Chris Martin knew he needed a bigger car as the birth of his fourth child approached, but he and his wife were already $14,000 underwater on their two vehicles. So the couple proposed an unusual two-for-one deal with an Atlanta-area auto dealer in 2020: trading in both of their vehicles so they could afford a […]
Category: Business
US bans TikTok on federal devices, China reacts
China has accused the US of overreacting after federal employees were ordered to remove the video app TikTok from government-issued phones. On Monday, the White House gave government agencies 30 days to ensure that employees did not have the Chinese-owned app on federal devices. The order follows similar moves by the EU and Canada in […]
Americans are spending, despite inflation
Something unexpected is going on in the U.S. economy. Inflation remains high, yet many Americans went on a spending spree last month, eating out at restaurants and shopping for cars. In ordinary times, that additional spending would be welcome news to an economy that’s heavily dependent on consumer dollars. But there’s a catch: All that […]
Dilbert banned by 100’s of newspapers after ‘Racist Tirade’
Newspapers across the country dropped the “Dilbert” comic strip over the weekend after the creator of the satirical cartoon went on a racist tirade, calling Black Americans a “hate group” and suggesting that White people should “get the hell away” from them. The USA Today Network, which operates hundreds of newspapers, said it had pulled […]
Inflation surges in January, Dow drops 400
The Federal Reserve’s preferred inflation gauge rose last month at its fastest pace since June, an alarming sign that price pressures remain entrenched in the U.S. economy and could lead the Fed to keep raising interest rates well into this year. Friday’s report from the Commerce Department showed that consumer prices rose 0.6% from December […]
Worst housing market downturn since 2008
U.S. homeowners have lost a staggering $2.3 trillion in market value since June as higher interest rates drive down demand in the formerly red-hot housing market, and many economists predict the decline will continue throughout the year, as mortgage costs remain elevated and keep sidelining potential buyers. The total value of U.S. homes has fallen […]
The 4 day work week is on the horizon
A pilot program testing a four-day work week in the United Kingdom has been hailed as a “resounding success” after employees reported improved well-being and a majority of the participating companies said they would keep the change. A total of 61 British companies with around 2,900 workers were enrolled in the trial, with employees working […]
Internet could be upended this week by the SCOTUS
The Supreme Court is set to hear back-to-back oral arguments this week in two cases that could significantly reshape online speech and content moderation. The outcome of the oral arguments, scheduled for Tuesday and Wednesday, could determine whether tech platforms and social media companies can be sued for recommending content to their users or for […]
Biden spends 7.5B on US charging station access
The Biden administration unveiled a new set of measures Wednesday designed to tackle a persistent problem with driving long distances in an electric vehicle (EV): finding a charging station that works for your car’s model. The plan announced Wednesday, officials hope, will gradually do away with the issue by building out a network of both […]
Companies are now backtracking on remote work
Amid looming economic instability and widespread layoffs, bosses are ordering their workers back to the office. Does it mark a permanent return to in-person working? In January, Disney employees received a memo from CEO Bob Iger. Like other entertainment conglomerates, the media giant had been operating a hybrid-working policy, in which teams were allowed to […]
Is TikTok really a threat to national security?
TikTok, the popular Chinese-owned social media app, has become a target for state and federal lawmakers over the past two years because of privacy and security risks. They are concerned that the Chinese company that owns TikTok, ByteDance, could share information from its more than 100 million American users with the Chinese government. More than […]
Is your IRA tanking on account of ESG rules?
More than 100 conservative leaders and groups organized by former Vice President Mike Pence’s political advocacy group are backing a new resolution from Sen. Mike Braun, R-Ind., and Rep. Andy Barr, R-Ky., that would block a move by the Biden administration to promote a “woke capital agenda.” Last week, every Republican senator and West Virginia […]