Economy

Daniel Grill | Tetra Images | Getty ImagesThe start of the year was plagued by waves of layoffs: through the end of May, companies announced plans to cut 417,500 jobs, up 315% from the same period last year, according to Challenger, Gray & Christmas. Big names like Disney, Google, Lyft and Meta were among those… […]

In this photo illustration, boxes of the diabetes drug Ozempic rest on a pharmacy counter on April 17, 2023 in Los Angeles, California.Mario Tama | Getty ImagesNovo Nordisk on Tuesday sued five medical spas and wellness clinics for allegedly selling cheaper, unauthorized versions of the company’s weight loss drugs Ozempic and Wegovy. The Danish drugmaker initiated… […]

Erin M. Collins, National Taxpayer Advocate.Source: IRSAfter a flood of business returns with a pandemic-era tax credit, the IRS is weighing guidance for those who wrongly claimed the tax break.The employee retention credit was created to support small businesses during the Covid-19 pandemic. There’s still time to amend returns and claim the credit, which is… […]

Job seekers attends the JobNewsUSA.com South Florida Job Fair on June 26, 2024 in Sunrise, Florida. Joe Raedle | Getty Images Renewed fears of a U.S. recession have put a spotlight on unemployment. However, the system that workers rely on to collect unemployment benefits is at risk of buckling — as it did during the […]

X owner Elon Musk (L), and Sen. Elizabeth Warren (D-MA). Reuters Sen. Elizabeth Warren, D-Mass., is asking the Tesla board if it’s looked into CEO Elon Musk’s use of company resources to benefit his other ventures, including SpaceX and xAI. “Tesla’s Board of Directors appears to be failing to meet its fiduciary duties to Tesla’s […]

Life Time fitness club company said it has created the “ultimate” ball for the booming sport of pickleball. Courtesy: Life Time Tired of playing with pickleballs he found inconsistent in bounce and durability, Life Time ‘s founder and CEO Bahram Akradi decided to take matters into his own hands. On Friday, the upscale fitness and […]

The S&P 500 is facing a key test level as the consensus view of a soft landing for the U.S. economy reaches a “make or break” point, according to one strategist. Ron William, chief investment officer at RW Advisory, told CNBC’s “Squawk Box Europe” the 5,200 mark will “decide whether this bounce-back holds or whether […]

JPMorgan Chase has rolled out a generative artificial intelligence assistant to tens of thousands of its employees in recent weeks, the initial phase of a broader plan to inject the technology throughout the sprawling financial giant. The program, called LLM Suite, is already available to more than 60,000 employees, helping them with tasks like writing […]

US Secretary of State Antony Blinken (L) attends a meeting with China’s President Xi Jinping at the Great Hall of the People in Beijing on June 19, 2023.Leah Millis | Afp | Getty ImagesU.S. Secretary of State Antony Blinken on Monday ended a high-stakes visit to Beijing with an unexpected meeting with Chinese President Xi… […]

People raise their fists as they march during an event in remembrance of George Floyd in Minneapolis, Minnesota, on May 23, 2021.Kerem Yucel | Afp | Getty ImagesThe killing of George Floyd and the social justice movement that emerged was an eye-opening moment for many in the U.S., including the nation’s top companies. The tragedy… […]