A U.S. bankruptcy judge rejected Johnson & Johnson’s $10 billion proposal to settle lawsuits alleging its talc products cause ovarian cancer, marking its third failed bankruptcy attempt. Judge Christopher Lopez ruled that J&J did not belong in bankruptcy and that its settlement lacked sufficient support from plaintiffs while overreaching in shielding non-bankrupt entities. J&J stated it will not appeal but will fight the claims in … Continue reading U.S. judge rejects Johnson & Johnson’s $10 billion baby powder settlement

General Motors and other automakers reported strong first-quarter U.S. sales growth ahead of President Trump’s new 25% auto tariffs set to take effect this week. GM saw a 16.7% increase, led by electric vehicles and SUVs, while Hyundai and Kia posted double-digit gains. Ford was the outlier, with a 1.3% decline due to the discontinuation of the Edge SUV. Anticipation of tariff-related price hikes drove … Continue reading GM’s first-quarter U.S. vehicle sales lead industry as automakers braces for tariffs

Job openings in the U.S. fell to 7.57 million in February, nearing a four-year low and signaling a gradual labor market cooldown. This marks a drop from 7.76 million in January, with openings remaining at their lowest since last September. Despite this, economists believe the labor market is stable enough for the Federal Reserve to maintain interest rates. Investor expectations of a rate cut by … Continue reading Job openings hit lowest level since September as labor market cools

Elon Musk’s artificial intelligence company, xAI, has acquired his social media platform, X, in a deal that values X at $33 billion. The all-stock transaction combines xAI’s advanced AI technology with X’s broad reach. Musk announced the merger on Friday, stating that the combined company would create smarter experiences for billions of users while advancing knowledge. xAI’s AI chatbot, Grok, integrated into X, will compete … Continue reading Elon Musk’s AI company buys X in blockbuster $33B stock deal

Charlie Javice, founder of the now-defunct college financial aid company Frank, was found guilty of swindling JPMorgan Chase into buying her company for $175 million. Prosecutors accused Javice of falsely inflating her company’s user base, claiming 4.25 million customers when only 300,000 were verified. She faces up to 30 years in prison for wire fraud, bank fraud, and conspiracy, with a lower maximum sentence for … Continue reading Charlie Javice, college financial aid startup founder, found guilty of defrauding JPMorgan

The Federal Communications Commission (FCC) is investigating Disney’s diversity and inclusion practices, citing concerns that the company may not be complying with government regulations. FCC Chairman Brendan Carr sent a letter to Disney, prompting the review of its DEI initiatives, including whether they violated equal employment opportunity laws. The investigation comes amid broader scrutiny of diversity programs under the Trump administration, which has targeted DEI … Continue reading Disney faces US investigation over DEI practices

Genetic testing company 23andMe has filed for Chapter 11 bankruptcy, putting the DNA data of millions up for sale and sparking major privacy concerns. Since 2006, 23andMe has built a vast genetic database, promising insights into health risks and ancestry. However, experts warn that users have no control over where their sensitive data goes, and U.S. privacy laws offer little protection. The 2023 hack exposing … Continue reading 23andMe bankruptcy filing sparks privacy fears as DNA data of millions goes up for sale

Tesla’s electric vehicle sales in Europe dropped by 49% in the first two months of the year, despite overall EV sales growth, according to the European Automobile Manufacturers’ Association. The decline is attributed to an aging product lineup and backlash against CEO Elon Musk, particularly his endorsement of Germany’s far-right Alternative for Germany (AfD) party, which sparked criticism in Europe. Meanwhile, Tesla faces increasing competition … Continue reading Tesla sales fall by 49% in Europe even as the electric vehicle market grows

Americans are increasingly pessimistic about the economic outlook, as rising prices and uncertainty around President Trump’s policies weigh on consumer confidence. The Conference Board’s consumer confidence index dropped to 92.9 in March, the lowest level in over four years. Consumers’ expectations for income, business, and labor conditions hit a 12-year low, while inflation expectations rose. There was also a notable decline in stock market outlook, … Continue reading Americans’ expectations for the economy hit their lowest level in 12 years

StubHub filed to go public on the NYSE under the ticker “STUB” after reporting a $2.8 million net loss on $1.77 billion in revenue for 2024. The ticket resale platform, founded in 2000, was acquired by eBay in 2007 and later bought back by co-founder Eric Baker in 2020 for $4 billion. StubHub had postponed its IPO last year due to market conditions but is … Continue reading StubHub files for IPO as companies start lining up to go public

FedEx (FDX) lowered its fiscal 2025 profit outlook again after reporting Q3 earnings slightly below expectations. EPS rose 17% to $4.51 on $22.2 billion in revenue, missing analyst forecasts of $4.56 EPS but exceeding revenue estimates of $21.87 billion. The company now expects fiscal 2025 EPS between $18 and $18.60, down from prior guidance of $19 to $20, Investor’s Business Daily has reported. CFO John … Continue reading FedEx Downgraded After Earnings

Nike’s shares dropped sharply Friday as investors questioned CEO Elliott Hill’s turnaround strategy after the company warned of a deeper sales decline. Nike reported a 9% drop in holiday quarter sales, including a 17% slump in China, and projected mid-teens percentage declines for Q4, worse than expected. The company blamed weak demand, new China tariffs, and external uncertainties. Nike is reversing past retail strategies, bringing … Continue reading Nike shares plunge after sneaker giant warns sales could fall by double digits

Boeing’s cash burn is easing, and factory performance is improving, with plans to boost aircraft deliveries, CFO Brian West said Wednesday. Shares rose nearly 7% after his comments. Despite last year’s $14 billion cash outflow and production setbacks, West expects improvement in the “hundreds of millions” this quarter. The company remains under FAA restrictions on 737 Max production following a January 2024 safety incident, CNBC … Continue reading Boeing shares jump after CFO gives upbeat outlook, says cash burn is easing

Ben & Jerry’s has accused parent company Unilever of firing CEO David Stever for supporting its progressive politics, violating merger agreements that granted the brand control over its social mission. The complaint, filed in U.S. District Court, alleges Unilever suppressed Ben & Jerry’s activism, including Black History Month posts and statements on Gaza and Palestinian activist Mahmoud Khalil. Unilever, expected to seek dismissal, has clashed … Continue reading Ben & Jerry’s accuses parent company of firing its CEO over the brand’s politics

Amtrak CEO Stephen Gardner is stepping down amid calls for privatization from DOGE head Elon Musk. Gardner, CEO since 2022, served 16 years at Amtrak. Musk criticized Amtrak’s performance, advocating for privatization to improve efficiency. Despite record ridership of 32.8 million passengers and $2.5 billion in ticket revenue in fiscal 2024, Amtrak reported a $635 million operating loss. The company rejected privatization claims, citing its … Continue reading Amtrak CEO stepping down

The Federal Reserve held interest rates steady but signaled potential cuts later in the year. The benchmark rate remains at 4.25%-4.5%, unchanged since December. Despite concerns over tariffs and slowing growth, officials project two rate cuts by 2025. The Fed also adjusted its bond-reduction strategy, slowing the pace of quantitative tightening. Inflation expectations rose slightly, and economic growth projections were downgraded to 1.7% for 2024. … Continue reading Fed holds interest rates steady, still sees two cuts coming this year

Trump recently signed an executive order creating a digital reserve backed by approximately 200,000 seized bitcoins, worth around $17 billion, which crypto chief David Sacks has called “a digital Fort Knox.” This reserve, funded by seized bitcoins, aims to stabilize the U.S. economy and potentially support the U.S. dollar. Bitcoin’s value has been volatile, with prices recently surpassing $3,000 per ounce, while some analysts suggest … Continue reading Trump’s bitcoin reserve a ‘digital Fort Knox’

The national average wholesale price of eggs dropped for the third consecutive week, falling to $4.15 per dozen from $8.05 just two weeks ago, due to reduced demand and a lull in bird flu outbreaks. The USDA reports that high egg prices had previously decreased consumer demand, while slower avian flu outbreaks improved supply. However, these price drops have not yet reached store shelves. The … Continue reading National average wholesale price of eggs drops for 3rd week in a row

Treasury Secretary Scott Bessent emphasized that the Trump administration is focused on the long-term health of the economy, not short-term market fluctuations. He dismissed concerns about recent volatility, stating that the goal is to create an environment for sustained market and economic growth. Bessent acknowledged market turmoil driven by Trump’s tariffs but expressed confidence that proper policies will lead to long-term gains in income, jobs, … Continue reading Bessent says White House focused on ‘real economy’ not concerned about ‘a little’ market volatility

Consumer sentiment dropped in March, with the University of Michigan’s survey showing a 10.5% decline to a mid-month reading of 57.9, the lowest since November 2022. Concerns over inflation and a falling stock market, compounded by President Trump’s tariffs on aluminum, steel, and European goods, fueled the drop. The expectations index fell sharply, while the one-year inflation outlook increased to its highest level since November … Continue reading Consumer sentiment slumps in March to lowest since 2022

Gold prices have reached a record $3,004.86 per ounce, driven by a 14% increase since the start of 2025. Economic uncertainty from the ongoing US trade war and fears of inflation due to tariffs have made gold a sought-after safe asset. Tariffs, like the US’s threats on EU alcohol and Chinese imports, are raising costs for businesses and consumers, further fueling demand for gold. Central … Continue reading Gold price hits $3,000 as trade tensions mount

Walmart is clashing with China over efforts to offset tariffs imposed under Trump, pressuring suppliers to absorb costs. Chinese officials criticized the move, warning of potential consequences. Walmart, which sources 60% of its shipments from China, risks price hikes in key markets but has leverage as a major buyer, Axios has reported. The retailer offered to work with suppliers to minimize damage, but tensions remain … Continue reading Walmart clashes with China after asking suppliers to absorb tariffs

February’s Consumer Price Index (CPI) showed inflation easing, with prices rising 2.8% annually, down from January’s 3% increase and below forecasts. Monthly inflation slowed to 0.2%, signaling a cooling trend. Core inflation, excluding food and gas, rose 3.1% year-over-year, the lowest since April 2021. Shelter costs, a key driver, continued to decline, while gas prices dropped 1%. Food price growth slowed, but egg prices surged … Continue reading CPI inflation data cools in February, easing investor fears about the health of the US economy

Intel appointed Lip-Bu Tan as its new CEO, replacing interim co-CEOs David Zinsner and MJ Holthaus after Pat Gelsinger’s turbulent tenure. Tan, former CEO of Cadence Design Systems and an ex-Intel board member, aims to revitalize the company amid declining sales and AI struggles. Intel’s stock surged 12% on the news. The company has faced mounting investor pressure, costly chip production plans, and competition from … Continue reading Intel appoints Lip-Bu Tan as CEO to orchestrate turnaround

Tesla’s stock plummeted 15% on Monday, marking its worst day since September 2020, following a seven-week losing streak. Shares have dropped more than 50% since December, losing over $800 billion in market value. The sell-off was linked to uncertainty about President Trump’s tariff plans, which could raise production costs. Additionally, Tesla is facing brand damage from CEO Elon Musk’s political involvement, controversial statements, and reports … Continue reading Tesla shares plunge 15%, suffering steepest drop in five years