Business

On Tuesday, Twitter users wondered why their timelines were showing so many tweets from Elon Musk. Now, a new report provides a reason: Elon Musk was upset that his tweet about the Super Bowl got fewer views than one from US President Joe Biden. The Twitter CEO flew his private jet from the Super Bowl in Phoenix Sunday night to…

On Tuesday we learned that inflation slowed from 6.5% in December to an annual rate of 6.4% in January. Overall, inflation has increased by 16.2% since December 2019. For comparison, over the entire decade of the 2010s, headline inflation rose by 18.75%. That means if a given worker’s income hasn’t increased by at least 16.2% since December 2019, their “real”…

Renewed pressure on the Federal Reserve to intensify its inflation fight in the grip of a still-resilient economy is forcing Wall Street pros to reconsider the stock trading landscape. After a worrying consumer prices report was released on Tuesday, bond investors have boosted expectations that interest rates will rise above 5% and stay there. The two-year Treasury yield rose sharply…

Puffs of smoke, questions about dead animals, worries about drinking water. A train derailment in Ohio and the subsequent burning of some dangerous chemicals has people asking: How concerned should they be? It has been more than a week since some 50 cars of a freight train derailed in a fiery, mangled mess on the outskirts of eastern Palestine near…

Despite fears of inflation and recession, Americans have continued spending over the past year to keep businesses afloat and people employed. Even now, as the money many people saved during the pandemic is drying up, spending is still going strong. But requiring US consumers to buy and then buy more is a double-edged sword. While it keeps the economy going,…

The Biden administration on Tuesday outlined how states and nonprofit groups can apply for $27 billion in funding from a “green bank,” which provides low-cost financing for projects to reduce greenhouse gas emissions. The Greenhouse Gas Reduction Fund, created by the landmark climate bill passed by Congress last year, will invest in clean energy projects nationwide, with a focus on…

The three yet-to-be-identified aerial objects shot down by the US last week likely had only a “benign purpose,” the White House conceded on Tuesday, distinguishing between them and the giant Chinese balloon that previously sent the US with a suspected target had crossed the surveillance. “The intelligence community is considering the main explanation that they could only be balloons associated…

“Pharma Bro” Martin Shkreli may have received some compensation when he was sentenced to seven years in prison for securities fraud in 2018. Or when he was ordered to pay $64.6 million in January 2022 for increasing the price of Daraprim, an antiparasitic drug commonly prescribed to immunocompromised patients. Or when he was forced to give up the world’s rarest…

President Joe Biden plans on Tuesday to nominate Federal Reserve Vice Chairman Lael Brainard as the new director of his National Economic Council, which will see the Ph.D. Economist a key person for coordinating policy, speaking with business leaders and negotiating with Congress. Biden also plans to nominate longtime adviser Jared Bernstein to chair the White House Council of Economic…

Microsoft’s recent investment in OpenAI was widely viewed as a last-ditch effort to revive its dying search engine Bing from obscurity, but could it actually be much more than that? Cathie Wood’s ARK Invest believes Google has more to lose than its utter dominance of Internet searches, which generates nearly 60% of parent company Alphabet’s total revenue from online advertising…