Bond yields have been a crucial factor in the Federal Reserve’s strategy to manage inflation, but their recent surge has created both challenges and opportunities for the central bank and investors. The rapid increase in long-term US Treasury yields over the past few months has created headaches for investors, dragging down the value of many…
In a significant turn of events, a ransomware strike targeted the US unit of China’s Industrial and Commercial Bank, causing a brief market dip, emphasizing the vulnerability of even the most robust companies. This immediately drew the attention of regulators and officials in the US and China, triggering extensive coordination across the financial sector to…
The Internal Revenue Service (IRS) recently unveiled the inflation-adjusted income tax brackets and standard deduction figures for the tax year 2024. While these adjustments typically occur annually, influencing the tax returns that most Americans file in early 2025, they often receive less attention than the impact they have on tax liabilities. These changes offer more…
Internal communications unveiled in an ongoing lawsuit against Meta reveal that CEO Mark Zuckerberg repeatedly overruled efforts to enhance the well-being of teenagers using Facebook and Instagram. These disclosures highlight the significant influence Zuckerberg wields over company decisions and his resistance to addressing concerns about the impact of these platforms on teenagers’ mental health. The…
Wall Street experienced gains on Tuesday, with stocks climbing due to the continued decline in Treasury yields. The S&P 500 index recorded its seventh consecutive day of gains, marking its longest winning streak since November 2021 when it rose for eight consecutive sessions. The Nasdaq Composite also achieved its lengthiest string of gains since that…
In a controversial move, Starbucks has announced new pay and benefits for its employees, but the perks are only for non-unionized workers. This decision has reignited the ongoing battle between Starbucks and union organizers across the country. The National Labor Relations Board (NLRB) has previously ruled that such moves by Starbucks violate federal labor laws,…
In the realm of economics, a classic chicken-or-the-egg conundrum emerges: With interest rates at their highest in 22 years, which will wane first, the job market or consumer spending? The dynamics are intricate. When spending decreases, companies face reduced revenues, and they may resort to layoffs as profits dwindle. In contrast, staff reductions curb consumers’…
Alphabet’s Google has recently decided to discontinue a $15 billion development project in California’s Silicon Valley, throwing a wrench into the tech giant’s ambitious plans to address the affordability crisis in the region. Google and its Australian partner, Lendlease, jointly made the decision to terminate the San Francisco Bay Project, which involved developing four master-planned…
Multiple US banks faced deposit delays on Friday, stemming from an error within a payment processing network, as confirmed by the Federal Reserve. It’s important to note that this issue was attributed to human error and not a malicious attack. Banks have reassured customers that their deposits are safe, and while this rare delay affected many…
China’s treatment of maps in relation to its own territorial claims has been a well-known issue for years. The country has consistently pressed international companies to adjust their maps, ensuring they reflect its own views on territories and borders. Now, China is facing criticism and questions over why its popular apps, such as Baidu and…