Brent Jabbour
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Dow Jones snapping worst losing streak in 50 years
After the worst losing streak in 50 years, the stock market is looking to snap back Thursday, Dec. 19. The Dow Jones Industrial Average’s 10-day losing streak through Wednesday, Dec. 18, is the longest since 1974. During the losing streak, the market wiped out all of its post-election gains. The Dow ended Wednesday down 2.5%… -
Is your Wi-Fi router a national security risk? US government weighs ban
TP-Link is the bestselling Wi-Fi router internationally and on Amazon. Now, the U.S. government is considering banning these devices over cyberattack risks. According to a Wall Street Journal report, investigators at three agencies, Commerce, Defense and Justice, are looking into these Chinese-made routers. In October, Microsoft said it was tracking “a network of compromised small… -
Biden backs banning stock trades for Congress. Will Trump?
President Joe Biden has thrown his support behind banning members of Congress from trading stocks. His comments come in the waning hours of his administration as the issue has split members of Congress. “Nobody in the Congress should be able to make money in the stock market while they’re in the Congress,” Biden said during… -
Fed forges ahead with third interest rate cut despite growing inflation
The Federal Reserve continued its rate-cutting campaign Wednesday, Dec. 18, marking the third cut of 2024. The central bank shaved off another 25 basis points from its benchmark rate, in line with expectations. The latest decision sets the benchmark interest rate between 4.25% and 4.5%, down from 4.5% and 4.75%. The rate sat above 5%… -
FTC bans ‘bait-and-switch’ junk fees in hotels, rentals, ticket sales
The Federal Trade Commission passed a rule Tuesday, Dec. 17, that will stop “bait-and-switch” tactics when buying concert tickets or booking hotel rooms and other short-term rentals. The new rule may be the final shot in the Biden administration’s fight against junk fees across industries. According to the FTC, “the Junk Fees Rule requires that… -
Trudeau facing calls to resign after finance minister quits in shocking way
Canada’s finance minister has resigned from Prime Minister Justin Trudeau’s cabinet, lambasting him on her way out. In her resignation letter, Chrystia Freeland made it clear that it was President-elect Donald Trump who drove them apart. Her resignation is sending shockwaves through Trudeau’s own Liberal Party in Canada, where many are questioning how long he can… -
Disneyland owes back pay to 50,000 employees in $233 million settlement
Years after Disney was first accused of violating minimum wage laws at its California resort, the “happiest place on Earth” has agreed to settle a class-action lawsuit for $233 million. A lawyer representing Disneyland workers confirmed the settlement to Straight Arrow News. Based on the law firm’s research, it’s believed to be the largest wage… -
Trump secures $100 billion investment in America from Japan’s SoftBank
President-elect Donald Trump has received a commitment from SoftBank Group to invest $100 billion in the U.S., creating 100,000 jobs. The deal, announced Monday, Dec. 16, doubles SoftBank’s funding promise following Trump’s first presidential victory in 2016. SoftBank said the investment will create jobs in AI and other emerging technologies. It said the projects will… -
Wife sues DraftKings claiming husband stole from kids and lost $1M gambling
A New Jersey woman is suing DraftKings, claiming the sports betting site preyed on her husband with incentives that drove him to deposit $15 million over four years. Lisa D’Alessandro claims her husband stole from her and their two minor children to fuel his addiction, losing nearly $1 million that belonged to them. She claims her… -
Mark Zuckerberg’s Meta spends $1 million to mend fences with Trump
Mark Zuckerberg’s Meta is using $1 million to mend fences with President-elect Donald Trump. The social media company Trump has called a “true Enemy of the People” donated the sum to his inaugural fund. The company behind Facebook confirmed the donation to multiple outlets. The Wall Street Journal was the first to report it. It’s a… -
Bill would force Big Health Care to sell pharmacies within 3 years
A group of bipartisan lawmakers introduced legislation that would force companies that own health insurers or pharmacy benefit managers to divest the pharmacies they own. Sens. Elizabeth Warren, D-Mass., and Josh Hawley, R-Mo., said they hope to end the “gross conflict of interest that enables these companies to enrich themselves at the expense of patients and… -
Trump’s FTC pick expected to stay tough on Big Tech but relax on mergers
President-elect Donald Trump has picked his competition cop. He’s appointing Andrew Ferguson as the next Federal Trade Commission chair, replacing antitrust firebrand Lina Khan. Experts expect Ferguson to unwind much of Khan’s short legacy regarding opposing mergers. Both share distrust for Big Tech, albeit for different reasons. In a post, Ferguson wrote, “…we will end Big… -
Albertsons sues Kroger, terminates $25 billion merger
Supermarket chain Albertsons announced Wednesday, Dec. 11, that it filed a lawsuit against Kroger. The suit comes after a district judge in Oregon blocked a $25 billion merger between the two companies. Albertsons claims Kroger didn’t do what was necessary to get regulatory approval for the deal. “Albertsons is seeking billions of dollars in damages…
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Reuters
Driver kills at least two in Germany Christmas market attack
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Texas Gov. Greg Abbott unveils billboard campaign to deter migrants
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ICE deportations hit highest level since 2014: Report
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US presence in Syria grows amid search for missing citizens
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Paramount Pictures and Sega of America, Inc.
Holiday box office showdown kicks off with ‘Sonic 3’ and ‘Mufasa: The Lion King’
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