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Latest Stories (410)

FTC sues Amazon over "manipulative" Amazon Prime enrollment and cancellation tactics

Jun 21, 2023
The FTC also alleged that Amazon's leadership slowed or rejected changes that made canceling the Amazon Prime subscription easier.
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Debt ceiling deadline is extended to June 5, later than previously estimated, Yellen says

May 26, 2023
Treasury Secretary Janet Yellen said Friday the projected debt ceiling deadline is extended to June 5, four days later than previously estimated.
Treasury Secretary Janet Yellen Yellen said in letter to Congress that inaction on raising the U.S. debt limit would “cause severe hardship.”
Alex Wong/Getty Images

Fed raises key interest rate but hints it may pause amid bank turmoil

May 3, 2023
The Fed’s rate increases over the past 14 months, aimed at quelling inflation, have elevated the cost of loans and heightened the risk of a recession.
The Federal Reserve signaled that it may pause its series of rate hikes, which have made borrowing more expensive in a bid to quell inflation. Above, Fed Chair Jerome Powell in March.
Alex Wong/Getty Images

Yellen: U.S. could hit debt limit as soon as June 1

May 1, 2023
The treasury secretary urges Congress to protect nation’s “full faith and credit” by raising the government’s borrowing authority.
In a letter to House and Senate leaders, the treasury secretary urged Congress “to protect the full faith and credit of the United States by acting as soon as possible.”
Stefani Reynolds/AFP via Getty Images

In his first veto, President Biden defends Labor Department's ESG rule

Mar 20, 2023
Critics say ESG investments allocate money based on political agendas rather than on earning the best returns for savers.
It's unlikely that Republicans have enough votes in Congress to reach the two-thirds majority required in each chamber to override Biden's veto.
Leon Neal/Getty Images

Banks working on rescue plan for First Republic, AP sources say

Mar 16, 2023
A group of Wall Street banks is planning a rescue package of around $30 billion for First Republic Bank, sources told The Associated Press on Thursday.
First Republic serves a similar clientele as Silicon Valley Bank, which failed Friday after depositors withdrew about $40 billion.
Justin Sullivan/Getty Images

Meta cuts 10,000 jobs in second wave of layoffs since November

Mar 14, 2023
Meta and other tech companies have been hiring aggressively in recent years but have recently begun to let some of those workers go.
Meta said Tuesday it will reduce the size of its recruiting team and make further cuts in its tech groups in late April, followed by its business groups in late May.
Josh Edelson/AFP via Getty Images

Silicon Valley Bank is seized by U.S. after historic failure

Mar 10, 2023
The bank's failure arrived with incredible speed, with some industry analysts on Friday suggesting it was still likely a wise investment.
The Silicon Valley Bank headquarters in Santa Clara, California, on March 10.
Noah Berger/AFP via Getty Images