Brent Jabbour
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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… -
Inflation rate ticks up for second straight month ahead of next Fed decision
Consumer price inflation rose slightly in November 2024 at 2.7% annually, compared with 2.6% in October 2024. Monthly prices rose 0.3% from October, according to data released by the Bureau of Labor Statistics (BLS) on Wednesday, Dec. 11. Core inflation, which removes more volatile food and energy prices, rose 3.3% annually and 0.3% compared with… -
NY Gov. Hochul pitches $500 inflation checks as her popularity suffers
New York Gov. Kathy Hochul, D, wants to send inflation checks to millions of New Yorkers. Under her proposed budget for next year, the state would send $500 checks to families making up to $300,000, while individuals making up to $150,000 would receive $300. “We’re told inflation is getting better,” Hochul said during the policy announcement.… -
Macy’s activist investor may be ‘most truthful’ about retailer’s future
Macy’s is facing off with an activist investor for the fourth time in a decade. Activist investment firm Barington Capital and private equity firm Thor Equities say the company needs to cut spending, expand luxury brands and leverage its real estate portfolio. The investors say the real estate Macy’s sits on is worth as much… -
‘You’re not fired.’ Trump says he won’t try to remove Fed Chair Jerome Powell
In his first broadcast interview since the election, President-elect Donald Trump put to bed the notion he’d try to fire the chair of the Federal Reserve before his term expires in 2026. NBC’s Kristen Welker asked Trump during the hour-long exchange if he would try to replace Federal Reserve Chair Jerome Powell. “No, I don’t think… -
Nvidia dragged into US-China tit-for-tat over chip restrictions
The world’s second-most valuable company is caught in the back-and-forth between the United States and China. Beijing announced on Monday, Dec. 9, it launched an antitrust investigation into chipmaker Nvidia. China’s State Administration for Market Regulation said it suspects the company, crucial to the proliferation of artificial intelligence, is violating a promise it made during… -
There’s a new term to describe this job market’s vibes
Despite a strong jobs report for November, the job market vibe is mixed. The number of Americans reporting they want a new job is at a 10-year high, but many feel they have nowhere to go. Gallup is calling it the “Great Detachment,” years after the “Great Resignation” took hold. In workplaces around America, employees feel… -
Why November’s 227,000 jobs added is not as impressive as it seems
The U.S. jobs market beat expectations in November, adding 227,000 jobs after a bleak October report driven by hurricanes and strikes. At the same time, the unemployment rate ticked up to 4.2% from 4.1% in October, according to Labor Department data. Payroll employment has averaged 186,000 jobs added per month over the last 12 months.… -
Ramaswamy says DOGE will scrutinize Rivian loan and CHIPS Act awards
Department of Government Efficiency co-chair Vivek Ramaswamy is going to put President Joe Biden’s “last-minute spending spree” under a microscope. He claims the funding awarded months before a power transition is inappropriate and will receive special scrutiny. High on his list of spending to claw back is a $6.6 billion loan to EV maker Rivian… -
Anthem cancels controversial anesthesia policy after widespread outrage
Anthem Blue Cross Blue Shield is canceling a proposed policy change on anesthesia coverage after extensive backlash. On Nov. 1, Anthem announced they would soon cap anesthesia coverage to a certain time limit and would deny anesthesia claims that exceeded the allotted minutes. While the American Society of Anesthesiologists promptly reacted to the proposal, the…
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