Business News

(NEW YORK) -- While some companies are steering away from diversity, equity, and inclusion (DEI) policies, others are sticking with their previous commitments.Leaders at Goldman Sachs, Costco and JPMorgan Chase & Co have recently spoken out in support of their diversity programs, as anti-DEI activist shareholders continue to push proposals that would roll back company policies.Costco's Board of Directors unanimously voted Thursday against a proposal from the National Center for […]

(WASHINGTON) -- President Donald Trump on Thursday said he will call for a lowering of U.S. interest rates, exerting pressure on the Federal Reserve despite a longstanding norm of political independence at the central bank.During a virtual address to the World Economic Forum in Davos, Switzerland, Trump demanded a drop in interest rates after calling for a reduction of oil prices set by a group of nations known as OPEC, which includes Saudi […]

(NEW YORK) -- Shares of Netflix soared 12% in early trading on Wednesday, just hours after the streaming giant announced price increases set to impact all of the company’s U.S. subscribers.The standard monthly subscription without advertisements will climb from $15.49 to $17.99, and a standard monthly subscription with ads will increase one dollar to $7.99, Netflix said.The price hikes arrived alongside a stellar earnings report that showed the largest subscriber […]

(ISSAQUAH ,WA) -- In pursuit of increased wages and renegotiated employee benefits, more than 18,000 Costco union members nationwide voted to authorize a strike if the wholesale company doesn't agree to their terms by Jan. 31.The looming Costco strike marks the latest in a string of Teamsters union walkouts from employees of industry giants including Amazon and Starbucks.The strike was approved on Sunday with more than 85% of Costco Teamsters […]

Scott Olson/Getty Images (NEW YORK) -- Cryptocurrencies affiliated with President Donald Trump and first lady Melania Trump plummeted in the initial hours after Trump was sworn into office Monday."Official Trump," a recently launched crypto token, plunged more than 20% in value over a 24-hour stretch ending Tuesday morning, according to crypto tracking site CoinGecko. After the drop, Official Trump stood at $38.The decline for Trump's meme coin reverses some of […]

TikTok said Sunday it's "restoring service" after a ban in the United States initially began to take effect earlier in the day."In agreement with our service providers, TikTok is in the process of restoring service. We thank President Trump for providing the necessary clarity and assurance to our service providers that they will face no penalties providing TikTok to over 170 million Americans and allowing over 7 million small businesses […]

(WASHINGTON) -- Consumer prices rose 2.9% in December compared to a year ago, ticking up from the previous month and extending a resurgent bout of inflation just days before President-elect Donald Trump takes office. The reading matched economists' expectations.The fresh data arrives after a jobs report last week showed stronger-than-expected hiring in December, which sent the stock market plummeting and bond yields soaring on fears that the Federal Reserve may […]

(LOS ANGELES) -- Multiple fires raging across the Los Angeles area will cost insurers as much as $30 billion, Wells Fargo and Goldman Sachs estimated in a report released this week.After accounting for non-insured damages, the total costs will balloon to $40 billion, the report said.The ongoing fires, according to analysts, “appear to already be the costliest wildfire event in California history.”The forecast would make the fires one of the 20 costliest natural disasters in U.S. […]

(NEW YORK) -- TikTok mounted a last-ditch effort at the Supreme Court on Friday meant to stop a ban of the app set to take effect within days -- but the platform's arguments may have landed with a thud.A majority of the justices appeared inclined to uphold a federal law that would ban the company unless it divests from China-based parent Bytedance.TikTok has challenged the law on First Amendment grounds, […]