Senator Elizabeth Warren has recently accused Federal Reserve Chair Jerome Powell of bowing to pressure from the financial industry. She claims that Powell is advocating for changes to regulations that would decrease the capital large banks are required to hold. Warren’s concern is rooted in the fact that these regulations, known as Basel III, were
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Eli Lilly has seen a surge in demand for its weight loss and diabetes treatments in recent times, which has led to a significant increase in its revenue. The outgoing Chief Financial Officer, Anat Ashkenazi, highlighted the company’s success in managing the windfall from its diabetes injection Mounjaro and obesity drug Zepbound. This success has
Disney and Pixar’s latest film, “Inside Out 2,” made a significant impact at the box office this weekend, surpassing expectations with an estimated $155 million in domestic earnings. This successful debut has garnered attention not only for its impressive financial performance but also for its implications for the broader theatrical industry. After facing challenges in
NASA recently announced that Boeing’s Starliner capsule, named “Calypso,” will have an extended stay at the International Space Station. Originally planned for a nine-day mission, Calypso’s stay has now been extended to at least 17 days. This decision was made to allow for further spacecraft testing while it is docked with the ISS. During the
Sony Pictures has made a groundbreaking move by acquiring Alamo Drafthouse, the seventh-largest movie theater chain in North America. This acquisition marks a significant moment in the industry, as it is the first time a studio has purchased a theater chain since the Department of Justice’s antitrust division terminated the decree that prohibited certain film
The news hit the competitive eating world like a ton of bricks – Major League Eating has decided to part ways with 16-time champion Joey “Jaws” Chestnut ahead of this year’s Nathan’s Famous Fourth of July hot dog eating contest. This decision comes after Chestnut made the choice to represent a rival brand that sells
The much-anticipated merger between Paramount Global and Skydance has come to a screeching halt as National Amusements, owned by Shari Redstone, has decided to stop talks with Skydance regarding the proposed deal. The news, reported by CNBC’s David Faber, sent shockwaves through the industry as stakeholders awaited the outcome. The merger, which was on the
The United Auto Workers President, Shawn Fain, is currently under investigation by a federal court-appointed watchdog, Neil Barofsky. The investigation is focused on whether Fain has abused his power as the union president. Additionally, accusations have been made against union leaders, including Fain, for obstructing the investigation and interfering with the watchdog’s access to information.
The Covid-19 pandemic exposed both vulnerabilities and resilience within the American economy, particularly in the child care sector. As daycares closed and schools shifted to remote learning, parents struggled to balance work and caring for their children. While employment in the child care industry has returned to pre-pandemic levels, there is still a shortage of
The recent bankruptcy of Synapse, a fintech middleman, has revealed an $85 million shortfall between what partner banks are holding and what depositors are owed. This has caused a significant disruption in the fintech sector, with over 100,000 customers being locked out of their savings accounts. The missing funds have raised questions about the operational