Business

Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB), testified before the Senate Committee on Banking, Housing, and Urban Affairs in late November 2023, addressing ongoing consumer financial protection issues. A few weeks later, the CFPB stepped up its efforts by filing a lawsuit against Zelle, a major peer-to-peer payments network, and its three largest operators – JP Morgan Chase, Bank of America and Wells Fargo – for failing to fight fraud. and adequately compensate victims. The lawsuit marks a significant step in the CFPB's broader campaign to hold financial institutions accountable for fraud-related customer losses. According to the…

Neuralink, the brain technology startup founded by Elon Musk, announced that it has received approval to launch a new feasibility study using its experimental brain implant and robotic arm technology. This initiative, called FIRST studywill evaluate the safety and functionality of the company's wireless brain-computer interface (BCI) and its surgical robot. The study is specifically aimed at helping people with tetraplegia-a severe form of paralysis: controls external devices using only their thoughts. The announcement was made via Neuralink's social media channels, where the company described the study as a significant step toward advancing its technology. “This is the first step…

William O'Dowd IV, CEO of Dolphin Entertainment Inc. (NASDAQ:DLPN), increased his personal investment in the company by acquiring an additional 13,000 shares of common stock. The shares were purchased at an average price of $1.09 each, bringing the total value of the transaction to approximately $14,170. This move highlights O'Dowd's confidence in the company's future and its recent performance metrics, including an impressive 94% gross profit margin and a 22% revenue growth rate over the past year. The purchase, completed on December 17, 2024, increases O'Dowd's direct ownership in Dolphin Entertainment to 147,493 shares. In addition to this, O'Dowd also…

Apple is accused of illegally surveilling the personal devices and iCloud accounts of its employees, particularly when they discuss pay and workplace conditions. A new complaint, filed by Domingo Amar Bhakta in a California state court, accuses the tech giant of requiring employees to install software on personal devices used for work. This software supposedly grants Apple access to sensitive personal data, including emails, photo archives, health information, and even data from “smart home” devices. Bhakta, who works in Apple's digital advertising division and has been with the company since 2020, claims that Apple has strict privacy policies that prevent…

SpaceX, the aerospace company led by Elon Musk, has put forward an ambitious proposal to turn its Starbase facility in Boca Chica Beach, Texas, into an officially chartered city. The company has submitted a petition urging local authorities to approve the move, which it says would support the continued growth of its business and workforce in the region. Starbase, located in the southernmost part of Texas near the Mexican border, serves as the hub for SpaceX's development and launch of Starship, the massive spacecraft designed for missions to the Moon, Mars and beyond. The company said incorporating Starbase as a…

The UK economy unexpectedly contracted in October, exacerbating fears of a prolonged economic slowdown as businesses and households grapple with uncertainty. According to the Office for National Statistics (ONS), gross domestic product (GDP) fell by 0.1% month-on-month, defying economists' expectations of a modest 0.1% increase. This contraction follows a similar 0.1% decline in September, marking the second consecutive month of negative growth and raising concerns about the country's economic trajectory. The ONS attributed October's decline to reduced output across all key sectors. However, on a three-month rolling basis, GDP showed a slight increase of 0.1% for the period ending in…

Hershey shares surged as much as 15% in Monday trading following a Bloomberg report suggesting Mondelez may attempt another takeover of the iconic chocolate company. This marks a notable development in ongoing speculation about Hershey's future as an independent entity, with its shares now on track for their best day since mid-2016. Prior to this rally, Hershey's stock had faced a turbulent year, with its value falling about 6% on concerns over rising cocoa prices and the growing use of GLP-1 drugs, which according to some analysts they could suppress the demand for confectionery products. With Monday's boost, Hershey's shares…

Alaska Airlines is targeting significant growth, with a goal of increasing profits by $1 billion by 2027. The airline is banking on growing demand for premium travel and its recent acquisition of Hawaiian Airlines to achieve this ambitious goal. The $1.9 billion purchase of Hawaiian Airlines, finalized in September, opened up new opportunities for Alaska Airlines, granting it access to cross-Pacific routes and wide-body aircraft such as the Boeing 787 Dreamliner and Airbus A330. Although both Alaska and Hawaiian Airlines continue to operate as separate brands, the acquisition positioned Alaska for a major expansion of its international network. Starting in…

A wave of optimism about personal finances has spread among Americans following Donald Trump's victory in November's presidential election, according to a survey released Monday by the Federal Reserve Bank of New York. The data reveals a significant increase in confidence, with families feeling more positive about their financial future than in recent years. The survey, which involved around 1,300 heads of families, revealed that 37.6% of those interviewed expect their financial situation to improve within the next year. This represents an increase of nearly 8 percentage points compared to October and marks the highest level of financial optimism recorded…