GameStop shares are surging after the struggling video game retailer reported its first profitable quarter in two years. In early trading the company’s stock soared 46% to $25.70. The Texas-based retailer on Tuesday reported a net profit of $48.2 million for the fourth quarter ending on Dec. 31, compared with …
Read More »Equal Pay Day: Women lose up to $900,000 in earnings in their lifetime.
March 14 is Equal Pay Day, the symbolic date indicating how far into the year women would need to work to earn the same amount of pay male workers earned the prior year. This year, the day is underscored by the dour fact that the pay gap has barely budged …
Read More »Justice Department set to block JetBlue’s $3.8 billion deal for Spirit Airlines
Federal antitrust enforcers are preparing to file a lawsuit seeking to block JetBlue Airways’ proposed $3.8 billion acquisition of Spirit Airlines. The deal, announced in July of 2022 after JetBlue topped a rival bid for Spirit from Frontier Airlines, would create the fifth-largest carrier in the U.S. Lawyers for the U.S. …
Read More »Volkswagen failed to track down mom’s stolen car with infant inside
After carjackers allegedly stole a pregnant Illinois mother’s Volkswagen SUV earlier this month with her infant son inside, running her over in the process, local deputies said they immediately contacted the automaker so they could use its crash-response system to help locate the car via GPS. The automaker declined. The …
Read More »Home Depot’s starting pay rises to $15 an hour
Home Depot said it is raising starting pay for employees to $15 an hour, effective this month. The DIY-focused home improvement chain made the announcement Tuesday as part of a $1 billion investment in pay raises for workers across its 2,000 U.S. stores and 182 Canadian stores. The decision comes …
Read More »Ford to build $3.5 billion electric vehicle battery plant in Michigan
Ford Motor Co. plans to build a $3.5 billion factory in Michigan that would employ at least 2,500 people to make lower-cost batteries for a variety of new and existing electric vehicles. The plant, to be built on land being readied for industrial development about 100 miles west of Detroit, …
Read More »Another inflation pressure point for Americans: Car insurance
Inflation may be starting to ease, but drivers won’t see a break on their insurance this year, with the average cost of a policy rising almost 14%, according to a new analysis. The price of full coverage car insurance jumped to $2,014 a year in January, up 13.7% from a …
Read More »CBD has too many safety unknowns to be regulated, FDA says
The Food and Drug Administration on Thursday said it is unable to regulate CBD products under its current structure because the hemp- or marijuana-derived ingredient hasn’t been shown to be safe enough for food or supplements. “[I]t is not apparent how CBD products could meet safety standards for dietary supplements …
Read More »Artists sue AI company for billions, alleging “parasite” app used their work for free
As AI-generated images proliferate across the internet, two lawsuits are seeking to rein in the potent technology as well as ensure the artists who unwittingly helped train the tools are financially compensated for their work. The litigation, which targets the company behind the Stable Diffusion engine, represents the first legal …
Read More »As inflation eases, U.S. economy looks a little less bleak
For months, the outlook for the U.S. economy has been a mostly bleak one: Inflation hitting a four-decade high, consumer spending weakening, interest rates surging. Most economists penciled in a recession for 2023. An economic downturn is still possible. Yet in recent weeks, with inflation showing widespread signs of easing, …
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