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Fed’s preferred inflation gauge stayed elevated in September as spending weakened
Inflation stayed steady in September, easing the path for a possible Fed rate cut next week as consumer spending slows and job losses rise.
Netflix to buy Warner Bros. Discovery in $72B deal
NEW YORK (AP) — Netflix struck a deal Friday to buy Warner Bros. Discovery, the Hollywood giant behind “Harry Potter” and HBO Max, in a $72 billion deal that would bring together two of the biggest players in television and film and potentially reshape the entertainment industry. If approved by regulators, the merger [...]
Hearing probes evidence in CEO killing suspect’s arrest
NEW YORK (AP) — Minutes after police approached Luigi Mangione in a Pennsylvania McDonald’s, he told an officer he didn’t want to talk, according to video and testimony at a court hearing Thursday for the man charged with killing UnitedHealthcare CEO Brian Thompson. Although some video and accounts of police int[...]
Jobless claims fall to 3-year low ahead of Fed decision
WASHINGTON (AP) — U.S. applications for unemployment benefits fell to their lowest level in more than three years during Thanksgiving week, potentially complicating the Federal Reserve’s upcoming decision on interest rates. The number of Americans applying for jobless benefits for the week ending Nov. 29 fell to 1[...]
AMC Entertainment CEO remains in charge of world’s largest theater chain after stroke
WASHINGTON (AP) — AMC Entertainment CEO Adam Aron suffered a minor stroke last month but is recovering rapidly and will continue to lead the world’s biggest movie theater chain, the company said Thursday. Aron, 71, suffered the stroke while on a business trip in London, where he immediately received emergency medical car[...]
Macy’s reports surprise Q3 profit, lifts annual outlook
NEW YORK (AP) — Macy’s posted a surprise third-quarter profit and its strongest comparable sales in more than three years as an extensive overhaul of the 167-year-old New York department store begins to resonate with shoppers. Macy’s raised its financial guidance for the year, but its outlook for the crucial fourth[...]
Bessent seeks residency rule for Fed regional presidents
WASHINGTON (AP) — Treasury Secretary Scott Bessent said Wednesday he would push a new requirement that the Federal Reserve’s regional bank presidents live in their districts for at least three years before taking office, a move that could give the White House more power over the independent agency. In comments at the Ne[...]
UPS put profits over safety before plane crash that killed 14, lawyer alleges
A deadly UPS cargo plane crash in Kentucky stemmed from from corporate choices that favored profits over safety, according to a lawyer who filed two wrongful death lawsuits Wednesday, which allege the company kept flying older aircraft without increasing maintenance beyond what’s regularly scheduled. Last month’s [...]
Trump plan would roll back US vehicle mileage rules
WASHINGTON (AP) — President Donald Trump is expected to announce a proposal Wednesday to weaken vehicle mileage rules for the auto industry, loosening regulatory pressure on automakers to control pollution from gasoline-powered cars and trucks, according to several people familiar with the White House plans. The pro[...]
Costco seeks refunds as Trump tariffs face high court
WASHINGTON (AP) — Costco is joining other companies that aren’t waiting to see whether the Supreme Court strikes down President Donald Trump’s most sweeping import taxes. They’re going to court to demand refunds on the tariffs they’ve paid. The specialized U.S. Court of International Trade in New York[...]
Minimalist Prada buys maximalist Versace for $1.4 billion, in bid to relaunch sexier Milan rival
MILAN (AP) — The Prada Group closed the purchase of Milan fashion rival Versace in a $1.375 billion cash deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada’s “ugly chic” aesthetic and Miu Miu ‘s youth-driven appeal. The highly anticipated deal is expected to relaunc[...]
OpenAI CEO Sam Altman declares ‘code red’ to improve ChatGPT amid rising competition
SAN FRANCISCO (AP) — OpenAI CEO Sam Altman has set off a “code red” alert to employees to improve its flagship product, ChatGPT, and delay other product developments, according to The Wall Street Journal. The newspaper reported that Altman sent an internal memo to staff Monday saying more work was needed to enhance the ar[...]
