The Los Angeles Times on Wednesday announced plans to cut 74 jobs due to economic challenges as the newspaper strives to transform itself into a digital media organization. In a message to staff, Times Executive Editor Kevin Merida wrote that employees whose positions are eliminated from the Pulitzer Prize -winning… Read More
Rory McIlroy feels like a ‘sacrificial lamb’ after PGA deal
Rory McIlroy, the strongest voice against Saudi-funded LIV Golf that caused so much disruption in golf, said Wednesday he now feels like a “sacrificial lamb” with the stunning reversal of the PGA Tour becoming partners with Saudi Arabia’s enormous wealth fund. It was McIlroy who helped lead a players-only meeting… Read More
Top senators ask TikTok CEO to explain “inaccurate” statements
Two U.S. senators are asking TikTok to explain what they called “misleading or inaccurate” responses about how it stores and provides access to U.S. user data after recent news reports raised questions about how the Chinese-owned social media platform handles some sensitive information. In a letter sent Tuesday to TikTok… Read More
Oakland A’s move to Las Vegas in flux as Nevada Legislature adjourns
High-profile proposals to help build a stadium for the Oakland Athletics and lure major film makers to Las Vegas through billions of dollars in tax credits are in flux after Nevada lawmakers adjourned their four-month legislative session early Tuesday. Republican Gov. Joe Lombardo called a special legislative session Tuesday evening… Read More
Skip or pause? Fed likely won’t raise rates next week… but maybe next month
When an increasingly fractious committee of Federal Reserve policymakers meets next week, Chair Jerome Powell will need to forge a consensus. One group of Fed officials would like to pause their relentless campaign of rate increases after 10 straight hikes to allow time to look around and assess whether higher… Read More
Donald Trump predicted this global mega-deal last year
The PGA Tour ended its expensive fight with Saudi Arabia’s golf venture and now is joining forces with it, making a stunning announcement Tuesday of a global merger that creates a commercial operation with the Public Investment Fund and the European tour. As part of the deal, the sides immediately… Read More
Binance mishandled funds and violated securities laws, according to lawsuit
The world’s largest cryptocurrency exchange Binance and its founder Changpeng Zhao are accused of misusing investor funds, operating as an unregistered exchange and violating a slew of U.S. securities laws in a lawsuit filed by the SEC. Filed in the U.S. District Court for the District of Columbia, the Securities… Read More
Apple unveils $3,500 headset, wading into the world of virtual reality
Apple on Monday unveiled a long-rumored headset that will place its users between the virtual and real world, while also testing the technology trendsetter’s ability to popularize new-fangled devices after others failed to capture the public’s imagination. After years of speculation, Apple CEO Tim Cook hailed the arrival of the… Read More
Kevin McCarthy clowns House Freedom Caucus
House Speaker Kevin McCarthy defeated Rep. Chip Roy, R-Texas… and Roy’s hard-right House Freedom Caucus allies were paper tigers this week. Lead by Roy, the House Freedom Caucus tried to scuttle McCarthy’s deal with Democrats that will balloon the debt level of the United States by $4 trillion. Sponsored: Deadliest… Read More
Employers add 339,000 jobs, but unemployment ticks up
The nation’s employers stepped up their hiring in May, adding a robust 339,000 jobs, well above expectations and evidence of enduring strength in an economy that the Federal Reserve is desperately trying to cool. Friday’s report from the government reflected the job market’s resilience after more than a year of… Read More
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