Sen. Elizabeth Warren, a Democratic senator from Massachusetts, recently accused Federal Reserve Chair Jerome Powell of caterin to the financial industry’s interests by considering alterations to a set of regulations designed to enhance the capital requirements for large American banks. Warren expressed her disappointment in Powell in a letter dated June 17, in which she
Business
The recent news of Fisker filing for Chapter 11 bankruptcy protection has sent shockwaves through the electric vehicle (EV) industry. This event is not an isolated incident, as several other EV startups have faced similar challenges and ultimately collapsed. Fisker’s downfall is a cautionary tale that highlights the pitfalls of the industry and serves as
Eli Lilly has experienced a remarkable surge in demand for their weight loss and diabetes treatments, propelling the company to new levels of success. The outgoing Chief Financial Officer, Anat Ashkenazi, played a crucial role in managing this growth, particularly with the popularity of their diabetes injection Mounjaro and the recently launched obesity drug Zepbound.
Over the past weekend, Disney and Pixar’s “Inside Out 2” made a significant impact on the box office, debuting with an impressive $155 million in domestic ticket sales. This marked the second-highest theatrical opening for an animated film, following Warner Bros.’ “Barbie.” The success of “Inside Out 2” is a welcome return to form for
Boeing’s Starliner capsule, named “Calypso,” is set to remain at the International Space Station (ISS) for an extended period, according to NASA’s recent announcement. Originally planned for a nine-day mission, Calypso’s stay at the ISS is now expected to last at least 17 days. This extension is necessary for further spacecraft testing, including operating the
Sony Pictures made headlines recently with its acquisition of Alamo Drafthouse, marking the first time a major studio has purchased a theater chain since the lifting of the Paramount Consent Decrees in 2020. This move comes as a significant development in the ever-evolving landscape of the film industry, particularly in the wake of the COVID-19
The news of Joey “Jaws” Chestnut parting ways with Major League Eating (MLE) ahead of the Nathan’s Famous Fourth of July hot dog eating contest has sent shockwaves through the competitive eating world. Chestnut, a 16-time champion, was a dominant force in the sport, and his absence will certainly be felt during this year’s competition.
National Amusements, owned by Shari Redstone, initially agreed to terms of a merger with Skydance, RedBird Capital, and KKR. However, talks abruptly ended, leaving Paramount Global in a state of uncertainty. The sudden termination of discussions came as a surprise, especially after both parties had already agreed to merger terms. Paramount’s Strategic Priorities and Leadership
United Auto Workers President Shawn Fain is currently under scrutiny as a federal court-appointed watchdog, Neil Barofsky, investigates potential abuses of power within the union. The recent court filing highlights concerns that Fain and other union leaders have obstructed the investigation process and impeded access to vital information. These actions, if proven true, could be
The Covid-19 pandemic has undeniably shed light on both vulnerabilities and resilience within the American economy. One of the areas that took center stage amidst the crisis was child care as daycares closed, schools transitioned to remote learning, and parents struggled to balance work and childcare responsibilities. Although employment in the child care sector has