebook Marketplace.

Coach parent Tapestry said it was calling off a merger agreement with Capri, amid regulatory obstacles

Coach Owner Tapestry Calls Off Capri Bid On Regulatory Blocks

Fashion group Tapestry said Thursday that it was dropping its $8.5 billion bid for Capri, the owner of luxury brands including Michael Kors and Versace, following a successful legal challenge by US regulators.

The European Commission said the changes will allow hotels and other relevant travel service providers to develop more innovative deals and tailored offers

Hotels On Booking.com Can Offer Better Rates Elsewhere: EU

Hotels listed by online travel giant Booking.com in Europe are now free to offer better rates elsewhere, the European Commission said Thursday as new rules on the platform came into force.

Outdoor Retailers REI Brings In Sephora Veteran As Chief Marketing Officer

REI Co-op, a brand that specializes in high quality outdoor gear and clothing, has appointed a new chief marketing officer.

Tesla is recalling the Cybertruck over a defect on the accelerator panel

Tesla Issues Sixth Cybertruck Recall Since Its Launch Last Year

The latest recall involves faulty 'defective drive inverters'.

The US Treasury Department said the budget deficit rose in fiscal year 2024, hitting the third-largest on record.

US October Budget Deficit Swells 287% To $257 Billion

The budget deficit of the U.S. government in October 2023 was $67 billion.

AMD CEO Lisa Su unveiled the chip giant's latest line of products during a keynote speech at Computex 2024 in Taipei

AMD To Reduce Global Workforce By 4% Amid AI Focus

″As a part of aligning our resources with our largest growth opportunities, we are taking a number of targeted steps that will unfortunately result in reducing our global workforce by approximately 4%," an AMD representative said in a statement.

British fashion label Burberry exited London's top-tier FTSE 100 stocks index after 15 years, with analysts citing strategic mistakes and weak demand from China

Burberry Launches Turnaround Plan As Posts Loss

Troubled British fashion house Burberry on Thursday announced cost-cutting plans after posting a loss, with the global luxury sector pressured by weak Chinese demand.

Donald Trump's second term is widely expected to amplify misinformation on social media platforms that have become increasingly important for news

Top Execs At Trump Media Sell Over $16 Million In Company Stock After Election

CFO Phillip Juhan sold the majority of the company's stocks, while director Eric Swider and general counsel Scott Glabe each sold smaller amounts of the shares. Trump stated that he has no intention of selling his shares in Trump Media and called for an investigation into anyone making claims to the contrary.

CFPB's Future Uncertain: Bankers Anticipate Changes Under Trump Administration

Although the open banking regulation of the Consumer Financial Protection Bureau (CFPB) is intended to safeguard consumer rights, bankers anticipate changes under the Trump administration, which might curtail the agency's authority.

The Southern Africa Citrus Growers' Association worries it could lose $55.5 million in export revenue

As Trump Returns, African Exporters Torn Between Hope And Horror

Citrus growers in South Africa are among the businesses most nervous that duty-and-quota-free exports to the United States could be scrapped next year when Donald Trump takes office again.

The multiple choice exam will be taken by 522,670 pupils this year

Live-streamed Prayers For Stressed S. Korean Exam Parents

Nine-hour prayer sessions, live-streamed speaking in tongues, bowing before a Buddhist altar 108 times: South Korean parents are turning to God as students sit a crucial exam Thursday.

Iran’s Atomic Energy Organisation spokesman Behrouz Kamalvandi (R) met with International Atomic Energy Agency chief Rafael Grossi in Tehran

UN Nuclear Chief In Iran To 'Reach Diplomatic Solutions'

International Atomic Energy Agency chief Rafael Grossi was to hold talks with top Iranian officials Thursday on Tehran's nuclear programme, a week after Donald Trump's re-election as US president.

Bitcoin is now sitting above $90,000 and observers tip it to break $100,000 soon

Asian Markets Mixed As Traders Weigh Fed; Bitcoin Above $90,000

Asian markets diverged Thursday as investors digested US inflation data that supported the case for another interest rate cut next month but worries over the next Trump administration continued to cloud optimism.

The mysterious necklace contained around 300 carats of diamonds

Mysterious Diamond-laden Necklace Fetches $4.8 Mn In Geneva Auction

A mysterious diamond-laden necklace with possible links to a scandal that contributed to the downfall of Marie Antoinette, sold for $4.8 million at an auction in Geneva Wednesday.

Carlos Alcaraz struggled with illness before the match but beat Andrey Rublev at the ATP Finals

Alcaraz Beats Rublev To Open ATP Finals Account, Ruud Misses Last Four Chance

Carlos Alcaraz opened his account at the ATP Finals on Wednesday with an entertaining 6-3, 7-6 (10/8) win over Andrey Rublev, while Casper Ruud missed an early chance to reach the semi-finals after losing in straight sets to Alexander Zverev.

Lunchables Pulled from Public School Lunches Due to Plummeting Demand After Damning Report on Harmful Ingredients

Months after Consumer Trends revealed Lunchables contained high levels of sodium and lead, Kraft Heinz has pulled them from the National School Lunch Program, citing low demand.

US Senator Marco Rubio, tapped to be the next secretary of state, speaks next to former US president Donald Trump during a campaign rally in Allentown, Pennsylvania, on October 29, 2024

From 'Little Marco' To 'Mr Secretary': Rubio Shows Trump China Push

Marco Rubio's first experiences with Donald Trump involved trading schoolyard insults, but he will now become the president-elect's face to the world -- potentially showing a more traditional, hawkish US foreign policy, especially on China.