Palantir, a defense contractor, has seen its stock surge over 600% since the start of 2024, making CEO Alex Karp a major beneficiary. Karp sold 38 million shares, worth $1.88 billion, including 25 million shares around the 2024 presidential election. He plans to sell up to 9.98 million more shares this year, potentially netting over $1 billion. These sales are part of a pre-planned trading … Continue reading Palantir CEO Alex Karp made nearly $2 billion from selling company stock last year

Bybit, a major cryptocurrency exchange based in Dubai, was recently hacked, losing $1.5 billion worth of Ethereum in the largest crypto theft to date. The North Korean hacking group Lazarus is suspected to be behind the attack. The group exploited a masked UI and URL to deceive wallet signers into approving a malicious transaction, gaining control of Bybit’s Ethereum cold wallet. The stolen funds were … Continue reading Korean Hackers Steal $1.5 Billion From Cryptocurrency Exchange

Elon Musk recently responded to a proposal for a “DOGE Dividend” on X (formerly Twitter), suggesting he would discuss it with President Donald Trump. The proposal, pitched by James Fishback, CEO of Azoria, suggests a $5,000 tax refund for households funded by savings from DOGE’s Department of Government Efficiency (DOGE). The plan aims to return 20% of DOGE’s targeted $2 trillion savings to taxpayers, benefiting … Continue reading Musk Mulls Sending All Americans $5,000 Checks Using DOGE Savings

Southwest Airlines announced it is cutting 15% of its corporate jobs, about 1,750 positions, to reduce costs. CEO Bob Jordan described the layoffs as “unprecedented” in the company’s 53-year history, aiming for $210 million in savings this year and $300 million in 2026. The cuts, which include senior leadership roles, are expected to be completed by the end of Q2. This follows a settlement with … Continue reading Southwest Airlines to slash 15% of corporate jobs in ‘unprecedented’ move to cut costs

A judge in Argentina has been appointed to investigate fraud allegations against President Javier Milei for promoting the $LIBRA cryptocurrency, which collapsed within hours of its launch last week. Milei distanced himself from the project, stating he acted in good faith, and denied involvement with its creators. While he initially supported the cryptocurrency as an entrepreneurial project, he later retracted his endorsement as its value … Continue reading Argentine judge investigates fraud case against President Milei over crypto promotion

U.S. stocks began the shortened holiday week mostly higher, with investors awaiting more insights on President Trump’s tariff plans and the release of minutes from the Federal Reserve’s last meeting. Despite concerns over tariffs and rising inflation, stocks have been nearing record highs. As of early Tuesday, the S&P 500, Dow, and Nasdaq were close to their peaks. Investors are focused on the Fed’s stance … Continue reading Stock market little changed but near record highs

OpenAI’s board unanimously rejected Elon Musk’s $97.4 billion takeover offer, with chairman Bret Taylor calling it an attempt to disrupt competition. OpenAI CEO Sam Altman had previously stated the company wasn’t for sale, and the board’s decision reinforces this stance. Musk’s offer, which came from a consortium of entities, included conditions that OpenAI deemed not in its best interest. OpenAI is currently separating its nonprofit … Continue reading OpenAI board unanimously rejects Elon Musk’s takeover offer

A judge ruled on Friday that the Consumer Financial Protection Bureau (CFPB) cannot fire employees without cause, blocking President Trump’s efforts to dismantle the agency. This decision followed a lawsuit by several unions challenging actions by the CFPB and its acting director, Russell Vought. The ruling prevents mass layoffs and mandates that any firings must be based on employee performance. Vought had sought to cut … Continue reading Judge temporarily blocks mass terminations at Consumer Financial Protection Bureau

The IRS plans to lay off thousands of probationary workers during tax season, with cuts potentially starting as soon as next week. This move is part of broader efforts by the Trump administration to reduce the federal workforce by eliminating probationary employees without civil service protection. While the exact number of IRS workers affected is unclear, the agency previously restricted buyout offers for employees working … Continue reading IRS will lay off thousands of probationary workers in the middle of tax season

Tri-Union Seafoods has issued a voluntary recall for select canned tuna products sold at Trader Joe’s, Walmart, Costco, and other retailers due to a pull-tab defect that could lead to botulism. The recall affects Genova, Van Camp’s, Trader Joe’s, and H-E-B brand tuna, with compromised seals that may cause leakage or contamination. No illnesses have been reported, but consumers are advised not to eat the … Continue reading Canned tuna at Trader Joe’s, Walmart and Costco recalled over botulism risk

An egg shortage caused by avian flu has led grocery stores like Costco, Trader Joe’s, and Sprouts Farmers Market to limit egg purchases. Trader Joe’s allows only one dozen eggs per customer daily, while Costco has set a three-package limit in stores and a five-dozen cap for online orders. Signs warn of continued shortages, with some stores restricting purchases to four dozen eggs per visit. … Continue reading Costco, Trader Joe’s Impose Egg Rationing As Avian Flu Hits Supply

The Trump administration is rapidly dismantling the Consumer Financial Protection Bureau (CFPB), halting its operations, cutting funding, and closing its headquarters. This move mirrors earlier efforts to weaken the agency, but with Elon Musk’s Department of Government Efficiency (DOGE) aggressively slashing government programs, concerns are mounting over the extent of the damage. Acting CFPB Director Russell Vought has ordered staff to stop work, rejected new … Continue reading Musk, DOGE descend on consumer bureau

Many major U.S. companies are quietly scaling back or removing references to “diversity, equity, and inclusion” (DEI) in their annual reports, a trend linked to growing political pressure. Companies like Google, Disney, Pepsi, and Intel have reduced or eliminated DEI language, often citing reassessments of their programs amid changing political climates, including executive orders from President Trump. Some companies have even cut specific diversity hiring … Continue reading GM, Pepsi, Disney, others scrub some DEI references from investor reports

Consumers grew more concerned about inflation in February, with the University of Michigan’s survey showing expectations for inflation a year from now rising to 4.3%, the highest since November 2023. This jump in inflation concerns followed President Trump’s aggressive tariff actions, including against China, despite delaying tariffs on Canada and Mexico. The survey also revealed a decline in consumer sentiment, with the overall index dropping … Continue reading Consumer inflation fears spike in February as tariff worries hit sentiment

U.S. employers added 143,000 jobs in January, with the unemployment rate falling to 4%. The job growth was slower compared to previous months, and economists had expected 170,000 new jobs. Despite the solid job market, wage growth slightly exceeded expectations, raising concerns about inflation. Trump’s administration is expected to make significant economic changes, including cutting federal jobs, imposing tariffs, and deporting undocumented workers, which could … Continue reading US employers added 143,000 jobs in solid January hiring, jobless rate fell to 4%

Chipotle Mexican Grill exceeded analysts’ earnings expectations with a 13.1% rise in net sales to $2.85 billion, driven by a 5.4% increase in same-store sales. However, the company disappointed investors with a lower-than-expected sales forecast for 2025, citing weaker traffic in January and challenges from weather events like wildfires. Despite a strong performance in 2024, Chipotle anticipates modest same-store sales growth for 2025, with a … Continue reading Chipotle earnings beat estimates, but stock falls on weak same-store sales forecast

Mattel may raise prices on toys like Barbie and Hot Wheels due to new tariffs imposed by President Trump.  The company, which manufactures about 40% of its toys in China, is considering price hikes while also exploring ways to adjust its supply chain to mitigate tariff impacts. Trump recently imposed a 10% tariff on Chinese goods, with a temporary pause on 25% tariffs for Mexico … Continue reading Mattel says Barbies and Hot Wheels could soon get more expensive

Waffle House has introduced a 50-cent surcharge per egg on customer orders due to a nationwide egg price increase caused by an ongoing avian flu outbreak. The chain, which serves 272 million eggs annually, stated that the bird flu has significantly reduced egg supply and caused prices to rise by nearly 40% over the past year. The surcharge will remain until market conditions improve, CNN … Continue reading Waffle House is placing a surcharge on every egg it sells

Eurozone inflation rose to 2.5% in January, surpassing expectations due to a sharp increase in energy costs, according to Eurostat data. Core inflation, excluding food, energy, alcohol, and tobacco, held steady at 2.7%, while services inflation slightly decreased to 3.9%. Energy costs surged by 1.8%, up from a minimal rise in December. Despite the rise in inflation, the European Central Bank (ECB) remains on track … Continue reading Euro zone inflation rises to hotter-than-expected 2.5% in January

Oil prices surged following President Trump’s announcement of tariffs on major trading partners, sparking concerns over supply disruptions. Brent crude rose 1.3% to $76.64 per barrel, and WTI increased 2.3% to $74.20. Starting Tuesday, the U.S. will impose a 25% tariff on imports from Canada and Mexico, including a 10% levy on energy products from Canada and China. The U.S. imports around 4 million barrels … Continue reading Oil Rises as Trump’s Tariffs Raise Supply Fears

Global stock markets dropped, with the dollar strengthening and oil prices rising, after President Trump imposed tariffs on imports from Canada, Mexico, and China. Asian markets, particularly Taiwan, South Korea, and Japan, saw sharp declines, with Japan’s Nikkei Index falling 2.5%. European markets were also hit, with the STOXX 600 index down 1.4%, and major carmakers’ stocks, including GM, Ford, Toyota, and Volkswagen, falling due … Continue reading Global stocks slide as Trump imposes tariffs on imports

The FDA has upgraded a December recall of Lay’s potato chips to its highest risk level, “Class I.” Originally affecting over 6,000 bags of 13 oz. classic chips in Washington and Oregon, the recall was prompted by the presence of undeclared milk, which poses a serious risk to individuals with severe allergies. The upgraded recall now warns that exposure to the product could cause serious … Continue reading FDA upgrades recall of Lay’s potato chips to most serious level