Finance & Business Archives - Page 2 of 393

Mexican drug cartel operators posed as U.S. officials to target Americans in timeshare scam, Treasury Department says

December 1, 2023

A Mexican drug cartel was so bold in operating frauds that target elderly Americans that the gang’s operators posed as U.S. Treasury Department officials, U.S. authorities said Thursday. The scam was described by the department’s Office of Foreign Assets Control, or OFAC. The agency has been chasing fraudsters using call centers controlled by the Jalisco … Read more

Climate Protesters Get in Fed’s Face as Policy Clash Grows Louder

December 1, 2023

A video of security officers wrestling a protester to the floor in the lobby of the Jackson Lake Lodge in Wyoming, outside the Federal Reserve’s most closely watched annual conference, clocked more than a million views. A protest that disrupted a speech by Jerome H. Powell, the Fed chair, at the Economic Club of New … Read more

Dow jumps 520 points as investors cheer inflation slowdown

November 30, 2023

Rate hike pause could be good for your 401(k) How rate hike pause could be good news for investment plans 05:10 Stocks ended November with a bang, with the Dow Jones Industrial Average jumping 520 points on Thursday and financial markets posting their biggest monthly gain in more than a year. The Dow rose 1.5% … Read more

Ronaldo hit with $1 billion class-action lawsuit for endorsing Binance NFTs

November 30, 2023

Portuguese soccer star Cristiano Ronaldo is facing a class-action lawsuit seeking at least $1 billion in damages for his role in promoting cryptocurrency-related “non-fungible tokens,” or NFTs, issued by the beleaguered cryptocurrency exchange Binance to millions of his fans. The lawsuit, filed in federal court in the Southern District of Florida Monday, alleges that Ronaldo’s … Read more

Red Lobster’s cheap “endless shrimp” offer chewed into its profits

November 30, 2023

When Red Lobster diners tucked into the seafood chain’s all-you-can-eat shrimp, they were also biting into something else — the company’s profits. In June, Red Lobster made its popular “Ultimate Endless Shrimp” promotion, which it had long offered on a limited-time basis a permanent fixture on its menu. The goal: to boost foot traffic to … Read more

CEOs favor stock analysts with the same first name, study shows. Here’s why.

November 30, 2023

Although sharing a first name with someone can create a bond, it may also give rise to illegal behavior. New research finds that company CEOs appear to give preferential treatment to securities analysts with the same first name. The study suggests that name matching among securities analysts and CEOs may led to unfair favoritism, even prompting some … Read more

United Airlines CEO Scott Kirby addresses pilot mental health concerns amid surge in air travel

November 30, 2023

Following recent scares involving pilots, and as a record number of travelers take to the skies, United Airlines CEO Scott Kirby told “CBS Mornings” that the company works to make sure pilots’ mental health is “in a good place.” Kirby said United pilots undergo training every nine months, including simulator sessions designed to prepare them … Read more

Netflix Games to roll out three Grand Theft Auto games in December

November 30, 2023

Netflix’s video game division has some good news for Grand Theft Auto fans agonizing over the years-long wait for the release of Grand Theft Auto VI’s release. Netflix Games is rolling out “Grand Theft Auto: The Trilogy — The Definitive Edition” on the App Store, Google Play and its own mobile app on December 14, … Read more

The Fed’s Preferred Inflation Measure Eased in October

November 30, 2023

A closely watched measure of inflation showed continued signs of fading in October, encouraging news for the Federal Reserve as officials try to gauge whether they need to take further action in order to fully stamp out rapid price increases. The Personal Consumption Expenditures inflation measure, which the Fed cites when it says it aims … Read more

Elon Musk says advertiser boycott at X could

November 29, 2023

Elon Musk faces backlash over X post Elon Musk faces backlash from lawmakers, companies over endorsement of antisemitic X post 02:23 Elon Musk, the billionaire owner of X, said the decision by some major advertisers to distance themselves from the social media platform (formerly known as Twitter) could “kill the company.” “And the whole world … Read more