Simone Del Rosario
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Core inflation is still above 3%: Is it time for the Fed to move its target?
Inflation cooled for the fifth straight month in August at 2.5%, inching closer to the Federal Reserve’s target of 2%. But core prices, which strip out food and energy, stayed stagnant at 3.2%. Is it time for the central bank to adjust its core inflation target of 2%? The Federal Reserve has a dual mandate… -
DirecTV rejected Disney’s offer to restore ABC before the presidential debate
DirecTV and Disney are still at an impasse in their contract dispute, with Disney networks including ABC and ESPN remaining dark for the more than 11 million DirecTV subscribers. DirecTV customers already missed out on Monday Night Football and were in jeopardy of not being able to watch Tuesday’s, Sept. 10, debate on ABC, the network… -
Inflation cools to 2.5% in August but monthly core prices came in hotter
Consumer price inflation cooled for the fifth straight month in August at 2.5% annually, inching closer to the Federal Reserve’s target of 2% inflation one week before the central bank’s next rate decision. Monthly prices rose 0.2% from July, according to data released by the Bureau of Labor Statistics Wednesday, Sept. 11. Core inflation, which… -
Apple and Google lose billions in back taxes, EU fines across the pond
The European Commission scored two big wins against major U.S. tech companies on Tuesday, Sept. 10. Both Apple and Google will have to pay billions of euros after nearly a decade of fighting in EU courts. Apple lost its final appeal to avoid paying $14.34 billion in back taxes to Ireland. The European Court of… -
Nearly 2/3 of Americans say they won’t buy new iPhone because of inflation
Apple revealed its new iPhone on Monday, Sept. 9, fit with artificial intelligence and cameras that just keep getting better. The iPhone 16 even has a camera control button on the edge. Sales start this month, but how many Americans will be racing to get the latest gadget? Sixty-three percent of Americans said they would… -
What is a sovereign wealth fund? Both Trump and Biden want one.
Both President Joe Biden and former President Donald Trump are piqued by the idea of a sovereign wealth fund for the United States. It’s a strategy largely employed by oil-rich nations and may seem more out of place for a country with more than $35 trillion in national debt, a trade deficit and Social Security… -
Is Google just better? Company defends advertising tech after losing search case
Court is back in session and Google is back on the defense. A month after a federal judge ruled Google is a monopoly because of its search engine, the Big Tech firm is defending its advertising practices. The cases could multiply calls to break up Google. In a new antitrust trial starting Monday, Sept. 9, the Department… -
Selena Gomez: From Disney star to $1.3 billion beauty mogul
Selena Gomez has worn a number of different hats on her journey to become a billionaire, but now the child star has a burgeoning beauty business. At age 32, Gomez is one of the youngest self-made billionaires in the U.S., a bulk of which is due to her makeup line, Rare Beauty. According to the… -
7-Eleven rejects $38.5 billion buyout offer from Circle K owner
Like a Slurpee or a Froster, the plans by Circle K’s parent company to buy 7-Eleven’s parent company have turned to slush. The Japan-based Seven & i rejected the $38.5 billion takeover offer by Canadian company Alimentation Couche-Tard on Friday, Sept. 6. It’s the first time the offer amount has been made public. Seven &… -
August jobs report misses with 142,000 jobs added, unemployment at 4.2%
The U.S. economy added fewer jobs than anticipated in August, but the unemployment rate did come off July’s surprise 4.3%. According to the latest data from the Bureau of Labor Statistics (BLS), the U.S. added 142,000 jobs in August when economists expected around 165,000. The month’s unemployment rate of 4.2% came in as expected. In… -
Elon Musk to serve in Trump admin: Key highlights from economic speech
Tesla investors already expressed concern CEO Elon Musk’s attention is too divided. However, he may have another task on his hands if former President Donald Trump is elected in November. “I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government and making recommendations for drastic… -
Biden taking rare step to thwart Japan company’s takeover of US Steel: Reports
It may not matter that presidential hopefuls Donald Trump and Kamala Harris both want to stop a Japanese company from acquiring U.S. Steel. That’s because current President Joe Biden is beating them to it. According to multiple reports, Biden plans to block the $15 billion deal between Japan’s Nippon Steel and U.S. Steel on the grounds… -
Kamala Harris pushes for 10x boost in new small business tax break
Presidential candidate and Vice President Kamala Harris wants to 10x the tax incentives new small businesses get. In a campaign stop in New Hampshire Wednesday, Sept. 4, Harris highlighted her desire to spur 25 million new small business applications in a four-year term if elected. So far, entrepreneurs have filed a record-breaking 19 million new small…
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Andrew Cuomo sues for defamation after sexual harassment allegations
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