Thursday delivered some welcome good news in the slow push for a labor market recovery. The Labor Department reported that new jobless benefits claims “fell to their lowest weekly level in the last year, a sign that the...more
Tech stocks roared back on Tuesday just a day after the Nasdaq hit correction territory, as “buy-the-dip” won out and led to a nearly-4% jump for the tech-heavy index ...more
The Treasury Department announced on Monday that the U.S. budget deficit hit a new record in June–$864 billion—“as the federal government continued pumping money into the economy to prop up workers and businesses affected by...more
The U.S. Jobs Report Will Be Ugly: The March jobs report will likely show the worst numbers in the “post-World War II era,” and “it is playing out in a matter of weeks,” not years. One study suggests the U.S. has lost 27.9...more
Ride-hailing company Uber has resolved EEOC charges related to its alleged “culture of sexual harassment” and will “start a $4.4 million class fund to compensate victims of sexual harassment or retaliation from as early as...more
Facebook and the FTC have agreed to terms on a settlement addressing the social network’s privacy violations in recent years. Along with the previously reported $5 billion fine, the deal will require Facebook to “add new...more
Facebook revealed on Wednesday that it’s expecting a one-time $3 to 5 billion FTC fine over privacy violations, an amount that would be a “record penalty for a technology company by the agency.” In preparation, Zuck & co....more
Sears marked the end of an era today, as the store that “more than a century ago pioneered the strategy of selling everything to everyone” filed for bankruptcy protection early this morning....more
Though he was apparently ready to go with his “verbal agreement with the Saudis” defense, Elon Musk capitulated to pressure “from his lawyers and investors of Tesla” and agreed to resolve all SEC allegations of wrongdoing,...more
Meet ZTE (well, meet them again. We’ve discussed them before), the massive Chinese electronics maker banned last month by the White House from using US-made components that could well be the “first casualty of the high-tech...more
Jon Corzine’s plotting his Wall Street comeback, and he’s planning on using the unpredictable nature of the new administration to help him (and his new hedge fund) get there....more