Microsoft Completed Their $69 Billion Acquistion of Activision
After overcoming regulatory problems all over the globe, Microsoft has completed their $69 billion acquisition of the video game company Activision.
Exxon Agreed to Purchase Pioneer for $60 Billion
Exxon has agreed to purchase shale company Pioneer for almost $60 billion to create a shale giant company.
336,000 New Jobs Were Added in September
U.S. employers added 336.000 jobs in September, but unemployment rate stayed at 3.8%
Rite Aid to Close Hundreds of Stores
Wall Street Journal is reporting that Rite Aid will close hundreds of stores as part of a bankruptcy plan with the company’s creditors.
Fox Chairman Rupert Murdoch to Step Down from His Position
Rupert Murdoch, 92, has announced that he will step down from his chairmanship of Fox Corporation and Fox News. His son Lachlan will be the new chairman.
United Auto Workers Have Voted to Go on Strike
The United Auto Workers union voted to go on strike, Thursday night. They voted to go on strike after negotiations with Ford, General Motors & Stellantis on a new contract…
The European Central Bank Raised the Key Interest Rate
The European Central Bank has raised the key interest rate by a quarter percentage point to a record high.
FDA Experts Say a Popular Nasal Decongestant Does Not Actually Relieve Congestion
FDA experts have said that a popular nasal decongestant doesn’t actually offer relief for congestion. They said that is likely no better than a dummy pill. The ingredient is known…
J.M. Smuckers Is Purchasing Hostess Snack Cakes in a $5.6 Billion Deal
J.M. Smuckers is purchasing Hostess, the maker of snack cakes, for around $5.6 billion, in a cash-and-stock deal.
Trucking Company Yellow Filed for Bankruptcy
The 99 year old trucking company Yellow has filed for bankruptcy and closing its business. Yellow suffered huge debt including a large government loan as well as a dispute with…
U.S. Employers Added 187,000 Jobs in July
United States employers added 187,000 jobs in July 2023. The unemployment rate fell to 3.5%.
The United States Economy Grew at a 2.4% in the Second Quarter
The United States economy grew at a 2.4% annual rate for the second quarter of 2023.
Federal Paused the Pause on Raising Interest Rates
The Federal Reserve paused the pause on raising interest rates. The Fed raised interest rates by a quarter point to the highest level in 22 years. The rates range from…
UPS Reached a Tentative Agreement with the Teamsters Union
UPS has reached a tentative contract agreement with its 340,000 person Teamster union. The agreement averts a strike that could have disrupted nationwide shipping for millions of customers.
Regulators Fined Bank of American $250 Million
According to the Consumer Financial Protection Bureau, banking regulators have fined the Bank of American over $250 million for doubling up on custmer fees, opening accounts without authorization, and withholding…
F.T.C. Sued Amazon
The Federal Trade Commission has sued Amazon. The F.T.C. alleged that Amazon has tricked millions of customers into signing up for Amazon Prime by using deceptive interface designs. They also…
Alibaba Named Their New Chairman & CEO
The Alibaba Group announced that they have chosen Joseph Tsai as the new chairman and Eddie Wu has their new CEO. Wu will take over in September from current CEO…
Federal Reserve Occicials Agreed to Not Raise Interest Rates Right Now
The Federal Reserve officials have agreed to not raise interest rates right now after 10 consecutive rate increases. The offiicals have signaled more increases in the future if inflation doesn’t…
Consumer Price Index Shows That Inflation Has Been Cut Over Half What It Was at Last Year’s Peak
The Consumer Price Index has showed that the invlation rate has been cut over half what it was at last year’s peak. The CPI rose 4% last month from the…
President Biden Signed the Debt Ceiling Bill Into Law
Washington, D.C.: President Joe Biden signed the bipartisan debt ceiling bill to keep the government funded for 2 years.
U.S. Employers Added 330,000 Jobs in May
United States employers added 333,000 jobs last month. This continues the massive job growth for the year, but the unemployment rate rose to 3.7%.
U.S. Senate Easily Approved the Debt Ceiling Bill
Washington, D.C.: The United States Senate easily approved the bipartisan debt ceiling bill that would keep the government from defaulting on their bills. It now goes to the Oval Office…
The U.S. House Passed the Debt Ceiling Bill
Washington, D.C.: In a 317-117 bipartisan vote, the United States House of Representatives passed the bill which raises the debt ceiling. The bill now goes to the U.S. Senate. The…
The White House & G.O.P. Negotiators Have Reached a Deal Regarding to Raise the Debt Ceiling
Washington, D.C.: The White House and G.O.P. negotiators have agreed on a bipartisan deal which will raise the debt limit for two years. The deal caps and cuts some government…
European Union Fined Facebook’s Parent Company Meta with a Record Fine
The European Union privacy regulators fined Meta, Facebook’s parent company, with a record fine of $1.3 billion. The regulators allegedly sent user information to the United States servers.