Business News

(NEW YORK) -- Historic protests across China over its zero-COVID policy battered U.S. stocks on Monday, highlighting a close link between the contentious Chinese measures and domestic economic conditions that could help determine whether the U.S. enters a recession. Residents in isolation in some regions say they’ve gone without sufficient food or medical care. Meanwhile, protests flared up after a fire on Thursday in an apartment building in the northwest […]

(WASHINGTON) -- President Joe Biden on Monday asked Congress to intervene and avert a potential strike of the nation's railway workers -- which could upend huge parts of the economy that depend on freight to move goods -- by forcing the workers' unions to accept a deal negotiated earlier this year. In a statement, Biden described himself as a "proud pro-labor" president and said his decision was a difficult one. […]

(NEW YORK) -- Elon Musk, the billionaire entrepreneur who owns Twitter, attacked Apple on Monday in a series of tweets hammering the tech giant for allegedly decreasing the amount of ads it displays on Twitter and threatening to remove the platform from its App Store. “Apple has mostly stopped advertising on Twitter,” Musk tweeted. “Do they hate free speech in America?” In a post addressed to the Twitter account of […]

(NEW YORK) -- Kim Kardashian has broken her silence on Balenciaga's recent ad scandal. "I have been quiet for the past few days, not because I haven't been disgusted and outraged by the recent Balenciaga campaigns, but because I wanted an opportunity to speak to their team to understand for myself how this could have happened," she wrote on social media Sunday, Nov. 27. Kardashian has worn Balenciaga to high-profile […]

(NEW YORK) -- Shoppers spent a record $5.29B this Thanksgiving, according to Adobe Analytics -- a figure up 2.9% year-over-year. Adobe Analytics’s report on record spending may be surprising to some, as the economy is at an inflation level not seen in the last 40 years, and ongoing fears of a recession. Big discounts on toys and electronics enticed shoppers, according to Adobe Analytics. Mobile shopping -- purchases made through […]

(NEW YORK) -- As the holidays approach, experts estimate that roughly 60% of consumers plan on purchasing gift cards this December, making it one of the most popular gift-giving options. As a $173 billion business, gift cards have come a long way since they were first introduced in 1994. More than 3.4 billion gift cards were sold in the United States in 2021 and 47% of U.S. adults said they […]

(New York) -- Donald Trump reported nearly $1 billion in operating losses over a two-year period about a decade ago, an accountant testified at the criminal trial of the Trump Organization, spilling into public tax information that the former president has tried repeatedly to keep private. The accountant, Donald Bender, a partner at Mazars USA, the firm that prepared tax returns for Trump and his company, testified Tuesday that Trump […]

(New York) -- Former Elle columnist E. Jean Carroll will file a new lawsuit against former President Donald Trump on Thanksgiving, the first day of New York's new Adult Survivors Act that allows adult victims of sexual assault to file civil lawsuits that would otherwise be barred due to the passage of too much time, her attorneys said during a court hearing Tuesday. Carroll is already suing Trump for defamation […]

(NEW YORK) -- Elon Musk, who admitted to overpaying for Twitter, cut workers at the social media platform almost immediately. In response, some of the axed employees want their day in court. Within days of the acquisition, Musk fired top executives and cut the company's 7,500-person workforce in half. Soon after, he posed an ultimatum to employees asking that they commit to being, in Musk's words, "extremely hardcore" and "work […]