On Wednesday, President Joe Biden returned from vacation to announce his long-awaited plan to forgive billions and billions of dollars in student debt… and not everyone is happy. Biden faced pressure from liberals to provide broader relief to hard-hit borrowers, and from moderates and Republicans questioning the fairness of any… Read More
More and more people renovate laundry rooms over this
Those who have an in-home clothes washer and dryer often take it for granted. But even in larger homes, we haven’t had the convenience all that long. Indoor plumbing and power made electric washers and tumble dryers possible, and by 1937 they appeared on the market. Most people plopped these… Read More
SEC investigates Twitter over how to find number of fake accounts
U.S. securities regulators are questioning Twitter about how it calculates the number of fake accounts on its platform. The Securities and Exchange Commission in June asked the company about the methodology for calculating the false or spam accounts and “the underlying judgments and assumptions used by management.” This MD’s New… Read More
Theater operator considers bankruptcy amid cinema industry struggles
Conditions are dimming at many movie theaters around the world. Cineworld Group PLC, one of the industry’s biggest theater operators, confirmed Monday that it’s considering filing for Chapter 11 bankruptcy protection in the U.S., as it contends with billions of dollars in debt and more empty seats in front of… Read More
Former Twitter security chief files whistleblower complaints
A former head of security at Twitter has filed whistleblower complaints with U.S. officials, alleging that the company misled regulators about its cybersecurity defenses and its problems with fake accounts, according to reports by The Washington Post and CNN. Peiter Zatko, Twitter’s security chief until he was fired early this… Read More
Ford slashes 3,000 jobs over this shift
About 3,000 white-collar workers at Ford Motor Co. will lose their jobs as the company cuts costs to help make the long transition from internal combustion vehicles to those powered by batteries. Leaders of the Dearborn, Michigan, automaker made the announcement Monday in a companywide email, saying that 2,000 full-time… Read More
Musk subpoenas old friend: former Twitter CEO Jack Dorsey
Tesla CEO Elon Musk has subpoenaed his friend and former Twitter CEO Jack Dorsey as part of an effort to back out of his $44 billion agreement to acquire the company Dorsey helped found, according to court documents. Twitter and Musk are headed for an Oct. 17 trial in Delaware… Read More
Ex-Formula One chief Bernie Ecclestone denies fraud charge
Former Formula One boss Bernie Ecclestone on Monday denied a fraud charge over his alleged failure to declare millions of pounds (dollars) in overseas assets. Ecclestone, 91, entered a not guilty plea as he appeared at Westminster Magistrates’ Court in London for a brief hearing. This MD’s New COPD “Lung… Read More
Adidas CEO to step down next year amid search for successor
Adidas CEO Kasper Rorsted will step down next year, the sports apparel maker said Monday, and the company has started looking for a successor. Rorsted, who has been CEO since 2016, and its supervisory board “mutually agreed” that he will hand over during the course of 2023, the Herzogenaurach, Germany-based… Read More
Global stocks lower before Federal Reserve meeting this week
Global stocks and Wall Street futures declined Monday as investors looked ahead to this week’s Federal Reserve conference for signals about more possible U.S. rate hikes to cool surging inflation. London and Frankfurt opened lower. Tokyo and Hong Kong declined. Shanghai, the only major market to advance, gained after China’s… Read More
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