Pete Davidson has bowed out of a short ride to space on a Jeff Bezos rocket. The “Saturday Night Live” star is no longer able to make the flight, which has been delayed for nearly a week, Bezos’ space travel company said Thursday night. No other details were provided. The… Read More
Russia may default on its bonds
Ratings agencies say Russia is on the verge of defaulting on government bonds following its invasion of Ukraine, with billions of dollars owed to foreigners. That prospect recalls memories of a 1998 default by Moscow that helped fuel financial disruption worldwide. Ratings agency Fitch said Wednesday that “a default or… Read More
Presidential hopeful to become Starbucks CEO… again
Longtime Starbucks CEO Howard Schultz is returning to lead the company on an interim basis after the coffee giant’s chief executive announced his retirement. Starbucks made the announcement Wednesday ahead of its annual meeting. Sponsored: This common fruit could help support blood pressure (not what you think) Kevin Johnson said… Read More
Manchin kills yet another Biden nominee
Sarah Bloom Raskin withdrew her nomination Tuesday to a position on the Federal Reserve’s Board of Governors after a key Democrat had joined with all Senate Republicans to oppose her confirmation. West Virginia Sen. Joe Manchin announced Monday that he opposed Raskin’s confirmation, and all Republicans in the evenly-split 50-50… Read More
DoorDash starts refunding its drivers due to high gas prices
Delivery company DoorDash said Tuesday it will refund its drivers for some U.S. gasoline purchases to help offset higher prices at the pump. DoorDash said it will give drivers 10% cash back when they buy gas using DasherDirect, the company’s debit card designed for drivers. Drivers will get the cash… Read More
Intel unveils $88B plan to ease the chip shortage
U.S. chipmaker Intel unveiled plans on Tuesday to invest up to 80 billion euros ($88 billion) across Europe as part of an ambitious expansion aimed at evening out imbalances in the global semiconductor industry that have led to big chip shortages. CEO Pat Gelsinger said Intel was investing the money… Read More
Facebook slapped with a $19 million fine
Ireland’s privacy watchdog has fined Facebook’s parent company, Meta, 17 million euros, or about $19 million, for violating Europe’s privacy law. The regulator, the Data Protection Commission, has been investigating how Meta Platforms Inc. complied with the requirements of the law, known as General Data Protection Regulation, in how it… Read More
Biden’s big gasoline lie
In March of last year, President Joe Biden signed the American Rescue Plan, a massive spending package known for its $1,400 checks. It was his first legislative accomplishment. Now, around the anniversary, Biden finds himself unable to take a victory lap. Instead, he’s been defending the bill against accusations of… Read More
Estimate: 45M Americans to place bets during March Madness
About 45 million Americans say they plan to bet on this year’s March Madness college basketball championship tournament, and an increasing percentage will do it in a way that doesn’t include filling out brackets, according to the gambling industry’s national trade group. In a report released Sunday night, the American… Read More
‘Soft landing’: Federal Reserve to raise interest rates Wednesday
The Federal Reserve on Wednesday will launch one of the most difficult tasks a central bank can attempt: Raise borrowing costs enough to slow growth and tame high inflation, but not so much as to topple the economy into recession. With a war raging in Europe and price increases at… Read More
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