A Mississippi man pleaded guilty Monday to a federal wire fraud charge for misusing more than $6 million in business loans through a pandemic relief program, prosecutors said. Rather than use the money for his businesses, Christopher Paul Lick admitted using it for personal investments in the stock market and buying a home valued at […]
Consumer resilience: Retail sales rise 0.9% despite inflation
U.S. retail sales rose 0.9% in April, a solid increase that underscores Americans’ ability to keep ramping up spending even as inflation persists at nearly a 40-year high. The increase was driven by greater sales of cars, electronics, and at restaurants, the Commerce Department said Tuesday. Even adjusting for inflation, which was 0.3% on a […]
Elon Musk backs out of Twitter deal!?
Tesla CEO Elon Musk says his deal to buy Twitter can’t move forward unless the company shows public proof that less than 5% of the accounts on the social media platform are fake or spam. Musk made the comment in a reply to another user on Twitter early Tuesday. Sponsored: What eggs do to senior […]
Bitcoin tumbles amid a wild week in cryptocurrency
It’s been a wild week in crypto, even by crypto standards. Bitcoin tumbled, stablecoins were anything but stable and one of the crypto industry’s highest-profile companies lost a third of its market value. Here’s a look at some major developments in cryptocurrencies this week: Sponsored: Do This DIY Lung Cancer Test NOW BITCOIN The price […]
Officials: China’s economy rebounds amid COVID relaxation
China’s factory and consumer activity fell even more than expected in April under anti-virus controls, official data showed Monday, but a Cabinet official said the economy is reviving as anti-virus curbs ease and its commercial capital of Shanghai reopens. The slump in the second-biggest economy fueled fears global manufacturing and trade might be disrupted after […]
Stocks rally on Wall Street but still face sixth weekly loss
Stocks rallied on Wall Street Friday, but not enough to claw back all the losses the market has taken in this volatile week of trading. The S&P 500 rose 2.4% as of 12:01 p.m. Eastern. The benchmark index is still on track for its 6th straight losing week, something that hasn’t happened since 2011. Sponsored: […]
Breaking: Musk says Twitter deal is ‘temporarily on hold’ over this…
Elon Musk said Friday that his planned $44 billion purchase of Twitter is “temporarily on hold” pending details on spam and fake accounts on the social media platform, another twist amid signs of internal turmoil over the proposed acquisition. In a tweet, the Tesla billionaire linked to a Reuters story from May 2 citing a […]
Google starts translating more languages; experts skeptical
About 10 million people speak Quechua, but trying to automatically translate emails and text messages into the most widely spoken language family native to the Americas in the Americas was long all but impossible. That changed on Wednesday, when Google added Quechua and a variety of other languages to its digital translation service. Just ½ […]
eBay rattled by cyberstalking case; ex-employee pleads guilty
A former eBay Inc. executive pleaded guilty Thursday to participating in a scheme to terrorize the creators of an online newsletter that included the delivery of live spiders and other disturbing items to their home. David Harville, eBay’s former director of global resiliency, is the final onetime eBay employee charged in the case to plead […]
Senate confirms Powell to Fed again amid inflation
The Senate on Thursday confirmed Jerome Powell for a second four-year term as Federal Reserve chair, giving bipartisan backing to Powell’s high-stakes efforts to curb the highest inflation in four decades. The 80-19 vote reflected broad support in Congress for the Fed’s drive to combat surging prices through a series of sharp interest rate hikes […]
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