Business

(WASHINGTON) — With time running short, President Joe Biden and congressional leaders will meet Tuesday afternoon to discuss the debt ceiling as Treasury Secretary Janet Yellen stressed a default could trigger a recession. Biden, House Speaker Kevin McCarthy, House Minority Leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer and Senate Minority Leader Mitch McConnell will […]

(WASHINGTON) — Senators from both parties slammed former Silicon Valley Bank CEO Greg Becker at a hearing on Tuesday, accusing him of mismanagement that they say was fueled by short-term profits and the millions he stood to gain in compensation. In a particularly heated exchange, Sen. John Kennedy, R-La., excoriated Becker over the bank’s failure […]

Jorge Villalba/Getty Images (NEW YORK) — Parents on TikTok are spreading the word about Target’s lenient return policy that applies to over 45 of their private label brands, including their children’s clothing line Cat & Jack. TikTokker Sandra Puente shared a recent shopping trip to Target where she said she returned Cat & Jack items […]

(NEW YORK) — Vice Media, the youth-oriented publisher of prominent online outlets such as Vice and Motherboard, filed for bankruptcy on Monday, underscoring the fraught economic environment for digital media companies as economic growth slows and the advertising market softens. The group of sites, which includes food outlet Munchies and fashion news brand Refinery29, will […]

Tayfun Coskun/Anadolu Agency via Getty Images (NEW YORK) — Ex-NBCUniversal advertising executive Linda Yaccarino will take over as CEO of Twitter, Elon Musk said on Friday. Musk, who runs Tesla and Space X, said a day prior that he plans to transition to a role as executive chairman and chief technology officer. Yaccarino “will focus […]

(NEW YORK) — The cryptocurrency industry, in recent months, has suffered some blows: high-profile bankruptcies, the arrest of wunderkind Sam Bankman-Fried and a regulator lawsuit against top crypto exchange Binance. Despite it all, the price of the largest cryptocurrency, bitcoin, has surged. Bitcoin has climbed 65% this year, far surpassing the S&P 500, which has […]

JasonDoiy/Getty Images (SAN FRANCISCO) — Elon Musk has chosen a new CEO of Twitter and plans to step down from the role within about six weeks, the billionaire entrepreneur said on Thursday. Musk, who runs Tesla and Space X, did not disclose the identity of the incoming chief executive. He said he plans to transition to […]

(NEW YORK) — Shares of PacWest Bancorp plummeted more than 20% in early trading on Thursday after the regional lender said it faced a sizable withdrawal of deposits last week, renewing concern over financial trouble in the aftermath of a string of major bank collapses. The sharp decline of PacWest stock prompted a pause in […]

Gary Hershorn/Getty Images (NEW YORK) — Peloton is recalling over two million bikes, warning that the bike seat post assembly could break and cause users to fall. The Peloton Bikes Model PL01 is the one being recalled. Users are told to immediately stop using the bike and call Peloton for a free repair. There have […]

Greg Bajor/Getty Images (NEW YORK) — Uber will soon allow customers to book plane tickets directly through its app. The new feature powered by online travel agent Hopper will roll out for users in the United Kingdom this summer. Customers can enter their destination and travel dates, select their desired flights and then pay directly […]