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Inflation rises 2.9% in 2024 as consumer prices heat up heading into 2025
Inflation continued to head in the wrong direction in December. Consumer prices rose 2.9% on the year, hotter than the 2.7% rise in November. On the month, prices rose 0.4%, the highest monthly rise since February. In November, prices rose 0.3%. It’s the third month in a row the key inflation gauge rose. It’s now… -
Apple pushes back against pressure to end DEI policies
At least one Big Tech company is pushing against pressure to roll back policies on diversity, equity and inclusion, also known as DEI. Apple’s board is recommending investors reject a proposal to cease DEI efforts at the company. Rebuffing calls to unwind DEI would go against a recent trend seen in tech. Meta announced during… -
China floats Elon Musk as possible future owner of US TikTok: Report
Chinese officials are weighing options for TikTok as the popular short-form video app faces an outright ban in the U.S. on Jan. 19. One possible option they are discussing is selling its U.S. operations to X owner Elon Musk, according to a report from Bloomberg. The Chinese government would “strongly” prefer TikTok’s parent company, ByteDance,… -
Meta kills DEI programs in its latest appeal to Trump
Meta is ending its diversity, equity and inclusion programs effective immediately in the company’s latest swing away from traditionally left-leaning causes. The company announced the policy change in an employee memo first reported by Axios. “The legal and policy landscape surrounding diversity, equity and inclusion efforts in the United States is changing,” the memo reads.… -
Total estimated cost of California wildfires triples to $150 billion as blazes rage on
The estimated total cost of the destructive southern California wildfires has nearly tripled as first responders struggle to contain the largest blazes. The economic toll could reach $135 billion to $150 billion, according to experts at AccuWeather, up from their previous high estimate of $57 billion. “Hurricane-force winds sent flames ripping through neighborhoods filled with… -
US economy wows with 256,000 jobs added in December, more than expected
The U.S. economy added 256,000 jobs in December, roughly 100,000 jobs more than expected. The unemployment rate ticked down to 4.1% from November’s 4.2%. December’s jobs figure was even higher than November’s 212,000, which experts said was skewed higher by people returning to work from strikes and hurricanes. December’s Labor Department’s report appeared to be… -
California wildfires causing $57 billion in damage as providers canceled insurance
The devastating southern California wildfires could cause between $52 billion and $57 billion in economic losses, according to experts at AccuWeather. But homeowners affected have unique insurance factors in play as they try to put their lives back together. In the months leading up to the disaster, many affected homeowners lost their original insurance coverage.… -
What does Trump want with Greenland when US already has military control?
President-elect Donald Trump is threatening military and economic force against Denmark to gain control of Greenland. The autonomous territory is part of the Denmark kingdom, while the U.S. has maintained a military presence there since World War II. “We need it for national security. That’s for the free world. I’m talking about protecting the free world,”… -
CFPB sues Warren Buffett-backed mortgage lender for ignoring ‘red flags’
The Consumer Financial Protection Bureau filed a lawsuit against a mortgage lender owned by Warren Buffett’s Berkshire Hathaway. The watchdog alleges Vanderbilt Mortgage and Finance steered customers to buy manufactured homes they couldn’t afford. Vanderbilt Mortgage and Finance is a subsidiary of Clayton Homes, the nation’s largest builder of manufactured homes. Clayton Homes is a… -
Why mortgage rates are going up while the Fed is cutting rates
Prospective home buyers who thought the Federal Reserve’s rate-cutting cycle would relieve high mortgage rates were in for a rude awakening in 2024. Since the date of the Fed’s first cut in September, the rate on a 30-year fixed mortgage has gone up nearly a full percentage point, even though the Fed has cut two… -
Nvidia reveals new AI supercomputer, technology to train robots
The world’s second most valuable company showed off a slew of new products Monday, Jan. 6, at the world’s preeminent technology trade show. Nvidia unveiled artificial intelligence (AI) that trains robots and cars, new ultrapowerful gaming chips and its first-ever desktop computer at CES 2025 in Las Vegas. During the company’s highly anticipated keynote address,… -
Nippon and US Steel sue Biden for ‘sham’ review blocking $15 billion deal
U.S. Steel and Nippon Steel sued the Biden administration over the decision to block the $15 billion merger on the grounds of national security, calling the review process a “sham.” It is the star-crossed steel companies’ last-ditch attempt to revive the deal President Joe Biden squashed during the week of Dec. 30. In a separate… -
Italian PM denies SpaceX talks with Trump as nation nears €1.5 billion deal
Italian Prime Minister Giorgia Meloni denied talking with President-elect Donald Trump about SpaceX supplying the country with Starlink services over the weekend. The denial comes as reports indicate the nation is closing in on a €1.5 billion deal ($1.55 billion) for the private space company to provide secure telecommunications to the Italian government. Meloni made…
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Trump envoy to meet Putin in Moscow over potential ceasefire in Ukraine
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Why DC is removing its ‘Black Lives Matter’ street mural
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Gabbard strips security access from top Biden aides, prosecutors
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New York fires more than 2,000 corrections officers as prison strike ends
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Trump will double planned tariffs on Canada’s steel and aluminum to 50%
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